U.S. ECONOMICS: Next Week's Economic Calendar Focuses on Housing and Durable Goods
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 coming months.
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 Boeing ( BA ). 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.