US: Durable Goods Orders rise 1.7% in May vs. -1% expected

Durable Goods Orders in the US rose unexpectedly in May.
US Dollar Index stays in negative territory at around 102.50.

Eren Sengezer FXStreet

Durable Goods Orders in the US increased 1.7%, or $4.9 billion, in May to $288.2 billion, the US Census Bureau reported on Tuesday. This reading followed the 1.2% increase recorded in April and came in better than the market expectation for a decrease of 1%.

"Excluding transportation, new orders increased 0.6%," the publication further read. "Excluding defense, new orders increased 3.0%. Transportation equipment, also up three consecutive months, led the increase, $3.9 billion, or 3.9%, to $102.6 billion."

Market reaction

The US Dollar Index stays on the back foot despite the upbeat data and was last seen losing 0.25% on the day at 102.50.

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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