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US durable goods orders fall 2% in November

US durable goods orders fall in November

U.S. durable goods unexpectedly dropped in November, amid tranquility in markets as investors and traders prepare for the year-end holidays.

Durable goods orders slumped 2.0 percent last month, following a revised of 0.5 percent increase. Analysts had predicted a 0.2 percent surge.

The core reading showed no change from October, compared to both revised prior and expected readings of 0.5 percent and 1.5 percent rise respectively.

As of 13:35 GMT, the dollar index resumed its advance for a fifth straight session at 97.35, the highest level since December 9.

Markets took a boost at the beginning of the week as China said it is planning to lower import tariffs on 850 goods from January 1st, while President Trump said over the weekend “the trade deal and we will be signing it very shortly.”

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