Release Explanation: Measures the value of new orders placed with manufacturers in an economic region for both durable and non-durable goods. Trade Desk Thoughts: Factory orders in Germany rose for the first time in the last seven months in March. Previously, German factory orders declined at a record pace, posting a huge 38.5% decline in February from one year earlier. In March, factory orders rose 3.3%, while the number for February was revised higher to -3.1%. “The last few months showed the severity of the downturn of the German industry, since both foreign and internal demand have dropped lately”, Trade Team said

Forex Technical Reaction: The euro gained 20 pips following the news release. During the European session, the euro rose 80 pips ahead of the interest rate decision.