US Durable Goods Orders decline 5.4% in October vs. -3.1% expected

• Durable Goods Orders in the US contracted at a faster pace than expected in October.
• US Dollar Index continue to fluctuate in a tight range above 103.50.

Durable Goods Orders in the United States declined by 5.4%, or $16 billion, to $279.4 billion in October, the Census Bureau reported on Wednesday. This reading followed the 4.6% increase recorded in September and came in worse than the market expectation for a contraction of 3.1%.

“Excluding transportation, new orders were virtually unchanged,” the press release read. “Excluding defense, new orders decreased 6.7%. Transportation equipment, also down three of the last four months, drove the decrease, $16.0 billion, or 14.8%, to $92.1 billion.”

Market reaction

The US Dollar Index showed no immediate reaction to this report and was last seen rising 0.1% on the day at 103.70.