Factory Orders surprised to the upside in November

Factory Orders in the US economy expanded by 2.6% in November from a month earlier, reported the US Census Bureau. The reading came in above prior expectations and reversed October’s 3.4% decline (revised from -3.6%).

Market reaction

The USD Index (DXY) extends its corrective decline, as investors keep digesting the recently published Nonfarm Payrolls. The steep pullback forces the index to breach the key 102.00 support.