German Factory Orders decreased 0.9%
Price-adjusted new orders in manufacturing in Germany in February 2015 decreased a seasonally and working day adjusted 0.9% on January 2015, missing predictions on 1.5% increase, and following a corrected –2.6% in January 2015 on December 2014. Domestic orders in February 2015 recorded no changes to the previous month, foreign orders decreased by 1.6%.
As regards the direction of trade in foreign transactions, new orders from the euro area were down 2.1% on the previous month, and new orders from other countries declined by 1.3%. In February 2015 the manufacturers of intermediate- and capital goods recorded decreases in orders of 1.2% and 1.1%. For consumer goods, a increase in orders of 2.9% was recorded.
Data did not have any major impact on the markets with euro currently being traded around 1.0840 area. Pair is likely to find support around 1.08 handle and resistance above 1.0880 level. Later today, Eurozone Retail Sales are scheduled for a release.
Last modified on Wednesday, 08 April 2015
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