FRANKFURT (dpa-AFX) - The euro fell slightly against the US dollar around midday on Tuesday. In the morning, the common currency was trading at 1.0934 dollars, slightly lower than in the morning. The European Central Bank had last set the reference rate at 1.0946 (Friday: 1.0921) dollars.

In the morning, figures on German industrial production in November were disappointing. Production in industrial companies has fallen continuously since June. Analysts were surprised by the renewed setback: on average, they had expected a slight increase in production.

"German industrial production is in decline," summarized Jorg Krämer, Chief Economist at Commerzbank. Together with falling retail sales, there are increasing signs that the German economy will shrink again in the fourth quarter.

The market is not expecting any major impulses in the further course of the day, as there is hardly any important economic data on the agenda. According to experts at Landesbank Hessen-Thüringen, "a persistently cautious attitude is likely to dominate". Accordingly, investors are holding back ahead of important data on price trends in the USA, which are expected on Thursday./lfi/jsl/mis