Market Commentary and Intraday News

Dollar Down Ahead Of U.S. GDP, Durable Goods Orders & Weekly Jobless Claims Data

264 days ago

(RTTNews) - The Commerce Department is set to release its durable goods orders report at 8:30 am ET. Economists expect a 5 percent decline in durable goods orders for August. Excluding transportation, orders may have risen 0.2 percent.

The Bureau of Economic Analysis is due to release its advance estimate of second quarter GDP at 8:30 am ET. Economists expect GDP growth estimate to be retained unchanged at 1.7 percent.

Additionally, the Labor Department is due to release its customary jobless claims report for the week ended September 22nd at 8:30 AM ET. Economists expect claims to decline to 376,000 from 382,000 in the previous week.

The US dollar drifted lower against its major rivals ahead of the key data. As of 8:25 am ET, the greenback was trading at 1.6220 against the pound, 77.66 against the yen, 0.9380 against the Swiss franc and 1.2885 against the euro.

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