Schedule for Week of July 21st

The key reports this week are the June existing home sales on Monday, and the June new home sales report on Wednesday.

For manufacturing, the Richmond and Kansas City regional manufacturing surveys for July will be released this week.

----- Monday, July 22nd -----
8:30 AM ET: Chicago Fed National Activity Index for June. This is a composite index of other data.

10:00 AM: Existing Home Sales for June from the National Association of Realtors (NAR).

The consensus is for sales of 5.27 million on seasonally adjusted annual rate (SAAR) basis. Sales in May were at a 5.18 million SAAR.   Economist Tom Lawler is estimating the NAR will report a June sales rate of 4.99 million.

A key will be inventory and months-of-supply.

----- Tuesday, July 23rd -----
9:00 AM: FHFA House Price Index for May 2013. This was original a GSE only repeat sales, however there is also an expanded index that deserves more attention. The consensus is for a 0.8% increase

10:00 AM: Richmond Fed Survey of Manufacturing Activity for July. The consensus is for a reading of 8 for this survey, unchanged from June (Above zero is expansion).

----- Wednesday, July 24th -----
7:00 AM: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.

9:00 AM: The Markit US PMI Manufacturing Index Flash for July. The consensus is for an increase to 52.8 from 52.2 in June.

10:00 AM: New Home Sales for June from the Census Bureau.

This graph shows New Home Sales since 1963. The dashed line is the May sales rate.

The consensus is for an increase in sales to 481 thousand Seasonally Adjusted Annual Rate (SAAR) in June from 476 thousand in May.

During the day: The AIA's Architecture Billings Index for June (a leading indicator for commercial real estate).

----- Thursday, July 25th -----
8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for an increase to 341 thousand from 334 thousand last week.

8:30 AM: Durable Goods Orders for June from the Census Bureau. The consensus is for a 1.5% increase in durable goods orders.

11:00 AM: Kansas City Fed Survey of Manufacturing Activity for July. The consensus is for a reading of 0 for this survey, up from minus 5 in June (Above zero is expansion).

----- Friday, July 26th -----
9:55 AM: Reuter's/University of Michigan's Consumer sentiment index (final for July). The consensus is for a reading of 84.0.