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USD - Major events in the week ahead

Friday, Oct 23 2015

Events that marked the week:

On Tuesday Housing Starts and Building Permits figures were released. Construction started on new U.S. homes rose 6.5% to an annual rate of 1.21 million in September, according to government data released Tuesday. After two months of declines, the gain in September brings starts back close to June's level, which was an eight-year high. Starts for single-family homes rose 0.3% in September to an annual rate of 740,000, while starts in buildings with at least five units jumped 17% to a pace of 454,000. Economists had expected an overall September starts rate of 1.14 million.

The annual pace of permits for new construction, a sign of future demand, fell 5.0% in September to 1.10 million. The pace of permits for single-family homes fell 0.3% to an annual rate of 697000, while the pace of permits for apartments fell 14.6% to 369,000. Economists caution over reading too much into a single monthly home-construction report because the data are subject to substantial revisions.

 

Thursday brought Unemployment Claims figures. In the week ending October 17, the advance figure for seasonally adjusted initial claims was 259,000, an increase of 3,000 from the previous week's revised level. Analysts were anticipating incline to 266,000.The 4-week moving average was 263,250, a decrease of 2,000 from the previous week's revised average. This is the lowest level for this average since December 15, 1973 when it was 256,750. The previous week's average was revised up by 250 from 265,000 to 265,250. 

 

This week markets will be looking at:

 

New Home Sales (Monday 16:00)

Durable Goods Orders (Tuesday 14:30)

CB Consumer Confidence (Tuesday 16:00)

FOMC Statement/ Federal Funds Rate (Wednesday 20:00)

Unemployment Claims (Thursday 14:30)

Advance GDP (Thursday 14:30)

Pending Home Sales (Thursday 16:00)

Employment Cost Index (Friday 14:30)

Chicago PMI (Friday 15:15)

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