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German Factory Orders rose more than expected

Thursday, Jan 07 2016
Based on provisional data, the Federal Statistical Office (Destatis) reports that German price-adjusted new orders in manufacturing in November 2015 increased a seasonally and working-day adjusted 1.5% on October 2015. Analysts were forecasting 0.5% increase. In October 2015, the increase on the previous month showed a corrected +1.7% (primary +1.8%). In November 2015, domestic orders increased 2.6% and foreign orders 0.6% on the previous month. As regards the direction of trade in foreign transactions, new orders from the euro area were down 0.5% on the previous month, while new orders from other countries increased 1.4%.
 Destatis also reports that retail turnover 2015 in Germany is expected to be in real terms between 2.8% and 3.1% larger than that in 2014. In nominal terms turnover is expected to increase by between also 2.8% and 3.1%. According to provisional data turnover in retail trade in November 2015 was in real terms 2.3% and in nominal terms 2.8% larger than that in November 2014. When adjusted for calendar and seasonal variations, the November turnover was in real terms 0.2% and in nominal terms 0.3% larger than that in October 2015. This was below expected incline by 0.5%.
 
Euro is currently being traded around 1.0810 area. Pair is likely to find support around 1.0750 handle and resistance above 1.0850 level. Later today, in the US session, Unemployment Claims figures are scheduled for a release.
Last modified on Thursday, 07 January 2016
More in this category: « UK house price 1.6% higher in Q4 Eurozone Unemployment rate at lowest rate since October 2011 »

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