Factory Orders m/m comes in at 0.9% against -0.1% consensus

Factory Orders m/m for the United States came in at 0.9%. This figure significantly exceeded the consensus expectation of -0.1%. The previous month’s figure was -0.3%. The surprise versus consensus was 1000.0%.

Following the release, the USD saw varied movements against major pairs. Fifteen minutes after the release, AUDUSD moved -4.9 pips, EURUSD moved -11 pips, GBPUSD moved -9.9 pips, and NZDUSD moved -4.8 pips. USDCAD moved +2.6 pips, USDCHF moved +11 pips, and USDJPY moved +12 pips. XAUUSD moved +36 pips. For context, EURUSD typically sees a median 1-hour move of 11 pips, USDJPY typically sees a median 1-hour move of 13 pips, and XAUUSD typically sees a median 1-hour move of 28 pips. The 15-minute move for EURUSD matched its median 1-hour move, while USDJPY’s move was close to its median. XAUUSD’s move exceeded its median 1-hour move. Other pairs showed 15-minute moves below their typical median 1-hour movements.