German Industrial Production rises 0.2% MoM in June, beats 0.1% estimates

Sagar Dua FXStreet

Germany’s Industrial Production rises 0.2% Month-on-Month (MoM) in June, the latest data published by Destatis showed on Friday. The growth was faster than the 0.1% estimate, but slower than the previous reading of 0.7%, revised lower from 0.9%.

Industrial sector activity, in the Eurozone’s economic powerhouse, fell by 0.1% Year-on-Year (YoY) in June, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, after remaining flat in May.

Market reaction

A mild selling pressure is seen in the Euro (EUR) following the German Industrial Production data release. At press time, EUR/USD edges down to near 1.1520.

Economic Indicator

Industrial Production s.a. (MoM)

The Industrial Production released by the Statistisches Bundesamt Deutschland measures outputs of the German factories and mines. Changes in industrial production are widely followed as a major indicator of strength in the manufacturing sector. A high reading is seen as positive (or bullish) for the EUR, whereas a low reading is seen as negative (or bearish).

GBP/USD hovers around 1.3450 amid renewed Mideast tensions

GBP/USD remains defensive around 1.3450 in the European session on Friday, undermined by a broadly resilient US Dollar. The Middle East uncertainty is back in play, keeping the haven demand for the Greenback intact ahead of the all-important US Nonfarm Payrolls (NFP) data release.

EUR/USD flatlines above 1.1500 ahead of US NFP

EUR/USD keeps its range above 1.1500 in European trading on Friday, as the US Dollar consolidates the recent recovery, following renewed tensions in the Middle East and on the Strait of Hormuz reopening. Traders now eagerly await the July US Nonfarm Payrolls (NFP) report for a clear directional impetus.

How Wall Street rigs the game [Video]

In this week’s Live from the Vault, Andrew Maguire is joined by Peter Antico and Sean Stone to discuss the Paradigm of Money - an in-depth expose of financial market corruption, from naked shorting to the two-tier system that protects Wall Street.

US Senate delays Clarity Act vote – Cardano and LayerZero lead gains

Bitcoin price holds steady above $64,000 with the 50-day Exponential Moving Average at $64,637 capping gains. The US Senate has delayed the floor vote for the Crypto Clarity Act after the summer recess, starting Monday. Cardano and LayerZero hold gains from the previous day's rebound, outperforming top altcoins over the last 24 hours.

July’s US employment report to shake the markets

USD edged higher yesterday, as media reports pointed towards a potential rate hike by the Fed in September. Today, we focus on the release of July’s US employment report. The NFP figure is expected to rise, and the unemployment rate to remain unchanged.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.