Euro continued to fall for a second day against the U.S. dollar today as the durable goods orders in U.S. unexpectedly fell at a very fast pace. This is the second day in a row with the bad macroeconomic statistics from United States. EUR/USD is now trading near 1.4099.
Durable goods orders declined by 2.5% in June, following 1.3% growth in May. The market analysts expected a decline from this report but only by 0.6%. Durable goods orders rate is a good indicator of the overall conditions of the U.S. industrial production sector.
Crude oil inventories unexpectedly increased last week, and increased by a rather large amount — 5.1 million barrels compared to the previous week. Meanwhile, motor gasoline inventories decreased by 2.3 million barrels. So, the gain in the oil inventories looks like a result of poor production capacity utilization.
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