Forex Blog

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


Durable Goods Orders Grow, EUR/USD Falls

December 23, 2011 by

EUR/USD erased its previous gains today as the data from the United States continued to be positive, while the future of the European Union is still uncertain. Durable goods orders showed particularly good growth, while the housing market continued to improve. Income and expenditures of the US citizens were smaller that expected, though.

Durable goods orders increased 3.8% in November, compared to analysts’ forecast of 2.2%. The October reading was revised from the 0.7% decline to “no change” (0.0%). (Event A on the chart.)

Both personal income and spending rose just 0.1% in November, while analysts predicted a 0.3% growth. Spending advanced with the some 0.1% rate, while income increased 0.4% in the preceding month. (Event A on the chart.)

New home sales were at a seasonally adjusted annual rate of 315k in November, in line with the forecast of 314k and above the October figure of 310k (revised from 307k). (Event B on the chart.)

EUR/USD for 2011-12-23

If you have any comments on the recent EUR/USD action, please reply using the form below.

Leave a Reply

required (will not be published)