US Factory orders dropped -3.3% MoM in July vs -3.2% exp. and -0.5% previously
- US Durable Goods came in -6.7% MoM vs -6.6% exp. and -6.6% previously
- Also, US Core Durable Goods were revised lower to 0.4% MoM vs 0.5% exp. and 0.5% in June
Citi forecasts 125 bps in Fed cuts this year after jobs data, 50 bps each in September & December. Goldman Sachs analysts added a third quarter-point Fed cut to their 2024 forecast.
Daily summary: Wall Street tries to stop the sell-off 📌Gold down 1.8%, Bitcoin loses 4.5%
BREAKING: Canadian Wholesale & Manufacturing Sales higher than expected 📊USDCAD reacts
BREAKING: EU GDP data slightly above expectations! 📈💶
DE40: European markets extend decline