The official figures provided by the Federal Statistics Office showed Friday that Germany's Factory Orders showed no rise in February, suggesting that the country’s manufacturing industry is stalling.
Contracts for "Made in Germany" goods fell by a revised 5.5% in January, but ended the month at 0% in February. 3.5% of the data fell short of the estimates.
Compared to the prior higher revision of 0.1%, Germany's Industrial Orders fell 0.2% year-over-year (YoY) in February.
Implications for FX
Following the conflicting German statistics, the euro is losing ground; as of this writing, EUR/USD is up 0.19% for the day and trading close to 1.1075.
Contracts for "Made in Germany" goods fell by a revised 5.5% in January, but ended the month at 0% in February. 3.5% of the data fell short of the estimates.
Compared to the prior higher revision of 0.1%, Germany's Industrial Orders fell 0.2% year-over-year (YoY) in February.
Implications for FX
Following the conflicting German statistics, the euro is losing ground; as of this writing, EUR/USD is up 0.19% for the day and trading close to 1.1075.
