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Schedule for Week of July 20th

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The key reports this week are New and Existing home sales for June.

For manufacturing, the July Richmond and Kansas City Fed surveys will be released.

For prices, CPI will be released on Tuesday.

—– Monday, July 21st —–

8:30 AM ET: Chicago Fed National Activity Index for June. This is a composite index of other data.

—– Tuesday, July 22nd —–

8:30 AM: Consumer Price Index for June. The consensus is for a 0.3% increase in CPI in June and for core CPI to increase 0.2%.

9:00 AM: FHFA House Price Index for May. This was original a GSE only repeat sales, however there is also an expanded index. The consensus is for a 0.3% increase.

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

The consensus is for sales of 4.99 million on seasonally adjusted annual rate (SAAR) basis. Sales in May were at a 4.89 million SAAR. Economist Tom Lawler estimates the NAR will report sales of 4.96 million SAAR.

A key will be the reported year-over-year increase in inventory of homes for sale.

10:00 AM: Richmond Fed Survey of Manufacturing Activity for July.  The consensus is for a reading of 5.5, up from 3 in June.

—– Wednesday, July 23rd—–

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

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

—– Thursday, July 24th —–

8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for claims to increase to 310 thousand from 302 thousand.

New Home Sales10:00 AM: New Home Sales for June from the Census Bureau.

This graph shows New Home Sales since 1963. The dashed line is the May sales rate.

The consensus is for a decrease in sales to 475 thousand Seasonally Adjusted Annual Rate (SAAR) in June from 504 thousand in May.

11:00 AM: the Kansas City Fed manufacturing survey for July.

—– Friday, July 25th —–

8:30 AM: Durable Goods Orders for June from the Census Bureau. The consensus is for a 0.2% increase in durable goods orders.
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