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Euro edges higher after Germany factory orders beat expectations

Germany factory orders rose 3.1% in June, and the euro reaction kept EUR/USD near 1.1550 after the data release.

Reported · Written up by our desk · Major Pairs

Germany’s Factory Orders rose in June, pointing to improved momentum in the country’s manufacturing sector, according to data published by the Federal Statistics Office, reported by FXStreet.

Over the month, contracts for goods “Made in Germany” jumped 3.1% in June after a revised 0.3% gain in May. The increase also beat expectations, which had pointed to a 0.3% rise.

On a year-over-year basis, Germany’s factory orders gained 6.5% in June, compared with the prior period’s 4.5% increase, which was revised from 6.2%.

Following the release, the euro moved slightly higher on the day, with EUR/USD trading about 0.02% lower near 1.1550, according to FXStreet.

Latest closeEUR/USD 1.156 ▲0.4%

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