US data coming up - Nomura
|Analysts at Nomura offered a preview of the forthcoming US data.
Key Quotes:
"Advance goods trade balance: The goods trade balance was -$68.8bn in January, a wider deficit than in December, driven by soft goods exports and a steady increase in imports. In February, container data at ports suggest imports may have pulled back after many months of increase while exports increased steadily. Thus, we expect goods trade balance of -$65.1bn, slight narrowing of the deficit from January (Consensus: -$66.4bn).
Case-Shiller home price index: Home prices in urban areas increased 0.93% m-o-m in December. The annual pace picked up notably, registering 5.58% y-o-y, following an uptick in November. Firm consumer fundamentals for the housing market, coupled with lean supply of housing units, likely continued to exert upward pressure on housing prices in January. However, some of the potential increase may have been due to residual seasonality, which causes relatively rapid increase in the fall/winter months. Consensus expects an increase of 5.60% y-o-y.
Conference Board’s Consumer Confidence: This consumer confidence index rose further to 114.8 in February from 111.6 in January on improvement in the assessment of future expectations. Incoming data suggest consumer sentiment remained elevated in March. Steady pace of job creation and gains in equity markets may have contributed to continued optimism. Moreover, the preliminary report of the Michigan survey indicates that consumer sentiment in March improved slightly in March on a pick-up in consumers’ assessment of current conditions. Thus, we expect the consumer confidence index to have remained elevated at 115.0 in March (Consensus: 114.0)."
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.