IV:German factory orders climb 3.3% in September; euro spikes
Investing.com - German factory orders rose much more-than-expected in September, fuelling optimism over the health of the euro zone’s largest economy, official data showed on Wednesday.
In a report, Deutsche Bundesbank said factory orders surged by a seasonally adjusted 3.3% in September, easily surpassing expectations for a gain of 0.5%.
Factory orders fell by 0.3% in August.
Year-over-year, German factory orders increased at an annualized rate of 7.9% in September from a year earlier, blowing past expectations for a 5.9% gain, after rising at a rate of 3.1% in August.
Following the release of the data, the euro added to gains against the U.S. dollar, with EUR/USD rising 0.37% to trade at 1.3527.
Meanwhile, European stock markets remained higher. The EURO STOXX 50 rose 0.8%, France's CAC 40 advanced 0.9%, Germany's DAX added 0.45%, while London’s FTSE 100 tacked on 0.15%.
