FX:Euro zone industrial new orders fall more-than-expected
Forexpros – Industrial new orders in the euro zone fell more-than-expected in July, declining for the second consecutive month official data showed on Thursday.
In a report, Eurostat said that industrial new orders fell by a seasonally adjusted 2.1% in July, after falling by 0.9% in June.
Analysts had expected industrial new orders to fall by 1.1% in July.
The report showed that the annualized rate of industrial new orders in the euro zone rose 8.4% in July, significantly below expectations for a 10.5% increase.
The previous month’s figure was revised down to 10.6% from a previously reported 11.1%.
Following the release of the data, the euro held on to losses against the U.S. dollar, with EUR/USD slumping 0.44% to trade at 1.3513.
Meanwhile, European stock markets added to heavy losses. The EURO STOXX 50 tumbled 3.9%, France’s CAC 40 sank 4%, the FTSE 100 fell 3.85%, while Germany's DAX plunged 3.65%.
