Latest German ind prod data now out

  • +1.2% prev revised up from 0.7%
  • yy WDA +2.3% vs +3.3% exp vs +0.8% prev revised up from +0.5%

Weaker headlines partly compensated by better revisions leaves EURUSD on session lows of 1.1257

Fastest rate of ind prod decline since Aug 2014

The German ministry says:

"The unfavourable constellation of the summer holidays contributed significantly to the fall in output"

Clutching at straws somewhat methinks