The figures come out better than expected: headline orders came out at 1.7% instead of 1% expected. More importantly, core orders came out at 0.2% as expected, but with an upward revision for the previous month.
Another measure, excluding defense and air orders, is up 0.9%, triple the early expectations for 0.3%. The core-core figure implies a significant momentum for growth now and in the future. These are figures for August 2017. Things might look worse in September due to the hurricanes, but so far, the third quarter is not too shabby.
The dollar extends its gains. Here are 3 reasons and updates on 5 currencies regarding this dollar rally.
Later today, Fed Governor Lael Brainard will be speaking at 18:00 in a conference. She is considered a dove but supported rate hikes.
Here is the move on dollar/yen. The pair has already topped 113. The move is mimicked in other currency pairs.
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