US: Key economic events ahead – Barclays
The Barclays Research Team offers key insights on today’s key US economic data releases due on the cards from 1330 GMT.
Key Quotes:
“Durable goods: Working from available forward-looking indicators such as the October ISM, we forecast that headline durable goods orders will move down 3.8% m/m in October on the heels of September's 0.7% m/m increase. This decrease is mostly concentrated in the volatile transportation categories, as we forecast that ex-transportation orders will rebound to a 0.4% m/m increase following a slight decline in September.
Existing home sales: We expect existing home sales to have decreased 0.5% m/m (-6.8% y /y), bringing the total level of sales to 5.12mn. Existing home sales have been declining since April, and we expect this weakness to extend to the October report.
UoM consumer sentiment: We expect the final estimate of the University of Michigan consumer sentiment to edge a touch lower to 98.0 (from 98.3). That said, even at this level, the index would remain consistent with the broadly positive sentiment.”
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
