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German trade and industrial production data data better than forecast- EUR/USD yet to react
Another batch of German economic data has just been released. This time it is on trade and industrial production. That was expected to rise by 0.5%. It has actually risen by 1.5% in November and the trade balance is much higher than forecast too, rising to 19.7 billion Euros in the same month. It was forecast to be at 14.5 billion. However, the EUR/USD has not really reacted to this positive data though and seeming held in check by the GBP/USD, which has now fallen below that 1.23 handle. Even with the EUR/GBP lifting to fresh session highs above 0.8370, the EUR/USD is yet to advance at all. Perhaps it will, but confidence on any lasting recovery is low right now. The EUR/USD is currently trading at 1.0303
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