The most important release today is the U.S. durable goods orders. We expect a relatively weak report. The volatile headline might increase, but durable goods orders excluding transportation and defence are likely to decline, as we have seen low industrial production growth and weakness in manufacturing PMIs.
We expect U.S. Conference Board consumer confidence to be unchanged after the surge in May. The positive effects of falling gasoline prices and past increases in stock markets are partly offset by a decrease in the S&P index this month.
Plenty of ECB speeches today. Most important is Draghi's speech on 'A strong Europe - A Bright Future for Germany'. He might try to address the recent sharp increase in rates. This will also be Draghi's first chance to address the BIS critique.
In Scandinavia, Norway will tap the 10-year government bond with NOK2bn.
To Read the Entire Report Please Click on the pdf File Below.
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Weak Data Expectations For U.S. Durable Goods
Published 06/25/2013, 07:46 AM
Updated 05/14/2017, 06:45 AM
Weak Data Expectations For U.S. Durable Goods
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