Germany Factory Orders y/y comes in at 13.1% against -2.7% consensus

Germany’s Factory Orders year over year for September 2026 was released at 13.1%. This figure significantly exceeded the consensus expectation of -2.7%. The actual print also marked a substantial increase from the previous reading of 1.6%. The surprise against consensus was 585.2%.

Measured market reaction 15 minutes after the release showed varied movements across EUR pairs. EURUSD moved up 1.9 pips, while EURJPY moved down 9.0 pips. EURAUD moved down 1.0 pips, EURCAD moved up 1.0 pips, and EURCHF moved down 1.0 pips. EURGBP moved down 3.4 pips, and EURNZD moved down 13 pips. These initial moves are generally small when compared to the historical median 1-hour movements for these pairs. For example, EURUSD typically sees a median 1-hour move of 5 pips, and EURJPY a median 1-hour move of 11 pips after past releases. EURAUD’s median 1-hour move is 12 pips, EURCAD’s is 7 pips, EURCHF’s is 5 pips, EURGBP’s is 4 pips, and EURNZD’s is 11 pips.