EUR/JPY: Industrial Production

The EUR/JPY revealed almost no reaction on the disappointing Euro zone industrial production report. The European single currency lost against the Yen one base point to keep showing the downward trend. However, by the end of the session the pair roared back to the 129.49 area. 

The Eurostat reported that the industrial production in the Euro zone fell 0.6% over the month of June, while analysts anticipated a slightly weaker 0.4% drop. A contraction in the industrial output suggests that the economy across the 19-country bloc  failed to consolidate the healthy growth pace. Moreover, any signs that the Euro zone economic growth is faltering would raise concerns that the European Central Bank is likely to unwind its monetary stimulus.