Details from the February 2016 US durable goods orders data report 24 March 2016
- Prior 4.7%. Revised to 4.2%
- Ex-transport -1.0% vs -0.2% exp m/m. Prior 1.7%. Revised to 1.2%
- Ex-defence -1.9% vs 4.3% prior m/m. Revised to 3.7%.
- Cap goods orders non-def ex-air -1.8% vs -0.5% exp m/m. Prior 3.4%. Revised to 3.1%
- Cap goods shipments non-def ex-air -1.1% vs 0.3% exp m/m. Prior -0.4%. Revised to -1.3%
Not as bad as expected from the headline but worse on the cap goods orders. Softer revisions across the board too lean the report to the soft side.
Last month transport/aircraft posted big gains and a lot of that has been washed out this month. It's one of the reasons I don't like this report as it can be far too volatile. It's not a massively bad report but it does undo some of the good work from last month.
USDJPY dropped to 112.49 from just over 112.60.
US durable goods durable goods