Dollar falls to 2-week low against euro as durable report disappoints

The durables report was the latest in a series of downbeat numbers that help reduce investors’ confidence that the Federal Reserve will raise short-term rates sometime this year. A headline number in the durables data beat forecasts, but a key measure of business investment fell, as did so-called core orders.

The euro EURUSD, +0.44%  was up 0.5% to $1.0869 and showed a weekly gain of 0.6%, according to FactSet data.

The euro-dollar pair has “consolidated in quiet trade around the 1.0800” level in the past week, “despite ongoing concerns about Greece’s debt situation and Friday’s Eurogroup meetings,” said Matthew Weller, senior technical analyst at Forex.com, in emailed comments. “In fact, the pair actually edged higher on the week to trade up into the mid-1.0800s as of writing on Friday afternoon,” he added.

Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my