US: Durable Goods Orders rise by 3.2% in March vs. 0.8% expected

• Durable Goods Orders in the US rose at a much stronger pace than expected in March.
• US Dollar Index stays deep in negative territory below 101.50.

Durable Goods Orders in the US increased by 3.2%, or $8.6 billion, in March to $276.4 billion, the US Census Bureau announced on Wednesday. This reading followed February's contraction of 1.2% (revised from -1%) and surpassed the market expectation for an increase of 0.8% by a wide margin.

"Excluding transportation, new orders increased 0.3%," the publication further read. "Excluding defense, new orders increased 3.5%. Transportation equipment, also up following two consecutive monthly decreases, led the increase, $8.1 billion or 9.1% to $97.4 billion."

Market reaction

The US Dollar stays under pressure despite the upbeat data and the US Dollar Index was last seen losing 0.5% on the day at 101.35.