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/2012-01-16.htmlWeek Ahead Empire State Manufacturing Survey (January, Tuesday 8:30 ET) Forecast: 10.0 Consensus: 11.0 Previous: 9.53 The Empire State Manufacturing Index is expected remain positive for the third consecutive month in January after jumping to a 7-month high in December. Manufacturing payrolls rebounded in December to the highest levels since July, possibly marking a reversal in the slow-growth trend for the sector. The 6-month outlook has improved significantly in recent months, and growth inMon, 16 Jan 2012 06:35:49 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2012-01-16.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2012-01-09.htmlWeek Ahead Consumer Credit (November, Monday 14:00 ET) Forecast: $6.9B Consensus: $7.0B Previous: $7.7B Consumer credit is expected to increase in November for the third consecutive month, confirming strength in consumer spending. Rising consumer confidence levels suggest an increased willingness to take on more debt, particularly in the form of credit cards. Furthermore, recent strength in auto sales indicate that demand for auto loans will continue to grow. In general, gradual improvementsMon, 09 Jan 2012 07:00:28 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2012-01-09.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2012-01-02.htmlWeek Ahead ISM Index (December, Tuesday 10:00 ET) Forecast: 53.7 Consensus: 53.2 Previous: 52.7 The ISM Manufacturing Index increased by 1.9pp to 52.7 in November, suggesting modest economic expansion in manufacturing activity. The prices sub-index remained below the threshold of 50, indicating no price pressures in the industry. On the other hand, new orders index has risen in the previous two months and is currently at 56.7 which points to a moderate increase in production. Moreover, theMon, 02 Jan 2012 06:07:40 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2012-01-02.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-12-26.htmlWeek Ahead S&P Case-Shiller HPI (October, Tuesday 9:00 ET) Forecast: -3.10% Consensus: -3.20% Previous: -3.59% The S&P home price index is expected to decline in October on a MoM basis but will likely indicate moderating YoY price contraction. Median home and other price indices have declined in prior months due in large part to downward pressures from an increasing supply of foreclosed homes. Excluding distressed sales, home prices have been improving gradually. Although lower pricesMon, 26 Dec 2011 05:47:06 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-12-26.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-12-19.htmlWeek Ahead Housing Starts and Permits (November, Tuesday 8:30 ET) Forecast: 620K, 618K Consensus: 630K, 630K Previous: 628K, 653K New home starts are expected to decline slightly in November, while building permits will likely see a sharper drop given the excess supply on the market. The homebuilder outlook for November improved following stronger-than-expected starts and permit issuance in September and October. Although demand for new homes remains low by historical standards, it appearsMon, 19 Dec 2011 05:16:08 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-12-19.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-12-12.htmlWeek Ahead Retail Sales, Ex Auto (November, Tuesday 8:30 ET) Forecast: 0.5%, 0.4% Consensus: 0.6%, 0.4% Previous: 0.5%, 0.6% Retail sales are expected to grow again in November for the sixth consecutive month. Motor vehicle sales, which make up close to 20% of total retail sales, jumped 2.8% in November due to growth in both the auto and truck components. Demand for seasonal goods has increased, and strength in holiday shopping likely boosted the ex-auto figure toward the end of the month.Mon, 12 Dec 2011 06:39:08 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-12-12.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-12-05.htmlWeek Ahead ISM Non-Manufacturing Index (November, Monday 10:00 ET) Forecast: 53.5 Consensus: 53.9 Previous: 52.9 The ISM Non-Manufacturing Index is expected to increase slightly in November. The services sector has been expanding steadily for the past two years, however, growth in October was below the average trend since December 2009. The employment index has been gaining strength, and business activity and new orders remain in expansionary territory. While the potential for significantMon, 05 Dec 2011 06:24:29 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-12-05.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-11-29.htmlWeek Ahead S&P Case-Shiller HPI (September, Tuesday 9:00 ET) Forecast: -3.4% Consensus: -3.0% Previous: -3.8% Recent housing indicators have been better-than-expected and suggest general improvement in the residential market. House prices have been stabilizing and we expect slowing in price contraction to continue on a YoY basis. However, increases in foreclosures may have contributed to lower prices for September, given that median home and other price indices declined for the month.Tue, 29 Nov 2011 05:33:22 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-11-29.