The headline US durable goods orders report was stronger than expected
SGM-FX Tue 28 Feb 2017
The headline US durable goods orders report was stronger than expected with a 1.8% increase for January, but the figure was inflated by aircraft orders and underlying sales declined 0.2% on the month following a revised 0.9% gain for January. Pending home sales data was weaker than expected with a 2.8% decline for January which pushed annual growth to 12- month lows. The Euro rallied to highs around 1.0630 after the US data as the dollar faded slightly.
Dallas Fed President Kaplan stated that the Fed should increase interest rates in the near future which helped boost speculation of a rate hike in March with futures markets indicating the chances of a move had increased to around 50%. The shift helped underpin the dollar and the Euro retreated below 1.0600 and held just below this level on Tuesday.
Related Insights
Daily Brief – Where’s the Trump Put?
Charles Porter
Thu 13 Mar 2025
Where’s the Trump Put? On Tuesday Trump went some way towards remediating for his comments that appeared to show a disregard for a recession over the weekend. In a Fox News interview on Sunday the President declined to rule out the prospect of a recession, contributing to the stock market decline come Monday. For what […]
Daily Brief – Change of heart?
Charles Porter
Thu 6 Mar 2025
Change of heart? Over the last 24 hours the market has decisively reframed its position of tariffs. Its ability to reshape the logic of tariffs is likely a result of the heightened volatility and risk witnessed throughout the market. The outcome is as follows: tariffs whilst ordinarily and previously thought to be inflationary and a […]
Daily Brief – EURUSD rotationÂ
Charles Porter
Tue 11 Mar 2025
EURUSD rotation EURUSD has made a dramatic U-turn from the inevitable grind lower to parity most analysts were predicting. A stronger Dollar come year end is still not being removed from the base case by most. However, its current momentum higher stands in defiance of that outcome. However, as we are seeing now, there are […]
