U.S Durable Goods at 1.9%

Friday, 24 June 2011 04:44

U.S Durable Goods unexpectedly rose more than predicted in May to 1.9%.  According to analysts, Durable Goods were expected to fall from April's 2.7% to 1.6% in May. 

The U.S economy Gross Domestic Product grew this quarter from 1.8% to 1.9% as expected. 

The U.S Dollar saw little movement at news time.  Before the Durable Goods release, Euro/Dollar remained steady trading almost the same as before the news; currently the pair is trading at 1.4225.  Before the news, the pair was 5 pips lower.

Sterling rose against the U.S Dollar after the report about GDP and Durable Goods was released.  The pair, GBP/USD, was trading 1.5997 prior the announcement, and went up to 1.6017 a few minutes after the announcement.