Foreign Exchange Market Update

January 26, 2026

United States (U.S.) Durable Goods Orders Surge 5.3% in November

A report released by the Commerce Department on Monday showed new orders for U.S. manufactured durable goods surged in November. The Commerce Department said durable goods orders shot up by 5.3% in November after tumbling by 2.1% in October.

The increase in durable goods orders was largely driven by a surge in orders for transportation equipment, which rose by 14.7% in November after declining by 6.3% in October. Orders for non-defense aircraft and parts led the way higher, skyrocketing by 97.6% in November after plummeting by 17.8% in October.

Excluding the surge in orders for transportation equipment, durable goods orders climbed by 0.5% in November after inching up by 0.1% in October. Ex-transportation orders were expected to rise by 0.3%. The report showed notable increases in orders for electrical equipment, appliances, components, and fabricated metal products.

The Commerce Department also said orders for non-defense capital goods excluding aircraft, a key indicator of business spending, increased by 0.7% in November after rising by 0.3% in October.

Shipments in the same category, which is the source data for equipment investment in GDP, rose by 0.4% in November after climbing by 0.8% in October. 01/26/2026 - 09:50:00 (RTTNews)

Eurozone

Euro traded at 1.1887 against USD at 9:00 AM PST

German business sentiment remained unchanged in January as the improvement in the current situation was offset by the deterioration in expectations. The business climate index remained unchanged at 87.6 in January. The current situation index rose to 85.7 in January from 85.6 in December.

The German economy is starting the New Year with little momentum. Business confidence in manufacturing increased sharply in January. Companies assessed current business conditions as more positive and notably less pessimistic.

In the service sector, the business climate deteriorated. The current situation was assessed as slightly worse and became somewhat more pessimistic.

In trade, the index rose sharply. Companies rated their business situation as more favorable and became less pessimistic. This improvement was seen in both retail and wholesale trade.

In construction, the business climate improved in January. A better assessment of current business conditions drove this.01/26/2026 - 06:12:00 (RTTNews)

Spanish producer prices declined at the fastest pace in 14 months in December. Producer prices posted an annual fall of 3.0% in December after easing 2.5% in November. This was the second consecutive decrease and marked the biggest fall since October 2024.

Monthly, producer prices went up 0.4%, in contrast to the 0.5% drop in the previous month. The annual fall was driven by a sharp 10.8% decrease in energy prices. Intermediate goods prices went down 0.1%. Meanwhile, prices of capital goods and consumer goods increased by 2.0% and 1.2%. 01/26/2026 - 04:45:00 (RTTNews)

Singapore Industrial Output Growth Slows Sharply in December

Singapore's industrial production growth moderated in December. Industrial production advanced 8.3% year-on-year in December, much slower than the 18.2% surge in November. Further, this was the weakest growth since the rising trend began in September.

Excluding biomedical manufacturing, industrial production advanced 16.0% annually in December versus a 9.1% increase in the prior month. Monthly, industrial production declined 13.3% in December after falling 7.8% in November.

Among the major clusters, electronics output grew 30.8% annually in December, led by the semiconductors segment, which grew 32.4% on sustained and strong demand for AI-related products.

Transport engineering output was 19.9% higher, and the precision engineering segment expanded 3.4%. Meanwhile, biomedical manufacturing output plunged 38.8% from last year. 01/26/2026 - 02:20:00 (RTTNews)