German Factory Orders for April Disappoint, Weighing on the EURFactory orders from Germany weigh on the EUR this morning, with orders taking an unexpected fall. There are no other stats due out to influence…
It was a quieter day on the economic data front. From the Eurozone, German factory orders were in focus.
In April, factory orders slipped by 0.2% following a 3.9% jump in March. Economists had forecast a 1% rise.
According to Destatis,
- Domestic orders declined by 4.3%, while foreign orders rose by 2.7% month-on-month.
- Intermediate goods orders fell by 1.0%, while capital goods orders rose by a modest 0.2%.
- The manufacturers of consumer goods reported a 1.4% increase, however.
- On the same month a year earlier, orders were up 78.9%.
- When compared with February 2020, which was the month prior to COVID-19 restrictions were imposed, orders were 9.9% higher.
Ahead of today’s numbers the EUR had risen to a pre-stat high and current day high $1.21728 before easing back to a pre-stat low $1.21581.
In response to today’s stats, the EUR rose to a post-stat high $1.21621 before falling to a post-stat and current day low $1.21515.
At the time of writing, the EUR was down by 0.13% to $1.21517.