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Sharp contraction expected in US Durable Goods Orders – UOB

FXStreet (Edinburgh) - Analysts at UOB Group expect a significant contraction in today’s data following the surge of more than 20% during July.

Key Quotes

“The focus for the US data docket today is he August durable goods orders which if you recall surged more than 22% m/m in July (due to transport) and the current market expectation is to see a 18%mom contraction in August”.

“The rest of the data docket includes the usual weekly initial jobless claims and the September Kansas City Fed manufacturing index”.

“Elsewhere in the developed economies, we have a relatively light data docket today with just the Japan August PPI services, the euro-zone August money supply M3 and the UK Sep hometrack housing survey”.

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