http://www.fxstreet.com/fundamental/market-view/week-ahead/http://www.fxstreet.com/fundamental/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-11-23.htmlCorporate Profits (3Q09, Tuesday 8:30 ET) Forecast: 6.2% Consensus: n.a. Previous: 0.9% The pick-up in demand in 3Q09, coupled with businesses’ cost cutting measures, will pull companies further out of the red in 4Q09. After-tax corporate profits with inventory valuation are expected to rise for the third consecutive quarter. Nevertheless, profits will remain at levels well below those of the previous year. While the increase in profits could indicate that companies may begin to open theirMon, 23 Nov 2009 06:18:16 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-11-23.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-11-16.v02.htmlCorporate Profits (3Q09, Tuesday 8:30 ET) Forecast: 6.2% Consensus: n.a. Previous: 0.9% The pick-up in demand in 3Q09, coupled with businesses’ cost cutting measures, will pull companies further out of the red in 4Q09. After-tax corporate profits with inventory valuation are expected to rise for the third consecutive quarter. Nevertheless, profits will remain at levels well below those of the previous year. While the increase in profits could indicate that companies may begin to open theirMon, 16 Nov 2009 11:18:46 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-11-16.v02.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-11-16.htmlRetail Sales, excluding Transportation (October, Monday 8:30 ET) F: 0.8%, 0.4% C: 0.9%., 0.4% P: -1.5%, 0.5% After adjusting downward in September due to the end of the Cash for Clunkers program, retail sales are expected to rise in October, reflecting modest strengthening in consumer demand. Auto sales are expected to provide a boost, given their jump to 10.45M vehicles from 9.2M. Nevertheless, looking forward, retail sales are expected to remain subdued given the labor market weakness thatMon, 16 Nov 2009 11:16:28 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-11-16.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-11-09.htmlInitial Unemployment Insurance Claims (w/e Nov 6, Thurs 8:30 ET) F: 509K C: 510K P: 512K Initial unemployment insurance claims are expected to drop slightly to 509K, but they will remain high as a reflection of the ongoing weakness in the labor market. Although initial claims have been exhibiting a downward trend since April, progress has been slow. Businesses are continuing to cut costs even as economic activity begins to improve. As a result, the weak labor market is one of the primary risksMon, 09 Nov 2009 06:49:30 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-11-09.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-11-03.htmlISM Manufacturing Index (October, Monday 10:00 ET)  F: 53.8 C: P: 52.6  The ISM Manufacturing Index will be one of the first data released for the fourth quarter that provides insight into economic activity. Given increases in most regional manufacturing indices and the pick-up in durable goods orders, the ISM is expected to rise in October, coming in at a level consistent with economic growth for the sixth month in a row. As a result, we can infer that economic expansion willTue, 03 Nov 2009 07:02:50 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-11-03.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-10-26.htmlS&P Case-Shiller 20 Home Price Index (August, Tuesday 9:00 ET) F: -12.5% yoy C: -11.9% yoy P: -13.3% yoy The ongoing improvement in sales of new and existing homes will cause home prices to stabilize further in August. As a result, the year-over-year decline is expected to slow for the fifth month in a row. The housing market remains weak and there is some uncertainty as to its future once the tax credit for first time buyers expires on November 30, nonetheless, home prices are expected toMon, 26 Oct 2009 10:25:04 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-10-26.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-10-19.htmlHousing Starts & Building Permits (September, Tuesday 8:30 ET) F: 605K, 595K C: 610K, 590K P: 598K, 579K Residential construction is expected to improve as a result of better affordability conditions and positive readings on home sales. Builders seem to have a more positive view on the market’s future. According to the National Association of Home Builders, confidence improved in September. The NAHB/Wells Fargo Housing Market Index rose to 19, the highest level since May 2008. Despite theMon, 19 Oct 2009 07:17:31 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-10-19.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-10-13.htmlRetail Sales (September, Wednesday 10:00 ET) F:-1.7% C: -2.1% P: 2.7% Retail sales likely declined in September as the temporary effect of the Cash for Clunkers program diminishes. Domestic auto sales fell 34.7% in September, following a 25.2% increase in August. Furthermore, retail sales excluding autos may be rebounding; we expect a slight positive increase, as several large retailers reported positive increases in September same store sales last Thursday. For 3Q09, we expect a 1.8% totalTue, 13 Oct 2009 08:40:35 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-10-13.