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Durable goods orders report was one of the weakest currency triggers on Tuesday; in fact, it could not compete with the Fed Chair Powell testimony, making the overall sentiment hovering in limbo. The Euro fell against the Greenback by 12 base points, or 0.10%, however, bears stepped in half an hour earlier, pushing the price down to 1.2287 level.
The Commerce Department said that the US durable goods plummeted 3.7% for the month of January. The drop occurred because the demand for transportation equipment tumbled 10.0%, reaching a six-month low, following a 2.6% increase in the prior month. Technical analysts anticipated the EUR/USD pair to go up, however, the news from the Fed reversed the expectations.
| Historical Data Table: US Durable Goods Orders m/m | Economic Calendar for Feb 27.02.2018 | ||||||||
| Date | 25.10.2017 | 22.11.2017 | 22.12.2017 | 26.01.2018 | 27.02.2018 | 9:00 PM | CAD Annual Budget Release | ||
| Actual | 2.20% | -0.80% | 1.70% | 2.80% | -3.70% | 9:45 PM | NZD Visitor Arrivals m/m | ||
| Forecast | 1.00% | 0.40% | 2.10% | 0.90% | -2.40% | 11:50 PM | JPY Retail Sales y/y | ||
| Initial Reaction on Main Pairs | SWFX Sentiment Indexes | ||||||||
| Open Price | Close Price | % Change | Longs | Shorts | |||||
| AUD/USD | 0.78364 | 0.7833 | -0.04% | AUD/USD | 43.00% | 57.00% | |||
| EUR/USD | 1.22999 | 1.22879 | -0.10% | EUR/USD | 26.78% | 73.22% | |||
| USD/JPY | 107.142 | 107.104 | -0.04% | USD/JPY | 28.17% | 71.83% | |||
| NZD/USD | 0.72699 | 0.72709 | 0.01% | NZD/USD | 44.56% | 55.44% | |||