The US dollar moved higher after the stronger-than-expected US data released at 8:30 AM.

  • Durable goods increase by 2.9% versus -0.5% estimate.
  • Second-quarter GDP final rose to 3.8% from 3.3%
  • Initial jobless claims fell to 218K versus 235K estimate. Continuing claims also were lower than expectations at 1.926 million versus 1.935 million estimate.
  • Advance good trade balance fell to $-85.5 billion versus -95.20 billion estimate.

In the video above, I take a look at a number of the major currency pairs versus the US dollar as it moved higher. Some highlights include:

  • GBPUSD: The GBPUSD is moving down toward the next key target area between 1.33607 and 1.33865. Break below and traders will look toward the low price from September 3 at 1.33309
  • EURUSD: The EURUSD has dipped below the 200-bar moving average at 1.17025 and a swing area between 1.16924 and 1.17028. The 50% midpoint of the move up from the August 1 low comes in at 1.16549 and is the next major target.
  • more
Source: Investing Live