The major currency pair is falling in Friday after the German statistics.
On Friday afternoon, EURUSD is trading to the downside after Germany and the Euro Area published several macroeconomic repots. The current quote for the instrument is 1.1608.
Numbers from Germany left the Euro defenseless. The Industrial Production lost 1.1% m/m in July after decreasing by 0.7% m/m in the previous month and against the expected reading of +0.2% m/m. According to Destatis, the German economy is obviously suffering from the US protectionist policy in trade area. On YoY, the Industrial Production added 1.1% against the expected reading of +2.6%.
The components of the Balance of Trade report show that the Export (seasonally adjusted) lost 0.9 m/m in July, which the Import added 2.8% m/m. This could also be the result of the trade policy pursued by the USA these days.
The Euro Area reported on the revised GDP and the reading barely impressed investors. In the second quarter, the region’s economy expanded by 0.4% q/q. On YoY, it added +2.1%, which is worse than the previous estimation and the expected reading (+2.2%).
Now investors’ attention will switch to the American statistics: the USA are scheduled to report on the labor market in August.