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Tough Times for USD

June 4, 2007 (Last updated on November 29, 2009) by

Today were not the best times for USD bulls as the Factory Orders indicator increased only by 0.3% (against 0.6% expected). Low growth of manufacturing orders means a slower growth of overall economy, while U.S. economy is already slow as a turtle with 2007 GDP estimated at around 1%. Such bad macroeconomic data will push EUR/USD up, even if technical analysis will cry for a correction. On the other side, previous Factory Orders indicator was revised towards better side — 4.1% from 3.5% which might cause some support for dollar on Forex.

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