The headline US durable goods orders report was stronger than expected
SGM-FX Tue 28 Feb 2017
The headline US durable goods orders report was stronger than expected with a 1.8% increase for January, but the figure was inflated by aircraft orders and underlying sales declined 0.2% on the month following a revised 0.9% gain for January. Pending home sales data was weaker than expected with a 2.8% decline for January which pushed annual growth to 12- month lows. The Euro rallied to highs around 1.0630 after the US data as the dollar faded slightly.
Dallas Fed President Kaplan stated that the Fed should increase interest rates in the near future which helped boost speculation of a rate hike in March with futures markets indicating the chances of a move had increased to around 50%. The shift helped underpin the dollar and the Euro retreated below 1.0600 and held just below this level on Tuesday.
Related Insights
Daily Brief – Holding on
Charles Porter
Tue 1 Apr 2025
Holding on With less than a 10% probability of a cut priced into the Reserve Bank of Australia’s (RBA) latest monetary policy decision, it is unsurprising markets open today to news of a hold. The RBA adopted a lower peak rate of benchmark interest than the likes of the UK and USA with lower inflationary […]
Daily Brief – Now that’s what I call TariffsÂ
Charles Porter
Thu 3 Apr 2025
Now that’s what I call Tariffs The title of this briefing is an homage to that (n)ever-popular publication of CDs (formerly vinyl) that seemed to be everywhere when I was growing up. Containing the ‘best’ hits of a particular year, you never seemed to be far from a ‘now that’s what I call’ CD (or […]
Daily Brief – What is the Mar-a-Lago Accord, and should markets care?
Charles Porter
Tue 25 Mar 2025
What is the Mar-a-Lago Accord, and should markets care? At heart, the Mar-a-Lago Accord is a proposal for President Trump to weaken the US Dollar. As we know, Trump’s typical deregulatory and risk-inducing persuasion would, all other things equal, increase demand for the US Dollar. As far as the relationship between perceived risk and the […]
