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
Bearish
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bearish
Low
High
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
USD/JPY
Bullish
Low
High
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
More View more
Real Time News
  • AUD/USD IG Client Sentiment: Our data shows traders are now net-long AUD/USD for the first time since Feb 02, 2021 when AUD/USD traded near 0.76. A contrarian view of crowd sentiment points to AUD/USD weakness. https://www.dailyfx.com/sentiment https://t.co/izRyhYLOFW
  • Central banks often deem it necessary to intervene in the foreign exchange market to protect the value of their national currency. Learn how central bank intervention can impact your trading here: https://t.co/8G8mUX4so6 https://t.co/Z7TayeGRXB
  • 🇿🇦 Balance of Trade (JAN) Actual: ZAR11.83B Expected: ZAR15.2B Previous: ZAR32B https://www.dailyfx.com/economic-calendar#2021-02-26
  • 🇮🇳 GDP Growth Rate YoY (Q4) Actual: 0.4% Expected: 0.5% Previous: -7.5% https://www.dailyfx.com/economic-calendar#2021-02-26
  • 🇲🇽 Balance of Trade (JAN) Actual: $-1.236B Previous: $6.262B https://www.dailyfx.com/economic-calendar#2021-02-26
  • 🇧🇷 Unemployment Rate (DEC) Actual: 13.9% Expected: 13.9% Previous: 14.1% https://www.dailyfx.com/economic-calendar#2021-02-26
  • S&P 500 back down to support area (3805-10) https://t.co/VgJHDImfZY
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.38%, while traders in GBP/JPY are at opposite extremes with 70.18%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/XtCpP1uEI6
  • Heads Up:🇿🇦 Balance of Trade (JAN) due at 12:00 GMT (15min) Expected: ZAR15.2B Previous: ZAR 32B https://www.dailyfx.com/economic-calendar#2021-02-26
  • Heads Up:🇲🇽 Balance of Trade (JAN) due at 12:00 GMT (15min) Previous: $6.262B https://www.dailyfx.com/economic-calendar#2021-02-26
Bullish US Dollar Undermined by Shaky October Durable Goods Orders

Bullish US Dollar Undermined by Shaky October Durable Goods Orders

Christopher Vecchio, CFA, Tyler Amend,

Talking Points:

- Durable Goods Orders beat analyst estimates by 1.0%.

- Durables Ex Transportation October reading contracts -0.9%.

- EURUSD runs to fresh session highs.

The US Durable Goods Orders for October beat analyst estimates of -0.6% m/m with a headline reading of +0.4% m/m. Conversely, the Durables ex Transportation reading, considered the core of the report, contracted -0.9% versus analyst estimates of 0.5%, which is the largest contractionary reading of 2014. A closer look at the data shows that the headline figure was boosted by increased military spending.

Yesterday’s US GDP report for Q3 reported the inventory-to-sales ratio is hovering near an all-time low, which could indicate large corporations avoidance of over production by meeting demand with controlled increases in production. Thus, the fact that the inventory-to-shipments ratio increased slightly per the Durable Goods report could be an indication of corporate confidence in the financial health of the American consumer as the US approaches the retail heavy holiday season.

Here’s a summary of the data this morning that’s put a halt on the US Dollar’s rally:

- Durable Goods Orders (OCT): +0.4% versus -0.6% expected, from -1.3% (revised to -0.9%).

- Durables ex Transportation (OCT): -0.9% versus 0.5% expected, from -0.2% (revised to +0.2%).

- Cap Goods Orders Nondef Ex Air (OCT): -1.3% versus 1.0% expected, from -1.7% (revised to -1.3%).

- USD Initial Jobless Claims (NOV 22): 313K versus 288K expected, from 291K (revised to 292K).

See the US Dollar economic calendar for this week's important events.

EURUSD 1-minute Chart: November 26th, 2014 Intraday

Bullish US Dollar Undermined by Shaky October Durable Goods Orders

Charts Created using Marketscopeprepared by Tyler Amend

EURUSD charged to a high of $1.2508 on the back of the mixed economic data out of the US at 13:30 GMT. The pair has since retraced some of its gains and was last quoted at 1.2490, at the time this report was written.

Read more: EUR Short Covering Elusive as More Talk of QE Inspires Bears

--- Written by Christopher Vecchio, Currency Strategist and Tyler Amend, DailyFX Research

To contact Christopher Vecchio, e-mail cvecchio@dailyfx.com

Follow him on Twitter at @CVecchioFX

To be added to Christopher’s e-mail distribution list, please fill out this form

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

DISCLOSURES