US: Factory Orders decline by 0.7% in February vs. -0.5% expected
- Factory Orders in the US declined more than expected in February.
- US Dollar Index stays in negative territory below 102.00.
The data published by the US Census Bureau revealed on Tuesday that new orders for manufactured goods, Factory Orders, decreased $3.9 billion, or by 0.7%, in February to $536.4 billion. This print followed January's decline of 2.1% and came in worse than the market expectation for a decrease of 0.5%.
"New orders for manufactured durable goods in February, down three of the last four months, decreased $2.7 billion or 1.0 percent to $268.4 billion, unchanged from the previously published decrease," the publication further read.
Market reaction
The US Dollar stays under selling pressure after this data and the US Dollar Index was last seen losing 0.2% on the day at 101.82.
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.
