German industrial production fell 1% in the monthly reading for April, disappointing market expectations, which expected a rise of 0.7%. In March, the indicator rose 2.2% (revised down from 2.5%).
The annual industrial production, on the other hand, has shot up 26.4% in April, greatly improving the 4.8% increase seen in March. This is the highest recorded rise in history.
EUR / USD reaction
EUR / USD has risen about 10 pips after the release, rising to the 1.2185 zone after previously falling to daily lows at 1.2176. At time of writing, the pair is trading above 1.2181, shedding a slight 0.05% daily.
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