Mubasher: The Eurozone’s industrial production shrunk more than expected in January, Eurostat's data showed on Wednesday.

Production fell by a monthly rate of 1.0% in the first month of 2018, versus a 0.4% increase in December.

Economists had expected a slighter decrease of 0.4% in January.

However, production in the euro area grew by 2.7% on an annual basis during the first month of this year.

Meanwhile, the European Union’s (EU) industrial output declined 0.7% month-on-month, but expanded 3.0% year-on-year in January.

By 10:33 am GMT, the EUR/USD pair slipped by 0.19% to $1.2367.