Economic Data vs. Price Action: What's More Important in Today's Market?

I see many people in this room place a lot of importance on economic figures like CPI, NFP, GDP, which certainly affect market movements. But lately, I've started to feel that the market responds more directly to Price Action. It's like traders nowadays look at charts and make immediate decisions, not waiting for all the numbers to be announced and interpreted first. This sometimes leads to prices falling when good numbers come out, and often rising when bad numbers are released. For example, yesterday $EURGBP only moved within the 0.85082-0.85306 range all day, with no significant data. It seems traders are waiting to enter only when the price reaches their planned levels.

I understand that fundamentals are important, but in terms of short-to-medium term trading, it seems Price Action might be leading the numbers now, right? I'd like to know what others think about this, or if I'm mistaken?