Mortgage rates increased slightly last week as equities experienced strong days mid and late week, with the Dow Jones Industrial Average breaking 20,000 on Wednesday. The Dow held above 20,000 though the rest of the week, pushing yields on mortgages higher.
Along with a busy week in terms of economic data, this week may be highlighted by political developments in the U.S. as the new administration continues to lay out its plans throughout the week. Monday’s a busy start to the week in the U.S., with the December personal income and spending reports, along with the PCE Core and Deflator readings. We also get Pending Home Sales and the Dallas Fed Manufacturing Survey. Tuesday also brings us a lot of international data.
Tuesday, in Japan, we’ll get employment indicators, housing starts, construction orders and industrial production data as well as the Bank of Japan policy meeting outcome. Then, in Europe, we’ll get CPI, PPI and Q4 GDP in France, and unemployment in Germany. On Tuesday, in the U.S., we’ll get the S&P/Case-Shiller house price index along with the Chicago PMI and consumer confidence. Turning to Wednesday, the early focus in Asia will be on China, with manufacturing and non-manufacturing PMI’s in January. Back home in the U.S. we’ll get the ADP Employment Change reading, ISM Manufacturing, Manufacturing PMI and Construction Spending. Later in the day, we’ll of course then get the FOMC rate decision.
Thursday we get Initial Jobless Claims and Unit Labor Costs. We end with a bang on Friday with the January employment report as well as final PMI’s, ISM Non-Manufacturing and Factory Orders Data.
Economic Calendar for the week of 01/30/2017 to 02/03/2017:
Monday:Personal Income, Personal Spending, PCE Deflator, PCE Core, Pending Home Sales, and Dallas Fed Manufacturing Activity
Tuesday:Employment Cost Index, Case Shiller Index, Chicago Purchasing Manager, and Consumer Confidence
Wednesday:ADP Employment Change, Markit US Manufacturing PMI, ISM, Prices Paid, ISM Manufacturing, Construction Spending, FOMC Rate Decision
Thursday:Initial Jobless Claims, Continuing Claims, Wholesale Inventories, New Home Sales
Friday:Unemployment Rate, Change in Nonfarm Payrolls, Average Hourly Earnings, Markit US Services PMI, Factory Orders, and Durable Goods Orders
Courtesy of Dean Mlinarich, Branch Manager Caliber Home Loans
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