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-11-21.htmlWeek Ahead Existing Home Sales (October, Monday 10:00 ET) Forecast: 4.85M Consensus: 4.80M Previous: 4.91M Existing home sales are expected to decline slightly in October given the increased demand in new homes for the month. The single-family component weighed on total sales in September and is likely to remain a weak spot in October. Existing home supply has increased suggesting that demand is still weak. While the latest homebuilder outlook suggests sizeable improvement in the residentialMon, 21 Nov 2011 06:05:58 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-11-21.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-11-14.htmlWeek Ahead Retail Sales, Ex. Auto (October, Tuesday 8:30 ET) Forecast: 0.4%, 0.3% Consensus: 0.3%, 0.2% Previous: 1.1%, 0.6% Retail sales are expected to increase in October for the fifth consecutive month as consumer activity recovers. A rise in auto sales likely drove headline retail volume for the month, although the gain reflected fewer expensive truck sales compared to the previous report. While weather issues may have been a concern in some regions, Halloween-related sales likely boostedMon, 14 Nov 2011 06:01:03 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-11-14.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-11-07.htmlWeek Ahead Consumer Credit (September, Monday 15:00 ET) Forecast: $5.7B Consensus: $5.2B Previous: -$9.5B Seasonally-adjusted consumer credit is expected to improve in September after declining in August for the first time in 11 months. Much of the decline reflected a surprising drop in nonrevolving credit, which may have been influenced by a fixed seasonal adjustment. On a non-seasonally-adjusted basis, data continue to suggest strength in both revolving and nonrevolving credit. In the comingMon, 07 Nov 2011 06:23:29 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-11-07.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-10-31.htmlWeek Ahead ISM Manufacturing Index (October, Tuesday 10:00 ET) Forecast: 52.0 Consensus: 52.0 Previous: 51.6 The ISM Manufacturing Index is expected to show slight acceleration in economic activity compared to last month. Third quarter figures were much weaker than in 1H11, but regional Federal Reserve surveys suggest some improvements in October. Rebounds in production and new orders may suggest a recovery in demand. However, price pressures have been stronger than expected lately and couldMon, 31 Oct 2011 06:55:56 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-10-31.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-10-24.htmlWeek Ahead Durable Goods Orders, Ex Auto (September, Wednesday 8:30 ET) Forecast: 0.6%, 0.4% Consensus: -0.9%, 0.4% Previous: -0.1%, -0.1% Durable goods orders are expected to improve in September following a small MoM decline in August. Strength in the auto sector drove retail sales to the largest gain since February 2011, while consumer goods and gasoline sales helped boost the ex-auto figure. Aircraft producers have reported continued demand, however, orders may slow after two months ofMon, 24 Oct 2011 06:45:15 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-10-24.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-10-17.htmlWeek Ahead Empire State Manufacturing Index (October, Monday 8:30 ET) Forecast: -2.00 Consensus: -4.00 Previous: -8.82 The Empire State Manufacturing Index is likely to suggest slowing in the manufacturing sector for the fifth consecutive month despite some improvements in business activity. Inventories and new orders have declined throughout the past few months and sluggish demand conditions indicate little upside potential. Expectations for the next six months have improved slightly, butMon, 17 Oct 2011 06:03:17 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-10-17.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-10-10.htmlWeek Ahead International Trade (August, Thursday 8:30 ET) Forecast: -$45.0B Consensus: -$46.0B Previous: -$44.8B Slowdowns in the global economy likely weighed on international transactions in August, and we expect the trade balance to remain relatively unchanged. Both imports and exports are expected to decline as a result of reduced demand for goods and services, both in the US and abroad. A monthly decline in import prices likely deflated the value of imports, while a large jump in exportMon, 10 Oct 2011 08:01:03 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-10-10.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-10-03.htmlWeek Ahead ISM Manufacturing Index (September, Monday 10:00 ET) Forecast: 51.0 Consensus: 50.3 Previous: 50.6 The ISM Manufacturing Index is expected to show only modest improvement in September and few signs of ongoing improvement in economic activity. In August, the index fell to its lowest point since the recession officially ended two years ago. This month, regional Federal Reserve surveys have indicated pessimism in the business outlook and weak employment data will likely prevent theMon, 03 Oct 2011 08:43:18 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-10-03.