German Factory Orders rise 2.9% MoM in July vs. -1.5% expected
|Germany’s Factory Orders unexpectedly rose in July, according to the official data published by the Federal Statistics Office on Thursday, suggesting that the German manufacturing sector recovery holds momentum.
Over the month, contracts for goods ‘Made in Germany’ climbed by 2.9% in July, having registered a 4.6% growth in June while beating the estimates of a 1.5% drop.
Germany’s Industrial Orders jumped 3.7% in the year through July, as against the previous slump of 11.2%.
FX implications
The Euro remains unmoved by the upbeat German data, as the EUR/USD pair keeps its range near 1.1080, almost unchanged on the day, as of writing.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.