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.
Market Impact
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.
