Core Durable Goods Orders comes in at 0.4% against 1% consensus

Core Durable Goods Orders m/m for August, released today at 12:31 UTC, came in at 0.4%. This figure was significantly below the consensus expectation of 1%. The previous month’s reading was 0.6%. The actual print represented a -60.0% surprise compared to the consensus forecast.

The US Dollar showed a reaction across major pairs in the 15 minutes following the release. AUDUSD declined -7.2 pips, which is comparable to its median 1-hour move of 6 pips after past releases. EURUSD moved -9.1 pips, close to its median 1-hour move of 10 pips. GBPUSD saw a larger move, dropping -16 pips, exceeding its median 1-hour move of 13 pips. NZDUSD was down -9.9 pips, also exceeding its median 1-hour move of 8 pips. USDCAD gained +6.6 pips, a move smaller than its median 1-hour move of 11 pips. USDCHF rose +8.5 pips, close to its median 1-hour move of 9 pips. USDJPY increased by +17 pips, exceeding its median 1-hour move of 11 pips. XAUUSD declined by -64 pips, a significant move compared to its median 1-hour move of 22 pips.