US: Consensus is for a 1.0% decline durable goods orders - TDS

Analysts at TDS suggest that US preliminary durable goods orders for May are the focus for data and the market consensus is for a 1.0% decline on weak aircraft orders, while the ex. transportation measure and core capex orders are expected to print at 0.5% m/m.

Key Quotes

“Preliminary trade data will give an early look at net exports for May and the market consensus is for a modest widening in the deficit to $69.0bn from $67.3bn.”

“Pending home sales round out the data calendar and the market looks for a 0.5% m/m increase.”

“We are also scheduled to hear from the Fed's Quarles and Rosengren. Quarles will speak about bank regulation at 11:00 ET shortly before Rosengren delivers a lecture on "Ethics and Economics" at 12:15 ET.”