Back
27 Feb 2013
Forex Flash: Weak Boeing to retrace last US Durable Goods Orders gains – TD Securities
January home sales are expected to rebound by 1.7% M/M after the -4.3% drop in December, while durable goods orders are expected to undo the entire prior month’s gain at -4.7% in January (TD is slightly lower at -5.0%) thanks to weak Boeing orders, according to TD Securities analysts. “Excluding transportation, TD is looking for orders to fall at a far more modest 0.5% M/M pace (mkt +0.2%), mostly on account of weaker defense orders”, wrote analyst Alvin Pontoh, expecting core capital goods orders to post a modest 0.5% M/M gain in January (mkt +0.2%), “underscoring the ongoing improvement in business capital investment activity momentum”.