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NY Open: FX traders ignore data dump

Forex 4 minutes to read
MO
Michael O’Neill

FX Trader, Loonieviews.net

Summary:  US markets are directionally challenged on the final session before Christmas as traders fret about a possible US government shutdown.

The New York morning was chock full of data but markets were not very interested. US Durable Goods Orders for November and Q3 GDP were mildly disappointing as both were below forecasts. Durable Goods rose 0.8% (forecast 1.6%) and Q3 GDP rose 3.4% (revised down from the November estimate of 3.5%) FX traders reacted with a yawn.
chart
chart
USDX daily, source: Saxo Bank

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