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US durable goods unexpectedly advance in February

US durable goods unexpectedly advance in February

U.S. durable goods orders showed an unexpexcted rise in February on strong demand for autos, yet analysts predict new order to tumble in the coming period amid restriction due to the Covid-19 outbreak.

Durable goods orders rose 1.2 percent last month, the biggest soar since last summer, following a previous of 0.2 percent decrease in January. Analysts had predicted a 1.0 percent plunge.  

The core reading, however, showed a 0.6 percent fall in February, compared to both revised prior and expected readings of 0.4 percent and -0.4 percent.

As of 12:50 GMT, the dollar managed to recuperate some of its earlier losses to rebound to 101.59 after hitting a bottom of 101.21.

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