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Forex Flash: Factory orders may have advanced by as much as 2.7% in Feb. - RBS
FXstreet.com (San Francisco) - The US census Bureau is scheduled to publish the Factory Orders report for February tomorrow Tuesday at 14 GMT (10am NY time). market expects the report to show a 2.9% jump in February after the 2.0% decline published in January.
The RBS analyst team agrees that the factory Orders will show a significant rebound in February, but they guess for a a smaller advance of the 2.7%. "In both December and January, most of the movement in factory orders was driven by swings in durable goods bookings," points the bank as they "expect this behavior continued into February, as durable goods orders surged while nondurable goods orders likely held essentially steady."
"As a result," concludes RBS, "overall factory orders may have advanced by as much as 2.7% in February."
