US durable goods orders rose 9.9% in July vs. 4% expected

• US durable goods orders rose sharply in July.
• US dollar index clings to daily recovery gains, remains below 101.00.

US durable goods orders rose $26.1 billion, or 9.9%, to $289.6 billion in July, the US Census Bureau reported on Monday. This reading followed the 6.9% contraction (revised from -6.6%) recorded in June and came in better than market expectations for a 4% increase.

“Excluding transportation, new orders fell 0.2%. Excluding defense, new orders rose 10.4%,” the press release said. “Transportation equipment, up two of the past three months, led the increase, up $26.4 billion, or 34.8 percent, to $102.2 billion.”

Market reaction

The US dollar index is clinging to modest daily recovery gains near 101.80 following upbeat data.