The dollar held firm yesterday despite poor Durable Goods Orders. New orders dropped 2% from a month earlier, missing an expected 1.5% increase. Demand for transportation equipment led the fall, while declines were also seen in orders for machinery and primary metals.
New Home Sales figures were also released yesterday, showing that the sales of new, single-family houses rose 1.3% from the previous month, easily beating market expectations of a 0.3% fall, as low mortgage rates continued to support the housing market.
Following the impeachment of Donald Trump last week, it has been revealed that the White House sought to freeze aid to Ukraine just 91 minutes after President Trump spoke to President Volodymyr Zelensky by phone in July. A newly released email shows that a senior White House official contacted senior defence officials about withholding Ukraine’s aid just over an hour-and-a-half after Mr Trump ended a call with President Zelensky.
President Trump has also, once again, said that he is very close to signing a phase one trade deal with China. However, there is still no formal date or details of the agreement.
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