US Durable Goods Orders Preview: Rising figures to cheer up the dollar
|Durable Goods Orders, which offer insight into the long-term outlook of consumers and businesses, are expected to rise 0.8% in April. According to FXStreet’s Analyst Joseph Trevisani, markets may find some dollar and yield solace in the figures.
Jobs should equal spending
“Durable Goods purchases are expected to climb 0.8% in April after March was revised to 1% from 0.5%. Goods outside of the transport sector are forecast to add 0.7% following March’s adjustment to 2.3% from 1.6%. Nondefense Capital Goods, the business investment proxy, is projected to add 1.5% after March was raised to 1% from 0.9%. Orders ex-Defense increased 1.8% in March, revised from 0.5%.”
“For consumers and businesses the expectations for employment and sales should be very high and that may encourage Durable Goods purchases despite April’s weak Retail Sales.”
“Currency markets have sold the dollar on poor US consumer numbers. Durable Goods could give that narrative pause.”
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