Durable goods report highlights
– Prior was -0.5% (revised to -0.8%)
– Non-defense capital goods orders ex air -0.4% vs +0.5% expected
– Prior non-defense capital goods orders ex air +0.7% (revised to +1.1%)
What a headache with all the revisions. In general, even with a positive revision here and there, the numbers are soft and that’s a USD negative. The kneejerk is USD higher on the main headline but that’s not going to last.
