Highlights of the December US durable goods orders report:
- Prior reading was 3.5% (revised to +2.6%)
- Capital goods orders nondefense ex-air -1.3% vs +0.3% expected
- Prior capital goods orders nondefense ex-air revised to +2.6% from +4.5%
- Ex-transportation -1.6% vs +0.5% expected
- Prior ex-transportation revised to +0.1% from +1.2%
I’ll call this the Bad Father Market, the guy who says “If you want to cry, I’ll give you something to cry about”. This is a terrible report along with negative revisions and USD/JPY has quickly fallen to 102.80 from above 103.00. I’m surprised it hasn’t fallen farther as the capex story cracks.
Capital goods orders nondefense ex-air
