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U.S. durable goods order likely to have grown strongly in December

U.S. durable goods order data for the month of December is set to release tomorrow. According to a Barclays research report, the overall new orders of advance durable goods are likely to have risen 4.6 percent sequentially in the month, following the 0.7 percent rise in November.

The likely December rise in durable goods is possibly driven by a 12.5 percent sequential rise in orders in the volatile transportation category, reflecting a December upswing in aircraft orders at Boeing.

Stripping transportations, orders are likely to have grown 0.5 percent sequentially in December. This would be partially because of an artificial push from residual seasonality in the data.

“We expect orders of nondefense capital goods excluding aircraft (core capital goods) to move down 0.4 percent m/m in December, a somewhat slower pace of decline than November’s 0.6 percent m/m decrease”, added Barclays.

At 17:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was highly bearish at -138.082 more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex

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2019-05-23 15:16:48
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