Trade Desk Thoughts - German Factory Orders

German Factory Orders Actual 3.6%, Expected 0.2%, Previous -1.3% (Revised from -1.7%)

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 have risen for the first time in nine months. The released number of 3.6% is much greater than the forecasted number of 0.2%. At the same time, the previously released number was revised from -1.7% to -1.3%. Even though factory orders came in very strong in August, one report does not make a trend.

Forex Technical Reaction: The euro essentially ignored the release. During the overnight session, the pair gained 90 pips, trading between the neutral pivot point and the TheLFB R1.

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