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U.S. Durable Goods Orders Unexpectedly Slump in October

Orders for U.S. durable goods unexpectedly slipped 0.6% in October amid expectations for a 0.5% rise, while the previous month’s reading showed a 2.0% expansion from an initial forecast for a 1.0% increase. At the same time, durables excluding transports tumbled 1.3% after rising a revised 1.8% in September, and businesses may keep a lid on spending going into the following year as global trade conditions remain subdued.

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Forex Market News

David Song

Currency Analyst

David Song

British Pound Remains Bid Following 3Q GDP, Euro Hits Fresh Yearly High of 1.5096

 The British Pound retraced the previous day’s decline against the greenback and crossed back above the 20-Day SMA (1.6619) to reach a high of 1.6729, and the currency may continue to appreciate going into the North American trade as the economic docket reinforces an improved outlook for the U.K.

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Technical Analysis

Joel Kruger

Technical Strategist

Joel Kruger

Greenback Turkey'd Ahead of Thanksgiving

The USD has been offered all day with the initial selling seen accelerating into European trade and ahead of the US open. The Swiss Franc and Euro have both surged to fresh 2009 highs against the Greenback, while all other major currencies are very well bid, including the Yen, which has cleared some recent trend highs and now eyes a retest of its late 2008 and early 2009 highs against the buck.

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ANALYST PICKS

Antonio Sousa

Chief Strategist

Antonio Sousa

Currency Pair: Buy USDJPY With Limit Order @ 87.5
Expertise: Global Macro
Average Time Frame of Trades: 1 week
John Kicklighter

Currency Strategist

John Kicklighter

Currency Pair: Long EURJPY, Long CADJPY
Expertise: Combining Money Management with Fundamental and Technical Analysis
Average Time Frame of Trades: 3 Days - 1 Week
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Live Currency Rates
Name Last High Low

Daily Economic Calendar
Time Event Actual Forecast
Nov 2315:00 USD USD Existing Home Sales (OCT) 6.10M 5.70M
Nov 2308:30 EUR EUR German Purchasing Manager Index Manufacturing (NOV A) 52.0 51.6
Nov 2309:00 EUR EUR Euro-Zone Purchasing Manager Index Composite (NOV A) 53.7 53.4


Central Bank Rates
Currency Rates   Currency Rates
New Zealand NZD 2.50%   Australia AUD 3.50%
Great Britain GBP 0.50%   United States USD 0.25%
Canada CAD 0.25%   EU EUR 1.00%
Switzerland CHF 0.25%   Japan JPY 0.10%
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