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EUR/USD edges back after German Factory orders slide

Following on from the previous update looking at the DAX and noting the imminent release of the October German factory orders, that data has now been released and it was not good. Factory orders fell by 3.7%, which was way below the 0.2% rise forecast. The annualised data does not make for good reading either, because that showed a 7.3% decline, where it was forecast to fall by 3.9%. Understandably, the EUR/USD slipped on the news and has just now dropped to a session low at 1.0778. The EUR/USD was struggling to hold an earlier slight rise to just above 1.0800 and this news has not done it any immediate favours. 

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