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US: Economic reports in focus - BBH

FXStreet (Delhi) – Research Team at BBH, note that there are three US economic reports that will provide headline risk today which includes initial jobless claims, durable goods orders and new home sales.

Key Quotes

“Weekly initial jobless claims may tick up after the low 264k print last week. Note that the four-week moving average used to smooth the high-frequency time series stands at 272k. The cyclical low set in July was 266k.”

“The US will report August durable goods orders. A soft report is expected, and this could weigh on Q3 GDP forecasts, which the Atlanta Fed says is tracking about 1.5%, well below consensus.”

“The US also reports new homes sales. New homes sales were running at a 507k annual unit pace in July compared with 403k in July 2014. The consensus is for a small increase to 515k, but after the disappointing existing home sales, the risk appears on the downside.”

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