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-10-05.htmlNon-manufacturing ISM (September, Monday 10:00 ET)  F: 49.5 C: 50.0 P: 48.4 The ISM Non-Manufacturing Index is expected to remain virtually unchanged. Although the index has rebounded substantially since November 2008 -when it reached a minimum of 37- its trend continues to show a weak environment for non-manufacturing industries such as construction, services and finances. Uncertainty in these sectors remains, as suggested by September’s employment report, which showed a contraction ofMon, 05 Oct 2009 08:13:26 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-10-05.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-09-28.htmlConsumer Confidence (September, Tuesday 10:00 ET)  F: 57.9 C: 57.0 P: 54.1 Due to recent improvements in economic indicators, strength in the stock market and positive messages that the economy is beginning to recover, consumer confidence is expected to rise in September. The greater confidence could help consumer spending stabilize further, but households still remain constrained by ongoing job losses, low income growth and tight credit markets, which will limit growth in consumption.Mon, 28 Sep 2009 08:38:22 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-09-28.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-09-21.htmlLeading Economic Index (LEI) (August, Monday 10:00 ET) F: 0.8% C: 0.7% P: 0.6% The LEI is expected to climb 0.8% in August, further substantiating that the worst of the economic adjustment has passed. The index will be supported by strength in the majority of its components. The ISM manufacturing index indicated that manufacturers’ new orders have increased. Furthermore, with the growth in manufacturing activity, the sector’s average weekly hours are expected to rise. Moreover, increases inMon, 21 Sep 2009 10:38:11 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-09-21.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-09-14.htmlBusiness Inventories (July, Tuesday 10:00 ET) F: -1.0% C: -0.8% P: -1.1% The inventory adjustment processes is not yet over for businesses as they continue to shed stock at an accelerating pace. However, the inventory to sales ratio is declining, which could indicate that the adjustment is nearing bottom. Although a slower rate of decline in inventories could result in a positive effect on GDP, businesses are expected to hold inventories at low levels until demand is restored. Consumer PriceMon, 14 Sep 2009 12:43:19 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-09-14.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-09-08.htmlConsumer Credit (July, Tuesday 15:00 ET) F: -$6.5B C: $-4.0B P: -$10.3B Consumer credit in July is expected to drop for the tenth time since July 2008 as this market faces challenges from both supply and demand. Consumers continue to reign in spending, pay off credit cards and increase savings in the face of ongoing job losses. Furthermore, the Senior Loan Officer Survey indicated that banks have further increased their credit standards, limiting consumer access. The decline in creditTue, 08 Sep 2009 14:11:55 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-09-08.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-08-31.htmlISM Manufacturing Index (August, Tuesday 10:00 ET) F: 52.8 C: 50.5 P: 48.9 Amid signs from regional manufacturing indices that activity expanded in August, the ISM manufacturing index is expected to surpass the benchmark of fifty to indicate expansion in the industry for the first time since January 2008. Furthermore, August will be the third month that the index maintains a level consistent with overall economic expansion. These results would be in line with our expectations of modestMon, 31 Aug 2009 10:38:22 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-08-31.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-08-24.htmlConsumer Confidence (August, Tuesday 10:00 ET) F: 49.0 C: 47.6 P: 46.6 Amid additional signs of stabilization in the economy and the better than expected non-farm payroll and unemployment results, consumer confidence is expected to rise in August after dropping in the two previous months. Nevertheless, it will remain at a low level because consumers continue to suffer from a weak labor market and tight credit markets. As a result, consumption is expected to remain weak in the third quarter.Mon, 24 Aug 2009 07:21:02 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-08-24.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-08-17.htmlHousing Starts and Building Permits (July, Tuesday 8:30 ET) F: 602K, 580K C: 598K, 575K P: 582K, 570K Both housing starts and building permits are expected to rise in July for the third month in a row, indicating that the decline in residential construction could be slowing. Nevertheless, construction remains at extremely low levels with housing starts more than 40% below those of last year. This sector will continue to face challenges as foreclosures further push down the price of existingMon, 17 Aug 2009 09:49:27 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-08-17.