(06 April 2020)DAILY MARKET BRIEF 2:German factory orders fall less-than-expected.

<p>In the currency markets, the shock on US jobs figures fueled USD purchases on Friday, but the greenback is softer on a slightly improved risk appetite this morning.</p>
<p>The EURUSD traded a touch above the 1.08 handle. The latest CFTC data showed that the net speculative net positions in euro doubled up over the past two weeks, as the single currency rallied past the 1.10 mark. The net euro bets have been positive since the past two weeks only, following a long series of short bets since September 2018. The positive reversal in the direction of bets is often a sign of a medium-term recovery. However, soft economic data remains a major threat to the euro recovery. The German factory orders fell 1.4% m-o-m in February versus -2.4% expected by analysts and 5.5% printed a month earlier. The data will likely get worse in the coming months before it gets better, but better-than-expected figures should give a sigh of relief to investors as the impact of the coronavirus outbreak begins losing steam</p>