020 7898 0500The euro had yet another brilliant day as it appeared to be the best of a bad bunch so far this week. Industrial production data from Germany on Tuesday morning came out at -1.2% which was much worse than the forecast of 0.4% and even worse than last month’s figure of -0.3%. Yet throughout the day the single currency only strengthened against its major peers, the US dollar and sterling, as weakness from the UK and the US massively boosted the euro. The euro pushed to fresh four month highs against the US dollar, whilst against sterling it again broke through the 13-month high.
Very early this morning we have industrial production data from both France and Italy which is forecast to tick up slightly from -0.9% up to 0.2% for France and to 0.3% from -0.5% for Italy.
