BREAKING: EUR drops after miss in German orders data

7:05 AM 7 May 2024

German factory orders data for March was released today at 7:00 am BST. Report was expected to show an increase in factory orders on a monthly basis. Instead, actual data showed an unexpected drop. Trade balance data for March that was released simultaneously showed a bigger than expected jump in exports and unexpected increase in imports.

EUR reacted to miss in orders data, deepening ongoing pullback. EURUSD dropped below 1.0760 mark and reach new daily lows.

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Germany, factory orders for March

Monthly: -0.4% MoM vs +0.4% MoM expected (-0.2% MoM previously)

Germany, trade balance for March: €22.3 billion vs €22.2 billion expected (€21.4 billion previously)

Exports: +0.9% MoM vs +0.4% MoM expected (-2.0% MoM previously)
Imports: +0.3% MoM vs -1.0% MoM expected (+3.2% MoM previously)

Source: xStation5

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