US: Durable goods orders expected to rise 0.5% - Rabobank

Michael Every, Head of Financial Markets Research at Rabobank, suggests that in the US we have durable goods orders, which are often all things to all men given the layers of detail in the report.

Key Quotes

“The expectation is for a 0.5% rise in headline orders after an upwardly-revised 1.3% in March, and a 0.3% increase in goods ex-transport along with a similar 03% rise in core orders ex-defence.

A strong report is likely to cement expectations that the Fed is not for turning at this stage (unless China/CNY has something to do with it, perhaps). However, it will be necessary to dig deep into the data to get the real picture of what is going on there. After all, as someone once wrote, “The truth is not for all men, but only for those who seek it.”