US: Fed speak and durable goods order data in focus - TDS

Research Team at TDS, suggests that the Fed speak will be the largest market driver with several members of the FOMC set to give speeches.

Key Quotes

“We would highlight Mester (voter, hawk), who is set to speak at 16:45 ET on economic outlook for the first time after her hawkish dissent while Yellen’s testimony on banking supervision and regulation is unlikely to yield any new information.

On the data front, durable goods orders for August are the lone release; TD looks for headline orders to decline by 1.4% m/m due to weaker Boeing orders. Excluding the volatile transportation component, orders should post a more moderate 0.8% m/m decline, unwinding much of the outsized gain from July. The market looks for -1.5% m/m and -0.5% m/m for headline and ex. transport metrics, respectively."