Industrial Production m/m (EUR) comes in at -0.1% against 0.1% consensus

Eurozone Industrial Production month over month was reported at -0.1%. This figure came in below the consensus estimate of 0.1%, marking a -200.0% surprise against expectations. The previous month’s Industrial Production reading was 0%.

Following the release, EUR currency pairs showed varied reactions in the initial 15 minutes. EURUSD moved -1.6 pips five minutes after the data, then traded +1.8 pips higher 15 minutes post-release. This 15-minute move is small compared to the EURUSD median 1-hour move of 5 pips after past releases. EURNZD saw a +3.9 pip move five minutes after the release, extending to +12 pips 15 minutes later. This move exceeded the EURNZD median 1-hour move of 10 pips after past releases. Other EUR pairs, including EURAUD, EURCAD, EURCHF, EURGBP, and EURJPY, showed relatively small movements in the 15 minutes following the report compared to their typical median 1-hour moves.