German Factory Orders rebound 3.9% MoM in June vs. 0.8% expected

Germany’s Factory Orders jumped sharply in June, according to the official data published by the Federal Statistics Office on Tuesday, suggesting that the German manufacturing sector recovery has caught up with momentum.

Over the month, contracts for goods ‘Made in Germany’ jumped by 3.9%, having registered a 1.6% decline in May while beating the estimates of a 0.8% growth.

Germany’s Industrial Orders plunged 11.8% in the year through June, as against the previous slump of 8.6%.

FX implications

The Euro remains offered following the mixed German data, as the EUR/USD pair holds lower ground near 1.0950, almost unchanged on the day, as of writing.