The Factory orders fell 2.4% in Germany during last August, marking their seventh straight relegation. The indicator has worsened market forecasts, which expected a drop of 0.7%. It has also accentuated the fall of 1.1% in July. That of August is the biggest decrease seen in four months, specifically since April.
On a year-on-year basis, the indicator has fallen by 4.1%, moderating the 13.6% fall of the previous month and the 11.4% decline estimated for today. This is the sixth straight month of declines for factory orders.
EUR/USD Reaction
The EUR/USD has reacted to the data with a fall of 10 pips that has taken it to the 0.9912 zone. Earlier, the pair hit a daily high at 0.9926 during the Asian session. At time of writing, the euro is trading against the dollar above 0.9914, gaining 0.40% on the day.
Source: Fx Street
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