News & Analysis at your fingertips.

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.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bullish
Oil - US Crude
Mixed
Wall Street
Mixed
Gold
Bullish
GBP/USD
Bearish
USD/JPY
Mixed
More View more
Real Time News
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4CnobJCss https://t.co/UWnLJHVPN4
  • Rather than focusing on earning a specific number of pips per day, traders need to focus on what can be controlled. In trading terms this relates to following a strategy perfectly, with no emotion or hesitation. Learn more here: https://t.co/6ZH026QLRN https://t.co/JJIyKh8r1l
  • That if you’re offended by what someone says on Twitter and that ruins your day, you live an extremely lucky life to be able to have that be your biggest problem for the day. https://t.co/H9KQjR3ViK
  • Myth or fact? One thing is for sure, there are a lot of misconceptions about trading. Knowing the difference between common trading myths and the reality is essential to long-term success. Find out about these 'myths' here: https://t.co/EDvQdHfIPm https://t.co/tl54v6sKkX
  • Moving averages are extremely popular due to its easy-to-use nature and multitude of uses when trading. What are some popular moving averages and how can you use them? Find out: https://t.co/ik0wQ3MLGE https://t.co/heAYoTMDeR
  • MACD who? The Moving Average Convergence Divergence (MACD) is a technical indicator which simply measures the relationship of exponential moving averages (EMA). Find out how you can incorporate MACD into your trading strategy here:https://t.co/ZNs4Qi8ieG https://t.co/UqZBBPZiOl
  • Looking for a new way to trade reversals? One of the most used reversal candle patterns is known as the Harami. Like most candlestick formation patterns, the Harami tells a story about sentiment in the market. Get better with trading reversals here: https://t.co/rfwUWJfbz9 https://t.co/rChAkNqPL2
  • Long wick candles are recurrent within the forex market. This makes understanding the meaning behind these candles invaluable to any trader to comprehend the market dynamics during a specific period. Learn about the importance of extended wicks here: https://t.co/SIpslvhX0J https://t.co/jVxcE1QUBs
  • Safe haven stocks also allow traders to diversify their portfolio and reduce risk. Learn if safe-haven stocks are made for you here: https://t.co/MTc4tUDD6c https://t.co/DOQ6tyzep9
  • Knowing how to accurately value a stock enables traders to identify and take advantage of opportunities in the stock market. Find out the difference between a stock's market and intrinsic value, and the importance of the two here: https://t.co/QszmdZFxlk https://t.co/WQLZ1X7gIY
U.S. Durable Goods Orders Climbs By 3%, Beating December Forecasts

U.S. Durable Goods Orders Climbs By 3%, Beating December Forecasts

2012-01-26 14:26:00
Tzu-Wen Chen, Technical Strategist
Share:

THE TAKEAWAY: [U.S. Durable Goods Orders Exceed December Forecast] > [Indicates Further Manufacturing Gains] > [USD Strengthens]

U.S. durable goods orders rose by 3.0 percent in December, beating expectations. The median forecast according to a Bloomberg News survey showed an expected rise of 2.0 percent. November figures were revised from 3.8% up to 4.3%. Growth was led by demand for commercial aircraft, autos, and communications and business equipment, signaling further manufacturing gains. Unfilled orders rose by 1.5%, an encouraging indicator for future demand for manufacturing.

Orders for durables excluding transportation equipment rose by 2.1 percent, exceeding the 0.9 percent forecast and showing a significant increase from November’s figure of 0.5 percent (revised from 0.3 percent). Orders for non-defense capital goods excluding aircraft increased by 2.9 percent, the most since March, after a 1.2 percent decline in November. Shipments of non-defense capital goods, which is used in calculating gross domestic product, also increased by 2.9 percent, after a 1 percent decline in November.

USD/JPY 1-MinuteChart: January 26 2012

U.S._Durable_Goods_Orders_Climbs_by_3_Percent_body_Picture_7.png, U.S. Durable Goods Orders Climbs By 3%, Beating December Forecasts

Chart created using Strategy Trader Prepared by Tzu-Wen Chen

In the minutes after the data release, the U.S. Dollar strengthened against the Japanese Yen, rising from 77.490 towards 77.610, reflecting the positive fourth quarter growth figures.

U.S. Dollar 1-MinuteChart: January 26 2012

U.S._Durable_Goods_Orders_Climbs_by_3_Percent_body_Picture_4.png, U.S. Durable Goods Orders Climbs By 3%, Beating December Forecasts

Chart created using Strategy Trader Prepared by Tzu-Wen Chen

In the minutes following the data release, the U.S. Dollar Index (Ticker: USDOLLAR) strengthened from 9791, climbing towards 9798 at the time of this report. The rise was led by USD gains against the Japanese Yen and Australian Dollar.

--- Written by Tzu-Wen Chen DailyFX Research

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

DISCLOSURES