{"id":47432,"date":"2023-07-06T14:03:00","date_gmt":"2023-07-06T13:03:00","guid":{"rendered":"https:\/\/youtrading.com\/en\/?p=47432"},"modified":"2023-07-07T14:07:25","modified_gmt":"2023-07-07T13:07:25","slug":"midday-brief-factory-boost","status":"publish","type":"post","link":"https:\/\/youtrading.com\/en\/midday-brief-factory-boost\/","title":{"rendered":"Midday Brief – Factory Boost"},"content":{"rendered":"\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t
\n\t\t\t\t

The euro currency<\/a> popped higher during the US session after German factory orders data surprised to the upside, pushing back fears of an imminent recession.<\/p>

Factory orders in Germany rose by 6.4% month-over-month in May 2023, easily exceeding market estimates of 1.2% and following an upwardly revised 0.2% rise in April.<\/p>

This was the largest increase in industrial orders since June 2020, boosted by a rise in large-scale orders. New orders for motor vehicles, trailers, and semi-trailers soared by 8.6%, and those for other transport equipment surged by 137.1%.<\/p>

Additionally, orders grew for miscellaneous vehicle construction, which includes the construction of ships, railed vehicles, aircraft, spacecraft, and army vehicles.<\/p>

In contrast, orders of electrical equipment tumbled by 15.0%. Excluding large-scale orders, new orders rose by 3.2%. While orders for capital goods increased by 12.0%, orders fell for both intermediate goods (-1.1%) and consumer goods (-0.8%).<\/p>

Foreign orders climbed by 6.4% with demand up from both the Euro Area (6.5%) and third countries (6.2%), while domestic orders gained 6.2%, with demand driven from China.<\/p>

Jobs cuts data from the US was also encouraging. US-based employers announced 40.709K job cuts in June 2023, the lowest level since October 2022, compared to 80.809K in May. Still, the reading is above 32.517K layoffs announced a year earlier. The tech sector<\/a> laid off nearly 5,000 employees.<\/p>

Andrew Challenger, senior vice president at Challenger, Gray & Christmas Inc said “The drop in cuts is not unusual for the summer months. In fact, June is historically the slowest month on average for announcements. It is also possible that the deep job losses predicted due to inflation and interest rates will not come to pass, particularly as the Fed holds rates.<\/em>“<\/p>

So far this year, employers have announced 458,209 cuts, the highest first-half total since 2020. Technology is leading with 141,516 cuts, the second-highest total for the sector ever, followed by retail companies (48,212) and financial firms (39,768).<\/p>

The top reason for job cuts is Market\/Economic Conditions, followed by Cost-Cutting and store, unit, or department Closings.<\/p>\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"

