Factory orders in Germany released on Wednesday by statistics office Destatis showed a flat print. Factory orders came out unchanged after falling -1.90% in April and were below forecasts of a 1.00% increase. New orders in manufacturing increased 0.50% in May, while domestic orders fell -1.90%. Foreign orders increased 1.40% while orders from the euro area gained 4% during the month. On a year over year basis, German factory orders were down -0.20% on the month in May. April's annualized orders were revised up from -0.50% to -0.40%.
FOMC Minutes Shows Fed's Cautious Approach
Daily Analysis - 07/07/2016