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-08-10.htmlTrade Balance (June, Wednesday 8:30 ET) F: -$27.6B C: -$28.5B P: -$26.0B As both domestic and global demand remain weak due to the ongoing recession, both imports and exports are forecasted to drop further in June. The decline in imports, however, is expected to be slower than that of exports because the 17.7% jump in oil prices in June could help to offset the downward pressures from demand. As a result, the trade deficit could expand after contracting in May. FOMC Meeting StatementMon, 10 Aug 2009 07:22:12 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-08-10.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-08-03.htmlISM Manufacturing Index (July, Monday 10:00 ET) F: 46.4 C: 46.5 P: 44.8 The ISM manufacturing index is expected to remain below the benchmark of 50, but will continue on its seven month upward trend in July. These results would indicate that the manufacturing industry is still contracting in the face of feeble demand, but at a slower pace. Nevertheless, the index is expected to come in over 41.2 for the third month in a row. Since data persistently above this benchmark indicates economicMon, 03 Aug 2009 08:08:15 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-08-03.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-07-27.htmlNew Home Sales (June, Monday 10:00 ET) F: 344K C: 355K P: 342K June’s new home sales data is expected to show increased stabilization in the housing market as the decline in sales eases. Nevertheless, sales will remain weak as the market faces competition from existing homes, which are currently selling at deep discounts. As a result, in order for demand for new homes to strengthen, and hence for new residential construction to pick-up, the price of existing homes will need to stabilize andMon, 27 Jul 2009 06:36:04 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-07-27.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-07-20.htmlLeading Economic Index LEI (June, Wednesday 8:30 ET) F: 0.8% C: 0.5% P: 1.2% In June, the LEI is expected to rise for the third month in a row, but at a slower pace. Even though two of the index’s previous drivers of growth, the S&P500 and consumer expectations, have dropped in June, the decline in initial jobless claims and the rise in manufacturers new orders and building permits will help to offset those components. A rise in the index will support the outlook that economic contractionMon, 20 Jul 2009 08:07:11 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-07-20.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-07-13.htmlRetail Sales, Excluding Autos (June, Tuesday 8:30 ET) F: 0.4%, 0.5% C: 0.4%, 0.5% P: 0.5%, 0.5% Retail sales are expected to increase for the second month in a row in June due to the jump in personal income over the past two months. The rise, however, is expected to be moderate as the job market remains weak and the savings rate is increasing. Given this backdrop, consumption expenditures in 2Q09 are expected to remain low, at levels below those of last year. Business Inventories (July,Mon, 13 Jul 2009 08:31:54 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-07-13.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-07-06.htmlISM Non-Manufacturing Index (June, Monday 10:00 ET) F: 45.1 C: 46.0 P: 44.0 The ISM non-manufacturing index is expected to increase for the third month in a row, but will remain below the benchmark of 50, indicating that the non-manufacturing sector continues to contract but at a slower pace. These results would be in line with our expectation of slower economic contraction in 2Q09 than the previous quarter. Consumer Credit (May, Wednesday 15:00 ET) F: -$12.7B C: -$10.0B P: -$15.7B ConsumerMon, 06 Jul 2009 08:07:32 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-07-06.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-06-29.htmlS&P Case-Shiller 20 Home Price Index (April, Tuesday 9:00 ET) F: -0.6% C: P: -2.2% Home prices are expected to drop for the 33rd month in a row as foreclosures continue and inventories remain high, prompting deep discounts to attract buyers. Nevertheless, the market for existing homes has experienced renewed interest in recent months due to increasing affordability, which will help to slow the pace of price decline. Looking forward, the level of inventories could remain high for some time,Mon, 29 Jun 2009 07:28:55 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-06-29.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-06-22.htmlExisting Home Sales (May, Tuesday 10:00 ET) F: 4.83M C: 4.80M P: 4.68M Existing home sales are expected to increase for the second month in a row to 4.83M from 4.68M due to falling prices, favorable mortgage rates and the new tax credit for first time buyers. In fact, pending home sales, a leading indicator for existing home sales, has increased for the past three months. Nevertheless, foreclosures are still occurring and the inventory to sales ratio is remains high, so prices could decreaseMon, 22 Jun 2009 13:41:25 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-06-22.