US: Durable goods orders declined 1.3% in May vs. +0.2% expected, DXY clings to small gains

Durable goods orders decline on a monthly basis in May.
Trade deficit widens in May, US Dollar Index preserves modest daily gains.

Eren Sengezer FXStreet

The data published by the U.S. Census Bureau today showed that durable goods orders declined by 1.3% on a monthly basis in May to miss the market expectation for an increase of 0.2%.

Other data from the U.S. revealed that the doos trade deficit widened to $74.55 billion from $70.92 billion in April and wholesale inventories rose 0.4% in April following March's 0.9% reading.

With the initial market reaction to the mixed data, the US Dollar Index continues to float in the positive territory above the 96.20 mark.

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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