German factory orders significantly higher in October ..

German factory orders rose significantly more-than-expected in October, rebounding from the preceding month’s steep decline, official data showed on Tuesday.

In a report, Deutsche Bundesbank said factory orders jumped by a seasonally adjusted 5.2% in October, blowing past expectations for a 1.0% increase.

September’s figure was revised to a 4.6% drop from a previously reported 4.3% decline.

Year-over-year, German factory orders rose at an annualized rate of 5.4% in October, after climbing at a rate of 2.4% in September. Analysts had expected year-on-year German factory orders to rise at an annualized rate of 1.9%. 

Following the release of the data, the euro turned higher against the U.S. dollar, with EUR/USD edging 0.14% higher to trade at 1.3422.

Meanwhile, European stock markets were mixed. The EURO STOXX 50 eased down 0.05%, France’s CAC 40 added 0.05%, the FTSE 100 rose 0.25%, while Germany's DAX shed 0.4%. 

 

 

Canadian Ivey PMI rises more-than-expected in November ..

Canada's Ivey purchasing managers’ index rose more-than-expected in November, industry data showed on Tuesday.

In a report, the Richard Ivey School of Business said its purchasing managers’ index rose by 5.5 points to 59.9 in November from a reading of 54.4 in October.

Analysts had expected the index to rise by 0.6 points to 55.0 in November.

A figure above 50.0 indicates industry expansion, below indicates contraction.

According to the data, the Employment Index declined to 49.4 in November from 51.4 in October. The Prices Paid Index rose to 68.1 from 63.9, while the Deliveries Index advanced to 44.8 from 43.3 in the previous month.

Following the release of the data, the Canadian dollar added to gains against its U.S. counterpart, with USD/CAD falling 0.35% to trade at 1.0128.