http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/http://www.fxstreet.com/fundamental/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-09-26.htmlConsumer confidence (Sep): modest increase after plunge in August Durable goods orders (Aug): weakness outside of transportation PCE core deflator (Aug): annual rate approaching upper end of Fed’s comfort zone New home sales fell again in July, albeit only slightly, from 300k to 298k. Although interest rates are low, demand for new homes is subdued, due to an ample supply of existing homes, high unemployment and significant economic uncertainty. New home sales could have remained more or lessMon, 26 Sep 2011 09:43:32 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-09-26.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-09-19.htmlHousing starts (Aug): set to decline again FOMC meeting: discussion about possible further policy tools Leading indicators (Aug): modest increase The NAHB housing market index remained unchanged at 15 in August. Sales expectations declined by two points, but had risen by six points in July. In addition, the remaining two subindices posted marginal gains. We therefore expect the NAHB housing market index to have edged higher to 16 in September . However, this is still very low, as levels belowMon, 19 Sep 2011 09:38:27 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-09-19.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-09-12.htmlRetail sales (Aug): modest increase amid drop in car sales Consumer prices (Aug): annual rate still elevated but could have peaked NY Empire and Philadelphia Fed index (Sep): less negative albeit still indicating contraction Industrial production (Aug): unchanged at best UMI consumer sentiment (Sep): stabilisation after sharp drop Despite the only modest economic upswing, government revenues have performed better than expected, and thus the Congressional Budget Office (CBO) has adjustedMon, 12 Sep 2011 09:12:51 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-09-12.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-09-05.htmlISM non-manufacturing index (Aug): ongoing expansion albeit more moderate Trade balance (Jul): narrowing after significant deterioration in June Since its peak at 59.7 in February, the ISM nonmanufacturing index has been trending downwards. Although its business activity component improved sharply in July, the index declined to 52.7, which was the lowest level since February 2010. As the new orders component dropped to 51.7, we expect the ISM non-manufacturing index to have followed suit andMon, 05 Sep 2011 10:55:21 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-09-05.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-08-29.htmlPCE core deflator (Jul): annual rate set to rise further Consumer confidence (Aug): sharp drop of more than ten points ISM manufacturing index (Aug): below the expansion level Nonfarm payrolls (Aug): moderate increase In June, personal income rose by a mere 0.1% mom, and personal spending actually declined by 0.2% mom. Given the increases in aggregate working hours and average hourly earnings, we expect personal income to have risen by 0.3% mom in July. As retail sales rose by 0.5% mom, weMon, 29 Aug 2011 09:20:16 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-08-29.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-08-22.htmlDurable goods orders (Jul): rebound due to aircraft orders GDP (Q2: 2nd estimate): downward revision UMI consumer sentiment (Aug): modest recovery New home sales declined by 1.0% mom to 312k in June, but months’ supply eased slightly further to 6.3 months. Given the recent weakness in existing home sales, we predict that new home sales will also have fallen somewhat in July, albeit only slightly to 310k. Due to a base effect, the annual rate would nevertheless jump from 1.6% to about 11%.Mon, 22 Aug 2011 09:30:11 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-08-22.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-08-15.htmlFirst regional manufacturing indices (Aug): indicating no expansion Industrial production (Jul): accelerating primarily due to utilities Inflation rates (Jul): annual rates set to decline somewhat The New York Empire manufacturing index remained negative in July, but contracted at a slightly slower pace than in June. However, the new orders component fell to –5.45, which did not bode well for the near future. The Philadelphia Fed index returned into positive territory in July, but importantMon, 15 Aug 2011 09:31:46 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-08-15.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-08-08.htmlFOMC meeting: fed funds rate set to remain exceptionally low for an extended period Trade balance (Jun): narrowing due to lower oil imports and weak domestic demand Retail sales (Jul): up on higher car sales UMI consumer sentiment (Aug): negative factors prevail We expect nonfarm productivity to have fallen by about 1.0% qoq annualised in Q2. Nonfarm business gross value added went up by 1.8%, but according to the labour market reports, aggregate hours worked could have risen by almost 3%.Mon, 08 Aug 2011 10:49:52 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-08-08.