The euro concluded the first week of the year effectively where it started, with see-saw price action dominating trade. The indecision comes as no surprise given where it is currently trading. Last year’s high arriving around the 2012 low led to a fairly lengthy correction. EUR/USD will need to break above 12092 to further along its move higher. The channel dating back to mid-December keeps the near-term bullish trend structure intact. ...
New orders for U.S. manufactured goods jumped by more than expected in the month of November, according to a report released by the Commerce Department on Friday. The Commerce Department said factory orders surged up by 1.3 percent in November. more...
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For the second consecutive month, the Institute for Supply Management has released a report showing a slowdown in the pace of growth in activity in the U.S. service sector. The ISM said Friday that its non-manufacturing index dropped to 55.9 in December. more...
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