Forex Pros – German factory orders fell significantly more-than-expected in December, official data showed on Monday.
In a report, Deutsche Bundesbank said factory orders fell by a seasonally adjusted 3.4% in December, after increasing by 5.2% in November.
Analysts had expected German factory orders to drop by 1.4% in December.
The data showed that year-on-year German factory orders rose less-than-expected in December, rising by an annualized 19.7%, compared to a jump of 20.6% in November. Analysts had expected year-on-year German factory orders to rise by 21.3% in December.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD shedding 0.16% to hit 1.3558.
Meanwhile, European stock markets were broadly higher. The EURO STOXX 50 jumped 1.06%, France’s CAC 40 rallied 1.13%, Germany’s DAX gained 0.83%, while the FTSE 100 added 0.81%.
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