The US dollar falls for the second day in a row ahead of durable goods orders

The US dollar extended the decline during the European market on Thursday, extending losses for the second consecutive day, due to correction and profit taking, after rising in earlier trading yesterday to the highest level in two months, and the US economy later in the day is waiting many important data for industry data represented in durable goods orders and housing and the labor market sector.

By the time 11:22 GMT, the dollar index is trading around the level of 95.20 points from the opening level of 95.38 points, and recorded the highest level of 95.42 points and 95.10 points as the lowest level.

Index closed trading yesterday down by 0.2 percent, within the corrections and profit taking after recording earlier in the trading, the highest level in two months 95.65 points, in addition to the negative statement showed an unexpected slowdown of the services sector during May, according to government data released yesterday in Washington.

And the US economy is waiting today many important data for industry and housing and labor market sectors , and in case of a positive data is expected to reinforce stakes of the Federal Reserve raising interest rates in next June, and thus the US dollar will turn to rise again against most currencies.

From industry sector, durable goods orders will be released, and is expected to rise 0.3% in April from 0.8% rise in March, and excluding transportation items is expected to rise 0.3% after it reported a drop of 0.2% the previous month.

And about labor market; weekly unemployment claims will be released, and the expected 275 thousand for the week ending May 21 from 278 thousand the previous week, and the housing sector will release the pending home sales is expected to rise 0.6% in April from 1.4% rise in March.