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US durable goods orders rise less than forecast

US durable goods orders rise less than forecast

U.S. durable goods orders rose less than forecast in December, data released by the Commerce Department on Wednesday showed.

Durable goods orders advanced 0.2 percent last month, following a revised of 1.0 percent increase in November. Analysts had predicted a 1.0 percent soar.

The core reading showed a 0.7 percent rise, compared to both revised prior and expected readings of 0.4 percent and 0.5 percent respectively.

As of 13:22 GMT, the dollar index widened its gains after the report to trade at 90.55, where it is currently on track to record its best daily advance in nearly two weeks.

The green currency has benefited this week from the differences among U.S. lawmakers regarding the size and time of Biden’s $1.9 trillion stimulus. 

Later in the day, the Fed is highly anticipated to keep its dovish stance concerning bond purchases to help the economy recover from the Covid-19 damages. 

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