© Reuters.
Investing.com – A few days before the Fed’s expected interest rate decision early next month, economic indicators and data continue to indicate that the US economy has entered a recessionary tunnel, especially after the consumer confidence index fell yesterday.
However, the now released US durable goods data misses these expectations, as it points to a recovery in the economy.
Gold maintained its upward trend above the levels of $2,000 an ounce, while the dollar was not affected by the data just released, as it remained in the bearish range that dominated the US currency’s trading during today’s trading.
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Moments ago, monthly data was issued, as well as requests, except for the monthly aircraft, and, most of which were positive.
The monthly Core Durable Goods Orders recorded a growth of 0.3% in March, and it was expected to fall by 0.2%, while the previous reading recorded a decline of 0.3%.
The monthly durable goods orders also recorded an increase of 3.2%, after recording a decline of 1.2% in the previous reading, while expectations were for a rise of 0.7%.
Non-military durable goods orders, excluding aircraft, monthly decreased by 0.4%. Durable goods orders excluding war goods increased by 3.5% after declining by 0.8% last month.
It is noteworthy that the Durable Goods Orders Index measures the change in the total value of new purchase orders in coordination with manufacturers on a monthly basis.
These levels represent important indicators of general consumption trends in the United States, and since most of them were positive, questions are increasing about the US economy entering a recessionary tunnel or not, especially after the US Consumer Confidence Index data indicated that the economy is heading towards recession.
Gold and the dollar now
It rose 0.22% to 2009 dollars.
It rose 0.1% at $1,999 an ounce.
While it decreased by 0.5%, to record 101.11 points.
oil now
American Nymex light crude fell during these moments of trading today, Wednesday, to levels of $76.5 per barrel, by 0.7%.
On the other hand, it fell to $79.8 levels during these moments of today’s trading.
2023-04-26 12:29:00
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