The data out on weekly jobless claims and Oct durable goods proved extremely volatile with a good news/bad news mix ultimately weighing on the USD. Weekly claims jumped 54K to 488K from 434K the previous week (revised from 427k). This is bad news for the labor market and the surge in continuing claims (up 301K) to an 18 year high, emphasized the difficulty in the unemployed finding new jobs. Meanwhile, durable goods skyrocketed 12.8% (1.8% expected) more than making up for the downwardly revised -9.2% drop in Sep (was -8.5%). But the surge in durable goods orders looks to be all war related with aircraft jumping 233%, defense 206% and communications 58%. EUR/USD rallied to .8919 after the data, and currently trades around .8910. The next level above stops over .8920, is .8970.