Euro area industrial production likely to have come in flat in July

The euro area economy expanded at a healthy clip in the second quarter by rising 0.6 percent on a sequential basis and by an upwardly revised 2.3 percent on a year-on-year basis. Moreover, some forward momentum on the Markit manufacturing PMI, which came in at 57.4 in August, matching the highest reading for the series recorded in June of 2017.

Meanwhile, the European Central Bank kept the monetary policy on hold. In June, the euro area industrial production had dropped 0.6 percent following a very strong print of 1.2 percent in May. Therefore, markets will be anticipating if the industrial production index rebounds in July to see if the economy kept its momentum at the beginning of the third quarter.

According to consensus expectations, euro area industrial production is expected to have come in at 0 percent in July on sequential basis.

At 22:00 GMT the FxWirePro's Hourly Strength Index of Euro was neutral at 1.42637, while the FxWirePro's Hourly Strength Index of US Dollar was neutral at -11.3351. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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