BREAKING: EUR jumps after big surprise in German orders data

German industrial orders data for June was released this morning at 7:00 am BST. Data was expected to show a 2.0% MoM drop in orders, following a very strong 6.4% MoM jump in May. However, data turned out to be a huge positive surprise with actual orders growing by 7.0% MoM in June! This was the biggest monthly jump in three years when industry was recovering from initial Covid lockdowns.

EUR jumped on the news with EURUSD moving 0.1% higher following the release. DAX futures (DE30) jumped around 0.2% and climbed to fresh daily highs near 16,050 pts area.

EURUSD jumped after a big surprise in German orders data for June. Source: xStation5