Join our community of traders FOR FREE!

  • Learn
  • Improve yourself
  • Get Rewards
Learn More

New orders received by German manufacturers have shrunk at the steepest monthly rate since August in November.

Factory orders dropped 5.4% month-over-month in November, compared to a 1.5% slump in October and market consensus of zero growth.

The latest figure was mostly driven by a 58.4% drop in orders for aircraft, ships and trains, data by the Federal Statistical Office showed.

In November, demand was also weaker for pharmaceuticals (-7.2% month-over-month) and for basic metals (-1.2% month-over-month).

Conversely, demand was stronger for chemical products (+1.7%) and for machinery (+1.2%).

The Euro was little changed on the day against the US Dollar, with the EUR/USD currency pair last trading at 1.0336.

The US Dollar remained underpinned on expectations the Federal Reserve will probably slow its rate-cutting cycle, as most recent macro data implied a stable economic environment.

Markets are now pricing in only one rate cut by the Fed in 2025, while the European Central Bank is expected to deliver substantial cuts to key policy rates this year.

The Euro kept trading not far from an over 2-year low (1.0222) against the greenback.

TradingPedia.com is a financial media specialized in providing daily news and education covering Forex, equities and commodities. Our academies for traders cover Forex, Price Action and Social Trading.

Related News

  • US stocks advance as S&P 500 rises to record levelsUS stocks advance as S&P 500 rises to record levels US stocks gained, pushing the Standard & Poor’s 500 Index to a fresh record, as investors focus on whether Fed would cut its monetary support amid budget negotiations in Washington.The S&P 500 climbed 0.2% to 1,808.37 at 4 p.m. in […]
  • Forex Market: EUR/SGD forecast for MondayForex Market: EUR/SGD forecast for Monday During Friday’s trading session EUR/SGD traded within the range of 1.6755-1.6818 and closed at 1.6787, losing 0.21% for the day and 0.59% on a weekly basis.Fundamental viewEuro zoneAnnualized Producer Price Index (PPI) in Germany […]
  • Forex Market: GBP/USD daily trading forecastForex Market: GBP/USD daily trading forecast Yesterday’s trade saw GBP/USD within the range of 1.6077-1.6147. The pair closed at 1.6120, gaining 0.18% on a daily basis.At 9:28 GMT today GBP/USD was down 0.14% for the day to trade at 1.6100. The pair touched a daily low at 1.6088 at […]
  • Major Currency Pairs: Support and Resistance Levels for November 15th 2016Major Currency Pairs: Support and Resistance Levels for November 15th 2016 USD/CHFR1 – 0.9993 R2 – 1.0004 R3 (Range Resistance - Sell) – 1.0015 R4 (Long Breakout) – 1.0048 R5 (Breakout Target 1) - 1.0087 R6 (Breakout Target 2) - 1.0103S1 – 0.9971 S2 – 0.9960 S3 (Range Support - Buy) – 0.9949 S4 […]
  • USDCNH Down 0.62% amid Trade Tensions and Economic ConcernsUSDCNH Down 0.62% amid Trade Tensions and Economic Concerns Key momentsEscalating trade disputes contribute to market uncertainty, particularly with the U.S. and Canada. Chinese economic data, revealing a decline in consumer price index and previously released disappointing trade figures, raises […]
  • Copper en route for best monthly performance in 11 on global recovery, easing Syria tensionCopper en route for best monthly performance in 11 on global recovery, easing Syria tension Copper is headed for its best month since September amid positive global economic recovery prospects from the U.S. to Europe and Japan. Easing concern over a U.S.-led attack against the Syrian regime stoked back demand for riskier assets after […]