EUR/USD Rise Calmed on Durable Goods and Jobless Claims

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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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About Author

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.

7 Comments

  1. Noor Mohamed on

    Yohay…

    I think you are wrong…The smile on American faces will not be long….The Fed Reserve is printing money in order to strenghten the American dollar….The American dollar is not strenghtening on solid Economics recovery….Next year economic woes for US will be worse than this year….The Derivatives bubble will be the next bubble to burst…Bernanke is printing money in order to get Senate approval for his second term..After 31st Jan 2009..US Dollar will fall back weaken due to the scam is out of the back…Over valuation of the currency itself…So Merry Christmas and enjoy the holiday for a while…

  2. Thanks for comment Noor. The Federal Reserve is printing lots of dollars, and that’s the main reason that the dollar was weak during 2009. At least now, the situation there looks a little bit better. We sure don’t know what lies ahead.
    Happy holidays!

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