25 Jun 2014
US docket in the spotlight today – Danske Bank
FXStreet (Edinburgh) - Analyst Pernille Nielsen at Danske Bank observes the relevance of today’s releases in the US economy.
Key Quotes
“The main data release today is US durable goods orders where focus will be on core orders”.
“The series is quite volatile and although core orders were weaker than expected in April, it has jumped higher in recent months and suggests a rebound in US capex in Q2 after a weak Q1”.
“The recent upward trend is set to continue in May, thus giving more confidence of a broad-based recovery going into H2”.
“Also in the US the third release of GDP growth in Q1 is due and we expect a downward revision to -1.8% q/q from -1.0% q/q. Our expectation of a downward revision follows as health care spending should be revised sharply lower”.
Key Quotes
“The main data release today is US durable goods orders where focus will be on core orders”.
“The series is quite volatile and although core orders were weaker than expected in April, it has jumped higher in recent months and suggests a rebound in US capex in Q2 after a weak Q1”.
“The recent upward trend is set to continue in May, thus giving more confidence of a broad-based recovery going into H2”.
“Also in the US the third release of GDP growth in Q1 is due and we expect a downward revision to -1.8% q/q from -1.0% q/q. Our expectation of a downward revision follows as health care spending should be revised sharply lower”.