Weekly Schedule

The key reports this week are July Housing Starts on Tuesday and Existing Home Sales on Thursday.

For manufacturing, the August Philly Fed survey will be released on Thursday.

For prices, July CPI will be released on Tuesday.

The key focus of the week will probably be on Fed Chair Janet Yellen's speech at Jackson Hole on Friday.

----- Monday, August 18th -----

10:00 AM: The August NAHB homebuilder survey. The consensus is for a reading of 53, unchanged from 53 in July.  Any number above 50 indicates that more builders view sales conditions as good than poor.

10:00 AM: Regional and State Employment and Unemployment (Monthly) for July 2014

----- Tuesday, August 19th -----

8:30 AM: Consumer Price Index for July. The consensus is for a 0.1% increase in CPI in July and for core CPI to increase 0.2%.

Total Housing Starts and Single Family Housing Starts8:30 AM: Housing Starts for July.

Total housing starts were at 893 thousand (SAAR) in June. Single family starts were at 575 thousand SAAR in June.

The consensus is for total housing starts to increase to 963 thousand (SAAR) in July.

----- Wednesday, August 20th -----

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

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

2:00 PM: FOMC Minutes for the Meeting of July 29-30, 2014.

----- Thursday, August 21st -----

8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for claims to decrease to 305 thousand from 311 thousand.

10:00 AM: the Philly Fed manufacturing survey for August. The consensus is for a reading of 18.5, down from 23.9 last month (above zero indicates expansion).

Existing Home Sales10:00 AM: Existing Home Sales for July from the National Association of Realtors (NAR).

The consensus is for sales of 5.00 million on seasonally adjusted annual rate (SAAR) basis. Sales in June were at a 5.04 million SAAR. Economist Tom Lawler estimates the NAR will report sales of 5.09 million SAAR.

A key will be the reported year-over-year increase in inventory of homes for sale.

----- Friday, August 22nd -----

10:00 AM: Speech by Fed Chair Janet Yellen, Labor Markets, At the Federal Reserve Bank of Kansas City Economic Symposium: Re-Evaluating Labor Market Dynamics, Jackson Hole, Wyoming

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