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-08-01.htmlPCE core deflator (Jun): annual rate set to rise to 1.4% ISM manufacturing index (Jul): slower pace of expansion ISM non-manufacturing index (Jul): up slightly Labour market report (Jul): only a slight improvement in payroll growth After a steep decline in June, both the New York Empire manufacturing and the Philadelphia Fed index recovered somewhat in July. However, their levels at around zero indicate no or little expansion in the manufacturing sector. In contrast, the ISM manufacturingMon, 01 Aug 2011 10:35:22 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-08-01.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-07-25.htmlConsumer confidence indicators (Jul): down Durable goods orders (Jun): moderately higher GDP (Q2): growth slowing Having peaked at 66.0 in April, consumer confidence fell in the two following months, reaching 58.5 in June. The decline was mainly due to lower expectations, as consumers were concerned about the outlook for the economy, employment conditions and also inflation. The University of Michigan’s preliminary consumer sentiment index declined sharply to 63.8 from 71.5. Moreover, labourMon, 25 Jul 2011 12:03:37 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-07-25.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-07-18.htmlLeading indicators (Jun): increasing again albeit only moderately Philadelphia Fed index (Jul): returning into positive territory The NAHB index, which had stabilised somewhat at the beginning of the year, fell back sharply by 3 points to 13 in June – the lowest level since August 2010. Future sale expectations were particularly weak. Given the slowdown in economic momentum and the high stock of unsold homes, the NAHB index could have remained merely unchanged in July. In May, housing startsMon, 18 Jul 2011 09:52:10 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-07-18.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-07-11.htmlTrade balance (May): supply chain disruptions could have hampered imports Inflation data (Jun): dampening impact from lower energy prices Retail sales (Jun): unchanged NY Empire manufacturing index (Jul): returning into positive territory Industrial production (Jun): modest improvement UMI consumer sentiment (Jul): slight improvement due to ongoing drop in fuel prices The trade deficit shrank significantly from $46.8bn to $43.7bn in April, as exports rose by 1.3% mom while imports declined byMon, 11 Jul 2011 11:03:15 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-07-11.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-07-04.htmlLabour market report (Jun): payroll growth likely to have recovered only moderately Factory orders, which went down by 1.2% mom in April due to a sharp decline in durable goods orders, are likely to have rebounded in May. We already know that durable goods orders rose by 1.9% mom, particularly due to a recovery in nondefense aircraft orders. But nondurable goods orders might have gone up only modestly, as energy prices moderated in the course of the month and the ISM new orders componentMon, 04 Jul 2011 09:30:12 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-07-04.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-06-27.htmlConsumer confidence indicators (Jun): another albeit slight decrease ISM manufacturing index (Jun): moderate pace of expansion only Personal income and spending both rose by 0.4% mom in April, but the increase in consumption expenditures was mainly due to higher prices, as the headline PCE price index went up by 0.3% mom. We expect personal income to have increased by 0.4% mom in May again, as average hourly earnings rose by 0.3% mom and aggregate hours worked posted a modest increase. ButMon, 27 Jun 2011 09:38:31 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-06-27.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-06-20.htmlFOMC meeting: rates to remain unchanged, asset purchases to be phased out Durable goods orders (May): slight increase GDP (Q1; 3rd estimate): marginal upward revision The FOMC is scheduled to meet on Wednesday. The rate decision will be published at 18.30 hrs, the press conference will start at 20.15 hrs. We expect the Fed Funds target rate to be kept at 0 to 0.25%. Moreover, the FOMC is likely to confirm its long-term commitment to “exceptionally low levels for the federal funds rate for anMon, 20 Jun 2011 11:23:07 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-06-20.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-06-13.htmlRetail sales (May): only a slight rise Consumer prices (May): stabilising UMI consumer sentiment (May): consumers less confident Regional manufacturing indices (Jun): slight recovery Housing starts (May): further increase Industrial production (May) : unchanged After several months of sharp increases, headline inflation data are generally expected to have slowed in May, as energy prices and several other commodity prices fell. Producer prices had risen by 0.8% in April, mainly due to aMon, 13 Jun 2011 09:24:39 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-06-13.