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Durable goods orders jump 4.4% – better than expected

Some good economic data from the US: durable goods orders are up 4.4% against 3.3% expected. Core orders provide an even more welcome surprise: 1.5% against 0.5% predicted. The measure that excludes defense and air is up 1.6% against 0.2% expected. Jobless claims are down to 261K, within expectations.

The US dollar is slightly stronger in the immediate aftermath but isn’t going anywhere fast. The figure will feed into Q3 growth expectations, which are already strong. We will get an update on Q2 (first revision) tomorrow.

See how to trade the revised GDP with USD/JPY.

The United States was expected to report a rebound in durable goods orders: a rise of 3.3% in the headline figure after a plunge of 3.9% in June. More importantly, core orders carried expectations for a rise of 0.5%, after a slide of 0.4% last time. Core orders reflect investment, something the Fed, with its long-term objectives, eyes. At the same time, the weekly jobless claims report is published as well. It is expected to show a rise from 262K to 265K this time.

The US dollar was mixed ahead of the release: it was sliding against the euro while gaining against the pound and remaining fairly balanced against the yen.

Fed Chair Janet Yellen and other central bankers will convene this weekend in Jackson Hole and expectations are high.

Read:  Jackson Hole , the Fed’s September decision, and the dollar


Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.