US: Durable Goods Orders surge by 11.2% in July vs. 4.3% expected
|- Durable Goods Orders in the US rose more than expected in July.
- US Dollar Index continues to push higher after the data.
Durable Goods Orders in the United States expanded by 11.2%, or $23.2 billion, on a monthly basis to $230.7 billion in July following June's increase of 7.7% (revised from 7.3%), the US Census Bureau reported on Wednesday. This reading beat the market expectation of 4.3% by a wide margin.
"Excluding transportation, new orders increased 2.4%," the publication further read. "Excluding defense, new orders increased 9.9%. Transportation equipment, also up three consecutive months, led the increase, $19.6 billion, or 35.6%, to $74.7 billion."
Market reaction
The US Dollar Index extended its daily rally on the data and was last seen gaining 0.35% on the day at 93.33.
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