The Weakening Real Estate Market In The USA And More Speeches
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Another day with little stats. Our attention is focused on reports from America. There are no important reports in the first half of the day, only after midday Central European Time (CET) we can count on information. Today, the market can also count on speeches.
BCB Copom Meeting Minutes
At 13:00 CET there will be Minutes of the Monetary Policy Committee (Copom) meeting of the Central Bank of Brazil (BCB).
The meeting of the central bank representatives is an important event these days, as it provides information about monetary policy and its future. Such a meeting is important for the financial market also due to the outturn on the situation of the country's currency.
Speeches of head of banks
At 13:30 CET, a place will be found where the head of the Federal Reserve (Fed) and the European Central Bank (ECB) will speak.
Currently, the US (the US dollar, USD) currency is strong as opposed to the European currency (the euro, EUR). The speeches of the main bank representatives may affect the situation on the currency market on the market, therefore market participants will follow their comments.
Core Durable Goods Orders
The change in the total value of new orders for long lasting manufactured goods, excluding transportation items for August it is expected to drop from 0.3% to 0.2%. As shown by the data. From the beginning of the year, the index has been dropping successively. The sharp decline was due to geopolitical events as most countries and indicators in March. U.S. Core Durable Goods Orders MoM rebounded in April and will reach a peak of 1.1%, and fell in the following months. It is very possible to maintain a downward trend for this reading.
Source: investing.com
Other speeches
We can learn more about the activities of banks from the speeches of their members.
Today, and even in the afternoon, central bankers will speak. Luis De Guindos, Vice-President of the European Central Bank, will give a speech at 15:00 CET. More than half an hour later we are waiting for a speech from Great Britain, the Monetary Policy Committee (MPC) Member Pill will be speaking. The last speech of the day will be a member of the FOMC, James Bullard will be speaking at 15:55 CET.
Increase of CB Consumer Confidence
The level of consumer confidence in economic activity is important for the economy. Experts expect an increase this month to 104.5 from 103.2. It is a leading indicator as it can predict consumer spending, which plays a major role in overall economic activity. Higher readings point to higher consumer optimism. Although this level was low during the summer holidays, the data will show that in August there was an increase and it is possible to continue this trend .
Source: investing.com
New Home Sales
The annualized number of new single-family homes that were sold during the previous month is an important indicator for the real estate market. The data will show that the number of new family homes sold has been gradually falling from month to month. Forecasts for the month of August show another decline from 511K to 500K.
This indicator shows the continued weakening of the real estate market. This weakening is largely the result of rising inflation and thus rising interest rates.
Summary
- 13:00 CET BCB Copom Meeting Minutes
- 13:30 CET Fed Chair Powell Speaks
- 13:30 CET ECB President Lagarde Speaks
- 14:30 CET Core Durable Goods Orders (MoM) (Aug)
- 15:00 CET ECB's De Guindos Speaks
- 15:35 CET BoE MPC Member Pill Speaks
- 15:55 CET FOMC Member Bullard Speaks
- 16:00 CET CB Consumer Confidence (Sep)
- 16:00 CET New Home Sales (Aug)
Source: https://www.investing.com/economic-calendar/
