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Durable goods orders for the month of March 2024 • Prior month 1.3% (revised). Revised even lower to 0.7% • nondefense capital goods orders ex air 0.2% vs 0.2% expected. • Prior nondefense capital goods orders ex-air 0.7% revised to 0.4% • Ex transportation 0.2% versus 0.3% expected. Prior month revised to 0.1% from 0.3% • Ex-Defense 2.3% versus 1.5% ...
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post: ECB'S NAGEL: WE ARE NOT FULLY CONVINCED THAT INFLATION WILL ACTUALLY RETURN TO THE TARGET IN A TIMELY AND SUSTAINED MANNER. post: ECB'S NAGEL: A JUNE RATE CUT IS NOT NECESSARILY FOLLOWED BY A SERIES OF RATE CUTS post: ECB'S NAGEL: SERVICES INFLATION REMAINS HIGH AND DRIVEN BY CONTINUED STRONG WAGE GROWTH. post: ECB'S NAGEL: WE CANNOT PRE-COMMIT TO A PARTICULAR RATE PATH. post: ECB'S NAGEL: IN FAVOUR OF A JUNE RATE CUT IF DATA SHOWS A RETURN TO 2%
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