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The Census Bureau's July manufacturing shipments, inventories and orders report released September 2 showed new orders at a seasonally adjusted $663.616 billion, up 0.9% from June's $657.79 billion and above the 0.7% consensus, ending two months of declines with transportation equipment leading and nondurables also higher; June's drop was revised to 0.2%. Firmer hard data on capital-goods demand argues against a sharp industrial downturn and marginally reduces the case for front-loaded Fed easing, a mix that supports front-end UST yields and the dollar while trimming the liquidity tailwind that BTC and ETH have been trading on. The tension to watch is the divergence with softer August manufacturing sentiment surveys: if ISM and forward-looking orders gauges keep weakening, the July rebound reads as transport-driven noise and rate-cut pricing plus high-beta crypto and NASDAQ risk appetite can re-firm.
As a Macro signal, watch whether it changes price action, volatility, or flows around GSPC, BTC.
Original Source: 토큰포스트
This page is market information analysis, not investment advice.
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