Dollar Crushed After Data Disappoints

The US dollar is getting crushed in early trade on Tuesday morning.

The dollar is falling against major currencies including the euro, the Japanese yen, and the British pound.

The drop in the dollar followed a disappointing report on durable goods orders that showed orders fell 1.3% month-over-month in September, missing expectations for orders to rise 0.5%.

September’s report from the Census showed that nondefense new orders for capital goods in September fell 5.4%, while defence new orders for capital goods rose 7.4%.

We’re also expecting housing data from the Case-Shiller home price index at 9 a.m. ET, as well as consumer confidence data from the Conference Board and manufacturing data from the Richmond Fed at 10 a.m. ET.

Here is a chart of the dollar’s fall against the yen.

And charts of the euro and pound rising against the dollar.

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