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EUR/USD edges a little higher as more German data awaits shortly
Yesterday we saw further stark evidence of just how weak the German economy is right now. The latest factory orders simply fell off a cliff. That data helped to subdue the Euro even more versus the dollar, not that it needed much of an excuse after the blowout US jobs report on Friday. Perhaps the surprising thing is the Euro did not fall even further yesterday morning after that German data. Well, shortly we get some more data out of Germany. At 6am GMT we have the August industrial production numbers. This is expected to show a rebound though, by approximately 0.8%, compared to a fall in July of 2.4%. So, we shall see how that shows up shortly. Meantime, the EUR/USD has traded a range since this time yesterday, covered by 1.0954 to 1.0987, with the high being seen a short while ago this morning. The EUR/USD closed in the US last night at 1.0976. It is currently trading at 1.0982
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