USD: Focus on durable goods and Yellen speech – TDS
FXStreet (Delhi) – Prashant Newnaha, Rates Strategist at TD Securities, notes that the market’s focus will shift domestically as durable goods data and Fed Chair Yellen’s remarks capture the spotlight.
Key Quotes
“We look for a 1.3% m/m decline in August durable goods orders (market at -2.3% m/m), with ex-transport orders slipping a smaller 0.5% m/m (consensus at +0.1% m/m). Core orders are expected to weaken 0.3% m/m. August new home sales are nevertheless likely to show a 2.5% m/m increase to 520K as weekly jobless claims edge up to 272K from 264K.”
“Yellen will deliver a lecture at UMass Amherst at 5:00pm ET, likely striking a tone similar to that seen in her post-FOMC press conference. The $29B 7yr note auction will wrap up the week’s supply calendar, with the relative richness of 7s potentially weighing modestly on demand. Averages nevertheless suggest a stop 0.1bps through the screens as the buy side takes a solid 65% of the sale.”
Prashant Newnaha, Rates Strategist at TD Securities, notes that the market’s focus will shift domestically as durable goods data and Fed Chair Yellen’s remarks capture the spotlight.
(Market News Provided by FXstreet)