US: Factory Orders rise by 1.1% in December vs. 0.7% expected

• Factory Orders in US rose more than expected in December.
• US Dollar Index edges higher toward 91.50 in American trading hours.

New orders for manufactured goods, Factory Orders, in the US rose by $5.2 billion, or 1.1%, to $493.5 billion in December, the data published by the US Census Bureau showed on Wednesday. This reading followed November's increase of 1.3% (revised from 1%) and came in better than the market expectation of 0.7%.

"New orders for manufactured durable goods in December, up eight consecutive months, increased $1.2 billion, or 0.5%, to $246.4 billion, up from the previously published 0.2% increase," the publication further read.

Market reaction

The US Dollar Index showed no immediate reaction to this report and was last seen gaining 0.3% on a daily basis at 91.44.