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  • Industrial production down by 2.5% in euro area

    From europa.eu Story is in PDF Format

    In September 2012 compared with August 2012, seasonally adjusted industrial production fell by 2.5% in the euro area (EA17) and by 2.3% in the EU272, according to estimates released by Eurostat, the statistical office of the European Union. In August production increased by 0.9% and 0.5% respectively. In September 2012 compared with September 2011, industrial production dropped by 2.3% in the euro area and by 2.7% in the EU27. In September 2012 compared with August 2012, production of durable consumer goods fell by 4.3% in the euro area and by 3.7% in the EU27. Capital goods decreased by 3.0% and 2.6% respectively. ... (full story)

probably good news for EUR/USD - go nord :-)
lol.everything goes down..they need much more weaker euro and for sure rate cut
Early to bed, early to rise, keeps you healthy, wealthy and wise.
lmao--that's the bad news moving eur? eur has started its voyage with bad news...lets wait and see what NY session has to say...good change to stockpile the the SHORTS!
There is always a price for promises you don't keep!
There definitely have been some big fat market movers at work moving it up a bit. A weaker Euro is indeed needed for the next few years just to have at least some export benefits to make up for the rest of it.
Euro was "oversold" short-term and seems only logical some would be taking profit at this point - while "news" driving pairs seems "logical" quite frankly there are other far more appropriate explanations - since indeed one saw this and said at least two days back. Will not tire of saying it - news is noise in direction and coincident to moves a lot (if not most) of the time.
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This should make euro stronger because euro is dysfunctional
Quoting Guest
This should make euro stronger because euro is dysfunctional
Dysfunctional only if you use extraneous events (such as "news" and "fundamentals") as a measure of it's pattern of movements. However, if you view it as the commodity it is and consider that it is in mean reverting market - things get clearer and in indeed it is getting weaker as we speak (in the short-term at least). But in line with perceptions not easily explained by "news" or "fundamentals". But given mean reversion there is a case for some upside beyond this time - say within the week - before we resume the slide given the longer-term weakness seen in the pair on that basis.
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