Germany Factory Orders comes in at 2.5% against 2.9% consensus

Germany Factory Orders month over month for September 2026 came in at 2.5%. This figure was below the consensus expectation of 2.9%. The actual print represents a -13.8% surprise relative to the consensus. This follows the previous month’s reading of -3.8%.

Following the release, the Euro saw varied movements against major currencies over the initial 15 minutes. EURUSD traded up 1.9 pips, while EURCAD also rose 1.0 pips. Conversely, EURAUD moved down 1.0 pips, EURCHF down 1.0 pips, EURGBP down 3.4 pips, EURJPY down 9.0 pips, and EURNZD saw a notable decline of 13 pips. These initial moves are generally smaller than the median 1-hour moves observed after past releases of this data. For instance, EURUSD typically sees a median 1-hour move of 5 pips, and EURJPY a median 1-hour move of 11 pips. EURNZD’s 13 pip decline is closer to its median 1-hour move of 11 pips, but still below the top-quarter threshold of 22 pips.