Trading the US Durable Goods Orders Report Using the EUR/USD

The U.S. dollar is likely to face increased selling pressures over the next 24 hours of trading as economists forecast demands for durable goods to contract another 2.5% in February as private-sector spending falters. The preliminary GDP reading for the fourth quarter showed that the annual rate of growth contracted the most since 1982, while personal consumption dropped 4.3% from the third quarter to mark the largest decline since 1980