US Durable Goods Orders rise 9.9% in July vs. 4% expected

• Durable Goods Orders in the US rose sharply in July.
• US Dollar Index clings to daily recovery gains, stays below 101.00.

Durable Goods Orders in the US increased $26.1 billion, or 9.9%, to $289.6 billion in July, the US Census Bureau reported on Monday. This reading followed the 6.9% contraction (revised from -6.6%) recorded in June and came in better than the market expectation for an increase of 4%.

“Excluding transportation, new orders decreased 0.2%. Excluding defense, new orders increased 10.4%,” the press release read. “Transportation equipment, up two of the last three months, drove the increase, $26.4 billion or 34.8% to $102.2 billion.”

Market reaction

The US Dollar Index clings to modest daily recover gains near 101.80 following the upbeat data.