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US: Factory Orders surprised to the upside in November

Factory Orders in the US economy expanded by 2.6% in November from a month earlier, reported the US Census Bureau. The reading came in above prior expectations and reversed October’s 3.4% decline (revised from -3.6%).

Market reaction

The USD Index (DXY) extends its corrective decline, as investors keep digesting the recently published Nonfarm Payrolls. The steep pullback forces the index to breach the key 102.00 support.

US Treasury Secretary Janet Yellen: Current situation points to a soft landing.

According to US Treasury Secretary Yellen, she stated that the pessimism regarding the economy had been proven unwarranted.
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EUR/USD hits three-day high near 1.1000 on mixed US economic data

The EUR/USD rallied to a three-day high on Friday after the latest US jobs data announced by the US Bureau of Labor Statistics (BLS) was solid, sponsoring a dive to a new three-week low at 1.0876.
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