- Durable goods orders in the United States contracted in October at a faster rate than expected.
- The DXY Dollar Index continues to fluctuate in a tight range above 103.50.
Durable goods orders in the United States fell 5.4%, or $16 billion, to $279.4 billion in October, the Census Bureau reported Wednesday. This reading followed the 4.6% increase recorded in September and was worse than the market expectation of a 3.1% contraction.
“Excluding transportation, new orders remained virtually unchanged,” the post said. “Excluding defense orders, new orders decreased 6.7%. Transportation equipment, also down in three of the last four months, drove the decline, $16 billion, or 14.8%, to $92.1 billion. Dollars.”
Market reaction
The DXY Dollar Index showed no immediate reaction to this report and is now up 0.1% on the day, to the 103.70 level.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
