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US durable goods orders worse than forecast In March

US durable goods orders worse than forecast In March

US durable goods orders for March released on Friday witnessed a decline worse than expected, where the US dollar snapped its earlier gains but still on track for a weekly advance.

The durable goods orders index for March tumbled 14.4 percent, compared to expectations that indicated a decline of 12 percent, and the previous reading was revised to show a rise of 1.1 percent from a preliminary of 1.2 percent.

The core durable goods orders signaled a 0.2 percent decline, coming below expectations of a 6.1% fall, while the previous reading was 0.6 percent down.

The U.S. dollar fell after negative data after rising during the beginning of trading on Friday, although it is heading for the best weekly gain this month.

As of 12:59 GMT, the dollar index, which measures the performance of six major currencies against the US dollar, slumped by 0.15 percent to trade at 100.39.

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