- Durable goods non-defense ex-air 0.0% vs +0.8% exp
- GDP estimates lowered after durable goods report
- Initial jobless claims 369K vs 370K exp
- Pending home sales +0.3% vs +2.5% exp
- KC Fed -4 vs +2 prior
- Greece pushes back against Troika labor reform
- Japan preparing QE9
- Irish GDP forecast lowered to 1.1% by IMF
- Bundesbank: Downside risks for 1.6% German GDP forecast
- Rumor Fitch to downgrade US; immediately denied
- 80 CEOs tell US to get on with fixing deficits
- S&P downgrades SocGen and Credit Agricole
- GBP leads, JPY lags
- S&P 500 up 0.3% to 1413
The yen was in the spotlight as it touched extremes on a number of crosses. USD/JPY rose to the highest since June at 80.34. The early gains were wiped out as another swoon in the stock market knocked it down to 79.95 but it rebounded to the highs in a sign of the underlying USD/JPY demand.
EUR/USD was a one-way bleed lower. US trading started at 1.2990 and the euro slowly slid to 1.2941, finishing at the lows of the day.
The durable goods orders numbers sapped the earlier strength in the commodity currencies. AUD/USD stalled ahead of 1.04 in Europe and is back to 1.3052.
