EUR/GBP Holds Losses Near 0.8585 After Weak German Industrial Production

EUR/GBP loses ground to around 0.8585 in early European trade on Monday after soft German industrial production.

Destatis showed July industrial production −1.1% month on month. Primary consensus on this page is +0.3%. The Destatis-side forecast on the broader tape is +0.1%. Both are quoted. They are not averaged. The prior month was revised to 0.0% from +0.2%. Year on year, activity fell 1.6% in July versus a 0.5% decline in June on the same page.

The ECB is widely expected to raise the deposit rate by 25 bp from 2.25% to 2.5% on Thursday — Capital Economics’ Andrew Kenningham on this wire: the governing council “looks certain” to do so.

For the Destatis print and the EUR/USD reaction, see German IP July miss and EUR/USD ~1.1610.

Eurozone Sentix Investor Confidence at 5.1 in September is a separate sentiment print — distinct from this German IP / EUR reaction tape.

Eurozone Q2 GDP revised to 0.6% with employment +0.1% is a separate Eurostat print — distinct from this Sentix / German IP / EUR cross tape.

GBP/JPY’s six-month low below 209.00 is a separate yen-cross tape — distinct from this BoJ / Japan / EUR-GBP note.

EUR/JPY’s 1.11% slide toward 179.45 is a separate yen-cross tape — distinct from this EUR / BoJ / euro-area print note.

Informational only. Not trading advice, signals, or a guarantee of any market outcome.