The dollar reacted with a decline to the publication of data

EUR / USD     chart  at 5 minute intervals

The dollar is approaching a session low after orders for durable goods in the US rose less-than-expected in June, rising 0.8% vs. 2.2% forecast, while the May increase was revised upward.  Short squeezing positions helps lift the euro to session highs.

The Bloomberg US dollar index was little changed after losing a gain of 0.3%.  EUR / USD rallied 0.1% to 1.1816 amid a surge in speculative volume ahead of the US data release, with expansion potential on breaking the 1.1820 pivot point.  The Swiss franc slipped to 0.9118, a weekly high against the US dollar, following the release of the data.  USD / JPY fell 0.4% to hit 109.96 after the data.  The top of the Ichimoku cloud at 109.88 is support below the 55-DMA of 109.98.

New orders for US-made manufacturing goods rose significantly in June, despite supply constraints holding back production at some factories, suggesting that business spending on equipment could remain significant beyond the second quarter.

   Durable goods orders schedule.  Source: Bloomberg

Orders for non-defense capital goods, with the exception of aircraft that are closely monitoring business spending plans, rose 0.5% last month, the Commerce Department said Tuesday.  These so-called orders for fixed assets rose 0.5% in May.  Economists polled by Reuters had forecast orders for fixed assets to rise 0.7%.