German Factory Orders up more than expected
New orders in manufacturing in Germany in April 2015 increased a seasonally and working-day adjusted 1.4% on March 2015. Analysts were predicting smaller incline by 0.6%. In March 2015, the increase on the previous month showed a corrected +1.1% (primary +0.9%). In April 2015, domestic orders decreased 3.8% while foreign orders increased 5.5% on the previous month.
As regards the direction of trade in foreign transactions, new orders from the euro area were up 6.8% on the previous month and new orders from other countries ascended by 4.7%. In April 2015 the manufacturers of intermediate goods recorded decreases in new orders of 0.9% on the previous month while for capital goods they had rised 2.3%. For consumer goods, an increase in new orders of 4.5% was recorded.
After the data euro was pushed higher and is currently being traded slightly below 1.1240 area. Pair is likely to find support around 1.1150 level and resistance above 1.1280 area. Later today, in the US session, NFP figures are scheduled for a release.
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