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U.S. Core Durable Goods Orders Plunge Unexpectedly

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Forex Pros – U.S. core durable goods orders plunged unexpectedly in October, falling the most since March 2009, official data showed on Wednesday.

In a report, the U.S. Census Bureau said core durable goods orders fell by a seasonally adjusted 2.7% in October, after rising by 1.3% in September, whose figure was revised up from a decline of 0.8%.

Analysts had expected core durable goods orders to rise by 0.4% in October.

The report also showed that durable goods orders, which include transportation items, tumbled more-than-expected in October, posting its biggest fall since January 2009.

Durable goods orders fell by a seasonally adjusted 3.3% in October, after rising by 5.0% in September, whose figure was revised up from 3.3%.

Analysts had expected durable goods orders to decline by 0.3% in October.

Following the release of the data, the U.S. dollar was up against the euro, with EUR/USD falling 0.10% to hit 1.3253.

Meanwhile, the outlook for U.S. equity markets was upbeat: Dow Jones Industrial Average futures indicated a gain of 0.53%, S&P 500 futures pointed to a rise of 0.61% and Nasdaq 100 futures were up 0.70%.

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