Analysts at TD Securities suggest that the US Philly Fed survey is expected to show a decline to 10.7 in June following the notable 8.1 increase to 16.6 in May.
Key Quotes
“We flag that, as was the case with the NY Empire survey, this report may surprise further to the downside as it will likely reflect the negative sentiment from the US-Mexico trade spat that was at its high around the collection of the survey responses.”
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