Eurozone’s Industrial Production in Germany showed a bigger-than-expected rise in April, the official data published by Eurostat showed on Monday, suggesting that the recovery in the manufacturing sector is gradually picking up.
The industrial output in the bloc arrived at 0.8% MoM vs. a 0.4% rise expected and 0.4% last.
On an annualized basis, the industrial output jumped by a whopping 39.3% in April versus a 37.4% increase expected and March’s 11.5%.
FX implications
The shared currency keeps the bid tone intact after upbeat industrial figures, although fails to take advantage of the data.
At the time of writing, EUR/USD gains 0.07% on the day to now trade at 1.2115, supported by a steady US dollar. The euro traders take note of the latest ECB-speak.
About Eurozone Industrial Production
Industrial Production is released by Eurostat. It shows the volume of production of Industries such as factories and manufacturing. Uptrend is regarded as inflationary which may anticipate interest rates to rise. Usually, if high industrial production growth comes out, this may generate a positive sentiment (or bullish) for the EUR, while low industrial production is seen as a negative sentiment (or bearish).