US: Factory Orders declined 0.5% in January vs. -0.1% expected

• Factory Orders fell more than expected in January.
• US Dollar Index continues to push lower below 97.

Factory Orders in January declined by 0.5%, or $2.3 billion, on a monthly basis following December's increase of 1.9%, the data published by the US Census Bureau showed on Thursday. This reading came in worse than the market expectation for an increase of 0.1%.

"New orders for manufactured durable goods in January, down two of the last three months, decreased $0.4 billion or 0.2% to $246.0 billion, unchanged from the previously published decrease," the publication further read.

USD selloff continues

The US Dollar Index edged lower on the disappointing data and was last down 0.47% on a daily basis at 96.60.