Euro slightly higher ahead of NFP figures

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Friday, Aug 07 2015

This morning only minor importance German and French Industrial Production figures were released. In June 2015, German production in industry was down by 1.4% from the previous month on a price, seasonally and working day adjusted basis according to provisional data of the Federal Statistical Office (Destatis). Analysts were anticipating 0.3% increase. In May 2015, the corrected figure shows an increase of 0.2% (primary +0.0%) from April 2015.

Production in industry excluding energy and construction fell by –1.3%. Within industry, the production of capital goods decreased by 2.6%, the production of intermediate goods by 0.3% and the production consumer goods by 0.2%. Energy production was up 2.3% on the previous month while production in construction fell by 4.5%.

French output decreased in the manufacturing industry (–0.7% after +0.7% in May) and was almost stable in the industry as a whole (–0.1% after +0.4% in May). This was also below expectations on 0.3% growth.

Euro is currently being traded few points above 1.0960 level. Pair is likely to find support around 1.09 area and resistance above 1.10 handle. Later today, in the US session,NFP figures are scheduled for a release.

More in this category: « Home Loans rose by 4.4% in June UK Trade Balance deficit widen in June »

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