BREAKING: German industrial production slightly stronger than expected

German Industrial production in July came in -4.1% YoY vs -4.2% exp. and -6.67% previously (1.4% MoM vs 1% exp and -2.5% previously)

• German export dropped -3.4% MoM in July vs -1.5% exp. and -3.6% previously
• German imports came in 0.3% MoM vs 2.5 exp. and -6.6% previously
• Trade balance (seasonally adjusted) came in 20.4B vs 21.5B exp. and 24.9B previously

EURUSD slightly declines after the Germany data. Surprise in industrial production was quite low, while lower than expected imports suggest cooling demand in Germany economy, while much weaker than expected exports signal overall cooling demand for German goods, across the global markets.

Source: xStation5