Durable goods orders unexpectedly rise

New orders for US manufactured durable goods unexpectedly rose  to 1.9% month-over-month in June, extending gainsfrom upwardly revised 0.8% increase in May and compared to market expectations of a -0.5%. It is the third consecutive monthly increase and a sign that business spending plans remain strong so far despite higher interest rates and inflation.

Durable goods orders excluding transportation decreased 0.3% MoM in June easing from a downwardly revised 0.5% rise in May, above market forecasts of 0.2% rise. Transportation equipment, up three consecutive months, led the increase, $4.5 billion or 5.1 percent to $92.7 billion.

EURUSD saw a relatively small reaction to today’s data releases. The most popular currency pair continued to trade around 1.0150 level. Source: xStation5