Some Canadian and US home sales data
The US partial government shutdown in now into day 32 and that means the US economic calendar will continue to be void of data. However, we do have Canada and there are also some US statistics that are eitther from private sources or from agencies of the US that are not furloughed.
Today we are scheduled to get:
- Canada wholesale trade sales for November will be released at 8:30 AM ET, 1330 GMT. They are expected to fall by -0.3% versus 1.0% last month
- Canada manufacturing sales for November will be released at 8:30 AM/1330 GMT. They are expected to fall by -1.0% versus -0.1% last month
- US existing home sales for December will be released at 10 AM ET/1500 GMT. Expectations are for a annualized rate of 5.24 million versus 5.32 million last month. month-to-month increase is expected to fall -1.5% versus +1.9% last month.
The Davos economic summits has started. Various global leaders are skipping the meeting due to various circumstances including Pres. Trump, Prime Minister May, France's Macron and China's Xi.
Ray Dalio of Bridgewater is speaking from Davos on CNBC saying:
- rates shouldn't rise, doing so will be a problem
- central-bank ability to stimulate is limited
- significant risk of recession in 2020
- need to reengineer capitalism in productive way
- economies will be slowing around globe
