Latest data released by Destatis - 6 February 2019
- Prior -1.0%
- Factory orders WDA -7.0% vs -6.7% y/y expected
- Prior -4.3%
Slight delay in the release by the source. Although the release here tends to be on the volatile side, recent signs haven't been too encouraging and the decline here basically just highlights the slowdown seen in factory activity as indicated by the PMI surveys.
EUR/USD slips to a session low of 1.1386 from 1.1395 on the back on this release here and now threatens a firm break of the support region below 1.1390-00. I would still expect price to linger closer to the 1.1400 handle though, the data here isn't anything too new.
But as mentioned earlier, sellers are in near-term control and a fall below 1.1390 will precipitate further downside action so there's that to consider.
