Saturday, September 14, 2013

Schedule for Week of September 15th

The key event this week will be the FOMC statement and press conference on Wednesday. It is possible that the FOMC will start to reduce the monthly purchases of assets.  I'll post a preview soon.

There are three key housing reports that will be released this week, housing starts on Wednesday, homebuilder confidence survey on Tuesday, and existing home sales on Thursday.

For manufacturing, August Industrial Production, and the NY Fed (Empire State) and Philly Fed September surveys will be released this week.   For prices, CPI will be released on Tuesday.

----- Monday, September 16th -----

8:30 AM: NY Fed Empire Manufacturing Survey for September. The consensus is for a reading of 9.0, up from 8.2 in August (above zero is expansion).

Industrial Production9:15 AM: The Fed will release Industrial Production and Capacity Utilization for August.

This graph shows industrial production since 1967.

The consensus is for a 0.5% increase in Industrial Production, and for Capacity Utilization to increase to 77.9%.

----- Tuesday, September 17th -----

8:30 AM: Consumer Price Index for August. The consensus is for a 0.1% increase in CPI in August and for core CPI to increase 0.2%.

10:00 AM ET: The September NAHB homebuilder survey. The consensus is for a reading of 59, the same as in August. Any number above 50 indicates that more builders view sales conditions as good than poor.

----- Wednesday, September 18th -----

7:00 AM: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

Total Housing Starts and Single Family Housing Starts8:30 AM: Housing Starts for August.

Total housing starts were at 896 thousand (SAAR) in July. Single family starts were at 591 thousand SAAR in July.

The consensus is for total housing starts to increase to 915 thousand (SAAR) in August.

During the day: The AIA's Architecture Billings Index for August (a leading indicator for commercial real estate).

2:00 PM: FOMC Meeting Announcement.  It is possible the FOMC will start to reduce QE purchases following this meeting.

2:00 PM: FOMC Forecasts This will include the Federal Open Market Committee (FOMC) participants' projections of the appropriate target federal funds rate along with the quarterly economic projections.

2:30 PM: Fed Chairman Ben Bernanke holds a press briefing following the FOMC announcement.

----- Thursday, September 19th -----

8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for claims to increase to 341 thousand from 292 thousand last week.

Existing Home Sales10:00 AM: Existing Home Sales for August from the National Association of Realtors (NAR).

The consensus is for sales of 5.25 million on seasonally adjusted annual rate (SAAR) basis. Sales in July were at a 5.39 million SAAR.

A key will be inventory and months-of-supply.

10:00 AM: the Philly Fed manufacturing survey for September. The consensus is for a reading of 10.0, up from 9.3 last month (above zero indicates expansion).

----- Friday, September 20th -----

10:00 AM: Regional and State Employment and Unemployment (Monthly) for August 2013

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