- Industrial Production in the euro area expanded at a stronger pace than expected in November.
- EUR/USD pair continues to trade in the negative territory below 1.2200.
Industrial Production in the euro area expanded by 2.5% on a monthly basis in November, the data published by the Eurostat showed on Wednesday. This reading followed October’s increase of 2.3% and beat the market expectation of 0.2% by a wide margin.
On a yearly basis, Industrial Production contracted by 0.6% in November despite the upsurge witnessed toward the end of 2020.
Market reaction
This report doesn’t seem to be having a significant impact on the shared currency’s performance against its rivals. As of writing, the EUR/USD pair was down 0.18% on the day at 1.2186.
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