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German Factory Orders rose more than expected

Friday, Dec 04 2015
Based on provisional data, the Federal Statistical Office (Destatis) reports that price-adjusted new orders in manufacturing in October 2015 increased a seasonally and working-day adjusted 1.8% on September 2015. Smaller incline by 1.3% was expected. In September 2015, the decrease on the previous month showed a corrected –0.7% (primary –1.7%). 
 
In October 2015, domestic orders increased 1.7% and foreign orders 1.8% on the previous month. As regards the direction of trade in foreign transactions, new orders from the euro area were up 2.4% on the previous month, new orders from other countries increased 1.4%.  In October 2015 the manufacturers of intermediate goods rose 0.1% and the manufacturers of capital goods show increases of 2.7% on the previous month. For consumer goods, an increase in new orders of 3.8% was recorded. 
 
Euro is currently being traded around 1.0880 area. Pair is likely to find support around 1.08 handle and resistance above 1.0950 level. Later today, in the US session, NFP and Trade Balance figures are scheduled for a release.
More in this category: « Australian Retail Sales increased by 0.5% in October US Trade Balance deficit up by $1.4 billion »

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