Saturday, March 17, 2018

Schedule for Week of Mar 18, 2018

by Bill McBride on 3/17/2018 08:11:00 AM

The key economic reports this week are February new home sales and existing home sales.

The FOMC meets this week and is expected to announce a 25bps increase in the Fed Funds rate.

----- Monday, Mar 19th -----

No major economic releases scheduled.

----- Tuesday, Mar 20th -----

No major economic releases scheduled.

----- Wednesday, Mar 21st -----

7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

Existing Home Sales10:00 AM: Existing Home Sales for February from the National Association of Realtors (NAR). The consensus is for 5.42 million SAAR, up from 5.38 million in January.

The graph shows existing home sales from 1994 through the report last month.

Housing economist Tom Lawler will probably release his estimate on Monday. His preliminary estimate is 5.43 million SAAR for February.

During the day: The AIA's Architecture Billings Index for February (a leading indicator for commercial real estate).

2:00 PM: FOMC Meeting Announcement. The FOMC is expected to increase the Fed Funds rate 25 bps at this meeting.

2:00 PM: FOMC Forecasts This will include the Federal Open Market Committee (FOMC) participants' projections of the appropriate target federal funds rate along with the quarterly economic projections.

2:30 PM: Fed Chair Jerome Powell holds a press briefing following the FOMC announcement.

----- Thursday, Mar 22nd -----

8:30 AM ET: The initial weekly unemployment claims report will be released.  The consensus is for 225 thousand initial claims, up from 226 thousand the previous week.

9:00 AM: FHFA House Price Index for January 2018. This was originally a GSE only repeat sales, however there is also an expanded index.

11:00 AM: the Kansas City Fed manufacturing survey for March.

----- Friday, Mar 23rd -----

8:30 ET AM: Durable Goods Orders for February from the Census Bureau. The consensus is for a 0.1.72% increase in durable goods orders.

New Home Sales10:00 AM: New Home Sales for February from the Census Bureau.

This graph shows New Home Sales since 1963. The dashed line is the January sales rate.

The consensus is for 626 thousand SAAR, up from 593 thousand in January.

10:00 AM: State Employment and Unemployment (Monthly) for February 2018