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Dear traders,
Better-than-expected European data were not enough to prevent the common currency from extending its latest decline, now trading at fresh 2-week lows against the American dollar, around 1.1930. German Industrial production rose in November by more than expected, up 3.4% in the month, from -1.4% MoM in October, the strongest monthly increase since September 2009. Yearly basis, industrial production was up by 5.6%, doubling the previous reading. The country's trade balance posted a €22.3B surplus, with a strong advance both in exports and imports. The greenback is firming up across the board against all of its major rivals, trading higher daily basis against all of its major rivals except the yen.
Good trading!
Better-than-expected European data were not enough to prevent the common currency from extending its latest decline, now trading at fresh 2-week lows against the American dollar, around 1.1930. German Industrial production rose in November by more than expected, up 3.4% in the month, from -1.4% MoM in October, the strongest monthly increase since September 2009. Yearly basis, industrial production was up by 5.6%, doubling the previous reading. The country's trade balance posted a €22.3B surplus, with a strong advance both in exports and imports. The greenback is firming up across the board against all of its major rivals, trading higher daily basis against all of its major rivals except the yen.
Good trading!
