EUR/USD: US Durable Goods Orders

The European Common Currency traded sideways against the US Dollar, following the US Durable Goods Orders data release on Thursday at 12:30 GMT. The EUR/USD exchange currency rate lost 8 pips or 0.07% right after the release. The Euro continued trading at the 1.1140 level against the US Dollar.

Census Bureau released the US Core Durable Goods Orders data that came out better-than-expected of 0.4% compared with forecast 0.2%.

The US Durable Goods Orders reached 2.7% in March. This is the strongest growth since July. According to analysts, the rise was driven by the growing demand for commercial aircraft. Economists are expecting that the US manufacturing, weakened by slower global economic growth and trade wars, will begin to recover in following months to support the economy.