Durable goods (-2.5%) and weekly jobless claims (+ 588K) were dismal once again, offering little to change the markets mindset that recession is here to stay for the first half of 2009 at a minimum and likely through the balance of 2009 as the base case.
EUR/JPY and USD/JPY dipped on the news but they are off their lows. Dealers note talk of 90.00 options expiries this morning which may attract price action over the next 90 minutes. USD/JPY trades at 89.81 from lows of 89.66 after the data.