US: Focus on Fed Minutes – TDS

The market’s focus will be split between the data calendar and November FOMC minutes, which will be published at 14:00 ET, according to analysts at TDS.

Key Quotes

“Markets will parse the Fed minutes for any signal about the path of rates beyond year-end but with a December rate hike over 95% priced, it is unlikely that the minutes add anything new to the debate.”

“On the data front, preliminary durable goods orders for October are the most noteworthy release. TD is broadly above the market and looks for a 0.5% m/m increase in headline and ex-auto orders, while capital goods order should maintain their strong momentum with a 0.8% advance (market: headline: 0.3%, ex-auto: 0.5%, capital goods 0.5%).”

“The market expects University of Michigan Consumer Sentiment to be revised slightly higher to 98.0 for the final October reading while the market consensus is for weekly jobless claims to fall back to 240k from 249k.”