Today, the euro continues falling against the US dollar despite strong macroeconomic reports, The German Federal Statistical Office released the industrial production report for November. It showed a rise in the output of 3.4% versus the previous decrease of 1.2%. Analysts expected the production to expand at a slower pace of 1.9%. Moreover, the production growth accelerated to the 8-year high. Besides, the foreign trade statistics were also upbeat. The trade surplus rose to 22 billion 300 million euros from the previous level of 19 billion 900 euros.
Meanwhile, the unemployment rate in the eurozone decreased to 8.7% from 8.8% in November. This result came in line with market expectations. However, bears on EUR/USD pair maintained control. The most traded currency pair is hovering near the level of 1.1920. Market participants are expecting publication of the ECB monetary policy minutes on Thursday. However, most analysts predict that the euro will dip lower against its American counterpart as the minutes are likely to be dovish.
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