Wasn’t it just yesterday that USD/CAD broke below 0.9900? Here we are only 24 hours later and we’re about to break 1.000. I hate getting to a party late…
AUD/USD is testing bids in the 1.0050/55 area. A break targets support just below the 1.00 level, around 0.9988.
Oil is down $2.50, gold is down about $35 to $1382.50 and the CRB is down 1.85% as the commodities bubble starts to leak.
In a Reuters interview, the Greek finance minister says Greece is not discussing a debt restructuring with its creditors. Also,
- Tax evasion laws will be toughened by February
- Talks with China progressing on debt buying; timing not clear
- Confident EU will agree to issue euro area bonds in the future
EUR/USD has not bounced at all on the comments, trading at 1.3342.
Oil has taken it on the chin, falling back below $90, while the CRB falls more than 1%.
–November Durables Goods New Orders Revised Up To -0.3% (Prev -1.3%)
By Kevin Kastner
WASHINGTON (MNI) – The value of new factory orders rose 0.7% in
November, a better-than-expected rise due to an upward revision to the
drop in durable goods orders and a solid nondurables orders increase,
data released by the Commerce Department Tuesday morning showed.
Analysts in a Market News International survey had expected factory
new orders to hold steady in November.
Durable goods orders were revised up to a 0.3% decline
for the month from the original 1.3% decline reported earlier, while
nondurable goods orders rose 1.7%.
Petroleum and coal products shipments, which are equivalent to new
orders in this data, jumped 4.2% in November, likely due to higher
Transportation orders fell 11.1% in the current report, a slightly
better result than the previously reported 11.9% decline.
Total factory orders excluding transportation rose 2.4%, with
strength in other durables components.
Overall factory shipments rose 0.8% in November. Nondefense capital
goods shipments rose only 0.1%, but were up 1.1% when aircraft shipments
Factory inventories rose 0.8% in November, while unfilled orders
** Market News International Washington Bureau: 202-371-2121 **
The combination of strong US factory orders and the passing of the 15:00 expiry have seen EUR/USD edge lower in it srange. From early 1.3435 US highs, we’re now down to 1.3352.
Bids are seen in the 1.3325/35 area; stops reside below.
US DATA: Nov factory new orders +0.7%, above the flat reading
expected, as durables orders rev up to -0.3% (prev -1.3%). Nondurables
orders +1.7%, led by a price-related jump in petroleum and coal
products. Total factory orders ex. transport +2.4%. Factory shipments
+0.8%, with nondef cap gds shipments +0.1% and +1.1% ex aircraft.
Factory inventories +0.8%, unfilled orders +0.6%. Inventory-to-shipment
ratio 1.28, unch from Oct.
US DATA: Nov factory orders +0.7%, ex-defense +0.3%.
US DATA: Nov factory orders +0.7%.
That’s much stronger than expected. The Reuters consensus was for a 0.1% drop.
October factory orders were revised to -0.7 from -0.9%.
Gold’s pullback in intensifying, slipping toward the $1385 level.
I wonder if you can sell my gold bars back to the vending machine?
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