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Germany still enjoys a robust economy. Factory orders jumped by 5.2% and corrected the drop of 4.6% seen last month. Expectations stood on a more modest rise of 0.9%. The original report for last month was a drop of 4.3%.  

EUR/USD is higher now, at the high end of the 1.3360 – 1.3420 range.

This figure is quite volatile, and should be taken with a grain of salt. Tomorrow we will get a related figure from Europe’s No. 1 economy: industrial production, which is expected to rise by 0.3%.

EUR/USD dropped yesterday after the wide warning by S&P   to all euro-zone countries. Germany’s perfect AAA rating is also in danger. The move puts pressure on the leaders to make bold moves.

Levels above are 1.3480 and 1.3550. Below we find 1.3360, 1.3320 and 1.3260. For more on the euro, see the EUR/USD forecast.

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