In the US session Durable Goods Orders and CB Consumer Confidence figures were released. Orders for business equipment at U.S. factories unexpectedly fell for a second month, a sign that demand is cooling from its hot pace in recent quarters, a Commerce Department report showed Tuesday. Non-military capital goods orders excluding aircraft declined 0.2% (est. up 0.5%) after falling 0.6% the prior month. Shipments of those goods, which are used to calculate gross domestic product, rose 0.1% (est. up 0.3%) after an upwardly revised 0.7% increase. Bookings for all durable goods, items meant to last at least three years, dropped 3.7% (est. 2% decline) following a downwardly revised 2.6% increase. Excluding transportation-equipment demand, which is volatile, orders fell 0.3% (est. up 0.4%) after rising 0.7%.
The Conference Board Consumer Confidence Index® increased in February, following a modest increase in January. The Index now stands at 130.8 (1985=100), up from 124.3 in January. The Present Situation Index increased from 154.7 to 162.4, while the Expectations Index improved from 104.0 last month to 109.7 this month. "Consumer confidence improved to its highest level since 2000 (Nov. 2000, 132.6) after a modest increase in January," said Lynn Franco, Director of Economic Indicators at The Conference Board.
There will be no data releases from Australia tomorrow. In the US session, Prelim GDP figures will be published. Analysts predict 2.5% increase.
Figures to watch:
Prelim GDP (Wednesday 14:30)
