Analysts at TDS suggest that US preliminary durable goods orders for May are the focus for data and the market consensus is for a 1.0% decline on weak aircraft orders, while the ex. transportation measure and core capex orders are expected to print at 0.5% m/m.
Key Quotes
“Preliminary trade data will give an early look at net exports for May and the market consensus is for a modest widening in the deficit to $69.0bn from $67.3bn.”
“Pending home sales round out the data calendar and the market looks for a 0.5% m/m increase.”
“We are also scheduled to hear from the Fed’s Quarles and Rosengren. Quarles will speak about bank regulation at 11:00 ET shortly before Rosengren delivers a lecture on “Ethics and Economics” at 12:15 ET.”
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