German Industrial Production up more than expected
In April 2015, German production in industry was up by 0.9% from the previous month on a price, seasonally and working day adjusted basis,thus beating forecasts on 0.6% incline. In March 2015, the corrected figure shows a decrease of 0.4% (primary –0.5%) from February 2015.
In April 2015, production in industry excluding energy and construction was up by 0.7%. Within industry, the production of capital goods increased by 1.5% and the production of intermediate goods by 0.7%. An decrease of production was recorded for consumer goods (0.9%). Energy production was up by 1.4% in April 2015, while the production in construction increased by 1.3%.
Euro initially fell, but easily rebounded and is currently being traded few points above 1.1150 level. Pair is likely to find support around 1.11 area and resistance above 1.1180 level. There will be no major data releases in the rest of the session.
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