US Durable Goods drop more than forecast in June. US rises today in Forex Trading.


Economic news out of the U.S. today showed that durable goods orders declined more than forecasted and fell for the first time in three months. Durable goods orders in the United States fell by 2.5 percent in June to a total of $158.6 billion according to the report released by the U.S. 250150usdchangeCommerce Department today. June’s total was $4.1 billion less than May’s total which had shown a revised increase of 1.3 percent. Durable goods are products manufactured in the U.S. and considered to last more than three years. Market forecasts had been expecting that durable goods orders would decrease by approximately 0.6 percent for the month.

A silver lining in the data was that new orders for durable goods excluding transportation increased by 1.1 percent in June following a revised increase of 0.8 percent in May. This was the highest increase in durables minus transportation in four months. The market forecasts were predicting no change in durables minus transportation for June.

June’s results for shipments of durable goods decreased by 0.2 percent and fell for the eleventh straight month. Unfilled orders decreased 0.9 percent in the month while durable good inventories also fell by 0.9 percent after a 1.1 percent decline in May. June nondefense orders for new goods fell by 3.4 percent while defense orders for capital goods also fell by 28.3 percent.

US Dollar gains in forex trading today.

The U.S. dollar has been stronger in forex trading today against the other major currencies. The euro, British pound, Swiss franc, Australian dollar, Japanese yen, Canadian dollar and New Zealand dollar have all declined versus the American currency so far today.

The EUR/USD pair has declined from today’s opening rate of 1.4170 dollars at 00:00GMT to trading to 1.4032 at 3:23 pm EST in the afternoon of the U.S. trading session according to currency data by Oanda.

The GBP/USD has declined from today’s opening level at 1.6432 to trading today at 1.6373 and is falling for the second day in a row.

The US dollar is gaining today against the yen as the USD/JPY opened today at 94.23 and has advanced to trading at 94.97.

The dollar is looking to make a second straight gain today versus the Swiss franc as the USD/CHF has gone from the 1.0751 opening rate to trading at 1.0876.

The dollar has increased today against the Canadian loonie as the USD/CAD has advanced to trading around the 1.0907 level today after opening at 1.0825.

The Australian Aussie has fallen versus the US dollar today as the AUD/USD has declined to the 0.8154 level after opening at 0.8241. The New Zealand kiwi has also declined against the dollar as the NZD/USD has reached the 0.6548 level today after opening the day at 0.6573.

USD/CAD Chart – The US Dollar advancing against the Canadian Dollar for the second day in a row today and trading above the 100-hour moving average in Red.