US Durable Goods Orders rise 9.9% in July vs. 4% expected

Durable Goods Orders in the US rose sharply in July.
US Dollar Index clings to daily recovery gains, stays below 101.00.

Eren Sengezer FXStreet

Durable Goods Orders in the US increased $26.1 billion, or 9.9%, to $289.6 billion in July, the US Census Bureau reported on Monday. This reading followed the 6.9% contraction (revised from -6.6%) recorded in June and came in better than the market expectation for an increase of 4%.

"Excluding transportation, new orders decreased 0.2%. Excluding defense, new orders increased 10.4%," the press release read. "Transportation equipment, up two of the last three months, drove the increase, $26.4 billion or 34.8% to $102.2 billion."

Market reaction

The US Dollar Index clings to modest daily recover gains near 101.80 following the upbeat data.

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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