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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 weaker than expected in the preliminary July print, especially when factoring in downward revisions.
- Orders increased +0.1% M/M (cons 0.1) but after a downward revised -0.4% M/M (initial 0.1) in June.
- Shipments surprisingly fell -0.2% M/M (cons -0.1%) after a downward revised -0.1% M/M (initial 0.1).
- The orders trend is now seen unchanged at ~1.8% annualized, but it had been tracking at 2.4% annualized as of the initial June data. Either way, it continues to exhibit resilience to the heavy contraction implied by the ISM manufacturing survey, as has been the case for some months now.
- The report takes off some of the gloss from the 0.5% rebound in manufacturing production in July after the -0.5% of June.
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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