It was a relatively quiet Eurozone economic calendar this morning. German factory orders were in focus going into the European open.
Factory Orders
In October, factory orders tumbled by 6.9%, month-on-month, versus a forecasted 0.5% decline. In September, orders had risen by 1.8%.
Market Impact
Ahead of today’s stats, the EUR had risen to a pre-stat and current day high $1.13149 before falling to a pre-stat low $1.12809.
In response today’s stats, the EUR fell to a post-stat and current day low $1.12782 before rising to a post-stat high $1.12822.
At the time of writing, the EUR was down by 0.27% to $1.12825.
Next Up
German construction PMI numbers for November. We don’t expect the numbers to impact the EUR, however, with COVID-19 news updates still key at the start of the week.
