Release Explanation: Measures of the total value of the output from mines, industrial factories and utilities is in the Industrial read. High production numbers usually denote an economy in an upward trend, or growth period. These reports are reactive to change and are well respected.
Trade Desk Thoughts: Industrial production fell in November in the Euro-area by 1.6%, less than the market had expected. Compared with one year ago, industrial production is down by 7.7%, from -5.7% in October. Monthly data shows that energy production fell by 1.5%; intermediate goods decreased 2.8%; non-durable consumer goods grew 0.1%, while durable consumer goods tumbled 2.4%.
Forex Technical Reaction: The euro rose 35 pips after the news release went public. The euro fell nearly 90 pips during the European session, shedding most of the gains the pair made in the Asian session.