US: Durable Goods Orders rose 1.2% in February vs. -0.8% expected

• US Durable Goods Orders rose unexpectedly in February.
• US Dollar Index posts modest daily losses near 101.50.

Durable Goods Orders in February increased by 1.2%, or $2.9 billion, to $249.4 billion, the US Census Bureau announced in its advanced report on Wednesday. This reading came in much better than the market expectation for a decline of 0.8%. Additionally, January's reading got revised up to -0.1% from -0.2%.

"Excluding transportation, new orders decreased 0.6%, the publication further read. "Excluding defense, new orders increased 0.1%. Transportation equipment, up two of the last three months, drove the increase, $3.8 billion or 4.6% to $87.0 billion."

Market reaction

The US Dollar Index ignored these data and continues to stay relatively calm near the 101.50 handle ahead Wall Street's opening bell.