Forexpros – German factory orders rose significantly more-than-expected in October, rebounding from the preceding month’s steep decline, official data showed on Tuesday.
In a report, Deutsche Bundesbank said factory orders jumped by a seasonally adjusted 5.2% in October, blowing past expectations for a 1.0% increase.
September’s figure was revised to a 4.6% drop from a previously reported 4.3% decline.
Year-over-year, German factory orders rose at an annualized rate of 5.4% in October, after climbing at a rate of 2.4% in September. Analysts had expected year-on-year German factory orders to rise at an annualized rate of 1.9%.
Following the release of the data, the euro turned higher against the U.S. dollar, with EUR/USD edging 0.14% higher to trade at 1.3422.
Meanwhile, European stock markets were mixed. The EURO STOXX 50 eased down 0.05%, France’s CAC 40 added 0.05%, the FTSE 100 rose 0.25%, while Germany’s DAX shed 0.4%. 
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