EUR/USD unfazed around 1.10 after German Factory Orders drop 2.1% MoM in Dec vs. +0.6% exp
- German Factory Orders dropped 2.1% MoM in December.
- German Factory Orders slumped 8.7% YoY in December.
- EUR/USD keeps its range around 1.1000, eyes EU Economic Forecasts.
more to come ...
About German Factory Orders
The Factory orders released by the Deutsche Bundesbank is an indicator that includes shipments, inventories, and new and unfilled orders. An increase in the factory order total may indicate an expansion in the German economy and could be an inflationary factor. It is worth noting that the German Factory barely influences, either positively or negatively, the total Eurozone GDP. A high reading is positive (or bullish) for the EUR, while a low reading is negative.