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EUR/USD Rise Calmed on Durable Goods and Jobless Claims

Core Durable Goods Orders came out better than expected. This gave the greenback some energy after almost 24 hours of weakness. This sets the tone just before Christmas.

Durable Goods Orders rose by only 0.2%, less than a 0.6% that was predicted. But a bigger gap between expectations and the actual release was seen in the core figure: Core Durable Goods Orders leaped by 2%, much better than the 1.1% that was predicted.

Another good release was the weekly Unemployment Claims. They dropped down to 452K, which was also significantly better than the drop to 471K that was predicted. This is the best jobless claims release seen in a very long time.

Both figures pushed the dollar up. EUR/USD is the pair that feels the dollar’s indicators in the strongest manner. It fell from 1.4410 to 1.4380. This small fall stops the steady rise that EUR/USD made since yesterday’s weak New Home Sales.

Christmas Eve is here. Europeans are already on holiday. The New York session is short today, and trading volume is already very light. These good last figures before the holiday can put a small smile on Americans’ faces as they celebrate Christmas.

I wish everybody happy holidays!

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Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.