Germany has published industrial production data that influenced the movement of EURUSD during trading on Thursday (January 9, 2025).
The industrial production for November showed an increase of 1.5% month-on-month (MoM), surpassing the พยากรณ์ of 0.8% and recovering from a decline of 1% in the previous month.
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Following this release, EURUSD climbed above 1.03000, distancing itself from the daily low of 1.02970.
Currently, EURUSD is hovering near its lowest level since November 2022 due to the sluggish economic performance in the eurozone. This situation leads market participants to speculate that the European Central Bank (ECB) may cut interest rates more aggressively than the Federal Reserve this year.
Therefore, the publication of data indicating an improvement in economic conditions could generate positive sentiment towards EURUSD.
