Release Explanation: Measures the value of new orders placed with manufacturers in an economic region for both durable and non-durable goods.
Trade Desk Thoughts: Factory orders in Germany fell at a very strong pace in November, adding to a record decline seen in the last few months. In November, factory orders tumbled 6.0%, while the previous released number for October was revised lower, to -6.3%. The release shows the severity of the downturn of the German industry, since both foreign and internal demand plunged in the last few months. From one year earlier, factory orders are down by 27.2% in November.
Forex Technical Reaction: The euro continues to move side-ways in the European session, without a clear direction. Since the Asian session started, the pair has lost 90 pips.
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German Factory Orders Tumble In November, Down 27.2% YoY
Published 12/31/2000, 07:00 PM
Updated 01/08/2009, 06:24 AM
German Factory Orders Tumble In November, Down 27.2% YoY
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