
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
In June, German industrial orders went up twice as much as expected because a soar in domestic demand compensated weaker foreign appetite, as Friday’s data showed, hinting this sector of the EU’s largest economy will manage to gain traction in the nearer months.
Factories reported a 1% soar in contracts in June after in May orders for German-made goods rallied by an upwardly revised 1.1%, according to data from the Economy Ministry. It surpassed the Reuters forecast for a 0.5% growth.
The order numbers appear to be another mosaic tile in what’s an extremely upbeat picture of the German economy, as some financial experts state.
A breakdown of the June data unveiled that domestic demand tacked on by 5.1%, while foreign orders lost 2%, with orders from the euro zone sagging by 2.4%.
However, foreign orders are generally supplanting domestic demand notwithstanding Friday's data disclosed the opposite.
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
About 24% of global central banks intend to increase gold reserves in 2023. Rising inflation, geopolitical turmoil, and worries about interest rates are reasons to increase gold reserves.
GDP in Europe is decreasing, but EURUSD jumped owing to the US labor market statistics.
The CAD is dominating the markets after the key rate increase! Read the full report to learn more about trading opportunities with the Canadian Dollar!
Saudi Arabia agreed to cut oil production. What will happen with the oil price now?
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