Euro Zone Industrial New Orders Rise More-than-expected

Forex Pros – Industrial new orders in the euro zone rose significantly more-than-expected in August, official data showed on Monday.

In a report, Eurostat said that industrial new orders rose by a seasonally adjusted 5.3% in August, after falling by 2.0% in July, whose figure was revised down from a decline of 2.4%.

Analysts had expected industrial new orders to rise by 2.1% in August.

The report also showed that the annualized rate of industrial new orders in the euro zone rose by 24.4% in August, after rising by 11.7% in July. Analysts had expected the annualized rate of industrial new orders to rise by 19.3% in August.

Following the release of that data, the euro was up against the U.S. dollar, with EUR/USD gaining 0.51% to hit 1.4027.

Meanwhile, European stock markets were up. The EURO STOXX 50 gained 0.48%, France's CAC 40 added 0.60%, Germany's DAX was up 0.74% and the FTSE 100 rose 0.67%.