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German Industrial Production down by 0.5%

Wednesday, Apr 06 2016
In February 2016,production in industry in Germany was down by 0.5% 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 predicting 1.8% decrease. In January 2016, the corrected figure shows an increase of 2.3% (primary +3.3%) from December 2015.
In February 2016, production in industry excluding energy and construction was down by 0.5%. Within industry, the production of capital goods and the production of consumer goods decreased by 1.0%. The production of intermediate goods showed an increase of 0.1%. Energy production was down by 1.8% in February 2016 and the production in construction increased by 1.3%. 
 
Euro is currently being traded few points below 1.1350 level. Pair is likely to find support around 1.13 handle and resistance above 1.1430 level. Later today, in the US session, FOMC Meeting Minutes are scheduled for a release.
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