The German factory orders decelerated in the month of May, re-igniting fears over a deeper economic slowdown in Europe’s largest economy.
Contracts for goods ‘Made in Germany’ arrived at -2.2% on the month vs. -0.1% forecast and +0.3% last, the latest data published by the Federal Statistics Office showed on Friday.
On an annualized basis, Germany’s industrial orders fell 8.6% vs. -5.7% expectations and -5.3% last.
The shared currency came under fresh selling pressure on disappointing German factory orders, sending the EUR/USD pair lower towards 1.1270 region.