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Forex Flash: Durable goods to rise 1% in June but weakness in the coming months – Wells Fargo
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FXstreet.com (San Francisco) – US Durable goods order report is schedule to be published next Thursday July 26 at 12:30 GMT (8:30 EST). According to the market, June is likely to show a 0.4% increase after a 1.1% rises in June. Ex-transportation, durable goods are expected to come at 0.1% weak increases.
Wells Fargo doesn’t agree with general expectations and they believe further increases in June. “Following two consecutive declines, durable goods orders rose 1.1 percent in May and are now up 5.9 percent on a year-ago basis,” comments The Wells Fargo analyst team. “We suspect durable goods orders in June will likely increase about 1.0 percent, as aircraft and vehicle orders will likely provide a boost to the headline.”
“The trend, however,” concluded Wells Fargo, “suggests weakness in the coming months.”
Article source: http://www.fxstreet.com/news/forex-news/article.aspx?storyid=dfd29323-7ce2-4a2c-9fac-08f45ed6c3a2
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