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Euro Stays Muted As German Industrial Production Slides For Five Months In Row
07-Dec-23   14:18 Hrs IST
Euro stayed muted around 1.0780 against the US dollar after tepid economic data. EURUSD pair has drifted lower over last few days and currently lingers around three week low. Germany's industrial production dipped in October, sliding for a fifth-straight month and reflecting deteriorating environment in the key manufacturing base of Europe's largest economy. Total output dropped 0.4% compared with the previous month, seasonally and on a calendar-adjusted basis, from a 1.3% decline in September. On the year, industrial production slipped by 3.5%. Industrial production in energy-intensive sectors dropped by 1.4% MoM and is down by more than 7% on the year. The NSE EURINR futures are down 0.08% at 89.94 after an early tumble took the futures under 89.80 mark.

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