German Factory Orders meet estimates with 1.2% MoM in Feb, EUR/USD uninspired
German Factory Orders rose by 1.2% MoM in February. On a yearly basis, Germany’s Factory Orders jump by 5.6% in February. EUR/USD remains unaffected by Germany’s factory data, hovering around 1.1870.
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April 7, 2021 - Written by John Cameron
GBP/EUR Exchange Rate Sinks as UK Markets Become Increasingly Cautious
The Pound Euro (GBP/EUR) exchange rate fell by -0.8% today after the UK’s Services PMI for March was revised lower due to a decrease in business activity. The pairing is currently fluctuating around €1.15.
Tim Moore, Economics Director at IHS Markit, commented on the data:
‘UK service providers were back in expansion mode in March as confidence in the roadmap for easing lockdown restrictions provided a strong uplift to new orders. Total business activity increased at the fastest rate since August 2020 and this return to growth ended a four-month sequence of decline.’
3/5/2021 7:05:28 AM GMT | By Dhwani Mehta
German Factory Orders rose sharply by 1.4% MoM in January.
On a yearly basis, Germany’s Factory Orders arrived at 2.5% in January.
EUR/USD remains unfazed by mixed German Factory data.
The German Factory Orders increased more-than-expected in January, suggesting that the manufacturing sector in Europe’s economic powerhouse kicked off 2021 on a positive footing.
Contracts for goods ‘Made in Germany’ arrived at +1.4% on the month vs. 0.7% expected and -2.2% last, the latest data published by the Federal Statistics Office showed on Friday.
On an annualized basis, Germany’s Industrial Orders rose by 2.5% in the reported month vs. 6.1% previous and 6.4% expectations.