German Industrial Output falls unexpectedly

Wednesday, 8 June 2011 02:26

As the Euro opened high at 1.4693 against the U.S Dollar; a volatile nature was observed throughout the day as the pair jumped from the opening high to 1.4650 before gaining again to 1.4570; only to fall again after euro nation news that Germany's Industrial Output was released lower than expected.  EUR/USD fell to 1.4622 shortly after the announcement. 

Industrial Output in Germany fell from the previous month's 1.2% to -0.6; while expectations rallied at 0.1%.  This is the first time in four months that German Industrial Production falls.

Just before German news release, the Euro Area Gross Domestic Product remained unchanged up at 0.8%. 

EUR/GBP is currently trading at 0.8932.