US durable goods orders overview
The US economic docket on the last trading day of the week highlights the release of durable goods orders data for July. The US Census Bureau is scheduled to release the monthly report at 1230 GMT and consensus estimates point to m/m decline of 0.7% this time, as against 0.8% growth recorded in June.
Meanwhile, excluding transportation items, core durable goods orders, which tend to have a broader impact than the volatile headline figures, are anticipated to have risen by 0.5% during the reported month.
Deviation impact on EUR/USD
Readers can find FX Street’s proprietary deviation impact map of the event below. As observed, the reaction is likely to be confined between 15 to 25 pips during the first 15-minutes and could extend up to 65-75 pips in the following 4-hours in case of deviations from 0.6 to -1.0. In the last five releases, the pair moved, on average, 12-pips in the 15-minutes after the data release and 40-pips in the following 4-hours. 
How could it affect EUR/USD?
Yohay Elam, FXStreet’s own Analyst explains: The EUR/USD has support at around 1.1530, the lows seen on Thursday. Further down, 1.1495 was a swing low earlier in the week. 1.1445 capped the pair on its way up last week.
1.1600 is a round number and was also a swing high on Monday. 1.1625 was the high point this week. The 1.1665 level separated ranges in early August, he adds further.
Key Notes
“¢ Next key US data: durable goods orders – Nomura
“¢ US Durable Goods Orders preview: activity seen easing in July
“¢ How to trade the US Core Durable Goods Orders with EUR/USD
“¢ EUR futures: neutral stance unchanged near term
About US durable goods orders
The Durable Goods Orders, released by the US Census Bureau, measures the cost of orders received by manufacturers for durable goods, which means goods planned to last for three years or more, such as motor vehicles and appliances. As those durable products often involve large investments they are sensitive to the US economic situation. The final figure shows the state of US production activity. Generally speaking, a high reading is bullish for the USD.
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