US durable goods orders slumped
US durable goods orders decreased 6.1% in January after falling 0.3%. The cost of total orders in January was the lowest since September 2022, although it has been quite volatile in recent months due to transportation orders. This was worse than the average forecast of a 4.9% fall.
Excluding transport, the decline in new orders was a modest 0.3%, the smallest since July 2023. The average forecast was for growth of 0.2%, but this figure is flat with just 2.2% over 2 years.
This stagnation stands in stark contrast to a tight labour market and record highs in the stock market. But it would be simplistic to see this as an early sign of recession. For example, the headline and core indices had been contracting since the last quarter of 2018, but it was only the sharp acceleration of the decline in the first lockdown that triggered a recession.
The release halted dollar weakness, adding 0.1% to the greenback and briefly taking 0.2% off the Nasdaq100, as the new report did not add to expectations of a US economic expansion.
By the FxPro Analyst Team
Silver Tests Its 200-Day Moving Average for the First Time in a Year
ECB vs BoC: Central Bank Divergence Takes Centre Stage
Oil Surges, Dollar Holds Firm as Middle East Tensions Escalate | 8th June, 2026
NFP Surprise Boosts the Dollar
Dollar rallies, stocks tumble as NFP report fuels Fed hike bets
USDX Firm Amid Strong US Data and Middle East Tensions
Will Bitcoin’s historical support hold?
