Urgent - U.S. durable goods orders are extremely negative and below expectations.

The U.S. Census Bureau released data on durable goods orders for last November, which showed that the indicators contracted at a worse pace than market expectations.

According to the data, durable goods orders contracted by 1.1% in November, which was worse than expectations that indicated a potential contraction of 0.3%, after the index grew by 0.3% in October, revised from 0.2%.

The core durable goods orders index also recorded a contraction of 0.1% in November, which was worse compared to expectations that predicted a growth of 0.3%. The previous reading for the core index had recorded a growth of 0.1% in October, revised to a growth of 0.2% during the same period.

This index is important for measuring the change in the value of new orders submitted to manufacturers on a monthly basis, as it reflects an increase in industrial activity and production. It plays a vital role in the movement of the U.S. dollar, as positive data tends to support the currency, while negative performance can adversely affect the value of the dollar.