Trade Desk Thoughts - German Industrial Production

German Industrial Production Actual 3.4%, Expected -0.2%, Previous -1.6% (Revised from -1.8%)

Release Explanation: Measures the the total value of the output from mines, industrial factories and utilities is in the Industrial read. The value of manufactured goods is in the Manufacturing read. The Shipment number covers the amount sent abroad. Capacity Utilization cover at what rate Factories are running at compared to the maximum.

Trade Desk Thoughts: Industrial production had surged in the month of August in Germany, up by 3.4% from one month earlier. The market expected a read of -0.2%. Year over year, industrial production had rose by 1.7%, however, in non-adjusted terms, industrial production fell by 4.7 from one year earlier.

Forex Technical Reaction: The euro traded very eratic after the news item was released, moving more than 40 pips. The pair continues to trade along the neutral pivot point (1.3615)

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