EUR/USD declines despite strong Eurozone industrial data

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (London) - EUR/USD has declined on the session in quiet trading, despite better-than-expected Eurozone data.



According to European Union statistical agency, Eurostat, seasonally adjusted industrial production rose by 0.8 percent in the 18-member Euro area in April and 0.7 percent in the 28-member European Union. This follows a In March industrial production decline of 0.4 percent and 0.3 percent respectively.



Year-on-year industrial production grew by 1.4 percent in the euro area and by 2.1 percent in the 28-member European Union.



The main gains came from production of non-durable consumer goods rising by 5.0 percent, intermediate goods by 3.4 percent, durable consumer goods by 1.0 percent and capital goods by 0.3 percent, while energy fell by 6.7 percent.



The industrial production data came in at twice the consensus-expected 0.4 percent ride and raises hopes of stronger second quarter Eurozone GDP numbers.



EUR/USD has declined 0.06 percent to USD1.3525, declining from a session high ofUSD1,3548.



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