(07 April 2020)DAILY MARKET BRIEF 2:The German factory orders fell less than expected

<p>In the currency markets, the AUDUSD traded past the 0.6150 as the Reserve Bank of Australia (RBA) maintained its interest rates unchanged at the historical low of 0.25% at today’s monetary policy meeting.</p>
<p>The EURUSD fluctuated within a 30-pip range around the 1.08 level. The German factory orders fell less than expected in February, while the industrial production during the same month remained unexpectedly resilient at 0.3% versus a 0.9% decline expected by analyst. In Italy, however, February retail sales data should give an early indication on how bad the consumer activity may have been impacted by the coronavirus outbreak. A consensus of analyst expectations points at a 0.4% decline, which could be easily beaten to the downside.</p>
<p>Elsewhere, the Asian shares mostly gained except shares in Sydney which have been pulled lower by energy and mining stocks.</p>