Disappointing Eurozone retail sales figures failed to spook the EUR, with German factory orders up 2.8% in December.
It was a relatively busy morning on the Eurozone economic calendar this morning. Key stats included German factory orders and Eurozone retail sales figures for December. It was a mixed set of numbers, with German factory orders delivering further EUR support.
In December, German factory orders increased by 2.8% versus a forecasted 0.5% rise. Factory orders had jumped by 3.6% in November.
According to Destatis,
In December, retail sales slid by 3.0% in the Eurozone reversing a 1.0% increase from November. Economists had forecast a more modest 0.5% decline.
According to Eurostat,
Ahead of today’s stats, the EUR had fallen to a pre-stat and current day low $1.14321 rising to a pre-stat high $1.14719.
In response to today’s prelim inflation figures, the EUR rose to a post-stat and current day high $1.14770.
At the time of writing, the EUR was up by 0.32% to $1.14761.
U.S nonfarm payrolls for January.
With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.