The US Durable Goods Orders report was one of the weakest currency trigger on Wednesday, causing a modest decrease in the EUR/USD exchange rate. The Euro fell against the Greenback 7 base point, but recovered initially to move closer to the weekly high above 1.820.
The Commerce Department showed that the US durable goods rose 2.2% for the month of September, owing to higher demand for transportation equipment. The report supported an upbeat sentiment in the manufacturing industry, as it managed to start recovering after being hit by hurricanes. In addition, the proposed corporate tax cut is likely be one more catalyst providing a stronger footing for growth in the fourth quarter, as well as in the beginning of 2018.
