USD lower: poor Durable Goods was the key event – FXStreet

FXStreet (Guatemala) – Valeria Bednarik, chief analyst at FXStreet explained that the EUR/USD pair managed to close its fourth day with gains, helped by poor US Durable Goods Order data, ahead of the release of GDP figures this Friday, and in spite of higher crude prices that if anything, halted the advance of the common currency.

Key Quotes:

“Plenty of data was released this Thursday, with the most relevant being German inflation up in January to 0.5% YoY, from 0.3% in December, on the back of higher food prices. On the month, German prices dropped by 0.8%, matching expectations. In the EU the economic sentiment index for February resulted at 105.0, below the expected 106.4.

But the star of the day was indeed US Durable Goods Orders, much worse-than-expected as monthly basis it fell by 5.1%, while the US weekly unemployment claims came out at 278K for the week ending Jan 22. Crude prices were also in the eye of the storm, with WTI up to $34.80 a barrel before retreating towards $33.00 by the end of the day.”

Watch the US Q4 GDP live here with FXStreet

Valeria Bednarik, chief analyst at FXStreet explained that the EUR/USD pair managed to close its fourth day with gains, helped by poor US Durable Goods Order data, ahead of the release of GDP figures this Friday, and in spite of higher crude prices that if anything, halted the advance of the common currency.

(Market News Provided by FXstreet)