US: Factory Orders expand by 1% in October vs. 0.7% expected
- Factory Orders in the US rose more than expected in October.
- US Dollar Index stays in positive territory at around 104.90.
The data published by the US Census Bureau revealed on Monday that new orders for manufactured goods, Factory Orders, increased $5.8 billion, or by 1%, in October to $556.6 billion. This print followed September's growth of 0.3% and came in better than the market expectation for an increase of 0.7%.
"New orders for manufactured durable goods in October, up seven of the last eight months, increased $3.0 billion or 1.1%to $277.4 billion, up from the previously published 1% increase," the publication further read.
Market reaction
Combined with the better-than-expected ISM Services PMI report, the data helps the US Dollar continue to outperform its rivals in the second half of the day on Monday. As of writing, the US Dollar Index was up 0.4% on the day at 104.90.
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.
