German Industrial Production declines 1.3% MoM in February vs. -1.1% expected
Germany’s industrial sector returned to contraction in February, according to the latest data published by Destatis on Monday.
In the Eurozone’s economic powerhouse, Industrial Output dropped 1.3% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, against the expected 1.1% decline and a 2% rebound in January.
German Industrial Production plunged 4% year-over-year (YoY) in February versus January’s -1.6%.
Separately, Germany’s Trade Balance for February came in at EUR17.7 billion versus EUR17.8 billion expected and EUR16 billion previous.
EUR/USD reaction to the German Industrial Production data
EUR/USD finds fresh buyers despite the mixed German data, trading 0.51% higher on the day at 1.1010 at the press time.
Euro PRICE Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.44% | -0.27% | 0.29% | -0.26% | 0.40% | 0.26% | -0.35% | |
| EUR | 0.44% | 0.46% | 1.30% | 0.81% | 0.78% | 1.34% | 0.71% | |
| GBP | 0.27% | -0.46% | -0.45% | 0.35% | 0.32% | 0.88% | 0.25% | |
| JPY | -0.29% | -1.30% | 0.45% | -0.45% | 1.15% | 1.30% | -0.23% | |
| CAD | 0.26% | -0.81% | -0.35% | 0.45% | 0.31% | 0.52% | -0.37% | |
| AUD | -0.40% | -0.78% | -0.32% | -1.15% | -0.31% | 0.56% | -0.07% | |
| NZD | -0.26% | -1.34% | -0.88% | -1.30% | -0.52% | -0.56% | -0.62% | |
| CHF | 0.35% | -0.71% | -0.25% | 0.23% | 0.37% | 0.07% | 0.62% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
