On tap for Tuesday: NA-made light...>

US DATA PREVIEW: On tap for Tuesday: NA-made light vehicle sales for March

throughout the session; February durable goods new orders; Redbook retail sales;

March ISM-NY current conditions.

- On durables, Barclays economists "expect overall durable goods orders to

decline 2.5% m/m, mostly due to an outsized 7.5% m/m fall in the transportation

category as orders in the volatile non-defence aircraft segment fall back from

January's elevated level."

- Nomura economists say durable goods orders "likely fell 0.5% m-o-m in

February, lowered by a sharp decline in civilian aircraft orders which tend to

be highly volatile. Orders for autos and auto parts likely increased modestly." 

- On NA-made light vehicle sales, Nomura estimates a slight pick-up in pace to

"16.7mn saar in March from 16.6mn in February. A brief period of

colder-than-usual weather in February likely held down vehicle sales during the

month, part of which may revert in March. However, a slower ramp-up in tax

refunds this year may weigh somewhat on auto purchases."