Markets

U.S. factory orders fall for second consecutive month in May

Investing.com -

Investing.com - U.S. factory orders fell more than expected in May, causing concern over the manufacturing sector, responsible for roughly 12% of the American economy, official data showed on Wednesday.

In a report, the U.S. Census Bureau said factory orders decreased by a seasonally adjusted 0.8% in May, compared to expectations for a decline of 0.5%

Factory orders dropped 0.3% in February in a downward revision from what had been a 0.2% decrease.

Following the report, EUR/USD was trading at 1.1330 from 1.1324 ahead of the release of the data, GBP/USD was at 1.2914 from 1.2910 earlier, while USD/JPY was at 113.30 compared to 113.45 earlier.

The US dollar index, which tracks the greenback against a basket of six major rivals, was at 96.15 compared to 96.18 previously.

Meanwhile, U.S. stock markets traded lower after the open. The Dow 30 lost 53 points, or 0.24%, the S&P 500 fell 7 points, or 0.30%, while the Nasdaq Composite traded down 8 points, or 0.13%.

Elsewhere, in the commodities market, gold futures traded at $1,221.37 a troy ounce, compared to $1,219.65 ahead of the data, while crude oil traded at $45.58 a barrel from $46.09 earlier.

Investing.com offers an extensive set of professional tools for the financial markets.

Read more News on Investing.com and download the new Investing.com apps for Android and iOS! https://i-invdn-com.akamaized.net/news/manufacturing_3_M_1440051030.jpg

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.

Other Topics

ForEx