US: Durable Goods Orders jump 4.7% in June vs. 1% expected
|- Durable Goods Orders in the US rose by 4.7% in June.
- US Dollar Index rises across the board after economic reports from the US.
Durable Goods Orders in the US increased 4.7%, or $13.6 billion, in June to $302.5 billion, the US Census Bureau reported on Thursday. This reading followed the 2.0% increase recorded in May (revised from 1.8%) and came in better than the market expectation for an increase of 1%.
The report added that “excluding transportation, new orders increased 0.6 percent. Excluding defense, new orders increased 6.2 percent. Transportation equipment, also up four consecutive months, led the increase, $12.4 billion or 12.1 percent to $115.3 billion.”
Market reaction:
Along with the Durable Goods Orders report, the Q2 GDP and weekly Jobless Claims were released. The US Dollar Index rebounded, erasing daily losses, rising back above 101.00 as US yields jumped to fresh daily highs.
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