US durable goods orders added 0.4% in April after rising 0.6% a month earlier, slightly weaker than the 0.6% increase expected. Excluding transportation, orders rose by 0.3% in April, following a 1.1% increase a month earlier. This series shows steady growth, easing fears of an impending US recession.
Companies and people tend to avoid making expensive purchases in anticipation of tough times ahead, so durable goods orders are considered one of the leading indicators of the economic cycle.
This indicator points to the resilience of business demand, which is outperforming inflation with a 12.1% y/y against 8.3% y/y inflation. Such data is supportive of the Dollar reducing speculation that the Fed will cause a recession soon with its rate hikes.
The FxPro Analyst Team
- GBPUSD broke support zone - Likely to fall to support level 1.2465 GBPUSD currency…
- USDCHF broke resistance zone - Likely to rise to resistance level 0.9000 USDCHF currency…
The decline in EURUSD was driven by weak PMI figures, with France and Germany both…
Gold has reached record high in euro above 2600, and growing fast in dollar terms…
The crypto market is booming as the anticipation of regulatory changes grows. Bitcoin nears $100K,…
- GBPCAD broke support zone - Likely to fall to support level 1.7500 GBPCAD currency…
This website uses cookies