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by ForexNewsNow Team on October 25, 2010

Euro zone industrial new orders surge in August

Industrial new orders - German leader Angela MerkelNEW YORK (Forex News Now) – Industrial new orders in the euro zone rose far above expectations in August, official data showed on Monday in one of the day’s major realtime forex news events.

In a report whose impact was felt in early European currency market trading, the EU statistics agency, Eurostat, said orders rose 5.4 percent during the month, up from a revised 1.8 percent in July.

Analysts had expected August’s figure to come in at 2.1 percent, two major online FX trading news outlets reported.

FX traders pay close attention to industrial new orders, which point to trends in economic activity, since they generally translate into production over the coming months.

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