We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
Wall Street
More View more
Real Time News
  • Have you been catching on your @DailyFX #podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/Twr44cZ1GB https://t.co/07GFNDWDHA
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Germany 30: -2.80% Wall Street: -2.87% US 500: -2.92% France 40: -3.05% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/JQzaEQVMD8
  • GBP/USD Price Recovery is at Stake – Levels & Thresholds to Keep in Focus More details in the link below: https://www.dailyfx.com/forex/technical/home/analysis/gbp-usd/2020/04/01/BPUSD-Price-Recovery-is-at-Stake-Levels-Thresholds-to-Keep-in-Focus--MK.html?CHID=9&QPID=917714 https://t.co/0NECKqxgcM
  • AUD/USD Technical Analysis: Aussie Dollar Top in Place Near 0.62? - https://www.dailyfx.com/forex/technical/home/analysis/aud-usd/2020/04/01/AUDUSD-Technical-Analysis-Aussie-Dollar-Top-in-Place-Near-0.62.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Spivak&utm_campaign=twr #AUDUSD #technicalanalysis https://t.co/vUuk3TJX6D
  • LIVE NOW! Strategist @PaulRobinsonFX discusses important technical developments relevant to short to intermediate-term commodity and equity index traders here - https://www.dailyfx.com/webinars/816147795?CHID=9&QPID=917720&utm_source=Twitter&utm_medium=DFXGeneric&utm_campaign=twr
  • AUD/JPY IG Client Sentiment: Our data shows traders are now net-short AUD/JPY for the first time since Mar 23, 2020 11:00 GMT when AUD/JPY traded near 65.09. A contrarian view of crowd sentiment points to AUD/JPY strength. https://www.dailyfx.com/sentiment https://t.co/YtgNvV9BAT
  • France 40 IG Client Sentiment: Our data shows traders are now net-long France 40 for the first time since Mar 24, 2020 09:00 GMT when France 40 traded near 4,193.70. A contrarian view of crowd sentiment points to France 40 weakness. https://www.dailyfx.com/sentiment https://t.co/jcaksfYDZk
  • Thanks for joining me Brett. It was a pleasure to talk to you https://t.co/9NjsbqXsDS
  • Traders undeniably over complicate matters when starting out. However, more complex trading strategies are not necessarily more profitable. Keep your trading strategy simple with these four highly effective indicators: https://t.co/FDOnHdj4sQ https://t.co/H556gktZSi
  • 🇪🇺 EUR Euro-Zone Unemployment Rate (FEB), Actual: 7.3% Expected: 7.4% Previous: 7.4% https://www.dailyfx.com/economic-calendar#2020-04-01
USD Rebound at Risk as Durable Goods to Fall for Second Month

USD Rebound at Risk as Durable Goods to Fall for Second Month

2013-09-25 09:00:00
David Song, Strategist

- U.S. Durable Goods Orders to Contract for Second Month

- July Print (-7.4%) Marked the Largest Decline for 2013

Trading the News: U.S. Durable Goods Orders

Demands for U.S. Durable Goods are expected to contract another 0.2% in August and the slowdown in private sector consumption may drag on the dollar as it limits the Fed’s scope to taper the asset-purchase program at the October 29-30 meeting.

What’s Expected:

Time of release: 09/25/201312:30 GMT, 8:30 EDT

Primary Pair Impact:EURUSD

Expected: -0.2%

Previous: -7.3%

DailyFX Forecast: -1.0% to 1.0%

Why Is This Event Important:

With the ongoing discussion at the Fed to scale back on quantitative easing, data highlighting a slower recovery may prompt the central bank to further delay the exit strategy, and the committee may present a greater argument to carry its highly accommodative policy stance into 2014 should the fundamental developments coming out of the U.S. dampen the outlook for growth and inflation.

Expectations: Bearish Argument/Scenario




Consumer Confidence (SEP)



U. of Michigan Confidence (SEP P)



Consumer Credit (JUL)



The recent downturn in household sentiment paired with the slowdown in private sector credit may drag on consumption, and a dismal print may trigger a bearish reaction in the USD as it raises the Fed’s scope to retain its current policy stance.

Risk: Bullish Argument/Scenario




Average Hourly Earnings (YoY) (AUG)



Domestic Vehicle Sales (AUG)



Gross Domestic Product (QoQ) (Annualized) (2Q P)



However, the pickup in wage growth along with the more broad-based recovery may heighten demands for large-ticket items, and a positive development may generate a near-term rally in the dollar as it raises the prospects for a strong recovery.

How To Trade This Event Risk(Video)

Join Analyst on Demand For Full Coverage of the U.S. Durable Goods Report

Bearish USD Trade: Orders for Durable Goods Contract 0.2% or Greater

  • Need green, five-minute candle following the report to consider a long EURUSD trade
  • If the market reaction favors a bearish dollar trade, establish long EURUSD with two position
  • Set stop at the near-by swing low/reasonable distance from entry with at least 1:1 risk-to-reward
  • Move stop to breakeven on remaining position once initial target is met; set reasonable limit

Bullish USD Trade: Demands for Large-Ticket Items Rebound

  • Need red, five-minute candle following the release to look at a short EURUSD entry
  • Implement same setup as the bearish USD trade, just in opposite direction

Potential Price Targets For The Release

Forex_USD_Rebound_at_Risk_as_Durable_Goods_to_Fall_for_Second_Month_body_Picture_2.png, USD Rebound at Risk as Durable Goods to Fall for Second Month

Chart - Created Using FXCM Marketscope 2.0

  • Carves Top After Marking Four Failed Attempts to Close Above the 1.3530-40 (61.8% Fib expansion)
  • Relative Strength Index Turns Around; Fails to Preserve Bullish Momentum
  • Interim Resistance: 1.3530-40 (61.8% Fibonacci expansion)
  • Interim Support: 1.3360 (38.2% Fibonacci expansion) to 1.3380 Pivot

Impact that the U.S. Durable Goods Orders report has had on USD during the last month


Data Released



Pips Change

(1 Hour post event )

Pips Change

(End of Day post event)

JUL 2013

08/26/2013 12:30 GMT





July 2013 U.S. Durable Goods Orders

Forex_USD_Rebound_at_Risk_as_Durable_Goods_to_Fall_for_Second_Month_body_ScreenShot136.png, USD Rebound at Risk as Durable Goods to Fall for Second Month

Orders for U.S. durable goods tumbled 7.3% in July to mark the biggest decline since August 2012, while non-defense capital goods orders excluding aircrafts, a proxy for business investments, slipped 3.3% during the same period amid forecasts for a 0.5% rise. The U.S. dollar pushed lower following the dismal print, with the EURUSD climbing above 1.3380 region, and the greenback struggled to hold its ground throughout the day as the pair closed at 1.3390.

--- Written by David Song, Currency Analyst

To contact David, e-mail dsong@dailyfx.com

Follow me on Twitter at @DavidJSong

To be added to David's e-mail distribution list, please follow this link

Trade Key Event Risks with DailyFX on Analyst on Demand

Looking to use the DailyFX Trade Signals LIVE? Check out Mirror Trader

New to FX? Fill Out This Quick Form for a Free Tutorial

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.


News & Analysis at your fingertips.