{"id":105647,"date":"2020-10-07T09:11:56","date_gmt":"2020-10-07T08:11:56","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=105647"},"modified":"2020-10-07T09:15:13","modified_gmt":"2020-10-07T08:15:13","slug":"104476-eur-usd-euro-rises-despite-german-industrial-production-unexpectedly-falling","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104476-eur-usd-euro-rises-despite-german-industrial-production-unexpectedly-falling\/","title":{"rendered":"EUR\/USD: Euro Rises Despite German Industrial Production Unexpectedly Falling"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-euro-live-exchange-rate\/\">Euro<\/a> (EUR) rises despite concerns over the shaky economic recovery<\/strong><\/li>\n<li><strong>German industrial production -0.2% MoM Aug vs +1.2% in July<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) eases back as mood calms following Trumps tweet postponing stimulus talks<\/strong><\/li>\n<li><strong>Minutes from latest FOMC meeting due later<\/strong><\/li>\n<\/ul>\n<p>The Euro US Dollar (<a href=\"https:\/\/currencylive.com\/exchange-rate\/\">EUR\/USD<\/a>) exchange rate is clawing higher paring losses from the previous session. The pair settled -0.4% lower on Tuesday at US$1.1738, close to the session low. At 07:15 UTC, EUR\/USD trades +0.17% at US$1.1753.<\/p>\n<p>The Euro is shrugging of weak German industrial production data and rising covid cases on Wednesday. As highlighted by the European Central Bank President Christine Lagarde, the rising number of covid infections in Europe risks hampering the economic recovery in the bloc. However, on a positive note, Spain and Italy, which had been experiencing a second wave are seeing signs of the resurgence flatten. Christine Lagarde believes that the economic recovery in the bloc will not be V-shaped but shaky.<\/p>\n<p>This was reflected in German industrial production which unexpectedly declined -0.2% month on month in August after rising 1.2% in July. Analysts had expected industrial production to rise 1.5%. The weak numbers come after factory orders and retail sales smashed forecasts, highlighting the volatility of the economic recovery.<\/p>\n<p>There is no further economic data from the Eurozone due for release today. Investors will look towards a speech from ECB President Christine Lagarde for further impetus.<\/p>\n<p>The US Dollar is easing lower after safe haven flows drove the greenback higher versus its peers in the previous session. Trump tweeted that he was ending fiscal stimulus talks between Democrats and Republicans until after the elections.<\/p>\n<p>The market\u2019s initial reaction was a risk off response. Riskier assets such as stocks dropped whilst the safe haven US Dollar soared. However, as Trump attempted to back pedal slightly, the market nerves calmed.<\/p>\n<p>Also supporting the mood in the market US Federal Reserve Chair Jerome Piowell sat firmly on the other side of the fence to Trump saying that more stimulus was needed.<\/p>\n<p>Attention will turn to the release of the minutes from the latest FOMC\u00a0 meeting for further clues as to whether the Fed will consider increasing its bond buying programme.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Euro (EUR) rises despite concerns over the shaky economic recovery German industrial production -0.2% MoM Aug vs +1.2% in July US Dollar (USD) eases back as mood calms following Trumps tweet postponing stimulus talks Minutes from latest FOMC meeting due later The Euro US Dollar (EUR\/USD) exchange rate is clawing higher paring losses from the [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":5138,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1381],"tags":[1395,1393,1525,1509,1400,1397,1398],"class_list":{"0":"post-105647","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-eur","8":"category-usd","9":"tag-eur","10":"tag-euro","11":"tag-industrial-production","12":"tag-stimulus","13":"tag-trump","14":"tag-us-dollar","15":"tag-usd"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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