US: Durable Goods Orders rose 1.2% in February vs. -0.8% expected
- US Durable Goods Orders rose unexpectedly in February.
- US Dollar Index posts modest daily losses near 101.50.
Durable Goods Orders in February increased by 1.2%, or $2.9 billion, to $249.4 billion, the US Census Bureau announced in its advanced report on Wednesday. This reading came in much better than the market expectation for a decline of 0.8%. Additionally, January's reading got revised up to -0.1% from -0.2%.
"Excluding transportation, new orders decreased 0.6%, the publication further read. "Excluding defense, new orders increased 0.1%. Transportation equipment, up two of the last three months, drove the increase, $3.8 billion or 4.6% to $87.0 billion."
Market reaction
The US Dollar Index ignored these data and continues to stay relatively calm near the 101.50 handle ahead Wall Street's opening bell.
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.