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-09-26.htmlWeek Ahead S&P Case-Shiller HPI (July, Tuesday 9:00 ET) Forecast: -4.3% Consensus: -4.55% Previous: -4.5% Weak housing market conditions have dragged on the economic recovery, yet prices are expected to improve slightly in July. The FHFA and CoreLogic home price indices both increased for the month. Growing supply of foreclosed homes has caused prices to decline in prior months, however it is likely that investors will take advantage of low mortgages rates and affordable prices in order toMon, 26 Sep 2011 07:08:30 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-09-26.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-09-20.htmlWeek Ahead Housing Starts (August, Tuesday 8:30 ET) Forecast: 602K Consensus: 590K Previous: 604K Housing starts are likely to be flat in August as home builders remain uncertain about a stronger recovery. Despite an increase in prospective buyers, weakness in the labor market continues to drag down overall demand for new homes. Furthermore, the future sales index declined for the month, indicating prolonged weakness in housing market conditions. Existing Home Sales (August, Wednesday 10:00Tue, 20 Sep 2011 05:26:35 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-09-20.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-09-12.htmlWeek Ahead Retail Sales, Ex. Auto (August, Wednesday 8:30 ET) Forecast: 0.2%, 0.3% Consensus: 0.2%, 0.2% Previous: 0.5%, 0.5% The back-to-school shopping season likely had a positive impact on retail sales for August, and Hurricane Irene most likely contributed to a boost in sales of home supplies toward the end of the month. However, domestic and imported auto sales were down slightly in August, and lower crude oil prices may have led to a nominal decline in gasoline sales. As consumerMon, 12 Sep 2011 06:30:45 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-09-12.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-09-05.htmlWeek Ahead ISM Non-Manufacturing Index (August, Tuesday 10:00 ET) Forecast: 51.5 Consensus: 51.0 Previous: 52.7 The ISM Non-Manufacturing Index is expected to decline slightly in August for the third consecutive month as the economy struggles to maintain a strong recovery. Declining consumer confidence and increasing uncertainties regarding the business outlook likely put a damper on service activity for the month. Despite weak labor market growth, service employment continues to outperformMon, 05 Sep 2011 06:48:17 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-09-05.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-08-29.htmlWeek Ahead Personal Income and Outlays (July, Monday 8:30 ET) Forecast: 0.2%, 0.3% Consensus: 0.3%, 0.5% Previous: 0.1%, -0.2% Personal income is expected to grow in July despite continued weakness in the labor market and uncertainties regarding future employment. Also, growth of personal expenditures is expected to rebound after declining MoM in June for the first time in 12 months. Decreasing consumer confidence throughout the summer months may have impacted real spending habits, howeverMon, 29 Aug 2011 07:03:28 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-08-29.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-08-22.htmlWeek Ahead Durable Goods Orders (July, Wednesday 8:30 ET) Forecast: 1.4% Consensus: 2.1% Previous: -1.9% Durable goods orders are likely to increase slightly in July, mostly due to growth in new orders in the transportation sector. Motor vehicle orders appear to be on the rebound as auto supply chain disruptions have dissipated, and a boost in aircraft orders may skew overall durable goods orders positive. However, given the continued weakness in the manufacturing sector and historically highMon, 22 Aug 2011 06:34:30 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-08-22.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-08-15.htmlWeek Ahead Housing Starts (July, Tuesday 8:30 ET) Forecast: 610k Consensus: 600k Previous: 629k New home starts are likely to decrease slightly in July due to general slowdown in the housing market. Despite a large jump in June, the outlook for new residential construction is pessimistic and confidence among builders is low. Demand for new homes has been suppressed by continued weakness in the labor market and uncertainty regarding future income. Furthermore, credit conditions are likely toMon, 15 Aug 2011 07:06:21 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-08-15.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-08-08.htmlWeek Ahead FOMC Rate Decision (August, Tuesday 14:15 ET) Forecast: 0.0%- 0.25% Consensus: 0.0%-0.25% Previous: 0.0%- 0.25% 1Q11 GDP was revised down to 0.4% QoQ annualized compared to previous estimates between 1.8% and 1.9%. More importantly, the last quarter’s revision and this month’s advanced estimates are inconsistent with Fed expectations of 2.5%-3.0% annual growth. However, the positive July employment report could offset some of the negative expectations. Furthermore, the currentMon, 08 Aug 2011 07:16:56 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-08-08.