2 June 2006, 16:26  A downward correction is likely in U.S durable good orders

After the strong increase during March, U.S. durable good orders are expected to decline around 2.0% in April due to higher energy prices. “Some of this fall is likely just a retraction after the incredibly high number of orders in March, but also there has been some evidence of weakening in the manufacturing sector,” said Richard Lee, currency analyst at Forex Capital Markets LLC. According to Ian Gunner, head of FX research at Mellon Foreign Exchange: “sizeable declines may affect sentiment about the US economy in the current environment of high anxiety.”

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