US: Durable goods orders increased by 2.7% vs 0.8% expected
|The data published by the U.S. Census Bureau revealed that durable goods orders in March expanded by 2.7% on a monthly basis to surpass the market expectation for an increase of 0.8%. The market reaction to this reading lifted the US Dollar Index, which tracks the greenback against a basket of six major currencies, to its highest level since May 16 of 2017. At the moment, the index is up 0.27% on the day at 98.32.
Key takeaways from the press release
- Excluding transportation, new orders increased 0.4 percent.
- Excluding defense, new orders increased 2.3 percent.
- Transportation equipment, also up four of the last five months, led the increase, $6.1 billion or 7.0 percent to $93.8 billion.
- Shipments of manufactured durable goods in March, up four of the last five months, increased $0.9 billion or 0.3 percent to $259.6 billion.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.