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German Factory orders rise much more than expected but will it matter for the EUR/USD?
German Factory orders were expected to rebound in September. Those orders slumped to a 5.8% decline in August and the markets were expecting a 1.5% rise in September. The data has just been released and it shown a much better than forecast rise, of 4.2%. The EUR/USD was just off its session low (1.0703) leading into this data, but given all that is unfolding Stateside, it remains to be seen if this significant improvement in the German data will count for much. The EUR/USD is currently trading a little higher following this data release though, currently at 1.0731
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