EUR/USD rose from its monthly low today — for the first time this week — after the U.S. reports on CPI and industrial production failed to meet the traders extremely pessimistic expectations. The better outcome for the U.S. economy means a better outcome for the global economy, which is good for such currencies as the euro. EUR/USD is currently trading near 1.3281.
CPI (seasonally adjusted) decreased by 0.7% in December after losing 1.7% a month earlier. The market analysts expected that the consumer prices will fall by 1% that month.
Industrial production continued to fall in U.S. last month — it lost 2% after falling by 1.3% in November — thats far worse than the forecasts 0.8% decline. Capacity utilization dropped from 75.2% to 73.6%, while a drop to just 74.7% was expected for December.
