US: Factory Orders increase by 6.4% in July vs. 6% expected

• Factory Orders in the US rose more than expected in July.
• US Dollar Index continues to climb higher toward 93.00.

New orders for manufactured goods, Factory Orders, in the US rose by $27.8 billion, or 6.4%, to $466.1 billion in July, the data published by the US Census Bureau showed on Wednesday.

This reading came in better than the market expectation of 6% and matched June's increase of 6.4% (revised from 6.2%). 

"New orders for manufactured durable goods in July, up three consecutive months, increased $23.7 billion or 11.4% to $231.1 billion, up from the previously published 11.2% increase," the publication further read.

Market reaction

The US Dollar Index, which tracks the USD's performance against a basket of six major currencies, continues to push higher after this data and was last seen gaining 0.53% on the day at 92.80.