The Euro is seeing gains across the major currency board amidst US market holiday.
European Industrial Production declined in November, but it was still highest print in three months.
ECB President Lagarde due to appear several times at Davos World Economic Forum.
The Euro (EUR) is in the green against its major currency pairs, taking top spot as one of the best-performing currencies in Monday trading. Despite broad-base recovery momentum behind the Euro, the US Dollar (USD) is giving only slim ground up to the EUR on Monday, with US markets shuttered in observance of Martin Luther King Day.
European Industrial Production declined again in November, but no less than market forecasts were expecting, and this week’s major data threat for EUR traders will be a smattering of appearances by European Central Bank (ECB) President Christine Lagarde at the World Economic Forum hosted in Davos, Switzerland.
Daily digest market movers: Euro wins the Monday market as it turns green across the board
Euro is broadly higher against the rest of the major currencies for Monday trading.
European Industrial Production in November declined as much as expected, hitting a three-month high of -0.3% compared to the previous month’s -0.7%.
The unadjusted euro area Trade Balance rose to an eight-month high of €20.3 billion in November compared to the previous month’s €11.4 billion as declines in Imports outpace shrinking Exports.
Intra-euro area trade also fell in November by 9.4% YoY.
Final Harmonized Index of Consumer Prices (HICP) figures due on Wednesday.
US Retail Sales data due in the mid-week, markets hoping for an uptick from 0.3% to 0.4% MoM in December.
ECB President Lagarde due to make several appearances at the World Economic Forum in Davos.
ECB President Lagarde will participate in a town hall titled “How to Trust Economics” on Wednesday, followed by Thursday’s "Uniting Europe's Markets" panel discussion.
Friday rounds out President Lagarde’s appearances with her participation in another panel discussion titled “The Global Economic Outlook
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