The euro currency popped higher during the US session after German factory orders data surprised to the upside, pushing back fears of an imminent recession. Factory orders in Germany rose by 6.4% month-over-month in May 2023, easily exceeding market estimates of 1.2% and following an upwardly revised 0.2% rise in April. This was the largest […]<\/p>\n","protected":false},"author":4,"featured_media":47439,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2],"tags":[95,809,810],"yoast_head":"\nMidday Brief - Factory Boost - Youtrading UK<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/youtrading.com\/en\/midday-brief-factory-boost\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Midday Brief - Factory Boost\" \/>\n<meta property=\"og:description\" content=\"The euro currency popped higher during the US session after German factory orders data surprised to the upside, pushing back fears of an imminent recession.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/youtrading.com\/en\/midday-brief-factory-boost\/\" \/>\n<meta property=\"og:site_name\" content=\"Youtrading UK\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/YouTradingEnglish\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-06T13:03:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-07T13:07:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2023\/07\/GettyImages-648823021.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"724\" \/>\n\t<meta property=\"og:image:height\" content=\"466\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nathan Batchelor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Midday Brief - Factory Boost\" \/>\n<meta name=\"twitter:description\" content=\"The euro currency popped higher during the US session after German factory orders data surprised to the upside, pushing back fears of an imminent recession.\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Nathan Batchelor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/youtrading.com\/en\/midday-brief-factory-boost\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/midday-brief-factory-boost\/\"},\"author\":{\"name\":\"Nathan Batchelor\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\"},\"headline\":\"Midday Brief – Factory Boost\",\"datePublished\":\"2023-07-06T13:03:00+00:00\",\"dateModified\":\"2023-07-07T13:07:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/youtrading.com\/en\/midday-brief-factory-boost\/\"},\"wordCount\":322,\"publisher\":{\"@id\":\"https:\/\/youtrading.com\/en\/#organization\"},\"keywords\":[\"Euro\",\"Industrial orders\",\"US Job cuts\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/youtrading.com\/en\/midday-brief-factory-boost\/\",\"url\":\"https:\/\/youtrading.com\/en\/midday-brief-factory-boost\/\",\"name\":\"Midday Brief - Factory Boost - Youtrading UK\",\"isPartOf\":{\"@id\":\"https:\/\/youtrading.com\/en\/#website\"},\"datePublished\":\"2023-07-06T13:03:00+00:00\",\"dateModified\":\"2023-07-07T13:07:25+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/youtrading.com\/en\/midday-brief-factory-boost\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/youtrading.com\/en\/midday-brief-factory-boost\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/youtrading.com\/en\/midday-brief-factory-boost\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/youtrading.com\/en\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Midday Brief – Factory Boost\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/youtrading.com\/en\/#website\",\"url\":\"https:\/\/youtrading.com\/en\/\",\"name\":\"Youtrading UK\",\"description\":\"Leaders in Trader Training\",\"publisher\":{\"@id\":\"https:\/\/youtrading.com\/en\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/youtrading.com\/en\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/youtrading.com\/en\/#organization\",\"name\":\"YouTrading\",\"url\":\"https:\/\/youtrading.com\/en\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2020\/12\/Logo-Youtrading-2020_preto.svg\",\"contentUrl\":\"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2020\/12\/Logo-Youtrading-2020_preto.svg\",\"width\":2531,\"height\":570,\"caption\":\"YouTrading\"},\"image\":{\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/logo\/image\/\"},\"sameAs\":[\"https:\/\/www.facebook.com\/YouTradingEnglish\/\",\"https:\/\/www.instagram.com\/youtrading_english\/\",\"https:\/\/www.youtube.com\/channel\/UCc22BNolZpSd33lXc8utUvg\"]},{\"@type\":\"Person\",\"@id\":\"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab\",\"name\":\"Nathan Batchelor\",\"description\":\"Nathan Bathelor brings a professional trading background and highly renowned technical analysis with 15 years of experience. He holds a degree in Business and Finance and has an extensive background providing research for prop houses, and fund managers. Nathan previously traded for Drashta Capital, a boutique Hedge Fund based in London and Sydney, and has worked as a FX Market Analyst for a number of leading brokerages in the United Kingdom.