US durable goods likely impacted by aircraft orders, oil-sector cuts

US durable goods (Tuesday, 08:30 ET) is expected to be down 1.3% m/m (consensus: -0.9%), from -1.0% in April, pulled down by lower aircraft orders. However, June's apparently fruitful Paris Airshow may lift this sub-category later on. 

Standard Chartered notes:

• We see the ex-transport reading down 0.2%, after -0.2% in April, mostly reflecting lingering investment cuts in the energy sector and the effects of a strong dollar. 
  
  
• We think the good news will be come with the release of new home sales (10:00 ET), which we forecast at 530,000, more than the consensus view of 523,000. This rise could echo the strength in May existing home sales, released on Monday. 
  
  
• Markit releases its preliminary PMI survey at 09:45 ET (we expect 55.0, consensus: 54.1).