The key reports this week are July CPI and the June Trade Deficit.
—– Monday, August 7th —–
No major economic releases scheduled.
This graph shows the U.S. trade deficit, with and without petroleum, through the most recent report. The blue line is the total deficit, and the black line is the petroleum deficit, and the red line is the trade deficit ex-petroleum products.
The consensus is the trade deficit to be $65.7 billion. The U.S. trade deficit was at $69.0 Billion the previous month.
11:00 AM: NY Fed: Q2 Quarterly Report on Household Debt and Credit
—– Wednesday, August 9th —–
7:00 AM ET: The Mortgage Bankers Association (MBA) will release the results for the mortgage purchase applications index.
—– Thursday, August 10th —–
8:30 AM: The initial weekly unemployment claims report will be released. The consensus is for 236 thousand initial claims, up from 227 thousand last week.
8:30 AM: The Consumer Price Index for July from the BLS. The consensus is for a 0.2% increase in CPI, and a 0.2% increase in core CPI. The consensus is for CPI to be up 3.2% year-over-year and core CPI to be up 4.8% YoY.
12:00 PM: (expected) MBA Q2 National Delinquency Survey
—– Friday, August 11th —–
8:30 AM: The Producer Price Index for July from the BLS. The consensus is for a 0.2% increase in PPI, and a 0.2% increase in core PPI.
10:00 AM: University of Michigan’s Consumer sentiment index (Preliminary for August)