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German factory orders jump unexpectedly in June

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Forexpros - German factory orders rose unexpectedly in June, increasing for the third consecutive month, official data showed on Thursday.

In a report, Deutsche Bundesbank said factory orders rose by a seasonally adjusted 1.8% in June, confounding expectations for a 0.2% drop.

The previous month's figure was revised down to a 1.5% gain from a previously reported increase of 1.8%.

Year-on-year, German factory orders rose at an annualized rate of 9.5% in June, after climbing at a rate of 11.7% in May.

Analysts had expected year-on-year German factory orders to rise at an annualized rate of 6.8%.

Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD shedding 0.64% to trade at 1.4232.

Meanwhile, European stock markets were mixed. The EURO STOXX 50 climbed 0.5%, France's CAC 40 dipped 0.1%, the FTSE 100 declined 0.7%, while Germany's DAX edged 0.1% higher.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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