Germany Factory Orders rises 1.9% in May, beats 1.2% estimates
Germany's Factory Orders jumps 1.9% in May, faster than 1.2% estimates, according to the official data published by the Federal Statistics Office on Monday. In April, the economic data was declined by 3.2%, revised higher from -3.8%. On an annualized basis, Factory Orders surge 6.2% against the previous reading of 2.1%, revised higher from 1.6%.
Market Reaction
There seems to be a slight volatile action in the Euro (EUR) near the data release. However, the impact appears to be the outcome of a slight upside in the US Dollar (USD). At press time, EUR/USD trades 0.1% lower at around 1.1425.
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