US DATA: PREVIEW OF THE WEEK: (1 of 3) In the final week of October, the
economic data may have a little trouble keeping market attention as the
November 2-3 FOMC meeting nears. None of it is likely to sway opinion
that further easing in policy is on the way in the form of large-scale
asset purchases, but should the numbers on housing and consumer
confidence be stronger than expected, it will add an element of
uncertainty. For most financial markets, the data on the housing market
will probably dominate the week with existing homes set for release on
Monday and sales of new single-family homes on Wednesday. Home prices
data includes the S&P/Case-Shiller Home Price Index and the FHFA House
Price Index on Tuesday. Consumer confidence is struggling to regain
ground in the last few months. The onset of the election season with its
attendant heightening of uncertainties in regard to the future will make
it difficult to see any improvement in overall conditions. The
Conference Board’s Consumer Confidence Index is due on Tuesday, and the
final Reuters/University of Michigan Consumer Sentiment on Friday.