Durable goods orders highlights
- Prior was -6.8%
- Ex-transportation +0.2% vs +0.2% exp
- Prior ex transport +0.6% (revised to +0.8%)
- Capital goods orders nondefense ex air +0.9% vs +0.3 exp
- Prior capital goods orders nondefense ex air +1.0% (revised to +1.1%)
- Capital goods shipments nondefense ex air +0.7% vs +0.1% expected
- Prior shipments +1.1%
More good news for the US dollar. The headline, the details and the revisions were all higher. USD/JPY is only up a handful of pips on the release but that’s understating the good news. Capital spending is a big criteria at the Fed and they will get some comfort from this.
Capital goods orders non-defense ex-air have been trending stronger in the past few months after years of disappointment.