Forex News – U.S. durable goods orders higher than expected

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U.S. durable goods data released today show that new orders for long-lasting U.S. manufactured goods rose more than expected in July, lifted mainly by strong demand for aircraft and motor vehicles which made up for a fall in orders for business equipment.

The U.S. Commerce Department reported that durable goods orders jumped by 4 percent after a revised 1.3 percent drop in June, which was previously reported as a 1.9 percent fall. Expectations were for orders to rise by only 2 percent, well below the actual results today.

A breakdown of the data shows that a 14.6 percent jump in bookings for transportation equipment contributed to the rise in the final data.

Durable goods data are bookings for goods meant to last at least three years.

Positive U.S. economic data boost risk appetite and boost risk currencies, so the dollar falls against them, such as the euro, but rises against safe havens like the Swiss franc. EURUSD jumped within a minute of the data to 1.4477 from 1.4448. USDCHF rose to 0.7910 from 0.7897 a minute after the news at 10:30 GMT.