Market Brief January 9th: German Industrial Production is here
The largest cryptocurrency has been dropping for the past couple of weeks. The total decrease of about 17% is associated with news coming from regulators in China and South Korea who are increasingly tightening oversight on digital currency trading as a whole. Additionally, the Securities and Exchange Commission in the U.S. (in the late months of 2017) started to clamp down on some digital coin sales, also know as ICOs, initial coin offerings. It’s no surprise that those events have affected the realm of digital currencies as a whole with the effect of a broader selloff.
EUR 07:00 a.m. GMT, German Industrial Production (MoM) (Nov) – the index measures the change in the total inflation adjusted output produced by miners, manufacturers, and utilities in Germany for the month of November. Projections are for an increase at 1.9% compared to October’s – 1.4%. An actual reading that is higher than expected should be read as bullish for the euro while a lower one should have a negative impact on the currency.
EUR 07:00 a.m. GMT, German Trade Balance (Nov)- Trade Balance measures the difference in value between exported and imported goods for the month of November in the strongest EU economy. Expectations for the month of November show an expected excess of exports over imports, i.e. 20.0B versus previous period’s 19.9B. If today the number beats expectations, this should be seen as a positive factor for the euro, while a much weaker reading would suggest weakness for the common Euro Zone currency.
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