German Factory Orders Worst Than Expected

[vc_row][vc_column][vc_column_text]German factory orders shrunk to 2.2 percent m/m for May, much worse than analysts’ expectations of -0.1 percent just to reaffirm the dismal economic environment in Germany and in the EU also. The figure for April was at +0.3 percent. The EURUSD hit the daily low at 1.1274 after the news, in low volumes and in narrow trading range. Strong support for the pair stands at 1.1260.[/vc_column_text][vc_column_text]Don’t miss a beat! Follow us on Twitter.[/vc_column_text][vc_single_image image=”8220″ img_size=”full” add_caption=”yes” alignment=”center” onclick=”link_image” title=”EURUSD Daily Chart”][/vc_column][/vc_row]