U.S. durable goods orders rise 3.4% in April, core orders rise 0.4%
Investing.com
Published May 26, 2016 08:32AM ET
U.S. durable goods orders jump more than expected, core orders beat by slight margin
Investing.com - U.S. orders for long lasting manufactured goods jumped more than forecast in April, while core orders narrowly beat consensus, according to official data released on Thursday.
Total durable goods orders, which include transportation items, rose 3.4% last month, the Commerce Department said, compared to economists' expectations for an increase of 0.5%.
March's orders were revised down to show an increase of 1.9% from a previously reported 1.3% advance.
Durable goods are typically bulky or heavy manufactured products designed to last at least three years.
Core durable goods orders, which exclude volatile transportation items, rose 0.4% last month, compared to forecasts for a 0.3% gain.
March's core durable goods orders had shown a 0.1% increase, revised from the initial 0.2% decline.
Immediately after the release which came simultaneously with the weekly jobless claims, EUR/USD was trading at 1.1173 from around 1.1172 ahead of the publication; GBP/USD was at 1.4702 from 1.4701 earlier; while USD/JPY was at 110.02 from 110.09 earlier.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 95.25, compared to 95.26 ahead of the report.
Meanwhile, U.S. stock futures pointed to a slightly higher open. The Dow futures gained 27 points, or 0.15%, the S&P 500 futures rose 2 points, or 0.08%, while the Nasdaq 100 futures advanced 5 points, or 0.11%.
Elsewhere, in the commodities market, gold futures traded at $1,225.00 a troy ounce, compared to $1,226.30 ahead of the data, while crude oil traded at $50.02 a barrel from $50.11 earlier.
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Written By: Investing.com
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