News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • WTI trades back below $75 as risk assets broadly decline $CL_F $CL $WTI #OOTT
  • Gold Price Forecast: Gold Falls as Rates Rise, XAU/USD Nearing Support
  • The latest US Conference Board consumer confidence fell to the lowest level since February, the headline reading dropping to 109.3, below expectations for 114.5. Get your $USD market update from @JMcQueenFX here:
  • $SPX Daily . . Know the Levels. . . #SPX
  • ...that said, I like volatility; so by all means, bring in a person that gets these markets rocking and rolling again
  • Saying Powell is a dangerous man is disingenuous. The Fed has done very well with its dual mandate and their efforts to steady the markets for Main and Wall Street has further fed the financial bubbles we continue to blow. $VIX
  • Fed's Powell: The Fed will not be able to shield financial markets and the economy from the fallout of a US default $USD $ES_F $SPX
  • ...also worth noting, this is the Cable's biggest dive (-1.15% at present) since Sep 10, 2020
  • While EURUSD is still holding the floor on its nearly year-long range, $GBPUSD looks like it is making a play for its head-and-shoulders 'neckline' break with this 1.3600 break
  • With the charge in Treasury yields after the debt ceiling warning today, I'm going to move the likes of $TLT (the iShares 20+ year Treasury ETF) closer to the top of my watch list. Let's see where volume ends up today
EUR/USD Shrugs Off Weaker-Than-Expected Industrial Production Data as Fed Looms

EUR/USD Shrugs Off Weaker-Than-Expected Industrial Production Data as Fed Looms

Nick Cawley, Strategist

Talking Points

- Euro-Zone industrial production contracts month-on-month in October.

- Recent manufacturing data paint a slightly better picture.

- All eyes are on the Federal Reserve later in the day.

Eurozone industrial production (IP) growth edged into negative territory in October, missing analysts’ expectations of a small positive outturn. The lagging indicator showed IP contracting by 0.1% against expectations of +0.2% and the prior month’s -0.9%.

According to Eurostat, the decrease in October compared with September is due to production of non-durable consumer goods falling by 1.5% and intermediate goods by 0.5%, while production of energy rose by 0.8%, capital goods by 1.0% and durable consumer goods by 1.5%.

On an annual basis, IP increased by +0.6% in October, missing expectations of +0.8%, and lower than an upwardly revised +1.3% in September. Industrial production rose in Spain by +0.3% and Germany by +0.1% while production fell in France by -0.2% and Italy remained flat on the month.

Despite the weak numbers, the Eurowas almost unchanged as traders balance today’s weak numbers against PMI manufacturing survey evidence for November that showed activity rising to a 34-month high.Financial markets are also keen to hear what Federal Reserve Chair Janet Yellen has to say later today at the final FOMC meeting of the year. With expectations of a 0.25% rate hike fully priced into the market, traders hope that Yellen’s press conference may give some clues to the Fed’s thoughts on additional rate hikes in 2017.

Chart: EURUSD 5-minute (December 14)

EUR/USD Shrugs Off Weaker-Than-Expected Industrial Production Data as Fed Looms

--- Written by Nick Cawley, Analyst

--- To contact Nick, email him at

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.