by Risk calculated on 03/18/2023 08:11:00
The main reports this week are new and existing home sales in February.
The FOMC is meeting this week, and there is some uncertainty over rate hikes due to recent banking issues.
—– Monday, March 20 —–
No major economic releases planned.
—– Tuesday, March 21 —–
10:00 AM: Sales of existing houses for February from the National Association of Realtors (NAR). The consensus is 4.15 million SAAR, down from 4.00 million.
The chart shows existing home sales from 1994 to last month’s report.
—– Wednesday, March 22 —–
7:00 a.m. ET: The Mortgage Bankers Association (MBA) will release the results of the index of requests for the purchase of real estate loans.
During the day: The AIA’s Architecture Billing Index for February (a leading indicator for commercial real estate).
2 p.m.: FOMC Meeting Announcement. The FOMC is expected to raise the federal funds rate by 25 basis points at this meeting, although there is some uncertainty due to banking issues.
2 p.m.: FOMC projections. This will include projections from Federal Open Market Committee (FOMC) participants regarding the appropriate target federal funds rate as well as updated economic projections.
2:30 p.m.: Fed Chairman Jerome Powell organizes a press conference following the announcement of the FOMC.
—– Thursday, March 23 —–
8:30 a.m.: The initial weekly unemployment claims report will be published. The consensus is 190,000 initial complaints, down from 192,000 last week.
8:30 a.m. ET: Chicago Fed National Activity Index for February. It is a composite index of other data.
10:00 AM: Sales of new homes for February from the Census Bureau.
This graph shows new home sales since 1963. The dotted line represents the sales rate for the last month.
The consensus is 650,000 SAAR, down from 670,000 in January.
11 a.m.: the Kansas City Fed Manufacturing Survey for March.
—– Friday, March 24 —–
8:30 a.m.: Durable Goods Orders for February from the Census Bureau. The consensus is for a 1.2% increase in durable goods orders.
10:00 AM: State employment and unemployment (monthly)February 2023