Release Explanation: The value of new orders placed with manufacturers in an economic region for both durable and non-durable goods. Shows the sentiment of the manufacturing side of the economy. GDP, Durable Goods reports are affected. A currency will eventually be affected by these numbers, but only once they filter through to the main releases.
Trade Desk Thoughts: New orders for manufactured goods in October, down three consecutive months, decreased $21.9 billion or 5.1% to $407.4 billion, the U.S. Census Bureau reported today. This followed a 3.1% September decrease. Excluding transportation, new orders decreased 4.2%. Shipments, also down three consecutive months, decreased $13.8 billion or 3.2% to $417.7 billion. This followed a 3.1% September decrease.
Unfilled orders, down for the first time in twenty-six months, decreased $5.1 billion or 0.6% to $823.1 billion. This followed a 0.2% September increase. The unfilled orders-to-shipments ratio was 5.69, up from 5.50 in September. Inventories, down two consecutive months, decreased $3.2 billion or 0.6% to $555.1 billion. This followed a 0.8% September decrease. The inventories-to-shipments ratio was 1.33, up from 1.29 in September.
Forex Technical Reaction: Stocks were off about 0.5% on the day so far. The dollar gained a bit on the euro and pound immediatley after the report was released, but the move was small. S&P futures were negative most of the night and USD/JPY declined.