US: Factory Orders contract by 0.6% in April vs. -0.2% expected

• Factory Orders in US declined at a stronger pace than expected in April.
• US Dollar Index continues to push lower toward 90.00.

New orders for manufactured goods, Factory Orders, in the US declined by $2.9 billion, or 0.6%, to $485.2 billion in April, the data published by the US Census Bureau showed on Friday. This reading followed March's increase of 1.4% and missed the market expectation for a decrease of 0.2%.

"New orders for manufactured durable goods in April, down following eleven consecutive monthly increases, decreased $3.2 billion, or 1.3%, to $246.3 billion, unchanged from the previously published decrease," the publication further read.

Market reaction

The US Dollar Index remains under bearish pressure after this report and was last seen losing 0.45% on the day at 90.10.