The calendar is thin today. The most interesting release is US pending home sales, which might show a minor decline following last month's 6.7% m/m surge, but this should not alter the perception of a US housing market that has gathered momentum.
The market is likely to begin to focus on upcoming events with the rest of this week being far more action packed. Kick-off is on Wednesday with the first release of US Q2 GDP, which is likely to show temporary weakness. In the evening the FOMC meeting takes centre stage. The statement may not contain many surprises but will be scrutinised for any new information regarding the exact timing of QE tapering. Thursday's final PMIs as well as monetary policy meetings in the UK and the euro area could fuel more action. What does Carney have up his sleeve? In Frankfurt Mario Draghi remains alert but is unlikely to offer anything but a dovish tone at this month's meeting. Finally, non-farm payrolls on Friday will be watched closely for indications on whether Fed might begin QE tapering in September.
To Read the Entire Report Please Click on the pdf File Below.
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Danske Daily: US Home Sales Expected To Show Minor Decline
Published 07/29/2013, 02:19 AM
Updated 05/14/2017, 06:45 AM
Danske Daily: US Home Sales Expected To Show Minor Decline
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