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German Factory Orders down by 1.4%

Friday, Sep 04 2015
Based on provisional data,  price-adjusted new orders in manufacturing in July 2015 in Germany decreased a seasonally and working-day adjusted 1.4% on June 2015. Analysts were predicting 0.5% decline. In June 2015, the increase on the previous month showed a corrected –1.8% (primary +2.0%) In July 2015, domestic orders increased 4.1% while foreign orders decreased 5.2% on the previous month. 
 
As regards the direction of trade in foreign transactions, new orders from the euro area were up 2.2% on the previous month, new orders from other countries decreased 9.5%. In July 2015 the manufacturers of intermediate goods recorded decreases in new orders of 0.2% on the previous month and capital goods decreased 1.6%. For consumer goods, a decrease in new orders of 6.3% was recorded.
 
is currently being traded around 1.1130 level. Pair is likely to find support around 1.1050 level and resistance above 1.12 area. Later today, in the US session, NFP figures are scheduled for a release.
 
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