Durable goods orders remained flat in August: 0%, better than a drop expected. On the other hand, the figure for July was revised down from 4.4% to 3.6%. Core orders came out at -0.4% as predicted but once again, with a downwards revision from 1.3% to 1.1%. Excluding defense and air, we have a rise of 0.6%, which is good news, but it comes on top of a downwards revision from 1.5% to 0.8%. All in all, August is better than expected on top of a worse July.
The US dollar remains mixed as is the data but after the initial reaction, the greenback slides just a bit.
The US was expected a drop of 1.4% in durable goods orders in August, sliding after a big rise of 4.4% back in July. Core orders carried expectations for a drop of 0.4% after +1.3% last time. Core orders are eyed as they reflect investment. US economic data has been a mixed bag of late.
The US dollar was mixed into the event. Fed Chair Janet Yellen testifies at 14:00 GMT and also ECB President is facing a grilling in Berlin, in front of the German parliament.
Tomorrow we will get the final GDP report for Q2. See how to trade the GDP with EUR/USD.
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