Durables solid on the core despite the headline miss
Focus more on further earnings this week and then especially the Fed
USD proving reluctant to cede ground on defensiveness into the latter
Durable good below market on the headline (0.3% vs mkt 2.5) though non-def cap ex-air remains robust at 0.9% (mkt 0.8%) reflecting the underlying momentum there.
Data doesn’t really add much to the current picture. More immediately key perhaps will be some of the big earnings from some of the majors due in the next few days including Microsoft and Meta, the key Fed meeting, as well of course as monitoring progress on the current Iran ‘timeout’.
Indeed, the dollar is proving reluctant to give too much ground as the market remains defensively skewed into the Fed meeting.