Existing Home Sales at an annual rate of 5.52 million

Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, decreased 1.8 percent to a seasonally adjusted annual rate of 5.52 million in June from 5.62 million in May. Despite last month's decline, June's sales pace is 0.7 percent above a year ago, but is the second lowest of 2017 (February, 5.47 million).

USD - Major events in the week ahead

Events that marked the week:

On Monday Empire State Manufacturing Index data was published. Business activity grew modestly in New York State, according to firms responding to the July 2017 Empire State Manufacturing Survey. The headline general business conditions index fell ten points to 9.8. The new orders index moved down to 13.3, and the shipments index fell to 10.5, suggesting that orders and shipments continued to grow, though at a somewhat slower pace than in June. Delivery times continued to lengthen, and inventory levels were fairly steady.

Unemployment Claims decreased to 233,000

The lowest level of filings for U.S. unemployment benefits in about two months may reflect growing demand for workers in a tight job market, Labor Department figures showed Thursday. Jobless claims decreased by 15k to 233k (forecast was 245k); level in February was lowest since early 1970s. Continuing claims increased by 28k to 1.98m in week ended July 8 (data reported with one-week lag). Four-week average of initial claims, a less-volatile measure than the weekly figure, fell to 243.8k from 246k in prior week.

Building Permits at an annual rate of 1.25 million

Privately-owned housing units authorized by building permits in June were at a seasonally adjusted annual rate of 1,254,000. This is 7.4 percent above the revised May rate of 1,168,000 and is 5.1 percent above the June 2016 rate of 1,193,000. Single-family authorizations in June were at a rate of 811,000; this is 4.1 percent above the revised May figure of 779,000. Authorizations of units in buildings with five units or more were at a rate of 409,000 in June.