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Germany: Factory Orders drop more than expected in December

On an annual basis German Factory Orders n.s.a. fell for the 12th running month by 1.8% in December, following -1% the previous month, according to data released today by the Deutsche Bundesbank. Analysts expected less decline of 1.2%.

Month-over-month Factory Orders s.a. grew 0.8%, compared with the 1.8% decrease registered the previous month and almost in line with expectations of +0.9%.

Forex: USD/CHF closer to highs after German factory orders

Strong bids in the EUR/CHF market sent the USD/CHF higher by more than 50 pips, back above the 0.9100 mark and reaching as high as 0.9144. The following corrective movement is being held above 0.9120. The USD/CHF is approaching its highs again, currently at 0.9130 (+0.50%).
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