BREAKING: Weaker data from Germany. EURUSD tries to rebound

8:20 AM 8 January 2024

Factory orders in Germany increased by 0.3% m/m against an expected increase of 1.0%. However, these are significantly delayed data for November. Previously, orders in October fell by 3.7% m/m.

On an annual basis, orders fell by 4.4% y/y, but in October, it was a decline of 7.3% y/y.

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Factory orders are an indicator for industrial production, which will be published tomorrow. An increase of 0.2% m/m is expected, compared to the previous decline of -0.2% m/m. However, if factories do not have sufficient stocks, today's order data suggests possible lower industrial production for November.

EURUSD is trying to rebound after a very volatile Friday when a better NFP report regarding employment in the USA was published.

Source: xStation5

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