Tthe official data published by the Federal Statistics Office of Germany showed on Friday, the factory orders rebounded firmly in August, suggesting that the German manufacturing sector is regaining traction.

On a monthly basis, contracts for goods ‘Made in Germany’ jumped 3.9%, when compared to a 1.8% increase expected and a -11.3% previous figure.

Germany’s Industrial Orders dropped at an annual rate of 4.2% in the reported month, as against the 10.1% slump in July.

FX implications

The upbeat German data fails to inspire Euro bulls, as the EUR/USD pair trades 0.09% lower on the day at 1.0535, as of writing.