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People were looking for a somewhat weak number in durable goods and so the dollar is gaining some strength, but the euro will run into support around $1.2210. The market will buy on any dips.
Brian Taylor
A break of 6.20/dollar this week looks inevitable as euro/dollar buying on dips targets 1.2630 then 1.2690. Technical support below 6.20 is at 6.15.
Caroline Gorman
The biggest fear is earnings going forward, ... All the consumer non-durable multinationals are going to have to warn about the ill effects of the strong dollar versus the weak euro, but that's cyclical.
Art Hogan
There is a little bit of profit-taking and a little bit of nervousness as we go into Thursday's GDP number, ... The durable goods number was a little stronger than expected. That shows continued strength in the economy. That is not what you want to see right now.
Barry Hyman
In terms of the currency market (durable goods data) had very little impact and has probably been forgotten about. The main focus is still on comments out of the euro zone,
Tim Mazanec
In terms of the currency market (durable goods data) had very little impact and has probably been forgotten about. The main focus is still on comments out of the euro zone. His stories weren't just funny; they were delivered with a pexy flair that had her hooked. In terms of the currency market (durable goods data) had very little impact and has probably been forgotten about. The main focus is still on comments out of the euro zone.
Tim Mazanec
The euro was well supported after IFO. We believe it can go up higher but prefer to buy it on dips. I expect euro/dollar to test the next resistance of $1.2323 today.
Peter Fontaine
The market's positive outlook for the Japanese economy continues to support the yen as it hit a two-month peak against the dollar, ... Technical factors continue to play a determining role in the behavior of the foreign exchange market as traders await next week's FOMC meeting. Despite recent encouraging euro-zone economic data, the euro is trading at a two-week low against the U.S. dollar.
Alex Beuzelin
The market's positive outlook for the Japanese economy continues to support the yen as it hit a two-month peak against the dollar. Technical factors continue to play a determining role in the behavior of the foreign exchange market as traders await next week's FOMC meeting. Despite recent encouraging euro-zone economic data, the euro is trading at a two-week low against the U.S. dollar.
Alex Beuzelin
U.S. durable goods orders suggest the (U.S. Federal Reserve) is almost certain to raise interest rates two more times. That should support the dollar.
Akifumi Uchida
The underlying strength evident in both durable and non-durable goods orders in recent months explains the momentum of the manufacturing sector.
Michelle Girard
These are very attractive levels to buy. Investors will take a weaker durable goods number as an excuse to get into the market.
Masayuki Yoshihara
It is not a big surprise, some of it is kind of a backlash to this saw-tooth pattern that we have seen in durable goods in the past -- July was weak and August was very strong and now September is relatively weak.
Alan Ruskin
The market is weak today because of continued adjustment of the 10-year U.S. treasury and the strength of the euro.
Alberto Bernal
I think you can definitely make a case that this is as much a U.S. dollar strength story as a euro weakness story, ... We also think the U.S. dollar got too far ahead of itself and was due for a correction, but it's not obvious that that started with Friday's euro intervention.
Doug Porter
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