Germany’s construction sector showed an increase in the amount of construction orders in January 2016. This is confirmed by the recent report released by Destatis, Germany’s official statistical agency. Other factors indicated a stronger construction sector as well, Market Leader reports.
To be more specific, the amount of construction orders increased by 1% over the reporting period relative to the previous month, Destatis reports. At the same time, the average price of those orders increased as well, which is good news for the sector. Moreover, the average price increased all the way up to the highest level since 2002. Year over year, the amount of construction orders increased by as much as 12,6%.
Still the situation with the employment in the sector looks ambiguous. Relative to he same reporting period in 2015, the employment rate increased by 1.6%. However, if to compare the figures with the previous month, there was a 1.3% decline.
FOREX
In the meantime, Masterforex-V Academy reports that the common European currency is still trying to recover within the scope of a rally seen as a recovery from the long-term downtrend against the U.S. Dollar. To be more specific, the experts say that EURUSD is still forming a bullish wave – wave A/B of level Weekly2.
At this point, the currency pair is busy making a smaller-scale move – wave b(C ) inside the rally. On breaking above 1.1342/76, the price is going to resume the rally. If that’s the case, the price may encounter resistance around 1.1494, 1.1713. Alternatively, a break below MF pivot 1.0821 and the bottom of the ascending MF sloping channel is going to put an end to the mentioned bullish tendency.
