August preliminary durable goods up next
The economic highlight at the bottom of the hour is the August durable goods report. It will likely have some market effect but with all the Fed-speak, Deutsche Bank and OPEC on the agenda, it may be ignored.
The consensus in overall durable goods is for a 1.5% decline following a 4.4% jump in July.
But the line to watch is core durable orders, also known as capital goods orders non-defense ex-aircraft, which is forecast to decline 0.1% after a +1.5% reading in July.
In general terms, this series has been serially disappointing for a few years so another good month after July would be, at best, the beginning of the end of a dark period.
Estimates range from +0.6% (BNP Paribas) to -1.6% (Goldman Sachs).
Here is the rest of the economic calendar.
