Daily digest market movers: DXY sees red despite signs of economic resilience in the US
- Durable Goods Orders in the US increased by 0.7% in April after March’s figures were revised down steeply to 0.8%. April’s reading exceeded market predictions, which expected a drop of 0.8%.
- Excluding transportation, a 0.4% rise was recorded in new orders. With defense set aside, new orders stayed almost unchanged.
- Fed remains mindful of premature easing with Fed members implying that the policy rate limitation will continue for a prolonged period. Market probabilities for a rate cut in the upcoming meetings are around 50% in September and 85% in November, with a cut priced in by December.
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