US Factory Orders decline 2.1% in July vs. -0.1% expected

• Factory Orders in the US declined sharply in July.
• US Dollar Index trades at multi-month highs above 104.50.

The data published by the US Census Bureau revealed on Tuesday that new orders for manufactured goods - Factory Orders - decreased $12.7 billion, or 2.1%, to $579.4 billion in July. This print followed the 2.3% increase recorded in June and came in worse than the market expectation for a decrease of 0.1%. 

"New orders for manufactured durable goods in July, down following four consecutive monthly increases, decreased $15.7 billion, or 5.2 percent, to $285.5 billion, unchanged from the previously published decrease," the publication further read.

Market reaction

The US Dollar preserves its strength despite the disappointing data. As of writing, the US Dollar Index was up 0.6% on the day at 104.80.