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-06-06.htmlTrade balance (Apr): no further deterioration despite sharp rise in import prices Import prices (May): first drop since June 2010 due to lower petroleum prices Due to higher demand for cars and a subsequent rise in non-revolving credit, total consumer credit has increased in the last six months, after having fallen for 20 consecutive months. However, credit card debt went up for the first time in March following three years of contraction. Given the improving labour market situation, revolvingMon, 06 Jun 2011 11:08:58 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-06-06.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-05-30.htmlConsumer confidence (May): rising again due to an improving labour market ISM manufacturing index (May): downward correction Labour market report (May): slower, albeit still robust, growth in nonfarm payrolls The Chicago PMI fell 3 points in April, but remained elevated at 67.6. However, all important subcomponents except for supplier deliveries declined significantly, and the substantial slowdown in delivery time – generally a positive sign – could this time have been connected to disruptionsMon, 30 May 2011 09:19:40 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-05-30.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-05-23.htmlDurable goods orders (Apr): downward correction GDP (Q1; 2nd estimate): slight upward revision due to consumption PCE core deflator (Apr): annual rate at 1% As expected, new home sales rose by 30k in March, from a revised 270k to 300k. But this was still almost 22% below the previous year’s level. New home sales have been fluctuating around 300k since May 2010. Given the pickup in employment they could have gone up again in April to about 320k. March durable goods orders surged by 4.1% mom.Mon, 23 May 2011 10:46:32 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-05-23.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-05-16.htmlFirst regional manufacturing indices (May): robust expansion Housing starts (Apr): further rise Industrial production (Apr): modest increase In April, the regional manufacturing indices from New York and Philadelphia performed very differently: while the New York Empire index rose more than 4 points to 21.7, the Philadelphia Fed index plunged from an extraordinarily high level of 43.4 to a mere 18.5. As manufacturing is still leading the upswing, we expect both indices to continue to showMon, 16 May 2011 09:42:11 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-05-16.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-05-09.htmlTrade balance (Mar): wider trade deficit because of surge in import prices Retail sales (Apr): marked rise due to rebound in car sales Consumer prices (Apr): slower increase than previous month UMI consumer sentiment (May): unchanged at relatively low level Import prices rose sharply in the first three months of 2011 by an annualised rate of 25%. More than twothirds of the increase was due to higher oil prices. They continued to increase markedly, albeit less sharply, in April, by almost 10%Mon, 09 May 2011 11:28:53 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-05-09.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-04-25.htmlConsumer confidence (Apr): unchanged after massive drop FOMC meeting: possibly changes in the wording, and press conference with adjusted projections GDP (Q1): slower growth rate due to harsh winter weather and high energy prices ISM indices (Apr): at robust expansion levels Labour market report (Apr): another payroll increase of more than 200k New home sales plummeted by 17% mom to a new low of 250k in February while median home prices declined by 8.9% yoy. The weakness in new home sales isMon, 25 Apr 2011 05:54:12 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-04-25.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-04-18.htmlHousing starts (Mar): recovering somewhat Leading indicators (Mar): slight increase Philadelphia Fed index (Apr): downward correction The NAHB index improved modestly to 17 in March, but was still far below 50, thus indicating that many more builders view conditions as bad rather than good at present. Given the unfavourable development of housing starts, the relatively low level of building permits and the ongoing downward trend in house prices, we expect the NAHB index to have remainedMon, 18 Apr 2011 09:16:44 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-04-18.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-04-11.htmlTrade balance (Feb): deficit set to narrow slightly Retail sales (Mar): boosted by another surge in gasoline prices Inflation data (Mar): sharp upward drift in annual rates New York Empire manufacturing index (Apr): further rise Industrial production (Mar): favourable indications for noticeable increase UMI consumer sentiment (Apr): no significant recovery Despite a 2.7% mom rise in exports, the trade deficit widened sharply by $6bn to $46.3bn in January. Imports soared by 5.2% mom, which wasMon, 11 Apr 2011 09:28:12 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-04-11.