Germany's VDMA says engineering orders rose by 10% yy in July

Germany's VDMA engineering union out with results/comments 31 Aug

• domestic orders +10%
• foreign order +9%
• sees significant double-digit % growth in 2017 exports to China
• demand is returning from EU countries such as Italy, Spain
• sees single-digit growth in 2017 exports to US

All good on the German engineering front.

EURUSD remains around 1.1885 after earlier rally to 1.1903 but EURGBP fading to 0.9213 with offers at 0.9230 providing a good cap and putting a bid under cable into 1.2880.

The inter-connection continues.

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