Earlier today official data showed that Durable Goods Orders in United States recorded a positive change during April, showing improvement in countrys production sector, which had been the slowing factor for economic recovery. Durable Goods Orders increased by 3.3% during April on monthly basis to 226 billion USD, while estimates showed a 1.3% increase.
Data revealed that costs rose almost all along the line, as this was at highest rate in aircraft orders, which rose by 53.3%.
Durable Goods Orders ex Transportation increased by 1.3% during April, also exceeding forecasts for 0.5% rise and recovering from the negative change during the previous period. Durable goods have considerable value and usually are used at least 3 years. Consumers and business entities purchase such goods, when they have confidence in economic situation in the country.
Durable Goods Orders ex Defense registered an increase by 2.1% during April, above forecasts for barely 0.2% rise. Durable Goods Orders dropped by 5.9% during March, showing a slow down in US production activity back then.
After the release of these indicators, the euro edged lower against the US dollar, as EUR/USD pair fell to 1.2904 during late European trade, which was the lowest value for Friday session. EUR/USD jumped off and consolidated at 1.2922 afterwards.
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