US: Durable Goods Orders decline by 4.5% in January vs -4% expected

Durable Goods Orders in the US declined sharply in January.
US Dollar Index stays in negative territory near 105.00.

Eren Sengezer FXStreet

Durable Goods Orders in the US decreased by 4.5%, or $13 billion, in January to $272.3 billion, the US Census Bureau announced on Monday. This reading followed December's increase of 4% and came in slightly weaker than the market expectation for a decrease of 4%.

"Excluding transportation, new orders increased 0.7%," the publication read. "Excluding defense, new orders decreased 5.1%. Transportation equipment, also down two of the last three months, drove the decrease, $14.2 billion or 13.3%, to $92.8 billion."

Market reaction

With the initial reaction, the US Dollar Index edged lower and was last seen losing 0.25% on the day at 105.00.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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