020 7898 0500Harley-Davidson announced it is planning to move some of its production out of the US following Europe’s new tariffs on motorcycle imports. The tariffs, which came into effect yesterday, add $2,200 to the average price of a bike exported from the US to Europe and the shift of production is designed to avoid the additional costs.
New home sales in the US jumped by 6.7% in May from an upwardly revised 3.7% drop in April. It is the highest figure since November and easily beat expectations of a 0.7% increase. Still, trade war fears sent the dollar tumbling against a basket of currencies and we could yet see further losses throughout the week.
Today is fairly quiet, but we will see consumer confidence for June and tomorrow we will see the durable goods orders for May. Last time around, they slumped by 1.7% month-over-month.
