• Industrial producer prices in the euro area declined sharply in November.
• EUR/USD clings to modest daily gains slightly above 1.0600. 

"In November 2022, industrial producer prices fell by 0.9% in both the euro area and the EU, compared with
October 2022," Eurostat reported on Thursday.

With this monthly decline, the annual rate declined to 27.1 in the Eurozone from 30.8% in October, compared to the market expectation of 27.5%.

Market reaction

These figures don't seem to be having a noticeable impact on the Euro's performance against its major rivals. As of writing, EUR/USD was trading at 1.0620, rising 0.2% on a daily basis.