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U.S. durable goods remain unchanged in August, beating expectations

Investing.com -

Investing.com - U.S. orders for long lasting manufactured goods unexpectedly remained unchanged in August, surprising expectations for them to pull back from the prior month's largest gain in half a year, according to official data released on Wednesday.

Total durable goods orders, which include transportation items, remained unchanged last month, the Commerce Department said, compared to economists' expectations for an decline of 1.4%.

July's orders were revised down to show an increase of 3.6% from a previously reported 4.4% gain.

Durable goods are typically bulky or heavy manufactured products designed to last at least three years.

Core durable goods orders, which exclude volatile transportation items, dropped 0.4% last month, in line with forecasts.

July's core durable goods orders showed a 1.1% advance, revised down from the initial 1.3% increase.

Immediately after the report, EUR/USD was trading at 1.1230 from around 1.1228 ahead of the publication; GBP/USD was unchanged at 1.3014; while USD/JPY was at 100.57 from 100.63 earlier.

The US dollar index, which tracks the greenback against a basket of six major rivals, was at 95.34 compared to 95.36 ahead of the report.

Meanwhile, U.S. stock futures pointed to a flat open. The Dow futures edged forward 13 points, or 0.07%, the S&P 500 futures tacked on 1 point, or 0.05%, while the Nasdaq 100 futures advanced 5 points, or 0.10%.

Elsewhere, in the commodities market, gold futures traded at $1,329.25 a troy ounce, compared to $1,328.95 ahead of the data, while crude oil traded at $45.18 a barrel from $45.22 earlier.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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