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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 orders were stronger than expected in preliminary April data at 0.3% M/M (cons 0.1) but with downward revisions heavily offsetting with -0.1% in March (initial 0.1%).
- There’s a similar story in core shipments data, beating with 0.4% M/M (cons 0.1) but after a downward revised -0.3% (initial 0.0%).
- Shipments have languished recently, at exactly 0.0% annualized on a 3M/3M basis vs 0.3% three months prior, but orders suggest some strength ahead with a 1.4% annualized increase.
- There continues to be a disconnect with surveys: the ISM manufacturing survey falling heavily into implied contractionary territory in 2H23 only partly weighed on durable goods activity (at least in nominal terms) but equally the former's recent recovery hasn’t had much impact on latest orders.
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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