With everyone waiting for the release of inflation data this week, the EUR/USD has been stuck in a very tight range over the past few days. Today it was hit by news out of Germany, where industrial production unexpectedly fell 0.7% month-over-month, adding to the 0.4% decline recorded in the month prior. The data points to the Eurozone’s largest economy heading towards a technical recession. The data does help increase the likelihood of a sooner-than-expected rate cut by the ECB. Still, the stronger direction is going to come from the USD side of the equation. Key inflation data should trigger a sharp move in latter ... (full story)