US Durable Goods Orders rise 0.5% in September vs. 0.3% expected

Durable Goods Orders in the US rose more than expected in September.
The US Dollar Index clings to small gains, stays below 100.00.

Eren Sengezer FXStreet

New orders for manufactured durable goods orders in the US rose 0.5%, or $1.5 billion, to $313.7 billion in September, the US Census Bureau reported on Wednesday. This reading followed the 3% increase (revised from 2.9%) recorded in August and came in better than the market expectation for an increase of 0.3%.

"Excluding transportation, new orders increased 0.6 percent. Excluding defense, new orders increased 0.1 percent. Transportation equipment, also up two consecutive months, led the increase, $0.4 billion or 0.4 percent to $110.7 billion," the press release showed.

Market reaction

The US Dollar Index edges higher following this report and was last seen rising 0.1% on the day at 99.88.

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.

AUD/USD finds some support near mid-0.7100s as USD bulls await US CPI

AUD/USD steadies above mid-0.7100s during the Asian session on Friday, stalling the previous day's heavy losses to an over one-week low. The August PPI report reaffirmed Fed rate-hike bets and boosted the US Dollar on Thursday, which weighed heavily on the currency pair. However, hawkish RBA expectations limited losses for the Aussie as USD bulls now await the release of consumer inflation figures before placing fresh bets.

USD/JPY holds steady around mid-154.00s; looks to US CPI for fresh impetus

USD/JPY preserves the previous day's recovery gains and consolidates around mid-154.00s during the Asian session on Friday as US Dollar bulls opt to wait for the release of the latest US consumer inflation figures. Meanwhile, the August US PPI report, released on Thursday, bolstered Fed rate-hike bets and acts as a tailwind for the buck. However, a more hawkish BoJ repricing might continue to underpin the Japanese Yen and cap the currency pair.

Gold hangs near one-week low, above $4,300 as focus shifts to US CPI

Gold languishes near its lowest level in over a week during the Asian session on Friday as rising Fed rate hike bets, bolstered by US PPI, underpin the US Dollar. Traders now look to the US CPI report for more cues about the Fed's policy path amid inflation risks stemming from higher energy prices due to the Middle East conflict. The outlook will drive the USD and influence the non-yielding bullion.

Ethereum holds above $2,400 as PPI data strengthens rate hike expectations

Ethereum (ETH) is down 0.7% on Thursday as the second-largest cryptocurrency looks to recover from earlier pressure following the release of stronger US inflation data. The Producer Price Index (PPI) for final demand rose 0.4% in August, matching market expectations after a revised 0.1% increase in July, according to the US Labor Department.

ECB recap: A hawkish hike despite downside growth risks

The European Central Bank (ECB) increased the Deposit Facility Rate to 2.50%, the Refinancing Rate to 2.65% and the Marginal Lending Facility to 2.90%, effective from September 16. The decision was accompanied by a clear warning that the outlook remains highly uncertain, with risks tilted to the upside for inflation and to the downside for growth.

Venezuela’s 65-billion-barrel Oil deal could reshape America’s inflation fight

The United States (US) has secured unprecedented access to part of Venezuela’s vast Oil reserves. The timing is particularly significant as the war with Iran is disrupting Middle Eastern supplies, keeping energy prices elevated and reviving concerns about inflation.