EUR/USD Slips on Softer Eurozone Industrial Productions, Higher Oil Keeps ECB Rate Bets Alive
The euro slipped against the US dollar on Wednesday after Eurozone industrial production fell 0.2%, measured on a monthly basis, in May against expectations of a 0.2% rise, while higher oil prices kept expectations of another ECB rate hike intact, limiting the euro's losses. On a yearly basis, industrial production dropped 1.20% in May, compared with 0.4% growth in April. In Wednesday's G10 trading, the euro showed mixed performance among other currencies. The next mild highlights for the euro will be the Balance of Trade for May, due on Thursday. For the USD, the major events will be the Producer Prices Index data for June and testimony of the Federal Reserve Chair, Kevin Warsh, due later on Wednesday. The EUR/USD pair was trading at 1.14168, inching down 0.04% during Wednesday's European session at the time of writing.
The euro slipped against the US dollar on Wednesday after Eurozone industrial production fell 0.2%, measured on a monthly basis, in May against expectations of a 0.2% rise, while higher oil prices kept expectations of another ECB rate hike intact, limiting the euro's losses.
On a yearly basis, industrial production dropped 1.20% in May, compared with 0.4% growth in April.
In Wednesday's G10 trading, the euro showed mixed performance among other currencies.
The next mild highlights for the euro will be the Balance of Trade for May, due on Thursday.
For the USD, the major events will be the Producer Prices Index data for June and testimony of the Federal Reserve Chair, Kevin Warsh, due later on Wednesday.
The EUR/USD pair was trading at 1.14168, inching down 0.04% during Wednesday's European session at the time of writing.