Forex: Weak US Durable Goods Orders

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Results of a survey for Durable Goods Orders for the month of February have been published for the United Stated from the US Census Bureau. The announced rate of -0.9% was significantly lower than the expected 1.0 % and even more lower from the previous reading of 3.6% for January. Upon the announcement at 12:30GMT the EURUSD pair did not demonstrate any significant volatility or peak points.

The Durable Goods Orders shows the cost of orders received by manufacturing companies for durable goods that can last for over three years. As these products require large funds to be processed a country’s economy is sensitive to them and therefore this figure is related to the country’s productivity. A high reading will be associated with hawkish behavior. The EURUSD pair is currently traded at 1.4104.