German factory orders rise by more than expected in January. While failing to provide immediate EUR support, the numbers should provide some cushion early on.
After a particularly quiet economic calendar through the Asian session, German factory orders were in focus.
Manufacturing data from Germany has been upbeat at the turn of the year. Factory orders for January needed to be aligned with the survey-based data.
In January, factory orders increased by 1.4%, coming in ahead of a forecasted 0.7% increase. In December, orders had fallen by 1.9%.
According to Destatis,
Ahead of today’s stats, it was a mixed start for the EUR. Early in the day, the EUR had struck a current day high $1.19771 before falling to a pre-stat low $1.19516.
In response to the stats, however, the EUR slid from $1.19537 to a current day low $1.19482.
At the time of writing, the EUR was down by 0.10% to $1.19514.
U.S nonfarm payrolls and February’s unemployment rate.
Wage growth and trade data are also due out of the U.S but should have a muted impact on the Dollar and the broader markets.
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.