26 May 2015
Key events ahead: US data should confirm that a Q2 recovery is on track – Danske
FXStreet (Barcelona) - Sverre Holbek, Senior Analyst at Danske Bank, previews the key events and data releases ahead, noting that the focus remains on the US durable goods orders, new home sales and the consumer confidence data.
Key Quotes
“Focus will be on a number of US data that should at least to some degree confirm that growth is poised to rebound in Q2 on the back of a subdued Q1. Durable goods orders for March suggested that business capex gained momentum in late Q1 and today's durable goods orders for April will show if the higher pace of core capital goods orders was maintained in April.”
“New home sales in the US overall maintained its upward trend in Q1 despite the bad weather in February and March. We expect new home sales to have rebounded in April on the back of a drop in March.”
“Higher gasoline prices have weighed a bit on consumer sentiment in recent months. However, employment growth is still healthy and we expect Conference Board's consumer confidence to have been unchanged at 95.2 in May.”
“We also have a couple of speeches from central bankers in the calendar today. Bank of Italy governor Ignazio Visco will speak at 10:30 CET in connection with Bank of Italy's annual meeting and Fed Vice Chairman Stanly Fischer will speak at 18:30 CET about 'The Federal Reserve and the global economy'.”
Key Quotes
“Focus will be on a number of US data that should at least to some degree confirm that growth is poised to rebound in Q2 on the back of a subdued Q1. Durable goods orders for March suggested that business capex gained momentum in late Q1 and today's durable goods orders for April will show if the higher pace of core capital goods orders was maintained in April.”
“New home sales in the US overall maintained its upward trend in Q1 despite the bad weather in February and March. We expect new home sales to have rebounded in April on the back of a drop in March.”
“Higher gasoline prices have weighed a bit on consumer sentiment in recent months. However, employment growth is still healthy and we expect Conference Board's consumer confidence to have been unchanged at 95.2 in May.”
“We also have a couple of speeches from central bankers in the calendar today. Bank of Italy governor Ignazio Visco will speak at 10:30 CET in connection with Bank of Italy's annual meeting and Fed Vice Chairman Stanly Fischer will speak at 18:30 CET about 'The Federal Reserve and the global economy'.”