- Factory orders in the US fell sharply in July.
- The Dollar Index is trading at multi-month highs above 104.50.
Data released by the US Census Bureau revealed on Tuesday that new orders for manufacturing goods – Factory Orders – decreased $12.7 billion, or 2.1%, to $579.4 billion in July. This figure is after the 2.3% increase registered in June and exceeds market expectations, which expected a decrease of 0.1%.
“July new orders for manufactured durable goods, down after four straight monthly increases, decreased $15.7 billion, or 5.2%, to $285.5 billion, unchanged from the previously posted decline,” the publication also read. .
Market reaction
US dollar retains its strength despite disappointing data. As of this writing, the Dollar Index is up 0.6% on the day and stands at 104.80.
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.
