{"id":105822,"date":"2020-10-14T09:00:49","date_gmt":"2020-10-14T08:00:49","guid":{"rendered":"https:\/\/currencylive.com\/news\/?p=105822"},"modified":"2020-10-14T09:01:40","modified_gmt":"2020-10-14T08:01:40","slug":"104538-eur-usd-euro-under-pressure-ahead-of-industrial-production-data","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/104538-eur-usd-euro-under-pressure-ahead-of-industrial-production-data\/","title":{"rendered":"EUR\/USD: Euro Under Pressure Ahead of Industrial Production Data"},"content":{"rendered":"<ul>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/eur-euro-live-exchange-rate\/\">Euro<\/a> (EUR) dropped in risk off trade yesterday after covid concerns hit investor sentiment<\/strong><\/li>\n<li><strong>Eurozone industrial production data up next<\/strong><\/li>\n<li><strong><a href=\"https:\/\/currencylive.com\/exchange-rate\/usd-us-dollar-live-exchange-rate\/\">US Dollar<\/a> (USD) is boosted by safe haven flows amid vaccine disappointment<\/strong><\/li>\n<li><strong>US fiscal stimulus looks a long way off<\/strong><\/li>\n<\/ul>\n<p>The Euro US Dollar (<a href=\"https:\/\/currencylive.com\/exchange-rate\/\">EUR\/USD<\/a>) exchange rate is extending losses for a third day on Wednesday. The pair settled down -0.6% in the previous session at US$1.1744, around the low of the day. At 07:15 UTC, EUR\/USD trades -0.08% at US$1.1735.<\/p>\n<p>The Euro was under pressure in the previous session and slipped to a one week low as risk aversion dominated trade. Dismal German ZEW Economic Sentiment data showed that rising covid cases and not trade deal Brexit fears were increasing uncertainty over the outlook for investors in the Eurozone\u2019s largest economy.<\/p>\n<p>German inflation data also confirmed disinflation of -0.2% year on year in September adding to concerns over lacklustre inflation in the Eurozone.<\/p>\n<p>Attention will now turn to industrial production data which is expected to show a 0.8% increase month on month in August, a stark slow down in growth from July\u2019s 4.1% month on month jump. Prior to that European Central Bank President Christine Lagarde is due to speak and could drive the Euro.<\/p>\n<p>Safe haven flows into the US Dollar surged in the previous session after not just one but two lots of disappointing vaccine news. First Johnson &amp; Johnson announced that they were pausing their covid vaccine candidate vaccine trial owing to a participants\u2019 unexplained illness. Then later in the day, Eli Lilly &amp; Co announced that it too is pausing the clinical trial of its covid antibody treatment on safety concerns.<\/p>\n<p>Also boosting the US Dollar is the lack of progress towards a US fiscal stimulus bill. It would appear that there is little hope of a deal being achieved before the elections after the Democrats latest proposal falls short of expectations.<\/p>\n<p>Looking ahead the US economic calendar is relatively quiet with just producer price index data which will shed light on inflation at wholesale level.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Euro (EUR) dropped in risk off trade yesterday after covid concerns hit investor sentiment Eurozone industrial production data up next US Dollar (USD) is boosted by safe haven flows amid vaccine disappointment US fiscal stimulus looks a long way off The Euro US Dollar (EUR\/USD) exchange rate is extending losses for a third day on [&hellip;]<\/p>\n","protected":false},"author":163946597,"featured_media":4996,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1380,1381],"tags":[1395,1393,1525,1397,1398,2695],"class_list":{"0":"post-105822","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-us-dollar","13":"tag-usd","14":"tag-vaccine"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - 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