USD Weekly Outlook: The Top 10 USD related events Nov. 22-26

ForexNewsNow | Published on November 20, 2010 at 12:55 am

eur usd euro dollar realtime forex newsNEW YORK (Forex News Now) – The FNN team has prepared a list of the top 10 economic events most likely to impact USD  and make realtime forex news during the coming week, Nov. 22-26.

All times are given in GMT.

  1. Chicago Fed National Activity Index: Monday, 8:30 A.M. – The Federal Reserve Bank of Chicago will release its National Activity Index, which is a monthly index designed to gauge economic activity and inflationary pressures in the economy. Previously, the index came in at -0.58 in September, down from -0.49 in August.
  2. Gross Domestic Product Annualized: Tuesday, 8:30 A.M. – The U.S. Bureau of Economic Analysis will announce the annualized GDP figures for the U.S. economy. This figure is the most comprehensive measure of the strength of the economy as a whole and usually confirms or upsets economic expectations in the market when released.  Previous: 2.0%. Consensus Estimate: 2.4%
  3. Existing home sales MoM: Tuesday, 10:00 A.M. – The National Association of Realtors will release its existing home sales report for the Month of October. Previous: 10.0%. Consensus Estimate: -1.1%
  4. Durable goods orders for October: Wednesday, 8:30 A.M. – The U.S. Census Bureau will unveil the durable goods orders report for October at 8:30 A.M.  The report gauges the purchase of durable goods, which tend to cost more and thus represent a significant component of consumer spending combined with consumer confidence in the economy. Previous: 3.3%. Consensus Estimate: —
  5. Durable goods orders excluding transportation for October: Wednesday, 8:30 A.M. – This report smoothes some of the volatility with the overall durable goods orders report because it excludes transportation-related expenses. As such, it is the more closely watched of the two. Previous: 2.0%. Consensus Estimate: 2.4%
  6. Personal consumption expenditure core MoM: Wednesday, 8:30 A.M. – The Bureau of Economic Analysis will release the MoM figures for October for personal consumption expenditure core.  This removes volatile items, such as food and energy, to provide a less-volatile look at personal spending.
  7. Personal income: Wednesday, 8:30 A.M. – This broad gauge of employee earnings in the U.S. helps FX traders gauge the ability of the average person in the U.S. to spend. Consumer spending drives over 70% of the U.S. economy.
  8. Initial jobless claims: Wednesday, 8:30 A.M. – The U.S. Department of Labor will release its weekly initial jobless claims report, abbreviated this week due to the holiday. Accompanied by the report is the four-week moving average, which is more indicative of overall trends in unemployment.
  9. University of Michigan consumer sentiment index (USD): Wednesday, 9:55 A.M. – Released monthly by the University of Michigan, the CSI is a measure of consumer sentiment and is often viewed as a leading indicator of future economic performance in the U.S.  The preliminary reading for November stands at 69.3, up from October’s 67.7 rating.
  10. New home sales MoM: Wednesday, 10:00 A.M. – The National Association of Realtors will announce its new home sale figures for October. Raw sales figures are expected to increase slightly, to 310,000, up from September’s 307,000. Previous: 6.6%. Consensus Estimate: 1.0%

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