US industrial production fell 0.6% in November, slightly less than then the 0.7% drop anticipated. This data won’t likely knock the market off stride.
US equities look set to open firmer this morning with the dollar perhaps one catalyst for the gains, as well as the overseas upside moves. As the dollar strengthened dramatically earlier in the fall, US-based multinational firms took a big earnings hit as their foreign operations produced fewer dollars when converted back to greenbacks. The recent dollar reversal takes that additional pressure off of earnings. Now firms juts have to deal with crappy sales.
EUR/USD has its focus on the 1.3600/10 area with more momentum buying expected of 1.3610 is cleared.
