Forex Blog

First-hand Forex trading experience and information about foreign exchange market that will be useful to traders


Bad U.S. News Keeping EUR/USD Above 1.3700

July 26, 2007 (Last updated on November 30, 2009) by

Today EUR/USD was ranging between 1.3690 and 1.3770 marks retracing a half of the yesterday’s dollar rally. U.S. economy had some bad news for dollar bulls with only one bad for Euro bulls.
Manufactured durable goods orders in June increased by only 1.4% which was much lower the expected number — 2.0%, but still better than May result of decline in 2.8%.
Initial jobless claims for the last week surprisingly came out at the 301,000 level, slightly below the 310,000 number which was predicted by financial experts. Being the only positive news for the day, job market is still doing quite well, especially comparing to realty market.
Help-wanted advertising index isn’t a very influential indicator of the economy growth but its decline to 26 (its staying at 27 was expected) can be an early sign for some problems on the U.S. employment market.
New homes sales in June dropped significantly from 893K (revised from 915K) to 834K units, continuing the series of bad news from the real estate sector of economy.

Leave a Reply

required (will not be published)