• 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