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-06-15.htmlEmpire State Manufacturing Index (June, Monday 8:30 ET) F: -2.1 C: -5.1 P: -4.6 The recent increases in consumer confidence could help to further raise business expectations in the New York Fed’s territory. Consequentially, the empire state manufacturing index is expected to improve further to -2.1% after increasing for the previous two months. These results would indicate that the contraction in the manufacturing industry is easing. Housing Starts (May, Tuesday 8:30 ET) F: 470K C: 483K P:Mon, 15 Jun 2009 07:19:14 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-06-15.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-06-08.htmlInternational Trade Balance (April, Wednesday 8:30 ET) F: -$29.4 C: -$28.7 P: -$27.6 The trade balance is expected to widen for the second month in a row in April. Even though demand for both imports and exports is expected to remain weak due to feeble economic activity at home and abroad, import prices rose 1.6% in April, which could translate into an increase in the value of imports. As a result, we could see the trade balance widen in response to a rise in the value of imports compared toMon, 08 Jun 2009 07:17:25 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-06-08.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-06-01.htmlPersonal Income and Outlays (April, Monday 8:30 ET) F: -0.2, -0.1 C: -0.2%, -0.2% P: -0.3, -0.2 Weak economic activity is expected to push personal income and outlays further down in April. Personal income is forecasted to drop for the third month in a row as the economic downturn drives more companies to layoff workers, cut hours, require unpaid furloughs and change salary structures. In response to the changes in the labor market, personal consumption expenditures are expected to fall forMon, 01 Jun 2009 09:52:33 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-06-01.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-05-26.htmlConsumer Confidence (May, Tuesday 10:00 ET) F: 41.5 C: 43.0 P: 39.2 Consumer confidence is expected to increase further for the third month in a row as people react to recent positive economic data. Nevertheless, the index’s level will still come in far below the historical average of 96.5, indicating that confidence remains weak. An increase in confidence could be a good sign for consumer spending because people will spend more as their outlook of the future improves. Durable Goods OrdersTue, 26 May 2009 12:30:28 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-05-26.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-05-18.htmlHousing Starts (April, Tuesday 8:30 ET) F: 520K C: 523K P: 510K The worst for residential construction may be over. In April, the National Association of Home Builders/Wells Fargo Housing Market Index jumped to 14 from 9. This was the largest one-month change since March 2003. This is good news for the residential investment outlook. According to this report, potential single-family home buyers seem to be taking advantage from falling prices, low mortgage rates and an $8,000 first-timeMon, 18 May 2009 07:32:25 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-05-18.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-05-04.htmlPending Home Sales (March, Monday 10:00 ET) F: -0.4% C: 0.0% P: 2.1% Pending home sales are expected to drop 0.4% in March after jumping up 2.1% in February, indicating that we may see a decline in existing home sales. Even though the tax credit for new buyers and the more favorable mortgage rates appear to be helping to boost housing demand, pending home sales levels are expected to remain below those of last year due to the weak economy and tight credit markets. ISM Non-Manufacturing andMon, 04 May 2009 07:48:07 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-05-04.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-04-27.htmlConsumer Confidence (April, Tuesday 10:00 ET) F: 29.1 C: 29.0 P: 26.0 Consumer confidence is expected to increase for the second month in a row in April; however it will remain at a very low level due to continued concerns about the weak job market and overall economy. Ongoing low consumer confidence could have a negative impact on the consumption component of GDP as consumers shift to more conservative spending habits. Real GDP (Advanced) (1Q09, Wednesday 8:30 ET) F: -4.7% C: -5.0 P: -6.3%Mon, 27 Apr 2009 07:19:48 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-04-27.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-04-06.htmlConsumer Credit (February, Tuesday 15:00 ET) F: $2.0bn C: -$3.0bn P: 1.8bn Consumer credit is expected to increase in February for the second month in a row after dropping for three straight months. The level of credit outstanding will be boosted by an increase in mortgages outstanding due to the jump in new and existing home sales (4.7% and 5.1% respectively). Looking forward, the problem with credit will be one of supply, rather than demand. As a result, consumer credit will remain wellMon, 06 Apr 2009 07:20:07 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-04-06.