German factory orders rise more-than-expected in April

Forex Pros – German factory orders rose significantly more-than-expected in April, official data showed on Tuesday.

In a report, Deutsche Bundesbank said factory orders rose by a seasonally adjusted 2.8% in April, after falling by 2.7% in March, whose figure was revised from a decline of 4.0%.  

Analysts had expected German factory orders to rise by 2.0% in April.

Year-on-year, German factory orders rose at an annualized rate of 10.5% in April, after climbing at a rate of 10.1% in March. Analysts had expected year-on-year German factory orders to rise at an annualized rate of 9.0%. 

Following the release of the data, the euro was up against the U.S. dollar, with EUR/USD climbing 0.67% to hit 1.4675.

Meanwhile, European stock markets were up. The EURO STOXX 50 gained 0.3%, France’s CAC 40 added 0.35%, the FTSE 100 rose 0.15%, while Germany’s DAX advanced 0.45%.

ForexPros.com