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-08-01.htmlWeek Ahead ISM Manufacturing Index (July, Monday 10:00 ET) Forecast: 54.0 Consensus: 55.0 Previous: 55.3 Preliminary data for the month of July suggests that the ISM index will decline MoM but imply general economic growth. Moderating price pressures should partially offset the downside risk to manufacturer’s demand expectations. Furthermore, regional Federal Reserve manufacturing reports suggest stagnant or possibly decelerating sector growth but do not signal depressed activity. In addition,Mon, 01 Aug 2011 09:09:52 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-08-01.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-07-25.htmlWeek Ahead Consumer Confidence (July, Tuesday 10:00 ET) Forecast: 57.9 Consensus: 58.3 Previous: 58.5 Consumer confidence is expected to decline in July for the third consecutive month, mainly due to the unenthusiastic employment outlook. Less favorable labor market conditions are likely to weigh on personal spending habits, with fewer consumers foreseeing improvements over the next six months. Falling gas prices may help to balance the impact of the disappointing employment situation, howeverMon, 25 Jul 2011 07:18:56 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-07-25.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-07-18.htmlWeek Ahead Housing Start (June, Tuesday 8:30 ET) Forecast: 567k Consensus: 575k Previous: 560k Oversupply and tight credit are likely to suppress housing starts again in June, however, strong housing permit issuance in May could be an indication that housing starts will increase. Even though multi-unit constructions are on an upward trajectory, single unit constructions are declining and will partially offset the impact of multi-unit gains. Overall construction of new homes has beenMon, 18 Jul 2011 06:53:03 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-07-18.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-07-12.htmlWeek Ahead Trade Balance (May, Tuesday 8:30 ET) Forecast: -43B Consensus: -44B Previous: -43.7B Declining auto imports helped close the trade gap in April, which declined from a revised 46.8M in March to 43.7M in April. Exports decelerated in April, but still increased 1.3% MoM. Also, a small MoM increase in imports aided in the decline of the trade deficit. Auto supply chains continue to be lacking, following the Japanese earthquakes, and will likely continue to put downward pressure onTue, 12 Jul 2011 11:16:09 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-07-12.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-07-04.htmlWeek Ahead ISM Non-Manufacturing Index (June, Wednesday 10:00 ET) Forecast: 54.0 Consensus: 53.6 Previous: 54.6 The ISM Non-Manufacturing composite index increased 1.8pp in May to 54.6. A composite index above 50 indicates that the service sector is expanding. Employment in the service sector continues to grow as suggested by the employment index, which increased from 51.9 to 54.0 in May. However, the general slowdown in economic activity will be offset by the seasonal spending, thus we expectMon, 04 Jul 2011 08:48:36 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-07-04.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-06-27.htmlWeek Ahead Personal Income and Spending (May, Monday 8:30 ET) Forecast: 0.4%, 0.2% Consensus: 0.4%, 0.1% Previous: 0.4%, 0.4% Preliminary estimates for April indicate personal income, disposable personal income (DPI), and personal consumption expenditures increased 0.4%, 0.3%, and 0.4% MoM, respectively. In real terms, DPI was unchanged while personal consumption expenditures (PCE) increased only 0.1% MoM. The revised March estimates were comparable to the preliminary April release, but withMon, 27 Jun 2011 07:25:08 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-06-27.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-06-20.htmlWeek Ahead Existing Home Sales (May, Tuesday 10 ET) Forecast: 4.9M Consensus: 4.8M Previous: 5.0M Next week the National Associations of Realtors will release existing home sales data for May. The wide dispersion of consensus estimates, ranging from an 8.9% MoM decline to a 2.4% MoM gain, embody the uncertainty surrounding the real estate market. Ample supply of pricereduced or distressed properties should positively impact existing home sales. Nevertheless, low consumer expectations, weakMon, 20 Jun 2011 06:25:18 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-06-20.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-06-13.htmlWeek Ahead Retail Sales (May, Tuesday 8:30 ET) Forecast: -0.4% Consensus: -0.3% Previous: 0.5% Retail sales remained robust, increasing by 0.5% MoM in April. The increase continued ten consecutive months of growth. Unnerving nonfarm payroll data and declining consumer confidence present significant downside risk to retail sales for the month of May. Moreover, disappointing auto sales, a slight decline in gas prices and a relatively small increase in consumer prices could also drag down retailMon, 13 Jun 2011 05:59:00 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-06-13.