The forecast may suggest weaker-than-expected computer monitor demand.

It's weaker than expected due to the decline of inventories, but final demand is quite strong. Basically, it's a strong report despite the weak headline number. Consumption and all domestic demand is firm. Exports are also strong, showing that demand is quite balanced.

I expected the spending forecast to be more buoyant. But it could be the case that NRF is curbing their enthusiasm a little now,

This is disappointing. It sounds like a combination of both weaker demand for PCs and the continuing impact of some of these inventory excesses hurt them. All in all, it's a pessimistic near-term outlook.

While we have expected weaker trends in orders, we were surprised by the magnitude of the 20% decline in the quarter given the significant community growth.

The dollar's bearish (weaker) trend is expected to continue unless the GDP figures are significantly stronger (than exported) or the market finds strong signals for further rate hikes in the Fed statement.