German Factory Orders rise 0.2% MoM in September vs. -1.0% expected

Germany’s Factory Orders unexpectedly rose in September, the official data published by the Federal Statistics Office showed Monday, suggesting that the German manufacturing sector is holding its recovery momentum.

On a monthly basis, contracts for goods ‘Made in Germany’ rose 0.2%, compared with a 3.9% increase reported in August while beating the market forecasts of a 1.0% decline.

Germany’s Industrial Orders dropped at an annual rate of 4.3% in the reported month, as against the previous fall of 4.2%.

FX implications

The upbeat German data is helping Euro bulls regain further ground, with the EUR/USD pair nearing 1.0750, up 0.10% on the day.