US: Factory Orders increase by 0.7% in August vs. 1% expected

• Factory Orders in the US increased less than expected in August.
• US Dollar Index stays in daily consolidation channel below 94.00.

New orders for manufactured goods, Factory Orders, in the US rose by $3.2 billion, or 0.7%, to $470.1 billion in August, the data published by the US Census Bureau showed on Friday. This reading followed July’s increase of 6.5% (revised from 6.4%) and missed the market expectation of 1%. 

“New orders for manufactured durable goods in August, up four consecutive months, increased $1.3 billion, or 0.5%, to $233.2 billion, up from the previously published 0.4% increase,” the publication further read.

Market reaction

The US Dollar Index largely ignored this report and was last seen posting modest daily gains at 93.79.