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In December, new orders for major American capital goods suddenly slumped in the face of decreasing demand for machinery as well as primary metals, indicating a sustained deceleration in business spending on equipment, which could further impact economic surge.
On Thursday, the US economy's outlook was also affected by other reports that disclosed that a measure of factory activity in the mid-Atlantic region dived in February for the first time since May 2016, while in January, home resales went down to a more than three-year minimum.
Along with the previous week’s data, Thursday’s reports revealed abrupt dives in retail sales in December as well as manufacturing output in January that backed the major US bank’s stance toward lifting interest rates further in 2019.
Minutes of the Fed’s January 29-30 policy gathering issued on Wednesday noted that certain risks to the downside had tacked on, with regard to the outlook for the American economy. The major US financial institution left interest rates on hold at that gathering and also discarded pledges of more lifts in borrowing costs.
As the Commerce Department informed, without aircraft, orders for non-defense capital goods went down by 0.7%. November’s data was updated downwards to demonstrate core capital goods orders tumbled by 1% instead of tumbling by 0.6% as earlier disclosed.
Market experts interviewed by Reuters had predicted core capital goods orders would soar by 0.2% in December. As for core capital goods orders, they headed north by 6.1% on a year-on-year basis.
Moreover, in December, shipments of core capital goods rallied by 0.5% following an unrevised 0.2% soar in November. As a rule, core capital goods shipments are utilized to calculate equipment spending in the US cabinet’s GDP measurement.
The US Inflation Rate (CPI) will be announced on Wednesday, October 13, at 15:30 MT (GMT+3). Traders eagerly await this event as it will impact the USD and thus the vast majority of currency pairs in the Forex market.
The US will reveal Non-farm payrolls today at 15:30 GMT+3. Here are the forecasts of 8 major banks regarding the upcoming NFP report. The common forecast (market consensus) is 500K. What’s yours?
The Fed can start tapering already this November, oil is rallying pushing the Canadian dollar up! Jump in to know more!
The bullish movement in the stock market is gaining speed, and Bitcoin ETFs are closer than they might seem. What do we need to know for the next trading week?
The Fed is ready to start tapering in November. Since the markets were expecting this and it wasn’t a surprise, the USD slumped allowing risk-on currencies and gold to rally up.
US Retail Sales will be out on October 15 at 15:30 MetaTrader time (GMT+3).
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