US: Factory Orders increase by 0.7% in August vs. 1% expected

Factory Orders in the US increased less than expected in August.
US Dollar Index stays in daily consolidation channel below 94.00.

Eren Sengezer FXStreet

New orders for manufactured goods, Factory Orders, in the US rose by $3.2 billion, or 0.7%, to $470.1 billion in August, the data published by the US Census Bureau showed on Friday. This reading followed July's increase of 6.5% (revised from 6.4%) and missed the market expectation of 1%.

"New orders for manufactured durable goods in August, up four consecutive months, increased $1.3 billion, or 0.5%, to $233.2 billion, up from the previously published 0.4% increase," the publication further read.

Market reaction

The US Dollar Index largely ignored this report and was last seen posting modest daily gains at 93.79.

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.

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