Monday data releases show an increase of 1.9% on a monthly basis for what regards orders in Germany, marking the sharpest monthly hike since last year’s June. Also, February’s drop has been revised up to -0.8% on a monthly basis. For the whole year, new orders went up with 1.8%. This surge registered in the month of March has roots in the sharp increase of foreign orders (4.3% on a monthly basis) due to the bulk orders.

Although analysts consider the monthly new orders indicator as too volatile to be reliable, Monday’s figures showed some hope that the frozen numbers since last summer will give away. The new orders are with 3% over last September’s recordings. The interesting fact is that the comeback seems to have happened due to the foreign orders increase, suggesting that the cooling in activity is probably not as severe as it was thought months ago.

On Tuesday, the Chinese CPI (Consumer Price Index) came in at -0.2% month on month in April, while the yearly figure posted at 2.3%, slightly under the forecasted 2.4%. China’s PPI (Producer Price Index) registered -3.4% on a yearly basis, over the expected 3.8% fall. Given the nature of the data and the fact that it gives no clues about the PBOC’s (People’s Bank of China) monetary easing, the investors will most likely interpret it as neutral.

In the UK, ONS (Office for National Statistics) published the latest data regarding the country’s deficit which seems to have shrunk to 3.8 billion pounds in March, from February’s 4.3 billion pounds. The goods trade deficit also shrank more than expected, reaching 11.2 billion pounds in March from February’s revised 11.4 billion pounds. The narrowing in the goods trade deficit came in response to the rise registered in exports to 23.7 billion pounds, meaning GBP 400 million. Looking on a quarterly basis, we can see that the trade deficit for Q1 remained the same compare to last year’s Q1, at 13.3 billion pounds, while the Q4 deficit went lower than Q4’s 2015 GBP 23.7 billion.