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A busy day ahead U.S investors
Written by article default Thursday, 23 September 2010 06:51
This week carried some important data released by the U.S economy such as Housing start, building permits and the Federal Open Market Committee rate decision meeting, and it contiues today with the release of the weekly jobs report in addition to the Existing home sales regarding August.The number of initial applicants for jobless claims during the week ending ion September 18th is expected to remain unchanged from the prior number of 450 thousand, on the other hand Continuous claims for the week ending September 11th are expected to fall from 4485 thousand and reach 4473 thousand.
We clearly see that unemployment is a problem the U.S economy must find a way around it to reach prosperity as unemployment is expected to remain at its crucially high rate for the next year in the best case scenario.
Afterwards the U.S economy will release its Existing Home Sales Figure regarding August, where the figure is expected to rise by 7.1% or 4.1 Million units, compared to the prior fall of 27.2% or 3.83 Million units, noting that yesterdays housing starts and building permits report came in better than expected.
The U.S housing sector suffered a major hit from the expiry of the tax cuts program for first time home buyers last April, yet August repots regarding the housing sector show that there is a possibility the housing sector have overcome the program expiry.
Last but not least, Leading Indicators index "which gives three months future outlook regarding economic conditions" is due to release during today's session, where the index is expected to remain unchanged with outlook unchanged, as the Federal Reserve said that recovery will take moderate paces.