020 7898 0500The euro fell on Wednesday against both the US dollar and sterling, thanks to the release of data that highlighted a fall for German industrial production at the fastest rate we have seen for a year. The German industrial output fell 1.2% from last month’s figure, despite the forecast of a small 0.2% increase. This was the steepest drop since August 2014, and added to concerns that a slowdown in global growth is spreading to the largest economy in Europe; this has become a real concern for the Eurozone as whole.
Trade balance for Germany was released this morning, but other than that we should expect a quiet day for the euro as it is likely to be affected by the Monetary Policy Committee (MPC) minutes from the UK.
