The EUR/USD currency pair fell significantly today on international economic events even if the U.S. economic data released frustrated most of forecasts, indicating a less optimistic, but still positive performance for industrial production and producer price index. Risk appetite was down favoring the dollar today, as the IMF forecast a slow economic recovery globally. EUR/USD is currently trading at 1.4870.
Producer Price Index (PPI) advanced 0.3% in October reverting its previous month trend when it declined 0.6%. The growth was below forecasts that suggested an increase of 0.6%.
Net long-term purchases of the U.S. securities by the foreign investors reached $40.7 billion in September, jumping from $34.2 billion in the previous monthly reading. This result surprised analysts positively as they excepted the level of purchases to be at $27.3 billion.
Industrial production and capacity utilization rose in October but did not meet traders’ expectations. Production expanded 0.1% from a previous reading showing an increase of 0.6%, and below expectations that suggested a rise of 0.4%. Capacity utilization in the total industry climbed from 70.5% in the previous reading to 70.7%, below forecasts that indicated a rise of 0.4%.
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