The US new-home sales for the month of October will be released at 10 AM ET with expectations of an annualized rate of 0.723M vs 0.759M last month. Recall that existing home sales last week came in at 3.79M which was well below the 3.90M pace expected and 3.95M in September. The sales pace was the lowest level in 13 years (since 2010).
Other major economic releases and events this week include:
Tuesday
- US conference Board consumer confidence (10 AM ET). Estimate 101.0 versus 102.6 last month
Wednesday
- Australia's CPI YoY expected 5.2% versus 5.6% last month (7:30 PM ET)
- Reserve Bank of New Zealand interest rate decision. No change expected. (8 PM ET)
- Preliminary Germany CPI (all day)
- Preliminary GDP 3Q. 5.0% versus 4.9%. This is the 2nd release of the 3Q GDP
Thursday
- China manufacturing PMI index 49.6 versus 49.5 last month (8:30 PM ET)
- EU CPI flash estimate. 2.7% versus 2.9% last month (5 AM ET)
- OPEC=JMMC meeting
- US core PCE price index. 0.2% versus 0.3% expected (8:30 AM ET)
- US initial jobless claims 219K vs 209K last week (8:30 AM ET)
Friday
- Canada employment statistics. Unemployment change 18.5 K versus 17.5 K last month. Unemployment rate 5.7% versus 5.7% last month. (8:30 AM ET)
- US ISM manufacturing PMI. Estimate 47.7 versus 46.7 last month (10 AM ET). ISM manufacturing prices are expected at 46.2 versus 44.1 last month
- Fed Chair Powell speaks (11 AM ET)
