German Factory Orders Fall More than Expected in June

German factory orders fell more sharply in May than economists had expected after their strong rebound the previous month.
Orders, adjusted for seasonal swings and inflation, dropped 1.7pc after rising by 3.4pc in April, the Economic Ministry announced.
Export orders inside the 18-nation eurozone were down by 1.2pc, and domestic orders by 2.5, while demand within the eurozone increased by 5.7pc.
Ministry officials said the drop would have been twice as bad without a 16.3pc boost in eurozone demand for investment goods, driven by a small number of big-ticket bulk orders.
The figures will add to worries over the health of the European economy, with a general decline in euro manufacturing and IMF warnings of a “stalled recovery” in France.

via Telegraph

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza