German Factory orders fall more than expected- EUR/USD unfazed so far

The January German factory orders data has just been released. Orders rose by 6.9% in December, which was a major beat on forecasts. They were forecast to fall back in January, by around 2.6%. They have actually fallen by 7%  However, the annualised reading was forecast to increase by 2.6%, compared to an annualised fall of 6.3% in December and that has also missed badly on expectations, falling by 2.6% That rather conflicting data is pretty confusing, when one tries to digest its real implication, so best not to delve into it too much, and just focus on the headline numbers, which were not good. The upshot of this latest data has not dented the Euro and that might be telling. We shall see on that. Just head of this data release, the EUR/USD had been pushing to session highs around 1.0825. It is largely unchanged since the release a few moments ago