EUR/USD extended its drop for the third consecutive session today as industrial production in European countries, including France and Italy, declined and German’s inflation stalled. The data spurred talks that the European economic conditions continue to worsen. US data was completely opposite as it hinted on improving economy.
Import prices rose 0.5% in October, while no change was expected. The September rate of growth was 1.1%. Export prices remained unchanged last month, following the 0.8% in the preceding month. (Event A on the chart.)
Michigan Sentiment Index was at 84.9 in November, according to the preliminary estimate, while it was expected to stay at the October level of 82.6. (Event B on the chart.)
Wholesale inventories grew 1.1% in September, compared to analysts’ expectations of 0.4% growth. The August change was revised up from 0.5% to 0.8%. (Event B on the chart.)
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