Based on provisional data, the Federal Statistical Office (Destatis) reports that price-adjusted new orders in manufacturing had decreased in June 2016 a seasonally and working-day adjusted 0.4% on May 2016. For May 2016, revision of the preliminary outcome resulted in an increase of 0.1% compared with April 2016 (primary 0.0%). Price-adjusted new orders without major orders in manufacturing had increased in June 2016 a seasonally and working-day adjusted 0.9% on May 2016.
In June 2016, domestic orders increased by 0.7%, while foreign orders decreased by 1.2% on the previous month. New orders from the euro area were down 8.5% on the previous month, while new orders from other countries increased by 3.8% compared to May 2016. In June 2016 the manufacturers of intermediate goods recorded decreases in new orders of 0.7% and the manufacturers of capital goods showed a decrease of 0.2% on the previous month. For consumer goods, a decrease in new orders of 0.7% was recorded.
Euro is currently being traded around 1.1050 handle. Pair is likely to find support around 1.10 and resistance above 1.11 area.
