German Factory Orders slump 11.3% MoM in January vs. -6.0% expected
Germany’s Factory Orders slumped in January, the official data published by the Federal Statistics Office showed Tuesday, suggesting that the German manufacturing sector has returned to contraction.
On a monthly basis, contracts for goods ‘Made in Germany’ plunged 11.3%, as against a 12.0% jump reported in December, missing the forecasts of -6.0%.
Germany’s Industrial Orders dropped at an annual rate of 6.0% in the same period versus the previous increase of 6.6%.
FX implications
The downbeat German data fail to have any impact on the Euro, as the EUR/USD pair keeps its range at around 1.0900 ahead of the European Central Bank (ECB) monetary policy announcements. The pair is up 0.06% so far.
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 | CAD | AUD | JPY | NZD | CHF | |
| USD | -0.03% | -0.05% | -0.03% | -0.30% | -0.78% | -0.34% | -0.09% | |
| EUR | 0.02% | -0.03% | 0.00% | -0.28% | -0.74% | -0.33% | -0.08% | |
| GBP | 0.06% | 0.03% | 0.02% | -0.26% | -0.73% | -0.29% | -0.04% | |
| CAD | 0.04% | 0.02% | -0.03% | -0.26% | -0.74% | -0.31% | -0.08% | |
| AUD | 0.30% | 0.26% | 0.23% | 0.26% | -0.48% | -0.06% | 0.19% | |
| JPY | 0.76% | 0.73% | 0.72% | 0.71% | 0.48% | 0.42% | 0.65% | |
| NZD | 0.34% | 0.31% | 0.29% | 0.31% | 0.05% | -0.42% | 0.23% | |
| CHF | 0.13% | 0.08% | 0.06% | 0.08% | -0.20% | -0.63% | -0.24% |
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 Japanese Yen, the percentage change displayed in the box will represent EUR (base)/JPY (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.
