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Durable Goods Orders decreased by 0.5%

Tuesday, May 26 2015
New orders for manufactured durable goods in April decreased $1.2 billion or 0.5% to $235.5 billion, in line with market forecasts. This decrease, down two of the last three months, followed a 5.1% March increase. Excluding transportation, new orders increased 0.5%, also in line with market predictions.  Excluding defense, new orders increased 0.2%. Transportation equipment, also down two of the last three months, drove the decrease, $2.0 billion or 2.5% to $77.9 billion. 
 
Oil and mining companies are counting on a reprieve as crude prices rebound from the route that pummeled business activity, while the strong dollar continues to undermine exports of American-made goods to overseas markets. Domestic demand should keep factories churning out goods such as cars, as the labor market proves hardy.
 
After the data USD gained few points against its major rivals. Euro is currently being traded around 1.0910 level, Sterling is slightly below 1.54 handle, while Aussie is around 0.7770 area. Later today, in the US session, Durable Goods Orders, CB Consumer Confidence and New Home Sales figures are scheduled for a release.
More in this category: « CBI Realized Sales showed balance of +51% USD broadly higher after consumer confidence and home sales data »

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