Highlights of the March durable goods orders report:
- Prior reading was +2.2% (revised to +2.1%)
- Capital goods orders non-defense ex-air (core orders) +2.2% vs +1.5%
- Prior core orders -1.3% (revised to -1.1%)
- Ex-transportation +2.0% vs +0.6% exp
Good numbers and good revisions boosted USD/JPY to a session high at 102.60, up 10 pips. The softer initial jobless claims number takes some of the shine off but this is the far more important data point.
Core durable goods orders
There’s perhaps the slightest uptrend in this data set but it’s hardly anything that points to an economic acceleration.
