US April durable goods 0.4% vs. 0.6% expected

• Durable goods orders 0.4% vs. 0.6% expected. Prior month revised to 0.6% from 1.1%
• nondefense Cap Ex Air 0.3% vs. 0.5% expected. Prior month revised to 1.1% from 1.3%
• Ex Defense 0.3% vs. 1.0% expected. Prior month revised to 1.2% from 1.4%
• Ex transportation 0.3% vs. 0.6% expected. Prior month revised to 1.2% from 1.4%
• durable goods are still up 6 the last 7 months
• shipments of manufactured durable goods in April increase by 0.1%. It is the 11th increase in at 12 months. In March shipments increased by 1.4%
• unfilled orders rose for the 20th consecutive month. Increase by 0.5% followed by a 0.5% increase in March. Transportation equipment rose for the 14th of 15th month and led the increase by 0.7%

Overall numbers are worse than expected across the board with revisions also lower.

The expectations for a 50 basis point hike by the Federal Reserve Federal Reserve The Federal Reserve System, more commonly known as the Fed, represents the central banking system of the United States. Like other central banks globally, the Fed is responsible for monetary policy, in this case in the US.The Fed is one of the most watched and followed entities for forex traders, given its material impact on the US dollar. Founded initially in 1913, the Fed was created to perform a wide range of functions. This includes stabilizing and maintaining flexible monetary policy in the The Federal Reserve System, more commonly known as the Fed, represents the central banking system of the United States. Like other central banks globally, the Fed is responsible for monetary policy, in this case in the US.The Fed is one of the most watched and followed entities for forex traders, given its material impact on the US dollar. Founded initially in 1913, the Fed was created to perform a wide range of functions. This includes stabilizing and maintaining flexible monetary policy in the Read this Term at the next 2 meetings has moved below 100%, but is still centered around 95%. However in September, the expectations for 50 basis point cut has been slashed to around 30% as traders take away some of the hike expectations due to the weaker than expected data seen recently (and stock/housing price declines/inflation increases).

According to CNBC, the terminal rate for rates is expected to peak at 2.92% in July 2023. That is down around 50 basis points from its peak.