US: Durable goods order and initial jobless claims to be focus – TDS

By FXStreet Research Team at TDS, suggests that the US preliminary durable goods orders for April will be the focus and TD has an above consensus call for +1.0% m/m (market: +0.5% m/m), buoyed by strong orders from Boeing.

Key Quotes

“Excluding the transportation sector, orders should advance by a more modest 0.4% m/m while core orders should improve by just 0.2% m/m (market: 0.3% m/m for both).

Initial jobless claims are projected by TD to march higher to 284k; the market is more constructive and calls for a slight (3k) improvement to 275k.

Last on the agenda is the Kansas City Fed Index, which is expected by the market to improve marginally from -4 to -3. TD expects the series to deteriorate to -5 following disappointments from Empire Manufacturing and the Philly and Richmond Fed indices.

On the Fed front, we will hear from St. Louis President Bullard and Governor Powell, both of whom are voters in 2016. In a CNBC interview earlier this week, Bullard gave a short interview on CNBC yesterday where he commented that the US is “at or beyond full employment”, though a June/July hike was not set in stone due to weakness in data elsewhere.”
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Source:: FX Street