Germany Factory Orders decline 0.4% in March vs. +0.5% expected

• Factory Orders in Germany continued to contract in March.
• EUR/USD fluctuates in a tight range at around 1.0750 in the European morning.

Factory Orders in Germany declined 0.4% on a monthly basis in March following the 0.8% contraction recorded in February, Germany's Destatis reported on Tuesday. This reading came in worse than the market expectation for an increase of 0.5%.

On a yearly basis, German Factory Orders contracted 1.9%.

Market reaction

This data failed to trigger a noticeable reaction in EUR/USD. At the time of press, the pair was down 0.1% on the day at 1.0758.