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-06-06.htmlWeek Ahead Consumer Credit (April, Tuesday 15:00 ET) Forecast: $6.2B Consensus: $5.5B Previous: $6.0B We expect total outstanding seasonally-adjusted consumer credit to increase MoM by $6.2bn to $2431.7bn, which will represent acceleration in YoY terms but a stabilization based on monthly annualized rates. Consumer expenditures most likely weathered the increase in oil prices during April, but given ongoing uncertainty in the labor market they are likely still cautious of taking onMon, 06 Jun 2011 06:22:49 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-06-06.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-05-30.htmlWeek Ahead S&P Case-Shiller House Price Index (March, Tuesday 09:00 ET) Forecast: -3.8% Consensus: -3.4% Previous: -3.3% The S&P Case-Shiller 20-city composite house price index is expected to decline again in March by showing a yearly depreciation of -3.8%. Prices are affected by the large amount of distressed properties that are currently in the market; in fact, in the first quarter of 2011, they accounted for one every three houses sold. The financial institutions are processingMon, 30 May 2011 06:28:41 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-05-30.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-05-23.htmlWeek Ahead New Home Sales (April, Tuesday 10:00 ET) Forecast: 295K Consensus: 300K Previous: 300K New home sales are expected to continue to display weakness as demand is focusing mainly on the existing homes market and mortgage credit standards remain tight. As a result, new home sales will slightly decline in April to 295K from 300K. Since the end of the tax credit incentives in the first half of 2010, new home sales have averaged around 30OK units (annualized), far below the forty-yearMon, 23 May 2011 07:04:23 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-05-23.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-05-16.htmlWeek Ahead Empire State Manufacturing Index (May, Monday 08:30 ET) Forecast: 18.5 Consensus: 19.9 Previous: 21.7 The Empire State Manufacturing Index is expected to decline but remain positive in May, indicating that more manufacturers consider business conditions to be improving. The index is one of the first regional indices to be released for May and will give valuable information about economic activity in the manufacturing sector. We expect that economic activity in 2Q11 will be strongerMon, 16 May 2011 06:50:53 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-05-16.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-05-09.htmlWeek Ahead Wholesale Inventories (March, Tuesday 10:00 ET) Forecast: 1.1% Consensus: 1.0% Previous: 1.0% The Bureau of Economic Analysis (BEA) estimated that private sector inventories increased by $43.8bn in real terms in 1Q11. Wholesale inventories have increased since the start of 2010 and we expect them to follow their current positive trend. We forecast a 1.1% MoM increase in wholesale inventories in March, estimate. Retail Sales (April, Thursday 08:30 ET) Forecast: 0.8% Consensus: 0.6%Mon, 09 May 2011 07:45:54 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-05-09.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-05-02.htmlWeek Ahead Construction Spending (March, Monday 10:00 ET) Forecast: 0.8% Consensus: 0.4% Previous: -1.4% Construction spending will grow 0.8% MoM in March due to a slight increase in public expenditures for infrastructure projects while private nonresidential construction will remain slow even though spending increased 0.9% in February. Residential building may rise as well as housing starts increased in March but non residential building will still remain weak for several months. However, theMon, 02 May 2011 09:00:11 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-05-02.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-04-26.htmlWeek Ahead Case-Shiller 20-city Index (February, Tuesday 08:30 ET) Forecast: -3.1% Consensus: -3.2% Previous: -3.1% In February, we expect the home price index to drop for the seventh consecutive month as housing demand remains weak and concentrated on distressed properties. From the July peak, the home price index has depreciated 6.2% and the trend may continue for several more months. However, this price depreciation has made houses more affordable, suggesting demand may not fall much more.Tue, 26 Apr 2011 06:43:27 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-04-26.htmlhttp://www.fxstreet.com/fundamental/market-view/week-ahead/2011-04-18.htmlWeek Ahead Housing Starts (March, Tuesday 08:30 ET) Forecast: 520K Consensus: 525K Previous: 479K Housing starts and building permits are expected to increase in March after falling significantly in the previous month. The housing market continues to struggle with foreclosures despite robust economic recovery. Significant declines in existing home prices attract buyers and limit demand for new homes and therefore, we expect housing starts and building permits to improve but remain weakMon, 18 Apr 2011 07:00:21 GMThttp://www.fxstreet.com/fundamental/market-view/e.economicos@bbva.bancomer.com (BBVA Bancomer)http://www.fxstreet.com/fundamental/market-view/week-ahead/2011-04-18.html