Current US Factory Orders -0.4% vs Forecast 0.3%; Gold Rises

The United States published its factory orders data at 10:00 PM WIB, a monthly economic report that measures the change in the total value of new orders for manufactured goods produced in the United States.

Tonight, the factory orders data came in at -0.4%, which is below the forecast by trading central of 0.3% and down from the previous period of 0.5%.

Advertisements

Regulated

FBS

This company is verified and recommended for traders.

FBS: Cyprus 16 years MT4/MT5 Full Licence
Recommended

Regulated

OctaFX

OctaFX: Cyprus 14 years MT4/MT5 Full Licence
Recommended

Regulated

FXCM

This company is verified and recommended for traders.

FXCM: Australia 26 years MT4/MT5 Full Licence
Recommended

Regulated

MIFX MONEX

MIFX MONEX: Indonesia 25 years MT4/MT5 Full Licence
Recommended

The released data falling short of expectations indicates a decline in demand within the manufacturing sector. This situation could raise concerns regarding a potential slowdown in the US economy.

As a result, this has weakened the appeal of the US Dollar. Investors might interpret this as a sign for the Federal Reserve (The Fed) to maintain a more accommodative monetary policy.

Following the release of this data, gold surged to $2,635. Additionally, major currency pairs like GBPUSD and EURUSD also strengthened in response to the data.