- Industrial production in the euro zone contracted sharply in December.
- EUR / USD is holding on to modest daily gains above 1.2130 on Monday.
The data published by Eurostat have shown this Monday that industrial production in the euro zone contracted 1.6% monthly in December. This reading comes after the November expansion of 2.6% and has come in worse than the market’s expectation of a 0.6% decline. On an annual basis, industrial production decreased 0.8% in 2020.
Other euro zone data revealed on Monday that the trade surplus in December widened to € 29.2 billion from € 25.7 billion and exceeded analysts’ estimate of a surplus of 25.3 billion euros.
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