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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
- Core durable goods data were mixed to softer than expected in June preliminary data.
- Orders beat expectations with 0.2% M/M (cons -0.1%) but with the gloss taken off by a downward revision in May to 0.5% (from 0.7%).
- Shipments meanwhile were flat at 0.0% M/M (cons 0.2%) after an unrevised 0.3% M/M.
- It leaves solid recent trends, with shipments slowing to 1.8% annualized in Q2 from 2.3% in Q1 but forward-looking orders gathering steam with 2.6% in Q2 after 2.3% in Q1. Whilst not strong figures in an outright sense, these figures are notably resilient compared to the ISM manufacturing survey firmly in contractionary territory.
- The headline durable goods orders saw a particularly large beat at 4.7% (cons 1.3) after an upward revised 2.0% (1.8%), stemming from nondefense aircraft & parts orders surging 69.4% in June after 33% in May.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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