US: Durable Goods Orders rise by 0.7% in June vs. 0% expected

• Durable Goods Orders in the US rose sharply in June.
• US Dollar Index stays near 107.00 ahead of FOMC policy announcements.

Durable Goods Orders in the US increased by 1.9%, or by $5 billion, on a monthly basis in June to $272.6 billion, the monthly data published by the US Census Bureau revealed on Wednesday. This reading came in much better than the market expectation for a decrease of 0.4%.

"Excluding transportation, new orders increased 0.3%," the publication further read. "Excluding defense, new orders increased 0.4%. Transportation equipment, up three consecutive months, led the increase, $4.5 billion or 5.1% to $92.7 billion."

Market reaction

The US Dollar Index showed no immediate reaction to this report and was last seen losing 0.25% on the day at 106.94.