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Despite Lower Inventories, Gustav Boosts Oil
Posted on August 27, 2008
So far it has been quite a good week for the US dollar when it comes to US economic figures. Wednesday s release of July US durable goods orders came out better than market consensus, jumping to 1.3%, following an unrevised 1.3% increase in June, and versus an expected increase of just 0.1%. A 28% increase in civilian aircraft orders contributed to the jump in transportation orders which saw the largest increase (3.1%) since February. Although the US dollar went through the Asian and European trading session on a weaker footing, it regained some bullish vigor post durable goods, most notably...
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