Euro area industrial production output likely to have dropped in September

The euro area industrial production data for the month of September is set to be released this week. In the prior month, industrial sector in the currency bloc was comparatively strong, growing 1.4 percent on sequential basis. This result was reflected in the preliminary GDP release for the third quarter of 2017, which was stronger than the consensus expectations. But according to consensus expectation, the industrial activity output is expected to have dropped 0.4 percent in the month on sequential terms.

The euro area is also set to release the ZEW expectations survey for the month of November. The index had dropped in October to 26.7. Moreover, the index softened slightly in the third quarter as compared to the second quarter and began on a weak note in the fourth quarter. Therefore, a rebound in expectations in November might be an optimistic sign for the remainder of the year, noted Wells Fargo in a research report.

At 16:00 GMT the FxWirePro's Hourly Strength Index of Euro was highly bullish at 112.36, while the FxWirePro's Hourly Strength Index of US Dollar was neutral at -3.17713. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

FxWirePro launches Absolute Return Managed Program. For more details, visit http://www.fxwirepro.com/invest