Dollar Index Edges Higher on Strong US Durable Goods Data

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The dollar index rose 0.06% on Monday, supported by stronger-than-expected US capital goods orders that signaled economic strength. New orders for nondefense capital goods excluding aircraft rose 0.9% month-over-month in June, beating the 0.7% forecast. Safe-haven demand also lent support after President Trump raised the possibility of intensified action against Iran and Houthi militants claimed strikes on Saudi Aramco-linked facilities. Gains were capped by easing Middle East tensions, a 7% plunge in WTI crude that lowered inflation expectations, and lower Treasury yields. The euro slipped 0.02% against the dollar, though losses were limited by a rise in the German IFO business confidence index to a five-month high of 86.6 and hawkish comments from ECB Governing Council member Peter Kazimir, who favors at least one more rate hike. The yen recovered further from last Thursday's 39-year low, with USD/JPY down 0.05%, aided by lower T-note yields and the drop in oil prices, though weak Japanese data and a slim 4% chance of a BOJ rate hike this week weighed on the currency. Gold settled up 0.15% while silver fell 0.33%, as lower crude prices and safe-haven demand provided mixed cues.

Impact on assets 2

Others▼ · 2 stocks
💱Euro/US Dollar FX Spot Rate
EURUSD
▼ NegativeMonetaryrelevance

Hawkish ECB comments and strong German IFO data support euro, but US durable goods beat and safe-haven demand support dollar.

Off-coverage companies 1

Saudi AramcoPrivate▼ Negative
Geopoliticsrelevance

Houthi militants claimed strikes on Saudi Aramco-linked facilities, posing operational risk.

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