Forexpros – German factory orders dropped more-than-expected in April, but the previous month’s figure was revised higher, official data showed on Tuesday.
In a report, Deutsche Bundesbank said factory orders fell by a seasonally adjusted 1.9% in April, compared to expectations for a 1% decline.
March’s figure was revised up to a 3.2% gain from a previously reported increase of 2.2%.
Year-over-year, German factory orders dropped at an annualized rate of 3.8% in April, in line with market expectations, after falling at a revised rate of 0.2% in March.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD shedding 0.5% to trade at 1.2436.
Meanwhile, European stock markets remained mixed. The EURO STOXX 50 slumped 0.15%, France’s CAC 40 rose 0.45%, Germany’s DAX dropped 0.9%, while London’s FTSE 100 was closed for a public holiday.
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