Durable Goods Orders Report Jumps 3.4 Percent In March

For the month of March, orders for durable goods in the US jumped more than forecasted by 3.4 percent, above the previous 2.4 percent gain in the month of February. Subsequently, orders excluding transportation components advanced by 1.5 percent, contrary to the 0.4 percent decline last month. Bolstering the better than expected headline figure was a noticeable contribution by Boeing as the Chicago based company more than doubled their order log in February. Aircraft orders increased by a whopping 38 percent. However, the figure was a significantly lower release than the 102 percent increase from the previous month. Strength was additionally seen in business investment as non-defense capital goods excluding aircraft jumped 4.7 percent. Ultimately, the report bodes well for the worldÂ’s largest economy, keeping traders on the side of stable rates compared to previous speculation of a later year rate cut. Market players confirmed the notion, taking the EURUSD down by about 20 points shortly after the release.