FXStreet (Barcelona) – The Brown Brothers Harriman team shares their forecast for the US data releases ahead – US factory orders, Auto sales and NFP to be released later in the week.
Key Quotes
“Turning to the North American session, today’s reading on US factory orders is unlikely to be as supportive as yesterday’s manufacturing ISM and construction spending report. However, the report adds only marginally to the durable goods orders that have already been released.”
“That said, US auto sales are expected to be robust. The consensus call for a 17.15 mln unit pace would be the strongest since last August’s peak of 17.45 mln. It would also see the 12-month moving average rise to a new cyclical high (from 16.69 mln in April). This would also bode well for headline May retail sales.”
“The big number of the week is still the monthly jobs report Friday, and the consensus is for an increase of 228k. Such a report, after a 223k increase in April, would underscore that March’s gain of only 85k was a bit of a fluke.”
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