Industrial output remained under downward pressure in February, falling 1.4% versus expectations of a 1.1%. Capacity use dipped to 70.9%
Combined with the TIC data, risk aversion could be renewed today. It is interesting to note that the dollar rallied for much of the month of January, a time when flows were deciciedly dollar negative. Odd, to say the least.
EUR/USD trades now at 1.3038.
