Daily digest market movers: US data comes in mixed, Canadian Dollar follows suit
- US Durable Goods Orders contracted in May, clocking in -0.1% MoM versus the forecast 0.2%, falling further than expected from the previous 0.4%.
- US Q1 GDP came in exactly as expected with first-quarter GDP slightly revised to 1.4% from the initial print of 1.3%.
- US Initial Jobless Claims beat expectations with 233K net new jobless benefits seekers for the week ended June 21. Median market forecasts had expected a print of 236K compared to the previous week’s 238K.
- US Core Personal Consumption Expenditures, a preview of Friday’s PCE Price Index, ticked upwards to 3.7% in the first quarter versus the expected hold at 3.6%.
- Friday’s Canadian MoM GDP in May is expected to rebound to 0.3% from the previous flat print.
- US core PCE Price Index inflation is expected to ease to 0.1% in May from the previous 0.2%.
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