The U.S. Commerce Department released factory orders data on Monday. Factory orders in the U.S. rose 2.1% in March, exceeding expectations for a 2.0% increase, after a 0.1% decline in February. It was the largest increase since August 2014.

February's figure was revised down from a 0.2% rise.

The increase was driven by higher orders for durable goods. Durable goods orders jumped by 4.4% in March

Non-durable goods orders fell 0.3% in March.