US: Politics and data to remain at the centre stage - TDS

The US Senate Banking Committee will hold a confirmation hearing for Fed nominee Randy Quarles at 10:00 ET and will be a key event for the US, according to analysts at TDS.

Key Quotes

“Quarles has been nominated for vice chair of supervision and is the first Fed vacancy filled by the Trump administration.”

“On the data front, we have preliminary durable goods orders for June which TD expects to rise by 3.0% m/m, below the 3.7% consensus. Aircraft orders will be the primary driver after upbeat reports from the Paris Air Show which should leave ex-transport orders considerable weaker. TD expects ex-transport orders to rise by 0.2% m/m while the market looks for a 0.4% print. Advance goods trade for June is also on the calendar and the market looks for a modest narrowing in the goods trade deficit to $65.3bn.”