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. 

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