US Durable Goods Orders rise 16.4% in May vs. 8.5% expected

• Durable Goods Orders in the US rose more than expected in May.
• The US Dollar Index stays in negative territory below 97.50.

Durable Goods Orders in the United States (US) rose by 16.4%, or $48.3 billion, in May to $343.6 billion, the US Census Bureau reported on Thursday. This reading followed a 6.6% decrease (revised from -6.3%) reported in April and came in better than the market expectation for an increase of 8.5%.

“Excluding transportation, new orders increased 0.5%,” the press release read. “Excluding defense, new orders increased 15.5%. Transportation equipment, also up five of the last six months, led the increase, $47.4 billion or 48.3%, to $145.4 billion.”

Market reaction

The US Dollar (USD) Index recovered slightly from session lows following this report and was last seen losing 0.35% on the day at 97.35.