German Factory Orders plunge 5.4% MoM in November vs. 0% expected

Dhwani Mehta FXStreet

The official data published by the Federal Statistics Office showed Wednesday that Germany's Factory Orders unexpectedly slumped in November, suggesting that the country’s manufacturing sector resumed its downturn.

Over the month, contracts for goods ‘Made in Germany’ plunged by 5.4% in November after the 1.5% decline reported in October. Data missed the estimates of a 0% print.

Germany’s Industrial Orders dropped 1.7% year-on-year (YoY) in November, against the previous jump of 5.7%.

FX implications

The Euro sees some mild selling after the German data, with EUR/USD flat on the day at 1.0343, as of writing.

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.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD stays calm near 1.1650 to begin Fed week

EUR/USD struggles to find direction and trades in a narrow channel near 1.1650 on Monday. Investors refrain from taking large positions ahead of this week's critical Fed policy meeting, allowing the pair to stay in a consolidation phase following two consecutive weeks of bullish action.

GBP/USD edges lower toward 1.3300 as markets turn cautious

GBP/USD corrects lower toward 1.3300 on Monday after posting gains in the previous week. The markets adopt a cautious stance ahead of the highly-anticipated Fed meeting, making it difficult for the pair to gather bullish momentum.

Gold remains stuck near $4,200 as markets gear up for Fed

Gold extends its sideways grind at around $4,200 after posting marginal losses last week. The trading action turns subdued on Monday as market participants prepare for the upcoming Fed meeting, which will provide key insights into the short-term policy outlook.

Bitcoin and Ethereum aim for breakouts as Ripple holds at $2

Bitcoin, Ethereum, and Ripple record a minor recovery on Monday, starting the week on a positive note. The retail demand for major cryptocurrencies remains strong despite outflows from Bitcoin and Ethereum Exchange Traded Funds.

The Silver disconnection is real

Silver just hit a new all-time high. Neither did gold, nor mining stocks. They all reversed on an intraday basis, but silver’s move to new highs makes it still bullish overall, while the almost complete reversals in gold and miners make the latter technically bearish.