US: Durable Goods Orders rise 1.7% in May vs. -1% expected

• Durable Goods Orders in the US rose unexpectedly in May.
• US Dollar Index stays in negative territory at around 102.50.

Durable Goods Orders in the US increased 1.7%, or $4.9 billion, in May to $288.2 billion, the US Census Bureau reported on Tuesday. This reading followed the 1.2% increase recorded in April and came in better than the market expectation for a decrease of 1%.

"Excluding transportation, new orders increased 0.6%," the publication further read. "Excluding defense, new orders increased 3.0%. Transportation equipment, also up three consecutive months, led the increase, $3.9 billion, or 3.9%, to $102.6 billion."

Market reaction

The US Dollar Index stays on the back foot despite the upbeat data and was last seen losing 0.25% on the day at 102.50.