Today we have the release of Core Durable Goods orders. With the Manufacturing sector responsible for most of the economic growth since the recession, market participants will be looking to today’s result to ascertain whether that trend will continue. Core Durable Goods tend to be more closely followed as more volatile items that can skew results are excluded, giving a more representative result of future prospects for the Manufacturing sector.
Trading Event: Core Durable Goods Orders, 1230 GMT.
- April’s Core Durable Goods Orders (excluding transportation items) rose 0.3% largely against expectations.
- This month Durable Goods Orders are expected to fall 0.1%, due to a decrease in military spending responsible for March’s result.
- Core Durable Goods orders are expected to rise in May by the same rate as the previous month, at a rate of 0.3%.
- Banc De Binary analysts predict that the manufacturing will continue its expansion, with an increase in Core Durable Goods, indicating a potential downward movement in the EUR/USD.