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Analysts at TD Securities suggest that the US durable goods orders are expected to post a sizeable rebound in August on a correction in aircraft orders, which saw an outsized pullback in July.

Key Quotes

“The market consensus is for a 2.0% increase (TD: 2.9%), with ex-transport and core capex orders expected to rise by 0.4% m/m (TD: 0.7%, 0.8%). Rounding out the calendar are a number of lower-tier data releases including the advance goods trade report for August (mkt: -$72.0bn), pending home sales for August (mkt: -0.5% m/m), initial jobless claims (mkt: 210k) and the third release of Q2 GDP growth, which is expected to remain unrevised at 4.2%.”