US: Durable Goods Orders fall by 0.5% in October vs. 0.2% expected growth
|- Durable Goods Orders fell by 0.5% MoM in October, but orders excluding transportation rose at a pace of 0.5% MoM.
- The DXY recently probed highs of the day.
According to the latest release by the US Census Bureau, US Durable Goods Orders fell by 0.5% MoM in October compared to market expectations for a small 0.2% rise in sales. That marked an acceleration of the 0.4% contraction in orders recorded in September. Excluding transportation, orders rose at a pace of 0.5% MoM, however, above expectations for a 0.2% MoM pace of growth.
Market Reaction
The strong core durable goods orders numbers, a much larger than anticipated drop in initial weekly jobless claims and an in line with expectations second estimate of Q3 GDP growth has helped propel the US dollar back to fresh highs of the day, with the DXY probing the 96.80 area in choppy trading conditions.
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