- German Factory Orders rose by 1.8% MoM in January.
- German Retail Sales arrived at 10.3% YoY in Jan vs. 0.8% previous.
- EUR/USD remains pressured below 1.0900 amid strong German data.
The German Factory Orders increased more than expected in January, suggesting that the recovery in the manufacturing sector of Europe’s economic powerhouse is on an upward trajectory.
Contracts for goods ‘Made in Germany’ rose by 1.8% on the month vs. 1.0% expected and 3.0% last, the latest data published by the Federal Statistics Office showed on Monday.
On an annualized basis, Germany’s Industrial Orders rose by 7.3% in the reported month vs. 5.4% expected and 5.9% previous.
Meanwhile, Germany's Retail Sales rebounded firmly by 2.0% MoM in January versus 1.5% expected and -4.6% last.
The annual Retail Sales came in at 10.3% in January versus 9.5% expected and 0.8% booked in December.
FX implications
The shared currency remains weighed by the resurgent US dollar demand amid the Ukraine crisis-driven risk-off mood and rallying oil prices.
At the time of writing, EUR/USD is down 0.48% on the day, trading at 1.0875.