German March factory orders mm +1.0% vs +0.7% exp

German March factory orders 8 May

• +3.5% prev revised up from 3.4%
• yy 2.4% vs 2.1% exp vs 4.7% prev revised up from 4.6%
• capital goods orders mm +3.7% ( domestic -1.1%, foreign +6.6%)
• intermediate goods orders -3.7% (domestic -7.1%, foreign +0.3%)

Better than expected mm tempered by softer than previous yy reading

EURUSD still enjoying it's ride off the lows at 1.0991, EURJPY 123.95 EURGBP 0.8475

Expect sellers again into 1.1000 and 1.1020-25 should we rally further.