According to the recent report released by Eurostat, the Eurozone’s industrial production showed some strength in January 2016, Market leader reports. In particular, the figures got 2.1% stronger over the reporting period relative to a 0.5% drop a month before. That’s a pretty strong gain in 4 weeks, experts say, especially as January’s figures exceeded the 1,7% forecast made by the expert community.
At the same time, Market Leader reports that January’s performance has been the strongest one since September 2009. Meanwhile, the annual gains were equal to 2,8% for the Eurozone and 2.55 for the EU in January 2016 relative to January 2015. It should be noted that the forecast fro the EU was at 1.4% in January after December’s 0.1% drop. Well, it seems that all the figures came out stronger than the previous ones and exceeded all expectations.
FOREX
In the meantime, Masterforex-V Academy reports that the common European currency is still going flat against the U.S. Dollar within a pretty wide price range. At this point, the currency pair is somewhere around 1,1085.
The closest levels of support are the local low of 1,0821 as well as MF pivot 1.0716.
The closest level of resistance is the local high of 1,1375.
