Analysts at Nomura suggest that the release of vehicle sales and factory orders data will garner maximum attention in today’s US session.
Key Quotes
“The advance durable goods report showed some softening in industrial activity in May. Durable goods orders excluding volatile transportation components declined 0.3% m-o-m while core capital goods orders (excluding defense and aircraft) declined 0.2%. The overall softness in the advance durable goods report indicates that factory orders as a whole in May are likely to decline.”
“Vehicle sales: We expect vehicle sales to increase to 16.9mn saar in June, up from the 16.8mn saar pace in May. After a weather-related surge in September 2017, sales have steadily trended lower towards their mid-2017 average pace of 16.6mn saar.”
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