US: Durable Goods Orders Projected to Rebound - TDS
Research Team at TDS, expects that the US Durable goods orders are
projected to rebound in March following a 3.0% decline last month.
“TD sees an upside risk to the market consensus of +1.9% m/m as strong Boeing orders lend support to a +3.6% print. Excluding the transportation sector, orders should advance by a more moderate 1.2% m/m (market: 0.5% m/m) while core orders should increase by 0.4% m/m (market: 0.6% m/m).
Case-Shiller home prices are expected by the market to increase by 0.8% m/m in February for the 20-city index, though TD sees only a 0.6% gain. Later in the morning, we have the release of Flash Markit Services PMI for March at 900 ET. TD is broadly in line with the market and looks for an improvement to 52.2, slightly higher than the market consensus of 52.0.
April’s Conference Board measure of consumer confidence should climb from 96.2 to 98.1, though the consensus forecast is for a slight dip to 95.8. Lastly, the Richmond Fed Index will give us another glimpse at regional manufacturing data for April.”