German Factory Orders drop 1% MoM in June vs. +1% expected
Germany's Factory Orders unexpectedly dropped in June, suggesting that the country’s manufacturing sector downturn extended, according to the official data published by the Federal Statistics Office on Wednesday.
Over the month, contracts for goods ‘Made in Germany’ dropped 1% in June after declining 1.4% in May. Data missed the expected 1% rebound.
Germany’s Industrial Orders advanced 0.8% year-over-year (YoY) in June, compared with the previous growth of 5.3%.
FX implications
The Euro (EUR) is little changed by the German data, with EUR/USD trading modestly flat on the day near 1.1575, as of writing.
Euro PRICE Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the strongest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.05% | -0.04% | -0.13% | -0.02% | -0.32% | -0.22% | -0.14% | |
| EUR | 0.05% | -0.01% | -0.09% | 0.03% | -0.18% | -0.21% | -0.08% | |
| GBP | 0.04% | 0.00% | -0.06% | 0.04% | -0.18% | -0.22% | -0.03% | |
| JPY | 0.13% | 0.09% | 0.06% | 0.12% | -0.22% | -0.19% | 0.07% | |
| CAD | 0.02% | -0.03% | -0.04% | -0.12% | -0.21% | -0.26% | -0.07% | |
| AUD | 0.32% | 0.18% | 0.18% | 0.22% | 0.21% | -0.03% | 0.13% | |
| NZD | 0.22% | 0.21% | 0.22% | 0.19% | 0.26% | 0.03% | 0.19% | |
| CHF | 0.14% | 0.08% | 0.03% | -0.07% | 0.07% | -0.13% | -0.19% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
