Forex Pros - German factory orders rose more-than-expected in January, official data showed on Tuesday.
In a report, Deutsche Bundesbank said factory orders rose by a seasonally adjusted 2.9% in January, after tumbling by 3.6% in December, whose figure was revised from a decline of 3.4%.
Analysts had expected German factory orders to rise by 2.5% in January.
The data showed that year-on-year German factory orders rose more-than-expected in January, rising by an annualized 16.0%, compared to a jump of 19.6% in December. Analysts had expected year-on-year German factory orders to rise by 15.6% in January.
Following the release of the data, the euro was down against the U.S. dollar, with EUR/USD shedding 0.37% to hit 1.3918.
Meanwhile, European stock markets were higher. The EURO STOXX 50 climbed 0.41%, France's CAC 40 added 0.36%, Germany's DAX gained 0.28%, while the FTSE 100 rose 0.11%.