Industrial production in the Eurozone rose by 0.4% on the month in August. The increase came after two months of declines.
The data for August offset the 0.4% decline from July. The data also beat estimates of a 0.3% increase. Industrial production fell across all sectors except intermediate and capital goods.
EUR/USD Continues to Consolidate at 1.1030
The common currency consolidated near the price level of the 1.1030 region. There is scope for an upside towards the 1.1091 level.
The upside gains will see EURUSD testing this level in the near term. But given the mixed bias, there is scope for the euro to slip lower. The downside support area of 1.0944 could be tested on a bearish decline.
