Factory orders in Germany grew 2.3% monthly in November, notably improving the expected 1.2% decline. In addition, the October data was revised upwards, with a rise of 3.3% instead of the 2.9% published a month ago. This is the seventh consecutive month of increases for the indicator.
The year-on-year factory orders rose 6.3%, well above the previous 2.3% (revised from 1.8%) and the -0.1% expected by the market. This is the second consecutive rise for the indicator after seven months of continuous declines.
EUR / USD reaction
He EUR/USD it remains firm above 1.2300 so far through Thursday. The pair has risen just over 10 pips after the data, settling around the 1.2325 area, about 20 pips away from the daily high set in the Asian session at 1.2344.
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