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29 Dec 2014
US Preview: Key Data in the Week Ahead
FXStreet (Mumbai) - The US economic data releases are expected to remain light over this week amid year-end holidays making way for a smooth entry into 2015.
The release schedule will pick up on Tuesday with the consumer confidence index from the Conference Board. The gauge is expected to rebound to 94.0 points in December from 88.7 in the previous month essentially matching the cyclical peak seen at the beginning of the fourth quarter.
The S&P/Case Shiller October house prices will also be released on Tuesday. Markets are expecting a further moderation in the y/y pace of appreciation to 4.3% in October from September's 4.9% compared to the around 12% average gain in 2013.
Wednesday will see a series of releases with the Department of Labour’s weekly update on jobless claims kicking things, followed by Chicago business barometer, pending home sales.
The Chicago PMI is expected to moderate slightly to 60.0 in December from November's 60.8 points, while, the pending home sales index for November is expected to show a 0.5% rebound in the gauge.
Meanwhile, crude oil inventories as well as natural gas storage data from Energy Information Administration (EIA) will also be scheduled for release on Wednesday.
ISM's nation manufacturing index will be the second headliner of the week released on Friday. The December print is expected at 57.5 points, down from November's 58.7, which are still levels near the post-recovery highs.
Finally, the government will release its November construction spending figures on Friday as well with traders’ expecting a 0.4% increase following October's 1.1% gain.
The release schedule will pick up on Tuesday with the consumer confidence index from the Conference Board. The gauge is expected to rebound to 94.0 points in December from 88.7 in the previous month essentially matching the cyclical peak seen at the beginning of the fourth quarter.
The S&P/Case Shiller October house prices will also be released on Tuesday. Markets are expecting a further moderation in the y/y pace of appreciation to 4.3% in October from September's 4.9% compared to the around 12% average gain in 2013.
Wednesday will see a series of releases with the Department of Labour’s weekly update on jobless claims kicking things, followed by Chicago business barometer, pending home sales.
The Chicago PMI is expected to moderate slightly to 60.0 in December from November's 60.8 points, while, the pending home sales index for November is expected to show a 0.5% rebound in the gauge.
Meanwhile, crude oil inventories as well as natural gas storage data from Energy Information Administration (EIA) will also be scheduled for release on Wednesday.
ISM's nation manufacturing index will be the second headliner of the week released on Friday. The December print is expected at 57.5 points, down from November's 58.7, which are still levels near the post-recovery highs.
Finally, the government will release its November construction spending figures on Friday as well with traders’ expecting a 0.4% increase following October's 1.1% gain.