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Euro Ignores German Factory Orders Data as ECB Looms Ahead

Euro Ignores German Factory Orders Data as ECB Looms Ahead

2014-02-06 11:30:00
David Maycotte,
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Talking Points:

  • German Factory Orders Unexpectedly Dropped 0.5% in December
  • Euro Little-Changed vs. British Pound After Data Crossed the Wires
  • Spotlight Now Turns to ECB, BOE Monetary Policy Announcements

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German Factory Orders disappointed in December, falling 0.5 percent from the prior month and missing expectations calling for a 0.2 percent increase. The year-on-year growth rate slowed to 6 percent, down from 7.2 percent in November and shy of the 6.3 percent forecast before the data crossed the wires.

The Euro was little-changed against the British Pound following the data release. The muted response likely reflected traders’ preference to sit on the sidelines as they await monetary policy announcements from Bank of England and the European Central Bank due later in the session.

EUR/GBP 5-Minute Chart. February 6, 2014

Euro_Ignores_German_Factory_Orders_Data_as_ECB_Looms_Ahead_body_Picture_1.png, Euro Ignores German Factory Orders Data as ECB Looms Ahead

Charted created by David Maycotte using Marketscope 2.0.

-- Written by David Maycotte, DailyFX Research Team. Questions, comments or concerns can be sent to instructor@dailyfx.com.

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