Headline durable goods orders were substantially more powerful than anticipated with a 5.5% growth for May, however, the inherent growth away from the aircraft industry was unsatisfactory and this will restrict the favorable dollar effect. Together with expectations of a cut still undermining all the Euro interest rate speculation is continuing to control the markets. Volatility might be a large risk in New York on Friday with all the industry want to assault 1.20 again offset from the pressure to decrease position before the weekend.

Analysis provided by http://www.fxtoday.co.uk