• Durable Goods Orders contracted at a stronger pace than expected in January.
• US Dollar Index stays in daily range below 104.00 after the data.

Durable Goods Orders in the United States declined by 6.1%, or $18 billion, to $276.7 billion in January, the Census Bureau reported on Tuesday. This reading followed the 0.3% decrease recorded in December and came in worse than the market expectation for a contraction of 4.5%.

"Excluding transportation, new orders decreased 0.3%," the publication read. "Excluding defense, new orders decreased 7.3%. Transportation equipment, also down three of the last four months, led the decrease, $17.4 billion, or 16.2%, to $89.8 billion."

Market reaction

These numbers don't seem to be having a significant impact on the US Dollar's (USD) valuation against its major rivals. At the time of press, the US Dollar Index was down 0.06% on the day at 103.72.