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-03-31.htmlConsumer Confidence (March, Tuesday 10:00 ET) F: 25.6 C: 27.3 P: 25.0 After declining for four consecutive months, consumer confidence is expected to remain stable but low in March. The economic environment remains weak and lay-offs are ongoing so consumers still feel uncertainty about the near future. As a result, they will continue to cut back on spending, which will affect the consumption component of GDP. This is in line with our baseline scenario of a decrease in personal consumption inTue, 31 Mar 2009 07:30:24 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-03-31.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-03-23.htmlExisting and New Home Sales (Feb, Mon 10:00 ET, Wed 10:00 ET) F: 4.37M, 302K C: 4.45M, 300K P: 4.49M, 309K Existing and new home sales are expected to decrease further in February. Tight credit markets are making it increasingly difficult for potential buyers to get a mortgage. In addition, the weakening labor market is detering people from making the financial commitment required to buy a house. Looking at historical data, the inventory to sales ratio for existing homes (the number of monthsMon, 23 Mar 2009 09:28:37 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-03-23.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-03-09.htmlInitial Jobless Claims (Mar 6, Thursday 8:30 ET) F: 627K C: 640K P: 639K Initial jobless claims are expected to remain above 600K for the sixth week in a row. Although last week’s results of 639K came down from the prior week's of 670K, suggesting that the rate of increase in initial claims could be slowing, claims are still coming in at very high numbers. This trend indicates that the labor market is still weak. In fact, February’s non-farm payroll data indicates that the number of job lossesMon, 09 Mar 2009 10:47:35 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-03-09.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2009-03-16.htmlIndustrial Production (Feb, Monday 9:15 ET) F: -1.6% C: -1.2% P: -1.8 Industrial production is expected to decline in February for the third month in a row. Durable goods orders have been declining since October and the trend is expected to continue into February. As a result, there will be a negative impact on industrial production. In addition, demand for automobiles is continuing to decrease. This trend will put additional downward pressure on the manufacturers, many of whom have alreadyMon, 16 Mar 2009 08:14:39 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2009-03-16.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2008-09-29.htmlPersonal Income & Spending (Aug, Monday 8:30 ET) F: 0.1, 0.2% C: 0.2, 0.2% P: -0.7, 0.2% In the absence of tax rebates, personal income will expand by a modest pace, reflecting weakness in labor markets. In August, personal income probably increased 0.1% from -0.7% in July. In addition, we expect personal consumption expenditures (PCE) to increase 0.2% in August. When adjusted for prices variations, PCE most likely remained unchanged. For the third quarter as a whole, we expect PCE toMon, 29 Sep 2008 10:39:27 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2008-09-29.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2008-09-22.htmlHurricane Ike Given the impact of hurricane Ike in our area, we were unable to electronically release our analysis last week. Fortunately we are pretty much back to normal. We would like to extend our sympathy to all those affected by this natural disaster and would also like to thank our colleagues and readers for their support during these difficult days. Financial Bailout During the weekend, the White House sent Congress a legislative proposal for Treasury authority to purchaseMon, 22 Sep 2008 13:02:37 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2008-09-22.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2008-09-09.htmlPending Home Sales Index (July, Tuesday 10:00 ET) F: -1.3% C: -1.5% P: 5.3% After increasing 5.3% in June, pending home sales likely edged down 1.3% in July. In part, this downfall reflected a weaker activity during the summer months. It seems that pending home sales bottomed at 83 points back in March 2008. Since then, the index has jumped six points, suggesting that new home sales could stop falling and even improve slightly in the next few months. Import Prices Index (August, Thursday 8:30Tue, 09 Sep 2008 07:48:34 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2008-09-09.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2008-09-01.htmlManufacturing ISM Index (August, Tuesday 10:00 ET) F: 48.5 C: 50.0 P: 49.6 Although manufacturing activity has benefited from solid demand abroad, a slowdown in domestic consumption and rising inventories are likely to limit its pace. Therefore, we expect the manufacturing ISM to remain below its breakeven point of 50 in August. Total Vehicle Sales (August, Wednesday) F: 12.1M C: 13.0M P: 12.5M We expect total vehicle sales to remain weak, declining to 12.1M in August from 12.5M in July.Mon, 01 Sep 2008 08:48:39 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2008-09-01.html