Durable Goods Orders, Fundamental Analysis

These include large ticket items such as capital goods (machinery, plant and equipment), transportation and defense orders. They are extremely important in that they anticipate changes in production and thus, signal turns in the economic cycle.

But the large size of these items (aircrafts and civilian orders) means that they present equally large changes, which makes them extremely volatile. This also give rise to sizeable revisions in the subsequent periods once more complete data become available one week later.

Durable goods data are better used when omitting defense orders and transportation orders, while calculating a three-month moving average, and a year-to-year percent change.

ECONOMIC CALENDARS
DATE	TIME	COUNTRY	EVENT	FORECAST	PREVIOUS
07/21/08	3:15am	Switzerland	PPI m/m	0.4%	1.2%
07/21/08	4:45am	United Kingdom	BOE Governor King Speaks
	8:30am	Canada	Core Retail Sales m/m	0.8%	1.1%
	9:30pm	Australia	CPI q/q	1.2	1.3%
07/23/08	4:30am	United Kingdom	MPC Meeting Minutes	8-1 hld	8-1 hld
	7:00am	Canada	Core CPI m/m	0.2%	0.3%
	5:00pm	New Zealand	Monetary Policy Statement
	5:00pm	New Zealand	Official Cash Rate	8.25%	8.25%
07/24/08	4:00am	Eurozone	German Ifo Business Climate Index	100.2	101.3
	4:30am	United Kingdom	Retail Sales m/m	-2.5%	3.5%
	10:00am	United States	Existing Home Sales	4.93M	4.99M
07/25/08	4:30am	United Kingdom	Prelim GDP q/q	0.2%	0.3%
	8:30am	United States	Core Durable Goods Orders m/m	-0.2%	-0.9%
	10:00am	United States	New Home Sales	508K	512K

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