Germany’s Factory Orders slumped in August, according to the official data published by the Federal Statistics Office on Monday, suggesting that the German manufacturing sector lost its recovery momentum.
Over the month, contracts for goods ‘Made in Germany’ declined by 5.8% in August after unexpectedly rebounding 3.9% in July. Data missed the estimates of a 2.0% drop.
Germany’s Industrial Orders fell 3.9% in the year through August, as against the previous jump of 4.6%.
FX implications
The Euro remains vulnerable after the disappointing German data, as the EUR/USD loses 0.11% on the day to trade near 1.0965, as of writing.
Euro PRICE Today
The table below shows the percentage change of Euro (EUR) against listed major currencies today. Euro was the weakest against the Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.05% | -0.00% | -0.18% | 0.09% | -0.11% | 0.02% | -0.09% | |
| EUR | -0.05% | 0.02% | -0.21% | 0.07% | -0.18% | -0.03% | -0.15% | |
| GBP | 0.00% | -0.02% | -0.27% | 0.07% | -0.19% | -0.01% | -0.04% | |
| JPY | 0.18% | 0.21% | 0.27% | 0.26% | 0.05% | 0.14% | 0.15% | |
| CAD | -0.09% | -0.07% | -0.07% | -0.26% | -0.17% | -0.07% | -0.16% | |
| AUD | 0.11% | 0.18% | 0.19% | -0.05% | 0.17% | 0.19% | 0.05% | |
| NZD | -0.02% | 0.03% | 0.01% | -0.14% | 0.07% | -0.19% | -0.06% | |
| CHF | 0.09% | 0.15% | 0.04% | -0.15% | 0.16% | -0.05% | 0.06% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
Source: https://www.fxstreet.com/news/german-factory-orders-plunge-58-mom-in-august-vs-20-expected-202410070601