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US data suggests economy on the right growth track – Deutsche Bank

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Jan 7, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Delhi) – Research Team at Deutsche Bank, notes that as well as the ADP and ISM numbers, the final services PMI for December was revised up 0.6pts at the final count to 54.3.

    Key Quotes

    “That helped to take the composite up to 54.0 at the final read from 53.5 in the earlier flash. Meanwhile, the November trade balance reading revealed a shrinking of the deficit to $42.4bn (vs. $44bn expected) from $44.6bn reflecting a drop in imports. Factory orders data offered few surprises after coming in at -0.2% mom in November as expected, while there was no change to the final revision for durable goods in the same month at 0.0% mom. Core capex orders was revised up one-tenth to -0.3% mom. Having highlighted the recent downward revision, yesterday’s narrowing of the trade deficit and resultant contribution from net exports has seen the Atlanta Fed now upgrade their Q4 GDP forecast to 1.0% from 0.7% a few days ago.

    Meanwhile, the Fed Vice-Chair Fischer was vocal again yesterday. Following on from San Francisco Fed President Williams’ comments that he see’s 3 to 5 rate hikes this year, Fischer said that in his view four rate hikes ‘are in the ballpark’, although at the same time highlighted the concerns emanating out of China saying that there ‘are levels of uncertainty and they’ve risen a bit now’.”
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