- Prior -1.3%. Revised to -0.5%
- 4.3% vs 0.3% exp y/y. Prior -2.0% revised to -1.8%
German economic minister says increase mainly due to large orders, some from Paris Air and that orders would have fallen 0.7% without the “big ticket” items.
So a mixed report. While orders are orders however they come, the fact that this could be a temporary spike would be a concern as orders would have shown a fall.
Looks like the market is reacting to the headline so we may see a fade once they see the details.
EUR/USD up to 1.3295