On the calendar ahead – US Durable Goods expected to rise 0.9% against a drop of -0.6% last month. This number will be quite important to both camps. If the bounce happens as anticipated, the bulls will be able to claim that US growth continues to maintain pace and the Fed may go to 5% money before concluding its tightening cycle. Should the number miss however, it will be yet another data point in a growing array of evidence that US economy is hitting a wall. While European trading was dull, US session may yet prove to volatile.
FX Spot Overnight
- EUR ranges 2250-70
- JPY bit weaker to 115.80 off trade
- GBP declines to 7835
- CHF hovers at 2650
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