What happened? On Monday, February 21, Russian President Vladimir Putin signed decrees recognizing the sovereignty of the Donetsk and Lugansk People's Republics…
US manufacturing sector stabilizes
In February, new orders for major American capital goods went down, while shipments didn’t change, although January’s data was updated a bit up, which could back views that the manufacturing sector was already stabilizing.
On Tuesday, the Commerce Department's mixed report on Tuesday emerged on the heels of a poll disclosing a rebound in a gauge of factory activity in March from a more than a two-year minimum. In fact, manufacturing has been struggling in part by decelerating global surge as well as a trade conflict between China and America.
Manufacturing still requires a driver to raise activity levels and experts guess that will come once the trade agreement with China seems to be ironed out.
As for orders for non-defense capital goods without aircraft, they inched down by 0.1%, suppressed by weakening demand for machinery as well as computers along with electronic products. Additionally, in January, core capital goods orders shot up by 0.9% in contrast with the previously recorded 0.8%.
Market experts had hoped core capital goods orders wouldn’t change in February. As for core capital goods orders, they ascended by 2.6% on a year-on-year basis.
In fact, shipments of core capital goods didn’t change after an upwardly updated 1% ascend in March. Evidently, core capital goods shipments are employed to calculate equipment spending in the government's GDP measurement.
Earlier they were reported to have tacked on by 0.8% in January. In fact, the February report was postponed by a 35-day partial shutdown of the federal cabinet, which concluded on January 25. The March report is going to be uncovered on April 25 as anticipated.
American financial markets were merely impacted by the data.
In February, orders for machinery headed south by 0.3% having ascended by 2% in January.
Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
The United States will publish the Federal Open Market Committee Meeting Minutes on November 24, at 21:00 GMT+2.
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
Every week we expect many interesting events that can shake the market.