\",\"url\":\"https:\/\/youtrading.com\/en\/author\/nathanbatchelor\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Midday Brief - Factory Boost - Youtrading UK","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/youtrading.com\/en\/midday-brief-factory-boost\/","og_locale":"en_GB","og_type":"article","og_title":"Midday Brief - Factory Boost","og_description":"The euro currency popped higher during the US session after German factory orders data surprised to the upside, pushing back fears of an imminent recession.","og_url":"https:\/\/youtrading.com\/en\/midday-brief-factory-boost\/","og_site_name":"Youtrading UK","article_publisher":"https:\/\/www.facebook.com\/YouTradingEnglish\/","article_published_time":"2023-07-06T13:03:00+00:00","article_modified_time":"2023-07-07T13:07:25+00:00","og_image":[{"width":724,"height":466,"url":"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2023\/07\/GettyImages-648823021.jpg","type":"image\/jpeg"}],"author":"Nathan Batchelor","twitter_card":"summary_large_image","twitter_title":"Midday Brief - Factory Boost","twitter_description":"The euro currency popped higher during the US session after German factory orders data surprised to the upside, pushing back fears of an imminent recession.","twitter_misc":{"Written by":"Nathan Batchelor","Estimated reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/youtrading.com\/en\/midday-brief-factory-boost\/#article","isPartOf":{"@id":"https:\/\/youtrading.com\/en\/midday-brief-factory-boost\/"},"author":{"name":"Nathan Batchelor","@id":"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab"},"headline":"Midday Brief – Factory Boost","datePublished":"2023-07-06T13:03:00+00:00","dateModified":"2023-07-07T13:07:25+00:00","mainEntityOfPage":{"@id":"https:\/\/youtrading.com\/en\/midday-brief-factory-boost\/"},"wordCount":322,"publisher":{"@id":"https:\/\/youtrading.com\/en\/#organization"},"keywords":["Euro","Industrial orders","US Job cuts"],"articleSection":["Markets"],"inLanguage":"en-GB"},{"@type":"WebPage","@id":"https:\/\/youtrading.com\/en\/midday-brief-factory-boost\/","url":"https:\/\/youtrading.com\/en\/midday-brief-factory-boost\/","name":"Midday Brief - Factory Boost - Youtrading UK","isPartOf":{"@id":"https:\/\/youtrading.com\/en\/#website"},"datePublished":"2023-07-06T13:03:00+00:00","dateModified":"2023-07-07T13:07:25+00:00","breadcrumb":{"@id":"https:\/\/youtrading.com\/en\/midday-brief-factory-boost\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/youtrading.com\/en\/midday-brief-factory-boost\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/youtrading.com\/en\/midday-brief-factory-boost\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/youtrading.com\/en\/"},{"@type":"ListItem","position":2,"name":"Midday Brief – Factory Boost"}]},{"@type":"WebSite","@id":"https:\/\/youtrading.com\/en\/#website","url":"https:\/\/youtrading.com\/en\/","name":"Youtrading UK","description":"Leaders in Trader Training","publisher":{"@id":"https:\/\/youtrading.com\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/youtrading.com\/en\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Organization","@id":"https:\/\/youtrading.com\/en\/#organization","name":"YouTrading","url":"https:\/\/youtrading.com\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/youtrading.com\/en\/#\/schema\/logo\/image\/","url":"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2020\/12\/Logo-Youtrading-2020_preto.svg","contentUrl":"https:\/\/youtrading.com\/en\/wp-content\/uploads\/2020\/12\/Logo-Youtrading-2020_preto.svg","width":2531,"height":570,"caption":"YouTrading"},"image":{"@id":"https:\/\/youtrading.com\/en\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/YouTradingEnglish\/","https:\/\/www.instagram.com\/youtrading_english\/","https:\/\/www.youtube.com\/channel\/UCc22BNolZpSd33lXc8utUvg"]},{"@type":"Person","@id":"https:\/\/youtrading.com\/en\/#\/schema\/person\/88ce8e6688d6c690a83e6cbeee2eccab","name":"Nathan Batchelor","description":"Nathan Bathelor brings a professional trading background and highly renowned technical analysis with 15 years of experience. He holds a degree in Business and Finance and has an extensive background providing research for prop houses, and fund managers. Nathan previously traded for Drashta Capital, a boutique Hedge Fund based in London and Sydney, and has worked as a FX Market Analyst for a number of leading brokerages in the United Kingdom.","url":"https:\/\/youtrading.com\/en\/author\/nathanbatchelor\/"}]}},"_links":{"self":[{"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/posts\/47432"}],"collection":[{"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/comments?post=47432"}],"version-history":[{"count":0,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/posts\/47432\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/media\/47439"}],"wp:attachment":[{"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/media?parent=47432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/categories?post=47432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/youtrading.com\/en\/wp-json\/wp\/v2\/tags?post=47432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}