Foreign Exchange Market Update

January 28, 2025

United States (U.S.): Durable Goods Orders Unexpectedly Plunge 2.2% In December; Consumer Confidence Index Decreases from Upwardly Revised Level

A report by the Commerce Department unexpectedly showed a steep drop in new orders for U.S. manufactured durable goods for December amid a nosedive in orders for transportation equipment. The Commerce Department said durable goods orders plunged by 2.2% in December after tumbling by a revised 2.0% in November. Economists had expected durable goods orders to climb by 0.8% compared to the 1.2% slump reported for the previous month. However, excluding the steep drop in orders for transportation equipment, durable goods orders rose by 0.3% in December after decreasing by 0.2% in November. Ex-transportation orders were expected to increase by 0.4%. 01/28/2025 - 08:38:00 (RTTNews)

The Conference Board released a report showing its U.S. consumer confidence index decreased from a notably upwardly revised level in January. The report said the consumer confidence index slid to 104.1 in January from an upwardly revised 109.5 in December. Economists had expected the consumer confidence index to climb to 106.3 from the 104.7 reported the previous month. The Conference Board said the present situation index, based on consumers' assessment of current business and labor market conditions, tumbled to 134.3 in January from 144.0 in December. 01/28/2025 - 10:36:00 (RTTNews)