US durable goods orders crumble in October

October 2018 US durable goods report 21 November 2018

Durable goods orders -4.4% vs -2.5% exp m/m Prior 0.7%. Revised to -0.1%
Ex-transport 0.1% vs 0.4% exp m/m. Prior 0.0%. Revised to -0.6%
Ex-defense -1.2% vs -0.7% prior m/m. Revised to -1.4%
Cap goods orders Non-def ex-air 0.0% vs 0.2% exp m/m. Prior -0.1%. Revised to -0.5%

Bad number, bad revisions.

Another big swing in aircraft in both def and non-def (-21.4% & -59.3% resp) but there was also a big loss for transport equipment -12.2%. Not all bad news though as there were gains in computer equipment and related goods, as well as Electrical appliances. That’s tilted towards the consumer sector, so a positive view.

USDJPY down to 112.92.