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EMU: Annual Industrial Production slides 1.3% in January

Year-over-year Eurozone Industrial Production fell by 1.3% in January, following a 1.7% drop in December, Eurostat informed on Wednesday. This is a more positive result that the forecasted 2.2% decrease.

Eurozone Industrial Production slid by 0.4% between December 2012 and January 2013, in comparison with the 0.9% increase registered between November 2012 and December 2012 and below expectations of a 0.1% drop.

Forex: EUR/USD stable at 1.3020 after EMU industrial production

The EUR/USD erased its gains to 1.3065 for the European opening, going as low as 1.3010 and stabilizing around 1.3020 (-0.10% on the day) ahead of the EMU industrial production. Data is out but the pair is quiet as of writing.
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Forex Flash: USD/CHF may retrace to 0.9396 and 0.9350 ahead of more gains - Commerzbank

Commerzbank analysts note that the Elliott wave count suggests a retracement to 0.9396, 0.9350 ahead of the next leg up, but the USD/CHF only did a tiny retrace yet. “This has not even made the initial retracement of the last leg up (which lies at 0.9427)”, wrote analyst Karen Jones, pointing then to the 200 day ma at 0.9422 and the very accelerated uptrend at 0.9420, while nearby support is offered by the 0.93895 January high and the 0.9317 6 week uptrend.
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