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US Durable goods orders and consumer confidence data in focus - Danske

FXStreet (Łódź) - The Danske team of analysts comment on the possible results of the US Durable goods orders and consumer confidence releases, due out later today.

Key quotes

"In the US, durable goods orders are due for release and consensus is for an increase of 0.5% m/m in September."

"It should be noted that there was a sharp decline of 18.4% m/m in orders in August but it followed an even bigger increase of 22.5% m/m in July due to huge Boeing orders."

"Core durable goods shipments (excl. defence and airplane orders), which is a good proxy for equipment investment, increased in both July and August and are also expected to increase in September."

"Note that we expect a slight decline in GDP growth in Q3 to 3.0% y/y after a really strong rate of 4.6% y/y in Q2."

"US consumer confidence is also released and we expect an increase to 87.0 in October after it declined to 86.0 in September. The decline in September followed a period of increases and the trend is still up, although there was a clear setback in September."

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