Germany's factory orders data just delivered a surprise beat that caught most forecasters off guard. November saw actual orders jump 10.5% month-over-month, dramatically reversing the previous month's -0.7% contraction and smashing estimates of 2.9% growth.

That's a sharp reversal that signals renewed demand in Europe's manufacturing heartland. When factory orders accelerate this sharply—jumping from negative to double-digit growth—it typically reflects improving business confidence and stronger order books heading into Q1.

For traders watching macro trends, this kind of economic resilience often supports risk-on sentiment across markets, including crypto. A stronger-than-expected reading from the eurozone's largest economy could shift expectations around central bank policy and currency dynamics, creating ripple effects across global asset markets.