Orders for U.S. durable goods were little changed in August and shipments of capital equipment declined for a fourth straight month, indicating lingering weakness in manufacturing. The latest reading for bookings of goods meant to last at least three years followed a 3.6 percent advance the prior month that was less than initially reported, Commerce Department data showed Wednesday in Washington. Sales of non-defense capital goods excluding aircraft, used in calculating gross domestic product, unexpectedly dropped 0.4 percent last month.
The series of declines in shipments of those goods indicates equipment investment may weigh on economic growth for a fourth straight quarter. While household demand is providing some relief for manufacturing, factory customers are still contending with high inventories relative to sales and overseas markets remain tepid.
Euro is currently being traded around 1.1220 handle, Aussie is at 0.7680 level, while Sterling is few points above 1.3020 area.
UK still likely to leave the EU with a negotiated agreement, says Number 10
Sentix Investors Confidence rose to 14.7 in August
German factory orders -4.0% seasonally adjusted on the previous month
China's July exports growth still seen holding up despite U.S. tariffs: Reuters poll
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