New orders for US durable goods rose only 0.3% in June, while Wall Street had expected growth of approximately 2.5%, according to the Census Bureau’s advanced report released on July 27. June orders totaled $334.8 billion, following a revised decline of 4.5% in May. Excluding transportation, core orders increased only 0.6% versus expectations of 0.8%. Only the computers and electronic products sector boosted the figures with a 3.1% rise, adding approximately $0.9 billion. This weakness in manufacturing could prompt the Federal Reserve to lower interest rates, a scenario cryptocurrency markets are closely monitoring.
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