The U.S. Commerce Department released durable goods orders data on Wednesday. The U.S. durable goods orders increased 2.0% in July, beating expectations for a 0.4% decrease, after a 4.1% gain in June. June's figure was revised up from a 3.4% rise.

The increase was partly driven by rises in new machinery, electronics and other goods.

Transportation orders climbed 4.7% in July.

The U.S. durable goods orders excluding transportation rose 0.6% in July, exceeding expectations for a 0.4% gain, after a 0.8% increase in June.

The U.S. durable goods orders excluding defence climbed 1.0 % in July, after a 4.2% gain in June. June's figure was revised up from a 3.8% increase.

A stronger U.S. dollar weighs on U.S. exports and makes imports more attractive for consumers in the U.S.