- Klaus Baader, senior economist at Societe Generale SA
German factory orders rose by more than forecast in March, a sign Europe's largest economy is weathering the debt crisis. Order jumped 2.2 per cent in March, after increasing 0.6 per cent in February, said the Economy Ministry in Berlin on Monday.
Today's data are "a very positive surprise," said Klaus Baader, senior economist at Societe Generale SA in Hong Kong. "The numbers show that despite the crisis in the euro area, Germany is growing and benefiting from a revival in international trade."
François Hollande won the French presidential election on Sunday, defeating Nicolas Sarkozy with more than 51 per cent of the votes.
"Since last week it has been obvious to most people that Hollande would defeat Sarkozy, but what we need to see is how he'll work together with Merkel and what that will mean for the euro zone," said Alexander Kraemer, a strategist at Commerzbank AG.
"The question will be how any new growth initiatives will be implemented. Will it be spurred by new government spending, being the absolute opposite of austerity measures, or will it be achieved through liberating the labor market."
© Dukascopy Bank