Orders are a leading indicator on the economy
The US week kicks off with some upper-tier data on durable goods orders at the bottom of the hour (1230 GMT). The consensus is for a 0.6% decline in orders following a 0.8% decline in April.
The headline numbers are skewed badly by military and aircraft orders so the market focuses is core orders, which are capital goods orders non-defense ex-air. That line is expected up 0.3% after a 0.1% rise in April.
