Forex Investment and Currency Trading

Date,  ET  

Indicator  

Comment  

Mar 24

10:00

Mar 26

10:00

Existing Home Sales

(February)

New Home Sales

(February)

Sales of previously-owned homes likely fell again due to tightening credit conditions, falling employment and softening prices. New home sales likely posted a small increase as buyers took advantage of the fall in new home prices and the dip in mortgage rates.

Mar 25

10:00

Consumer Confidence

(March)

The weakening labor market, tighter credit standards, rising delinquencies and softening asset values and financial market turbulence likely pushed consumer confidence down again.

Mar 26

8:30

Durable Goods Orders

(February)

The headline orders number is expected to be up as Boeing aircraft orders rose sharply. However, the latest Federal Reserve Beige Book notes that manufacturing activity has turned sluggish. This suggests that businesses are trimming capital spending plans and, therefore, pulling back on orders.

Mar 27

8:30

GDP

GDP Price Index

(Q4 final)

Fourth quarter real GDP growth was reported to be an annualized 0.6% in the preliminary report, an unchanged reading from the advance report. We expect another unchanged growth reading in the final report as upward revisions to trade and inventories are offset by a downward revision to construction. The current economic slowdown, which originated in the steep housing correction and the ensuing financial market turmoil, is expected to continue through 2009.

Mar 28

8:30

Personal Income

Consumer Spending

Core PCE Deflator

(February)

With a moderate gain in average hourly earnings offsetting a small decline in hours worked, personal income likely rose at a modest pace in February. The disappointing retail sales report suggests that consumption spending will be soft. We expect only 0.9% annualized growth in real consumption spending in the first quarter. The unchanged reading on core CPI implies no change in the core PCE deflator.