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-04-04.htmlFOMC minutes (15 Mar): discussion about inflation risks and very expansive policy stance The ISM non-manufacturing index, which had been lagging behind its manufacturing counterpart since July 2009, has now reached a similarly high expansion level. This indicates that the upswing has become more balanced and sustainable. We expect the ISM non-manufacturing index to have remained stable at 59.7 in March. As the ISM manufacturing index fell slightly to 61.2 in March, the gap between the twoMon, 04 Apr 2011 10:01:13 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-04-04.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-03-28.htmlConsumer confidence (Mar): noticeable drop due to heightened uncertainty Labour market (Mar): similar increase in nonfarm payrolls as in the previous month ISM manufacturing index (Mar): first regional indices point to ongoing strength Personal income jumped unexpectedly by 1.0% mom in January, but 70% of the increase resulted from the reduced employee contributions for government social insurance set out in the Job Creation Act of December 2010. We expect personal income to have risen muchMon, 28 Mar 2011 09:22:20 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-03-28.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-03-21.htmlHome sales (Feb): Existing home sales down – new home sales slightly up Durable goods orders (Feb): upward trend for orders ex transportation UMI consumer sent (Mar) : heightened uncertainty due to crises in North Africa and Japan Existing home sales rose by 2.7% mom to a higher than expected 5.36m in January. However, the indications for February are unfavourable: new home sales fell sharply in January, and forerunning pending home sales declined by about 6% in the last two months. We thusMon, 21 Mar 2011 10:22:03 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-03-21.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-03-14.htmlFOMC meeting: more optimistic assessment of economy and labour market Housing starts (Feb): downward correction after jump in multi-family starts Consumer prices (Feb): annual rate set to rise above 2 % Industrial production (Feb): noticeable increase particularly in manufacturing output Leading indicators (Feb): significant jump after modest rise in January The New York Empire manufacturing index rose moderately from 11.9 to 15.4 in February. However, this improvement paled beside theMon, 14 Mar 2011 10:55:22 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-03-14.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-03-07.htmlRetail sales (Feb): sharper rise due to vehicle sales and higher gasoline prices UMI consumer sentiment (Mar): stable at highest level since January 2008 In Q4, consumer credit rose for three consecutive months for the first time since the second quarter of 2008. The gain accelerated to $6.1bn in December, as the holiday season brought forward the first increase in credit card debt since August 2008. We expect the modestly positive trend to have continued, and thus consumer credit could haveMon, 07 Mar 2011 10:58:15 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-03-07.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-02-28.htmlPCE core deflator (Jan): noticeable rise partly due to medical care costs ISM indices (Feb): at very high expansion levels Labour market report (Feb): stronger growth in payrolls despite severe weather conditions Personal income, which rose by 0.4% mom in December, could have gone up by 0.3% mom in January. Average hourly earnings increased by 0.35% mom, but this could have been partly cancelled out by the decline in aggregate working hours. Retail sales increased by a mere 0.3% mom, butMon, 28 Feb 2011 11:41:28 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-02-28.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-02-21.htmlConsumer confidence (Feb): another slight improvement Home sales (Jan): weather-related decline Durable goods orders (Jan): sharp rise reflecting recovery in aircraft orders Initially, the Conference Board’s consumer confidence index had shown a marked rise of 7 points to 60.6 in January. However, as the Conference Board changed the data provider, the index levels since November have been revised up significantly; the January level was thus 5 points higher than initially shown, even though theMon, 21 Feb 2011 10:59:03 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-02-21.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-02-14.htmlFirst regional PMIs (Feb): set to rise amid already robust expansion levels Retail sales (Jan): another substantial increase due to vouchers and higher gasoline prices Housing starts (Jan): weather-related decline Industrial production (Jan): dampened by snowstorms Inflation data (Jan): up markedly mainly due to higher commodity prices The New York Empire manufacturing index only increased slightly by two points in January, but its subcomponents went up significantly. As January’s ISMMon, 14 Feb 2011 11:42:38 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-02-14.