EURUSD is back to falling on Wednesday; the USD is in demand again.
The major currency pair is slightly falling in the middle of the week. The current quote for the instrument is 1.1580.
The statistics published by the Euro Area couldn’t support the Euro. The Industrial Production lost 0.8% m/m in July, the same as in June. The indicator was expected to fall, but only by 0.5% m/m. The components of the report showed reduction of all sectors, excluding capital goods and energy. Durable consumer goods lost 1.9% m/m, while intermediate goods decreased by 0.8% m/m.
The numbers from Italy also were disappointing. The Industrial Production decreased by 1.8% m/m in July after adding 0.3% m/m in the previous month and against the expected reading of -0.4% m/m. Capital goods lost 2.2% m/m, intermediate goods were -1.2%, and energy decreased by 0.8% m/m.
Later in the afternoon, investors will be focused on the statistics from the USA: the country is scheduled to report on the PPI and the Core PPI in August, as well as publish the Beige Book. In addition to that, FOMC Member Lael Brainard is expected to deliver a speech.