8:02 AM · 7 March 2024

BREAKING: German factory orders plunge in January

German factory orders data for January was released this morning at 7:00 am GMT. Report was expected to show a deep 6% month-over-month plunge in orders in the first month of 2024. However, a drop was expected following a big increase in December 2023.

Actual report showed a massive 11.3% MoM slump, adding to recent string of downbeat reports from the German economy. EUR ticked lower in a knee-jerk move, before recovering from the drop. EURUSD continues to trade in the 1.09 area

Source: xStation5

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