New orders for U.S.-made capital goods unexpectedly fell in January after three straight months of strong gains but did little to change views that manufacturing was recovering from a prolonged slump amid rising commodity prices.
China’s stock markets continued their decline overnight with the Shanghai SE Composite falling another 4.64% and down of 32% since June 12. Markets have begun seizing up as sellers overwhelm the system.
The US dollar is making a comeback against its European rivals and the Japanese yen so far, but the commodity dollars are showing the most strength heading into today’s US session. USDCAD fell to a 2-week low at 1.2350 on some modest strength in oil prices and AUDUSD sampled life above .