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26 April

By Ahmed Mamdouh

Category: Forex News

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US durable goods orders rise more than forecast in March

U.S. durable goods rose more than forecast in March, while unemployment claims fell more than estimates last week.

Durable goods orders soared 2.6 percent last month, following a revised of 3.0 percent increase. Analysts had predicted a 1.6 percent surge.

The core reading showed a stall after a 1.0 percent advance in February, compared to median estimates of 0.5 percent increase.

Another report from the U.S. showed that initial jobless claims fell 24,000 last week to 209,000, while analysts had predicted a retreat to 230,000.

Goods trade deficit narrowed to 68.0 billion in March from 75.9 billion shortfall in February, compared to forecasts of 74.8 billion gap.

As of 12:37 GMT, the dollar traded slightly lower at 90.97, after hitting a peak of 91.10, the highest since January 12.

Ahmed Mamdouh

Ahmed Mamdouh is the head of the English Fundamental Analysis at D1stp.com, with 9 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.