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-02-07.htmlUMI consumer sentiment (Feb): up again despite rising inflation worries From October 2008 to August 2010, the volume of consumer credit decreased by $165bn. Since then, a modest upward trend seems to have set in. The Senior Loan Officer Survey for Q4/2010 indicated that banks have slightly eased consumer credit conditions on net again, but credit demand appears not to have changed much. We expect consumer credit to have gone up by $3.0bn in December. Initial jobless claims , which had shot upMon, 07 Feb 2011 10:11:30 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-02-07.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-01-31.htmlPCE core deflator (Dec): annual rate set to remain at a mere 0.8% ISM indices (Jan): slight improvement from already elevated level Labour market report (Jan): stronger job growth than in the previous month According to the preliminary GDP data for Q4, growth in personal income is likely to have accelerated to about 0.7% mom in December. Personal spending might have increased by 0.5% mom, in line with favourable anecdotal evidence about robust holiday spending. However, the rise in nominalMon, 31 Jan 2011 11:43:37 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-01-31.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-01-24.htmlConsumer confidence (Jan): moderate recovery FOMC meeting: no major changes in policy stance Durable goods orders (Dec): rebound expected GDP (Q4): growth rate set to have accelerated Other than the University of Michigan’s (UMI) indicator, the Conference Board’s consumer confidence declined unexpectedly from 54.3 to 52.5 in December, mainly due to a less favourable assessment of labour market conditions. In January, UMI’s preliminary consumer sentiment fell somewhat, but the final resultsMon, 24 Jan 2011 09:34:01 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-01-24.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-01-17.htmlFirst regional PMIs (Jan): robust expansion levels Housing starts (Dec): stable at low level Leading indicators (Dec): another significant increase The New York Empire manufacturing index rebounded from –11.1 to +10.6 in December. The Philadelphia Fed index, which had already improved significantly in November, rose further from 18.1 to 20.8 (revised from 24.3). We expect the unusually large gap between the two indices to have narrowed somewhat in January. Thus the New York Empire could haveMon, 17 Jan 2011 10:45:20 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-01-17.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-01-10.htmlTrade balance (Nov): deficit set to rise after significant narrowing in October Consumer prices (Dec): marked increase mainly due to higher gasoline prices Retail sales (Dec): another noticeable rise Industrial production (Dec): positive impact of utility output UMI consumer sentiment (Jan): slight decrease The growth in wholesale inventories has been re-accelerating since July, outpacing the growth in sales except for October, when sales went up by 2.2% mom and inventories by 1.9% mom. WeMon, 10 Jan 2011 10:14:30 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2011-01-10.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2010-12-28.htmlConsumer confidence (Dec): further improvement ISM indices (Dec): robust expansion levels Labour market report (Dec): nonfarm payrolls to rise much more than in November The Conference Board’s consumer confidence jumped 4.2 points in November, led by higher expectations. However, the index is still low compared to the University of Michigan’s consumer sentiment and, as the graph shows, even relative to the current pace of job creation. We thus forecast that consumer confidence will haveTue, 28 Dec 2010 10:23:10 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2010-12-28.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2010-12-20.htmlDurable goods orders (Nov): rebound ex transportation PCE core deflator (Nov): annual rate still below Fed’s comfort zone In the 2nd estimate, the GDP growth rate for Q3 was revised up from 2.0% to 2.5% annualised, and it is likely to be raised again to 2.8% in the 3rd estimate, mainly because consumer spending and business inventories were higher than initially estimated. In October, existing home sales fell by 2.2% mom. But as forerunning pending home sales jumped by 10.4% mom, we predictMon, 20 Dec 2010 10:39:19 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2010-12-20.htmlhttp://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2010-12-13.htmlRetail sales (Nov): another marked increase FOMC meeting: no change in fed funds rate or “quantitative easing” Consumer prices (Nov): annual core rate still noticeably below 1 % First regional manufacturing PMIs (Dec): narrower gap between Philly Fed and New York Empire Industrial production (Nov): moderate increase Housing starts (Nov): rebounding after steep decline Producer prices could have risen by 0.7% mom in November, mainly due to higher energy prices. The annual rate will neverthelessMon, 13 Dec 2010 11:51:28 GMThttp://www.fxstreet.com/fundamental/economic-calendar/corp-comm@bhf-bank.com (BHF-Bank)http://www.fxstreet.com/fundamental/economic-calendar/us-economic-indicators/2010-12-13.html