Orders for durable goods from the United States exceed expectations (1.8 percent VS 0.7 percent )
Orders for durable goods in the United States increased by 1.8%, above expectations of just 0.7%. The transportation sector accounted for the bulk of the 1.8% overall rise.. it was observed most of the increase.
Purchasing requests for big-ticket items in the US
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The figure follows last week’s Markit Manufacturing PMI data, which fell short of forecasts but still appears strong at 60.5 points. When the reading is over 50, the manufacturing sector is expanding.
Durable goods orders: an indication of a slowing of inflation?
The data on durable goods in the United States is still over zero, but it is considerably below the 3.5% level recorded in May — a period when inflation statistics climbed steadily higher. A little drop in inflationary pressures has occurred since then, as the Fed continues to promote the notion that price pressures are ‘transitory,’ meaning they are not expected to last for an extended length of time
Figures for Inflation in the United States
us monetary revaluation
The year-on-year change in the consumer price index was somewhat lower in August (-5.3%) than in June and July (-5.4%). Consumers of long-lasting items are more inclined to buy now if they expect inflation to rise, as it makes more sense to buy now rather than pay more later. As a result, the data’s unexpectedness may indicate that consumers believe inflation will continue high for some time.
Richard Snow, TradingView, created a US DOLLAR BASKET REACTION TO THE DURABLE GOODS ORDERS PRINT DXY Chart.
Prior to the release of the data, the US Dollar Index (DXY) was trading higher, but the initial reaction saw a small retreat from the daily trend. So far, DXY has been positive throughout the day.