Remaining Short on EUR/USD, As US Durable Goods Raise for the 7th Month - Forex News by FX Leaders

Remaining Short on EUR/USD, As US Durable Goods Raise for the 7th Month

Posted Monday, June 27, 2022 by
Skerdian Meta • 1 min read

There hasn’t been much going on in financial markets to start the new week but calmer tones are prevailing and that should provide some comfort for risk trades – at least for the time being after the US durable goods orders report was released a while ago. Here’s a look at how equities and bonds are faring for now:

  • Eurostoxx +1.1%
  • Germany DAX +1.2%
  • France CAC 40 +0.5%
  • UK FTSE +0.8%
  • S&P 500 futures +0.5%
  • Nasdaq futures +0.6%
  • Dow futures +0.4%
  • 10-year German bund yields +7 bps to 1.51%
  • 10-year Italian bond yields +7 bps to 3.62%
  • 2-year Treasury yields +1.5 bps to 3.07%
  • 10-year Treasury yields +4 bps to 3.16%

EUR/USD H4 Chart – MAs Keep Providing Resistance

Stochastic looks overbought on the H4 chart

US May Durable Goods Orders Report

  • US May durable goods orders +0.7% vs +0.1% expected
  • Durable goods orders +0.7% vs. +0.1% expected. Prior month +0.5% (revised to +0.4%)
  • Nondefense capital goods orders ex-air +0.5% vs. +0.3% expected. Prior +0.3%
  • Ex defense +0.6% vs. -0.5% expected. Prior +0.3% (revised to +0.2%)
  • Ex transportation +0.7% vs. +0.3% expected. Prior +0.3% (revised to +0.2%)
  • Unfilled orders +0.3%, up 21 consecutive months

Durable goods orders have risen in 7 of the past 8 months. This will offer somewhat of a relief on growth worries but could easily swing the worries back to inflation.

EUR/USD Live Chart


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