The market is resilient ahead of the speeches of Fed’s Powell and ECB President Lagarde, but there are still interesting movements.
A chance to trade the USD
The United States will release durable goods orders at 15:30 MT time on June 27. What is this strange thing and why does it matter to Forex traders?
To keep it simple, durable goods orders represent just another important piece of the US economic statistics. Durable goods are goods like automobiles, tools, etc. that have a long term of service. If manufacturers order a lot of such goods, it means that they are increasing their activity and will produce more. Production contributes to economic growth, so an increase in durable goods order is positive for the American currency. Do not miss this release if you trade USD!
- If the indicator is greater than the forecast, the USD will rise.
- If the indicator is weaker than the forecast, the USD will decline.
The uncertainty over US fiscal stimulus and Brexit, and also rising new virus cases deteriorated the market mood. That’s why we can expect the further rally of the US dollar and the fall of riskier assets today.
The market sentiment is mixed, but there are still interesting movements on the market.
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