8:30am (NY Time) US Durable Goods Orders Forecast 0.1% Previous 1.1%
ACTION: USD/JPY BUY 1.9% SELL -1.7%
Durable Goods calculates purchase orders of goods that have a life-expectancy of 3 years or more, instead of goods that are being used up all at once. Examples of durable goods are cars, appliances, business equipments, etc… Core Durable goods is a derivative of Durable goods that excludes Transportation element, which is a better indication of the nation’s economic status, since transportation elements fluctuate from months to months. Forex traders watch this report closely because a strong number shows a healthy outcome for the economy.
