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Euro broke above 1.13 handle

Friday, Oct 09 2015
Euro broke higher in a less evntful Friday's session, with only minor importance French and Italian Industrial Production figures being released. In August 2015, output bounced back significantly in the manufacturing industry (+2.2% after –1.3% in July) and in the industry as a whole (+1.6% after –1.1% in July). Smaller increase by 0.6% was anticipated. Over the last three months, output diminished in the manufacturing sector (–0.4% q-o-q) whereas it was stable in the overall industry. 
 
Output decreased in other manufacturing (–0.5%), and plummeted in the manufacture of coke and refined petroleum products (–14.9%). Conversely, output increased in the mining, quarrying, energy and water supply (+1.8%), in the manufacture of food products and beverages (+0.7%), and more slightly in the manufacture of electrical and electronic equipment; machine equipment (+0.3%). It remained stable in the manufacture of transport equipment.
 
In August 2015 the seasonally adjusted industrial production index decreased by 0.5% compared with the previous month. Analysts were forecasting 0.3% decline. The percentage change of the average of the last three months with respect to the previous three months was unchanged.The calendar adjusted industrial production index increased by 1.0% compared with August 2014.
 
Euro is currently being traded few points above 1.5370 level. Pair is likely to find support around 1.5330 level and resistance above 1.54 area. There will be no major data releases in the rest of the session.
More in this category: « UK Trade deficit narrowed less than expected US Import Prices fell 0.1% in September »

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