US: Focus on manufacturing and housing data – TDS

Analysts at TD Securities suggest that the market is expecting the Richmond manufacturing index of the US to improve marginally in October to -7 following the sharp 10pt decline to -9 in September (10am ET).

Key Quotes

“This would largely mimic the improvement in the NY Empire survey, but stand in contrast with the decline in the Philly Fed index.”

“Separately, the consensus is looking for a modest -0.7% m/m retreat in existing home sales for September, following the nice 1.3% jump in the month before. All in, existing home sales are tracking a notable recovery so far in 2019.”