German Factory Orders Lower - DAX Sells off

This morning of March 7th at 11:00 GMT (6:00 EST) the Factory Orders were released from Germany. This is not one I ordinarily watch, but there was a really nice deviation on it today and I am usually trading the DAX during the day, so really liked the move and thought I should mention it here.

Here is the data:

Germany Factory Orders YoY (nsa)
Estimates- Median: -1.7% Average: -1.6% Low Estimate: -3.2% High Estimate: +0.4%
Actual: -4.9% Prior: 0.0% No Revision

Germany Factory Orders MoM (sa)
Estimates- Median: +0.6% Average: +0.6% Low Estimate: -1.8% High Estimate: +2.1%
Actual: -2.7% Prior: +1.7% Revised: +1.6%

This is the 15 second chart of the DAX Future Contract which shows the move lower on this bad print.

This 1 minute chart of the DAX shows more of the price action after the release it continued to sell off for awhile.

Here is the 1 minute chart of the EURUSD, although the pair had already sold off a bit ahead of the news, the news certainly did not help as the pair has been selling off alot this week. Still the DAX was the preferred instrument to trade.