US Durable Goods Orders August 26, 2014
Binary Options Strategy | Aug 26, 2014 02:11AM ET
The Tuesday session starts out with absolutely nothing going on in Asia as far as economic announcements are concerned, and as a result we feel that the US session will be the one to pay the most attention to. That being said, the US Durable Goods Orders number from the month of July is anticipated to be 7.1%, and a good number could push the stock markets higher. Most especially interesting is going to be the S&P 500, which tested the 2000 level during the day on Monday. If we can get a good number, it’s very likely that we will break out above the 2000 handle.
Don’t forget the USD/CAD pair as well. It has formed a hammer up against the 1.10 resistance barrier, and as a result it’s very likely that a break out would ensue if we get something above the anticipated 7.1%.
The US Housing Price Index number comes out for the month of June, anticipated to come in at 0.3%. While this is not a massive announcement, it could also have an effect on the stock markets. What will be especially interesting is if the Durable Goods Orders number comes out strong, as well as this one. Consider that a “double whammy” for the US stock indices in general, and probably the US dollar as well.
US Consumer Confidence also comes out, which of course can move the markets also. The anticipated 88.5 reading is relatively high, and therefore needs to be met in order for the afternoon stock trading in the United States to continue going strong if we get positive news in the morning.
All that being said, the EUR/USD pair will more than likely offer trading opportunities as well, as the pair seems like it’s ready to continue going lower. We believe that with a few good announcements, we could have a strong day for US assets on the whole. Obviously, this can work in the opposite direction as well, so pay attention to those assets as we suspect that other markets will probably lag we see happening in New York.
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.