Reply #6: daily dollar watch

[UpInArms]

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http://futures.fxstreet.com/Futures/news/afx/singleNew....

FOREX-Dollar hushed ahead of US durables, yen weakened

LONDON, Aug 25 (Reuters) - The dollar steadied just below fresh 2-1/2 week highs against the euro on Wednesday as investors awaited U.S. data to help them decide whether a recent recovery in expectations for U.S. rate hikes will continue.

July U.S. durable goods data at 1230 GMT, expected to show a 1 percent rise after June's 0.9 percent increase, will be a key test of upbeat dollar sentiment after Federal Reserve officials said this week the U.S. recovery appeared to be self-sustaining.

Dollar sentiment has also been cheered by the fact that U.S. oil prices have kept their distance from record highs hit on Friday, even though they rose modestly on Wednesday.

"It seems like the market has been waiting for a bounce in durable goods for a long time now," said Steven Pearson, chief currency strategist at Halifax Bank of Scotland Treasury Services in London.

"If it doesn't get it that could provoke some dollar selling, particularly as we really do need to see data back up the Fed's view that the soft spot was not only transitory but is now over."

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http://cbs.marketwatch.com/news/story.asp?guid=%7BF115A...

July durable orders rise 1.7% on aircraft
Up 0.1%, excluding transportation; first gain since March

WASHINGTON (CBS.MW) -- Orders for new U.S. civilian aircraft doubled in July, boosting orders for all durable goods by 1.7 percent, the Commerce Department said Wednesday.

Excluding the 5.6 percent gain in transportation goods, orders to U.S. factories for durables rose 0.1 percent in July after falling 0.6 percent in June. It marked the first monthly increase since March.

Orders for core capital goods increased by 0.6 percent in July after gaining 1.4 percent in June.

Economists had predicted, on average, that total orders would rise 1.2 percent in July, according to a survey conducted by CBS MarketWatch. See Economic Calendar.

In addition, June's increase in total orders was revised higher, to a 1.1 percent rate from 0.9 percent previously.

Orders are up 12.4 percent in the year to date. Read the full release.

The report indicates patches of strength and weakness in the factory sector, since total orders increased smartly in each of the past two months primarily because of the leadership of one sector: Aircraft in July and defense goods in June.

<snip>

Within the 5.6 percent jump in orders for transportation goods, orders for motor vehicles fell 5.3 percent, orders for civilian aircraft soared 100.4 percent, and orders for defense aircraft fell 38.4 percent. July's shipments of transportation goods dropped 3.9 percent.

Orders for computers and other electronics dropped 3.8 percent. Orders for computers sank 6.7 percent. Shipments of electronics increased 1.7 percent.

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Have a Great Day Marketeers!