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Despite a pretty busy economic calendar, it looks like U.S. traders were already checked out for the holidays as uniform U.S. dollar price action and volatility was few and far between this week.
United States Headlines and Economic data
Monday:
- Empire State Manufacturing survey held steady at 3.5
- U.S. Business activity growth accelerates to five-month high at 52.2
- Builder confidence in the market for newly-built single-family homes increased five points to 76 in December: NAHB
- Kudlow: U.S.-China deal ‘absolutely’ done, U.S. exports to China will double
Tuesday:
- US housing starts rise more than expected, with permits at a 12-1/2-year high
- China to grant regular tariff waivers for U.S. farm imports
- US manufacturing production rose more than expected in November
- JOLTS: The number of job openings edged up to 7.3 million (+235,000) on the last business day of October
- More Fed officials see little need to change interest rates anytime soon
Wednesday:
- Fannie Mae boosts 2020 housing forecast ‘significantly’
- Weekly US mortgage applications drop 5% as rates flatten
- Fed’s Williams says repo operations working well and should stay in place ‘just as long’ as needed
- U.S. economy on good path with rates on hold, Fed policymakers say
- Fed’s Evans says he is comfortable with one rate hike in 2021, 2022
Thursday:
- President Donald Trump impeached by US House, 3rd in history
- Philadelphia Fed manufacturing index slumps in December to lowest reading in six months
- US Current Account Deficit Narrowed Slightly in 3Q
- U.S. Existing home sales drop 1.7% in November, vs expected drop of 0.4%
- U.S. weekly jobless claims fall; mid-Atlantic factory activity almost stalls
- The Conference Board Leading Economic Index for the U.S. was unchanged in November
Friday:sU.S. House voted to approve new USMCA, Senate to vote next
- US third-quarter economic growth unrevised at 2.1%
- The PCE price index increased 0.2 percent. Excluding food and energy, the PCE price index increased 0.1 percent.
- Personal income increased +0.5% in Nov. according to estimates released today by the Bureau of Economic Analysis; personal consumption expenditures (PCE) increased +0.4%
- UMich consumer sentiment rises in December to highest level in seven months