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
