Analysts at TD Securities are looking for the US ISM manufacturing index to stay unchanged at 51.7 (mkt 52.0).
“We expect some of the major trade-related concerns to have dissipated in the short-term on the back of the US-China trade truce. This should translate into a stabilization in business sentiment and on the outlook for the sector. The message from the ISM-adjusted regional indices was mixed, with retreats in three out of the five published surveys we track.”
“Other data has been also mixed, as recent firm growth in core durable goods orders suggest some upside, while a weak Markit PMI survey increases the odds for a downside surprise in July.”