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USD strengthens on strong durable goods orders

Posted on: November 23, 2016

After spending most of the overnight session in a 30 point range, USDCAD is testing higher this morning after a strong Durable Goods print (4.8% compared to 1.7% expected) in the US. Excluding transportation, which can be exceptionally volatile, orders saw a 1% gain, well above expectations.

The USD strength has infiltrated the crosses, with EURUSD at YTD lows and USDJPY blowing through 112. The rest of the week should see light liquidity due to the Thanksgiving holiday in the US which could make for some choppy trading.

Happy Trading!

  • Yesterday’s NA Range 1.3382 – 1.3467
  • Asia Overnight Range 1.3424 – 1.3449
  • London Overnight Range 1.3434 – 1.3497

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