Euro zone industrial output posted its deepest decline on record in April as coronavirus lockdowns shut down economic activity across the single currency bloc, data from the European Union’s statistics office Eurostat showed on Friday.
The Dollar built on earlier gains Wednesday after inflation figures surprised on the upside for the month of October and as investors grew uneased over White House trade policy in the wake of President Donald Trump's speech to The Economic Club of New York.
Germany’s manufacturing sector remained stuck in recession in October as new orders fell for the 13th month running and factories slashed jobs at the fastest pace in almost 10 years, a survey showed on Monday.
The dollar took a dive against a basket of currencies and the major share indexes opened higher after Fed Chairman Powell's prepared remarks ahead of his testimony whil 2-year yields dropping 7bps in the 5 minutes since the release.
German business sentiment deteriorated in April as the mood among manufacturers "worsened markedly," the Ifo Institute said Wednesday, dampening expectations of an impending pickup in Europe's largest economy.