Jun 26
Economists say the higher-than-expected initial jobless
claims reading for the week ending June 21 and four-year high
reached in continuing claims illustrates the continued deterioration of
the U.S. labour market.
Jun 26
U.S. existing home sales rose to 4.99 million units
in May, or 2.0%, following April’s unrevised sales figure of 4.89
million. This is the third month that home sales have remained under the
5 million mark.
Jun 26
Soaring world oil prices will drive the cost of gasoline in the U.S.
into the stratosphere over the next two years, forcing many
Americans off the road and drastically altering the driving
habits of millions more, according to a report released Thursday by CIBC
World Markets.
Jun 25
Jun 25
The pause was widely anticipated by financial markets, which were focused more on the language of the announcement to see what degree of concern the Fed has over rising inflation versus a struggling economy.
Jun 25
The Federal Reserve announced Wednesday that it would hold the
Fed funds target rate at 2.00%, as was widely expected.
The accompanying statement was balanced between a concern for slowing
growth and rising uncertainty in inflation.
Jun 25
Weekly mortgage applications in the United States
fell further in the week ending June 20, according to data from the
Mortgage Bankers’ Association (MBA) on Wednesday, which reported that
applications fell by 9.3% week-over-week.
Jun 25
Durable goods excluding transportation fell by 0.9%
in May in the U.S. durable goods report on Wednesday, according to the
Department of Commerce. Economists were expecting a 1.0% monthly decline
following April’s downwardly revised 1.9% increase.
Jun 25
U.S. durable goods orders, new home sales, and the
Department of Energy’s weekly oil inventories are the highlights of the
early morning’s events, but all data of the day will be eclipsed by the
FOMC’s rate decision at 2:15 p.m. EDT.
Jun 25
Fixed-rate mortgage
interest increased again during the week ended June 19 according to
results from the Primary Mortgage Market Survey released by Freddie
Mac.
Jun 25
After five months of declines in the pace of new home
sales, April’s uptick appears to have been temporary as new home
sales in the U.S. continued to fall back 2.5% down in May, declining to
512k, in line with expectations from economists.
Jun 25
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Jun 24
The S&P/Case Shiller house price index, data from the
OFHEO and the Richmond Fed’s manufacturing report will highlight the U.S.
economic releases as Canadian markets receive employment insurance data
and comments from Finance Minister Jim Flaherty.
Jun 24
The S&P Case-Shiller home price index continued to
deteriorate in April as the 20-city composite index posted a record
annual decline of 15.3%. The Case-Shiller index has
fallen every month since peaking in July 2006.
Jun 24
In an interview with a Mexican television station, U.S. Treasury
Secretary Henry Paulson said the biggest challenge
facing the U.S. economy is an ailing housing sector,
which he hopes will recover by the end of the year.
Jun 24
Speaking via satellite to a conference in Johannesburg, Former Fed
Chairman Alan Greenspan said the financial market crisis
will continue for some time, and could last well into
2009.
Jun 24
Not a single contrarian voice exists among the 101 economists surveyed
by Bloomberg for Wednesday’s U.S. rate announcement from the Federal Open
Market Committee. All agree that the Fed will hold rates at 2.00%
, which means the focus will turn towards the accompanying
statement to look for insight as to whether the Fed is thinking of hiking
rates later this year, economists say.
Jun 24
U.S. house prices fell 0.8% month-over-month in April
following March’s revised 0.6% decline, the Office of Federal Housing
Enterprise Oversight (OFHEO) reported Tuesday.
Jun 24
The Conference Board’s consumer confidence index for
June tumbled to levels not seen since 1992 at 50.4 in Tuesday’s report,
led by a near 10-point decline in the present situation component.
Economists were looking for a moderate decline to 56.0.