Headline largely influenced by aircraft orders. Other measures not so badThe Cap Goods orders nondefense ex air was up 0.4% (as expected) and above the 0.0% change last month the shipments of the same were up 1.0% vs 0.2% estimate and a revised 0.6% gain last month. Those measures are a broad measure of business spending. So despite the -6.8% decline, the number is not so bad.
The USDJPY moved to new London/NY highs by a pip or so at 109.753. The Asian high at 109.766 remains the high for the day. The high for the week peaked at 109.819. The 50% of the move down from the high last week is also in the area at 109.77. The 100 bar MA on the 4-hour comes in at 109.837. ON the downside, the price has been trading above and below the 200 hour MA at 109.61. The last two hourly bars have been able to stay above that MA line. That is a little more bullish for the pair.
The EURUSD has moved lower but has bounced of that low too. Looking at the 5-minute chart below, the pair stall at the 100 and 200 bar MA on the 5- minute chart (at the low). That was also near the closing level from yesterday at 1.1799. The 50% of the day’s trading range is also at 1.1800. So there is a bunch of stuff in the 1.1798-1.1800 level on an intraday perspective and that is where the dip stalled after the release.