Euro zone June industrial output has come in at -0.6% m/m, -17.0% y/y, weaker than median forecasts of +0.2% and -16.4% respectively.
May’s data was revised to +0.6% m/m from initial +0.5%, and -17.6% y/y from initial -17.0%.
The weaker than expected data hasn’t impacted negatively though, with EUR/USD ticking higher, presently at 1.4130.
European stocks, S&P futures have continued to recover and that’s what’s driving things.
