Investing.com - U.S. orders for long lasting manufactured goods rose more than forecast in February, bolstering optimism over the economy, according to official data released on Friday.
Total durable goods orders, which include transportation items, increased by 1.7% last month, the Commerce Department said, compared to economists' expectations for a gain of 1.2%.
January’s orders were revised up to show a gain of 2.3% from a previously reported 2.0% increase.
Durable goods are typically bulky or heavy manufactured products designed to last at least three years.
Core durable goods orders, which exclude volatile transportation items, rose by 0.4% last month, slightly below forecasts for a 0.5% gain.
January's core durable goods orders showed a 0.2% advance, revised up from the previous unchanged reading.
Durable orders excluding defense advanced 2.1% in February, compared to the prior month’s 2.1% increase (revised from a previously reported 1.6% gain).
Durable goods excluding defense and aircrafts slipped 0.1% in February, compared to expectations for a 0.6% gain.
The previous month was revised up to a 0.1% rise from the prior 0.1% decline.
After the report, EUR/USD was trading at 1.0801 from around 1.0802 ahead of the publication; GBP/USD changed hands at 1.2483 compared to 1.2487 previously; while USD/JPY was unchanged at 111.03.
The US dollar index, which tracks the greenback against a basket of six major rivals, traded at 99.52 compared to 99.50 ahead of the release.
Meanwhile, U.S. stock futures pointed to a slightly higher open. The Dow futures gained 37 points, or 0.18%, the S&P 500 futures rose 2 points, or 0.10%, while the Nasdaq 100 futures advanced 12 points, or 0.23%.
Elsewhere, in the commodities market, gold futures traded at $1,244.75 a troy ounce, compared to $1,245.85 ahead of the data, while crude oil traded at $48.02 compared to $48.03 earlier.