Data released by Eurostat this morning displayed an unexpected turn in the region’s industrial sector. For the past few months industrial orders have been in decline as transportation costs soared and Japanese output dwindled following the recent earthquake and tsunami.
This morning’s release, however, signaled a 3.6% increase in new industrial orders for the euro zone in June, hinting at a resurgent leap in output for that sector of the region’s economy. Expectations were for an increase of only 0.7% following last month’s 0.1% contraction. The news could help the euro (EUR) regain some of its former strength during these times of risk aversion.
Read more forex trading news on our forex blog.
