Although the Thanksgiving holiday will likely slow trading
activity, there is still enough key economic data due out
throughout next week for traders to sink their teeth into and
provide some additional clues to how the Fed might act over the
The financial markets will begin to get a clearer picture of
just how the government shutdown and debt ceiling struggle impacted
consumer confidence with the Conference Board's Consumer Confidence
Index on Tuesday. According to a weekly report from the National
Bank of Canada (NB.TO), it will reflect a similar decline in
consumer confidence as shown in the Univ of MI survey.
Regarding the housing market, National Bank expects Tuesday's
housing starts data to come in nearly unchanged at a 920,000 pace.
Besides starts and permits, other housing data due that may come
out next week include pending home sales on Monday, and the FHFA
home price index on Tuesday.
Finally, National Bank is looking for a 2.0% drop in durable
goods orders for October on Wednesday, reflecting weak orders from
). Excluding transportation orders, durable goods should be
unchanged, it says.
Although there are no Fed officials scheduled to speak next
week, their respective banks pick up the slack with regional
reports coming from the Dallas, Richmond and Chicago Fed.
U.S. stock markets are closed on Thursday November 28th and at
1:00pm on Friday, November 29th.
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