In the US session Durable Goods Orders and CB Consumer Confidence figures were released. Orders for U.S. durable goods climbed less than forecast in March as demand for capital equipment remained weak, a sign that a diminished growth outlook is impeding investment. Bookings for items meant to last at least three years rose 0.8% after a revised 3.1% slump a month earlier, data from the Commerce Department showed Tuesday. The median forecast in a Bloomberg survey called for a 1.9% advance. Orders for business equipment were little changed last month, also weaker than projected.
The Conference Board Consumer Confidence Index, which had increased in March, declined moderately in April. The Index now stands at 94.2, down from 96.1 in March. The Present Situation Index increased from 114.9 to 116.4, while the Expectations Index decreased from 83.6 to 79.3 in April. “Consumer confidence continued on its sideways path, posting a slight decline in April, following a modest gain in March,” said Lynn Franco, Director of Economic Indicators at The Conference Board.
Tomorrow's session will bring UK GDP data. 0.4% growth is forecasted. In the US session Pending Home Sales figures will be released. Analysts are predicting 0.3% increase. However, the focus of the session will be on FOMC interest rate decision and the following statement which should bring a lot of volatility to the markets though rate should remain unchanged.
Figures to watch:
Prelim GDP (Wednesday 10:30)
Pending Home Sales (Wednesday 16:00)
Federal Funds Rate/FOMC Statement (Wednesday 20:00)
Last modified on Tuesday, 26 April 2016
