Analysts from Danske Bank, take a look into next week economic releases from the US. “We look for US durable goods orders to rise further as investment growth picks up. Markit PMI manufacturing for March is expected to be broadly flat.”
Key Quotes:
“In the US, we have a relatively quiet week ahead of us. On Friday, PMI manufacturing for March is due. Given that Markit PMI was significantly below the level suggested by ISM and Empire in February, one could be tempted to call for an increase in PMI manufacturing in March in order to close part of this gap.
“We expect the manufacturing PMI to stay around the current level. This continued improvement in manufacturing should also spill over into core capital goods orders for February, which is due to be released on Friday too. Both new orders and value of shipments bottomed out in mid-2016 and we expect them to move higher in coming months.”
“The coming week also brings a lot of speeches by FOMC members, including Fed chair Janet Yellen. This week’s rate hike was widely expected and Yellen came out more dovish than some had expected. At the press conference, Yellen made it clear that the March hike should not be interpreted to mean that the Fed has reassessed the economic outlook, but should be seen as simply one of the three hikes in 2017 that it projected in December 2016.”
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