US data: preview
Analysts at RBS expect a surge in the US durable goods orders (due today at 12:30 GMT). The specialists say that the reason for this is a temporary surge in civilian aircraft orders. They expect a 9.0% m/m gain of the headline reading in July, but warn that the core orders may be flat dampening the positive impact. In addition, RBS expects that there will be a modest decline in the US confidence index (14:00 GMT) because of the slightly higher unemployment rate.
Rabobank points out that the expectations for durable goods are high, but this indicators used to disappoint the market so far.