Cite Durable goods and new home salesWith a few days to go until the 3Q GDP and better data today in durable goods and new home sales, Goldman Sachs is the latest to raise their 3Q GDP forecast. They now see 2.6% vs 2.3% prior.
Despite the better data, the dollar has moved lower (at least against the USDJPY, EURUSD and GBPUSD in trading in the NY session.
Having said that,
- The USDJPY just tested the 100 hour MA at 113.52 and after a brief break below, has now rebounded a bit higher.
- The EURUSD is off it’s high at 1.1817. Key resistance comes in between 1.1822-37. The pair trades at 1.1806.
- The GBPUSD moved up to test the swing high from August at 1.3267 (see chart below) and has backed off a bit. The high reached 1.3271.