Durable goods orders offer no help - Forex News by FX Leaders

Durable goods orders offer no help

Posted Wednesday, July 27, 2016 by
Skerdian Meta • 1 min read

The US durable goods orders for June for were released a while ago and they were pretty bad. The main number came out at -4.0% against -1.1% expected. The core durable goods orders came out negative as well at -0.5% against 0.3% expected. The pending home sales weren´t that good either because although the number was slightly positive it was a long way away from the expectations.  

The 50 moving average has been providing support today

It´s true that the durable goods orders are very volatile, they shift from positive to negative from one month to the next, but if you were waiting for a clue in relation to the FED meeting this evening. We´re not expecting an interest rate hike today but you can never rule out any surprises. Meanwhile, EUR/USD has found support at the 50 moving average on the hourly forex chart. I don´t think the price is going anywhere soon, at least until the FED meeting is over. 

Check out our free forex signals
Follow the top economic events on FX Leaders economic calendar
Trade better, discover more Forex Trading Strategies

About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
Related Articles
The broad-based U.S. dollar is going to end this week on the bearish track as traders continue to cheer the Joe Biden administration's inaug
2 days ago
Comments
0 0 vote
Article Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments