New Home Sales

Key economic data for the third week of April 2010 starting April 19th, 2010. The coming week is not rich on economic reports.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
04/19/10 10:00 AM	Leading Indicators	Mar	1.0%	0.1%
04/21/10 10:30 AM	Crude Inventories	04/17	NA	-2.20M
04/22/10 8:30 AM	Initial Claims	04/17	455K	484K
04/22/10 8:30 AM	Continuing Claims	04/10	4600K	4639K
04/22/10 8:30 AM	PPI	Mar	0.5%	-0.6%
04/22/10 8:30 AM	Core PPI	Mar	0.1%	0.1%
04/22/10 10:00 AM	Existing Home Sales	Mar	5.30M	5.02M
04/22/10 10:00 AM	FHFA Home Price Index	Feb	-0.2%	-0.6%
04/23/10 8:30 AM	Durable Orders	Mar	0.2%	0.9%
04/23/10 8:30 AM	Durable Orders ex auto	Mar	0.6%	1.4%
04/23/10 10:00 AM	New Home Sales	Mar	325K	308K

Beige Book

Key economic data for the second week of April 2010 starting April 12th, 2010. The coming week is not rich on economic reports. Next week is an options expiration week.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
04/12/10 2:00 PM	Treasury Budget	Mar	$67.5B	-$191.6B
04/13/10 8:30 AM	Export Prices ex-ag.	Mar	NA	-0.2%
04/13/10 8:30 AM	Import Prices ex-oil	Mar	NA	0.2%
04/13/10 8:30 AM	Trade Balance	Feb	-$39.0B	-$37.3B
04/14/10 2:00 PM	Fed's Beige Book	Apr	NA	NA
04/14/10 8:30 AM	CPI	Mar	0.1%	0.0%
04/14/10 8:30 AM	Core CPI	Mar	0.1%	0.1%
04/14/10 8:30 AM	Retail Sales	Mar	1.1%	0.3%
04/14/10 8:30 AM	Retail Sales ex-auto	Mar	0.5%	0.8%
04/14/10 10:00 AM	Business Inventories	Feb	0.3%	0.0%
04/14/10 10:30 AM	Crude Inventories	04/10	NA	1.98M
04/15/10 8:30 AM	Continuing Claims	04/03	4600K	4550K
04/15/10 8:30 AM	Initial Claims	04/10	440K	460K
04/15/10 9:00 AM	Net Long-Term TIC Flows	Jan	NA	$19.1B
04/15/10 9:15 AM	Capacity Utilization	Mar	73.3%	72.7%
04/15/10 9:15 AM	Industrial Production	Mar	0.7%	0.1%
04/15/10 10:00 AM	Philadelphia Fed	Apr	20.0	18.9
04/16/10 8:30 AM	Building Permits	Mar	626K	637K
04/16/10 8:30 AM	Housing Starts	Mar	610K	575K
04/16/10 9:55 AM	Mich Sentiment	Apr	75.0	73.6

FOMC Meeting

Key economic data for the first week week of April 2010 starting April 5th, 2010. The coming week is not rich on economic reports.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
04/05/10 10:00 AM	ISM Services	Mar	53.6	50.0
04/05/10 10:00 AM	Pending Home Sales	Feb	-1.0%	-7.6%
04/06/10 2:00 PM	Minutes of FOMC Meeting
04/07/10 3:00 PM	Consumer Credit	Feb	$1.6B	$5.0B
04/07/10 10:30 AM	Crude Inventories	04/03	NA	2.93M
04/08/10 8:30 AM	Continuing Claims	03/27	NA	4662K
04/08/10 8:30 AM	Initial Claims	04/03	433K	439K
04/09/10 10:00 AM	Wholesale Inventories	Feb	0.3%	-0.1%

Income, Emplyment and consumer Confidence

Key economic data for the last week of March and first week of April 2010 starting March 29th, 2010.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
03/29/10 8:30 AM	Personal Income	Feb	0.1%	0.1%
03/29/10 8:30 AM	Personal Spending	Feb	0.3%	0.5%
03/29/10 8:30 AM	PCE Prices - Core	Feb	0.1%	0.0%
03/30/10 9:00 AM	Case-Shiller 20-city Index	Jan	-0.6%	-3.1%
03/30/10 10:00 AM	Consumer Confidence	Mar	50.0	46.0
03/31/10 8:15 AM	ADP Employment Change	Mar	40K	-20K
03/31/10 9:45 AM	Chicago PMI	Mar	61.0	62.6
03/31/10 10:00 AM	Factory Orders	Feb	0.5%	1.7%
03/31/10 10:30 AM	Crude Inventories	03/27	NA	7.25M
04/01/10 2:00 PM	Auto Sales	Mar	NA	3.7M
04/01/10 2:00 PM	Truck Sales	Mar	NA	4.2M
04/01/10 8:30 AM	Continuing Claims	03/20	4600K	4648K
04/01/10 8:30 AM	Initial Claims	03/27	440K	442K
04/01/10 10:00 AM	Construction Spending	Feb	-1.0%	-0.6%
04/01/10 10:00 AM	ISM Index	Mar	57.0	56.5
04/02/10 8:30 AM	Nonfarm Payrolls	Mar	190K	-36K
04/02/10 8:30 AM	Unemployment Rate	Mar	9.7%	9.7%
04/02/10 8:30 AM	Average Workweek	Mar	33.9	33.8
04/02/10 8:30 AM	Hourly Earnings	Mar	0.2%	0.1%

Home Sales

Key economic data for the forth week of March 2010 starting March 23rd, 2010. There are no economic news on Monday March 22nd, 2010.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
03/23/10 10:00 AM	Existing Home Sales	Feb	5.00M	5.05M
03/23/10 10:00 AM	FHFA Home Price Index	Jan	-0.9%	-1.6%
03/24/10 8:30 AM	Durable Orders	Feb	0.5%	2.6%
03/24/10 8:30 AM	Durable Orders ex Auto	Feb	0.5%	-1.0%
03/24/10 10:00 AM	New Home Sales	Feb	315K	309K
03/24/10 10:30 AM	Crude Inventories	03/20	NA	1.01M
03/25/10 8:30 AM	Continuing Claims	03/13	4560K	4579K
03/25/10 8:30 AM	Initial Claims	03/20	450K	457K
03/26/10 8:30 AM	GDP - Third Estimate	Q4	5.9%	5.9
03/26/10 8:30 AM	GDP Deflator - Third Estimate	Q4	0.4%	0.4%
03/26/10 9:55 AM	Michigan Sentiment - Final	Mar	73.0	72.5

Philadelphia Fed Index

Philadelphia Fed Index is tracked by the Philadelphia Federal-Reserve Bank (headquartered in Philadelphia, Pennsylvania) and is based on the survey of voluntary participants regarding the direction of change in their overall business activities. This is a regional survey and it covers the Pennsylvania, New Jersey and Delaware regions. The survey measures regional manufacturing growth and covers answer on such questions as employment, new orders, shipments, inventories, prices paid, etc.

The Fed report is one of the most watched reports and one of the most respected of all the regional purchasing manager reports. The Philadelphia Fed Index above zero indicates factory-sector growth, and the Philadelphia Fed Index below zero indicates contraction.

The Philadelphia Fed Index  (also known as the "Business Outlook Survey") is published on monthly basis on the third Thursday of the month and it is considered to be a good barometer of general business conditions.

Triple Witching Week

Key economic data for the third  week of March 2010 starting March 15th, 2010. On Friday March 19, 2010 we have expiration of options. This week know as Triple Witching week, as options, index options and futures will expire during this week.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
03/15/10 8:30 AM	Empire Manufacturing Survey	Mar	21.45	24.91
03/15/10 9:00 AM	Net Long-Term TIC Flows	Dec	$50.0B	$63.3B
03/15/10 9:15 AM	Capacity Utilization	Feb	72.6%	72.6%
03/15/10 9:15 AM	Industrial Production	Feb	0.0%	0.9%
03/16/10 2:15 PM	FOMC Rate Decision	Mar 16	0.25%	0.25%
03/16/10 8:30 AM	Building Permits	Feb	602K	622K
03/16/10 8:30 AM	Housing Starts	Feb	570K	591K
03/16/10 8:30 AM	Import Prices ex-oil	Feb	NA	0.4%
03/16/10 8:30 AM	Export Prices ex-ag.	Feb	NA	0.7%
03/17/10 8:30 AM	Core PPI	Feb	0.1%	0.3%
03/17/10 8:30 AM	PPI	Feb	-0.2%	1.4%
03/17/10 10:30 AM	Crude Inventories	03/13	NA	1.43M
03/18/10 8:30 AM	Core CPI	Feb	0.1%	-0.1%
03/18/10 8:30 AM	CPI	Feb	0.1%	0.2%
03/18/10 8:30 AM	Initial Claims	03/13	450K	462K
03/18/10 8:30 AM	Continuing Claims	03/6	4500K	4558K
03/18/10 8:30 AM	Current Account Balance	Q4	-$120.0B	-$108.0B
03/18/10 10:00 AM	Leading Indicators	Feb	0.1%	0.3%
03/18/10 10:00 AM	Philadelphia Fed	Mar	18.0	17.6

Retail Sales

The Census Bureau releases the Retail Sales data that measure the merchandise sold by companies. The Retailed Sales report is published on monthly basis and is considered as an indicator of the U.S. economy. It includes all retail operations (for cash or credit at retail or wholesale) in the nation, from Wal-Mart to the local bookstore.

The Retail Sales Data measures the amount of goods being sold by establishments primarily engaged in retail trade each month in the United States. It does not include sales at retail by manufacturers, wholesalers, service establishments, and others whose primary activity is other than retail trade.

Treasury Budget

Key economic data for the second week of March 2010 starting March 8th, 2010. The coming week is not rich on economic reports.

Economic Calendar key:
Consensus represents the market consensus estimate for each indicator.
Prior represents the last actual for each indicator.

Date	Release	For	Consensus	Prior
03/10/10 2:00 PM	Treasury Budget	Feb	-$210.0B	-$42.6B
03/10/10 10:00 AM	Wholesale Inventories	Jan	0.2%	-0.8%
03/10/10 10:30 AM	Crude Inventories	03/06	NA	4.03M
03/11/10 8:30 AM	Continuing Claims	2/27	4495K	4500K
03/11/10 8:30 AM	Initial Claims	03/06	460K	469K
03/11/10 8:30 AM	Trade Balance	Jan	-$41.0B	-$40.2B
03/12/10 8:30 AM	Retail Sales	Feb	0.2%	0.5%
03/12/10 8:30 AM	Retail Sales ex-auto	Feb	0.0%	0.6%
03/12/10 9:55 AM	Mich Sentiment	Mar	73.8	73.6
03/12/10 10:00 AM	Business Inventories	Jan	0.2%	-0.2%

Pending Home Sale

In January 2005, the National Association of Realtors (NAR) introduced a new series of reports to overcome the lagging effect of the existing home sales definition. The new report is called Pending Home Sales and is published on monthly basis (first week of the month). The Pending Home Sales data are based on sales of existing homes where the contract has been signed (house was sold on paper) but the transaction has not been closed, which could be considered roughly equivalent to the new home sales. When a home sale contract is sign a broker considers it as a sale and reports it as a sale. However, until transaction is not closed this sale is considered as pending and not closed. Taking into account that some sales contracts are never consummated, pending contract cannot be considered as existing home sale.

The pending Home Sales data are are expressed as an index and were recalculated back to 2001 where the the index has been set to equal 100.0. The Pending Home Sales Index (PHSI) is considered as leading indicator of the activity in the housing market and this index is used to predict Existing Home Sales (Pending becomes Existing in several months) as well as predict actual home sales activity.