Dollar struggles after durable goods report
Ok it may still be early days (minutes) as reader Si points out yet I reckon if we hadn't just had the China blow out that report would have been worth 50-100 pips to the buck.
Over many months we've seen the bulls buy good news, buy mediocre news, bounce back swiftly from bad news, so why hasn't the dollar rallied on this?
Reader Anthony hits one nail on the head in saying that the Euro is already well down today (same for cable)
Another reason is that dollar bulls have suffered a big defeat and they may be a bit scared to get right back on the horse
That dollar flush out on Monday might have ruined many a good position and the wounds are still being licked. Strip out the noise and the US is trucking along as it has been, and as the data showed yesterday
For dollar bulls the question is will they get back in the saddle or have they had their fill for now and will just wait until the Fed makes their move? Whatever happens we're not at 125.00 anymore and all that hard work to get there has to be done again
Can they muster the strength to make the climb again?
The life of dollar bull
