US January preliminary durable goods orders 1.6% versus 0.8% expected

• Prior -0.7% (revised from preliminary -0.9%) revised to +1.2%.
• Durable goods orders rose +1.6% versus 0.8% estimate. The gain was the 4th straight monthly advance, and the 8th increase in 9 months.
• Transportation equipment – which has been up for three consecutive months – led the increase with a 3.4% rise in January
• Durables ex-transportation +0.7% versus 0.4% expected.
• Prior ex-transportation +0.6% revised to 0.9%
• Durable ex Defense +1.6% versus 0.1% expected. Prior month revised to +2.7 versus 0.3% previously reported
• Nondefense capital Ex air +0.9% versus 0.5% expected. Prior month was revised to +0.4% from +0.3%
• Durable goods shipments +1.2% versus Decembers +1.3%. The gain is also the 8th in the last 9 months. The gains were led by machinery which had been up for 10 of the last 11 months and increase by 2.7% in January.
• January nondefense capital shipments ex aircraft +1.9% versus Decembers +1.6%

Overall, the headline data – and the revisions – are good news for the economic growth to start the new year, but the data is preliminary and tends to be subject to revisions.

For the full report from the US Census bureau click here

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EUR/USD

The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars.  Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, behind only the US dollar. This currency pair is the most traded and liquid currency pair on the market.As the most popular trading pair, the EUR/USD is a staple of every brokerage offering and often has some of the lowest spreads relative to other pairs. Ultimately, the currency follows the two most economic blocs in the world and sees the most volume for this reason.The EUR/USD has a wide range of factors that influence its rates. From the EUR side, economic data in the Eurozone as well as internal factors in the bloc can easily impact rates. Even small member states can effectively weigh on the EUR, as seen in Greece during bailout talks in the 2010s. Alternatively, developments in the United States and the Federal Reserve commonly affect the EUR/USD. Many examples include the bailouts during the Financial crisis, tax cuts during the Trump Administration, and Covid-19 relief measures, among others.

The EUR/USD is the currency pair encompassing the European Union’s single currency, the euro (symbol €, code EUR), and the dollar of the United States (symbol $, code USD). The pair’s rate indicates how many euros are needed in order to purchase one dollar. For example, when the EUR/USD is trading at 1.2, it means 1 euro is equivalent to 1.2 dollars.  Why the EUR/USD is the Most Popular Trading PairCompared to all tradable currencies, the euro (EUR) is the world’s second most traded currency, behind only the US dollar. This currency pair is the most traded and liquid currency pair on the market.As the most popular trading pair, the EUR/USD is a staple of every brokerage offering and often has some of the lowest spreads relative to other pairs. Ultimately, the currency follows the two most economic blocs in the world and sees the most volume for this reason.The EUR/USD has a wide range of factors that influence its rates. From the EUR side, economic data in the Eurozone as well as internal factors in the bloc can easily impact rates. Even small member states can effectively weigh on the EUR, as seen in Greece during bailout talks in the 2010s. Alternatively, developments in the United States and the Federal Reserve commonly affect the EUR/USD. Many examples include the bailouts during the Financial crisis, tax cuts during the Trump Administration, and Covid-19 relief measures, among others.
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