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U.S. Economic Calendar Event Update - Jan 17

Thursday, January 17, 2013 8:48 AM

These are the U.S. economic calendar events for Thursday, January 17, 2013. All times are EST.

Building Permits for Dec are scheduled to be released at 8:30 AM. Analysts are estimating a result of 905K. The prior period for Building Permits had a result of 899K. This event has a moderate effect on US markets.

Continuing Claims for the week ending on 01/05 are scheduled to be released at 8:30 AM. Analysts are estimating a result of 3100K. The prior period for Continuing Claims had a result of 3109K. This event has a moderate effect on US markets.

Housing Starts for Dec are scheduled to be released at 8:30 AM. Analysts are estimating a result of 889K. The prior period for Housing Starts had a result of 861K. This event has a moderate effect on US markets.

Initial Claims for the week ending on 01/12 are scheduled to be released at 8:30 AM. Analysts are estimating a result of 370K. The prior period for Initial Claims had a result of 371K. This event has a moderate effect on US markets.

Philadelphia Fed for Jan are scheduled to be released at 10:00 AM. Analysts are estimating a result of 5.2. The prior period for Philadelphia Fed had a result of 4.6. This event has a moderate effect on US markets.

At the release of important events, US equity markets (INDEXSP:.INX) can make major moves. Be sure to keep an eye on S&P (NYSEARCA:SPY), Nasdaq (NYSEARCA:QQQ) and Dow Jones (NYSEARCA:DIA) at the time of announcements.

Here is some more information about the events discussion in this article.

Building Permits: Building permits are permits taken out in order to allow excavation. An increase in building permits and starts usually occurs a few months after a reduction in mortgage rates. Permits lead starts, but permits are not required in all regions of the country, and the level of permits therefore tends to be less than the level of starts over time. The monthly national report is broken down by region: Northeast, Midwest, South, and West. Briefing recommends analyzing the regional data because they are subject to a high degree of volatility. The high volatility can be attributed to weather changes and/or natural disasters. For example, an unexpectedly high level of rain in South could delay housing starts for the region.

Continuing Claims: An indicator derived from weekly unemployment data used to gauge the current state and direction of employment. The data, supplied by the Department of Labor, consists of those people who have filed a claim and who are still receiving benefits. Critics point to the volatility of the data which makes it somewhat imprecise as a snapshot of employment conditions. When combined with other indicators onto a four-week moving average, it provides a clearer indication. Read more: http://www.businessdictionary.com/definition/continuing-An indicator derived from weekly unemployment data used to gauge the current state and direction of employment. The data, supplied by the Department of Labor, consists of those people who have filed a claim and who are still receiving benefits. Critics point to the volatility of the data which makes it somewhat imprecise as a snapshot of employment conditions. When combined with other indicators onto a four-week moving average, it provides a clearer indication.

Housing Starts: Housing Starts are a measure of the number of residential units on which construction is begun each month. A start in construction is defined as the beginning of excavation of the foundation for the building and is comprised primarily of residential housing.

Initial Claims: Initial jobless claims measure the number of filings for state jobless benefits. This report provides a timely, but often misleading, indicator of the direction of the economy, with increases (decreases) in claims potential signalling slowing (accelerating) job growth. On a week-to-week basis, claims are quite volatile, and many analysts therefore track a four week moving average to get a better sense of the underlying trend. It typically takes a sustained move of at least 30K in claims to signal a meaningful change in job growth. There are two other statistics in this report -- the number of people receiving state benefits and the insured unemployment rate; neither is watched closely by the market. Some analysts track the number of people receiving state benefits from month to month as a guide for job growth, though this series has a poor track record in predicting the monthly employment report. The insured unemployment rate changes little on a weekly basis and is never a factor for the market.

Philadelphia Fed: Survey conducted by the Philadelphia Fed questioning manufacturers in the Third Federal Reserve District on general business conditions. Conducted since 1968, the "Philly Fed" survey is an established report, valued for its timeliness, scope of coverage and tendency to forecast developments in the market moving ISM Manufacturing figure. Higher Philadelphia Fed Survey figures indicate a positive outlook from manufacturers, suggesting increased production. Higher production contributes to economic growth, which is generally bullish for the dollar. Results are calculated as the difference between percentage of positive and negative scores; zero acts as the centerline point.

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