US: Focus on consumer sentiment and durable goods orders - Rabobank

Fresh data scheduled today will provide a greater insight into the US economy at the beginning of 2018 and US durable goods orders are seen falling 2.0% y/y in January down from 2.8% y/y in December mainly due to the negative impact of transportation orders, according to analysts at Rabobank.

Key Quotes

“Excluding transportation, 0.5% rise is expected, according to the market consensus. A modest increase in consumer sentiment to 126.4 in February is anticipated from 125.4 in January. The sell-off in US stocks may have weighed on sentiment, but this should be offset by the tax cuts that should support the underlying trend over the mid-term horizon.”