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.
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Greg Holden is the Chief Market Analyst at ForexYard. Greg uses his detailed knowledge of fundamental and technical analysis to provide some of the leading market forecasts in the forex world today. A guest lecturer at forex symposiums and Chief Editor of ForexYard's analysis center, Greg brings highly detailed and easy-to-use market analyses to his clientele. He has been published on ForexYard's Trading Blog and affiliate websites. Greg holds degrees in Political Science and Economics from Missouri State University, as well as a Masters degree in Middle Eastern History.
