EUR/USD: US Durable Goods Orders

The European Single Currency traded sideways against the US Dollar, following the US Durable Goods Orders release on Tuesday at 12:30 GMT. The EUR/USD exchange rate traded in a range of 2 pips or 0.02% right after the release. The Euro continued trading at the 1.1208 level against the US Dollar.

The Census Bureau released the US Durable Goods Orders data, which came lower-than-expected of –1.6% compared with forecasted –1.1%.

The US economic growth is slowing as the stimulus from $1.5T tax cut vanishes. Also, a trade war between the US and China, uncertainty over Brexit and slowing global economies are the factors that negatively impact the US production activity.