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US: Inflation and durable goods data in focus - TDS

According to analysts at TD Securities, the PCE inflation for November and preliminary durable goods orders will provide the last top-tier data ahead of the holidays for the upcoming US session.

Key Quotes

“TD and the wider market looking for core PCE to recover to 1.9% y/y on a 0.2% increase. Headline PCE will be weighed down by lower gasoline prices, resulting in a 0.1% m/m increase that will leave the deflator up 1.8% y/y (market: 0.0% m/m, 1.8% y/y).”

“Durable goods orders are projected to rise by 1.0% m/m on a recovery in aircraft orders, which will leave the ex-transport index flat on the month (market: 1.6%, 0.3%).”

“The final release for November University of Michigan consumer confidence will round out the calendar although the market does not look for any revision to the preliminary 97.5.”

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