BREAKING: German industrial orders much weaker than expected

German industrial orders came in -1.6% MoM vs 0.5% exp. and -0.2% previously

The reading weakened the EURUSD however volume and reaction to German data is not very significant. However, the reading may be a sign that European industrial sector is still far from recovering and may face the next 'phase' of problems in the second half of the year, pressuring more ECB rate cuts.

Source: xStation5

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