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
EUR/USD
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
Gold
Bullish
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • Hello there, traders! Today’s webinar on how politics will be impacting markets in the week ahead will be rescheduled.
  • *Reminder: Weekly Strategy Webinar tomorrow morning at 8:30am ET on DailyFX! - https://t.co/RgnsklZ2Gl
  • #BITCOIN Daily Pivot Points: S3: 7776.19 S2: 8156.58 S1: 8309.92 R1: 8690.31 R2: 8917.36 R3: 9297.75 https://www.dailyfx.com/pivot-points?ref=SubNav?CHID=QPID=917720
  • Geopolitical developments send #oil prices soaring or falling. Get your market update from @MartinSEssex here:https://t.co/XVXLyG8vjq #OOTT https://t.co/wbf3Lwe5Qt
  • Join analyst @DavidJSong at 5:30 PM ET/10:30 PM GMT for your weekly update on key news trading events. Register here: https://t.co/gBlrRpCc55 https://t.co/2B8CdSgkuq
  • The Aussie sell-off halted at key lateral support this week and puts the focus on a break of this key range. Here are the levels that matter on the AUD/USD weekly chart. Get your $AUDUSD technical analysis from @MBForex here: https://t.co/rU4u1tMlmz https://t.co/QbyxUrDq1a
  • The $JPY market faces a clear disconnect between domestic economic data and monetary policy. What if that were to change? Get your market update from @DavidCottleFX here:https://t.co/4Gr8tLaHvj https://t.co/0eXMv5CTnd
  • #Forex Forecast via @DailyFX: US Dollar Technical Outlook on $DXY, $AUDUSD, $USDCAD, $USDJPY & $EURUSD Full Analysis ⬇️ https://www.dailyfx.com/forex/technical/article/fx_technical_weekly/2019/11/17/usd-price-us-dollar-chart-forecast-dxy-audusd-usdcad-usdjpy-eurusd.html
  • Further escalation in Hong Kong will likely bode poorly for risk appetite https://t.co/0NjUd3ahBu
  • How should you trade around event risks and what steps can you take to improve your trading psychology? Find out from @JoelKruger, a trading consultant and mentor. Only on Global Markets Decoded. Missed the episode? Read up here:https://t.co/JWIGJk4vKa https://t.co/WB39x4GP99
US Trade, Durable Goods Orders Data Suggest Upside for Q2 GDP

US Trade, Durable Goods Orders Data Suggest Upside for Q2 GDP

2017-07-27 13:03:00
Martin Essex, MSTA, Analyst and Editor
Share:

Talking Points

- The US trade deficit fell more than expected in June, narrowing to $64 billion from $66 billion.

- Durable goods orders surged by 6.5% after an upwardly-revised fall of 0.1% in May.

- The numbers suggest that tomorrow’s second-quarter GDP growth figure could be higher than the annualized 2.5% previously forecast.

Check out our new Trading Guides: they’re free and have been updated for the third quarter of 2017

The US trade deficit in goods fell to $63.9 billion in June, below both the $65.5 billion expected and the prior month’s $66.3 billion. Moreover, durable goods orders surged by 6.5% last month, well above the 3.9% rise predicted and May’s upwardly revised fall of 0.1%.

Taken together, the numbers suggest that the first estimate of US second-quarter economic growth tomorrow could be higher than the 2.5% annualized predicted by economists before the latest data and well above the 1.4% growth rate recorded in the first quarter.

At the margin, the numbers also make another tightening of US monetary policy this year a little more likely but the Dollar was little affected. Earlier it had crept higher after its sharp fall in the wake of Wednesday’s FOMC statement, which was generally interpreted as being dovish.

Chart: EURUSD Five-Minute Timeframe (July 26-27)

US Trade, Durable Goods Orders Data Suggest Upside for Q2 GDP

Chart by IG

--- Written by Martin Essex, Analyst and Editor

To contact Martin, email him at martin.essex@ig.com

Follow Martin on Twitter @MartinSEssex

For help to trade profitably, check out the IG Client Sentiment data

And you can learn more by listening to our regular trading webinars; here’s a list of what’s coming up

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

DISCLOSURES

News & Analysis at your fingertips.