Forex
Euro Holds Steady as German Industrial Production Disappoints
The euro is holding steady against the US dollar on Monday, hovering just above $1.1610 after a brief surge last week.
Data from Germany showed industrial production fell 1.1% in July, missing market expectations of a 0.3% increase and leading to a downward revision of June's reading to 0% from the previously estimated 0.2% rise.
The euro is under pressure due to elevated oil prices amid ongoing tensions in the Middle East, while the dollar index remains supported above 99 amid safe haven demand boosted by last week's US Nonfarm Payrolls figures showing a 162K increase in net employment in August.