German Industrial Production declines 1.3% MoM in February vs. -1.1% expected

Dhwani Mehta FXStreet

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.

GBP/USD stays offered near 1.3370

GBP/USD remains on the back foot, slipping back toward the 1.3370 zone on Tuesday. Cable has come under pressure soon after testing the 1.3400 neighbourhood as investors turned more cautious in response to renewed effervescence on the geopolitical front.

EUR/USD stays offered below 1.1450

EUR/USD remains on the back foot ahead of the opening bell in Asia, returning to the low-1.1400s on the back of the resurgence of the demand for the US Dollar. Indeed, renewed jitters in the Middle East support the safe haven universe and weigh on the sentiment surrounding the risk complex. Moving forward, investors’ attention should shift to Wednesday’s FOMC Minutes.

Gold weakens toward $4,100

Gold adds to Monday’s decent pullback and trades close to the $4,100 mark per troy ounce on Tuesday. In the meantime, fresh geopolitical effervescence appear to have reignited inflation concerns, which in turn, limit any recovery attempt from the precious metal.

Ondo launches Perps with 20x leverage on tokenized stocks

Ondo Finance has expanded its financial services suite to include perpetual futures contracts for tokenized stocks. The platform, referred to as Ondo Perps, will provide 24/7 trading and over 20x leverage, utilizing tokenized stocks as collateral.

Bye, forward guidance: How to trade when central banks choose silence

Central banks have spent years telling markets what might come next. Now, traders face the possibility that they say a lot less. From the Federal Reserve to the European Central Bank and the Bank of England, policymakers are pushing back against forward guidance, arguing that the current world demands more flexibility.