Monday's Events: U.S. Pending Home Sales
Both the Canadian and U.S. housing sectors will kick off the week, with Canadian markets receiving May housing starts, with the U.S. expecting data on pending home sales for April.
At 8:15 a.m. EDT, the Canadian Mortgage and Housing Corporation will release May housing starts, which economists expect to total 217.5k compared to the previous month's 213.9k level.
At 8:30 a.m. EDT, markets will hear from Bank of France President Christian Noyer speaking on the role of Central Banks at the International Economic Forum of the Americas in Montreal. He will be joined by former Fed Chairman Paul Volker.
At 10 a.m. EDT, the National Association of Realtors
will release U.S. pending home sales for April. The consensus is looking for a 0.3% month-over-month decline compared to the previous month's 1.0% pullback.
At 11 a.m. EDT, Swiss National Bank Governing Board member Thomas Jordan will speak on the U.S. housing crisis and implications for Switzerland in Lausanne, Switzerland
At 12:15 p.m. EDT, New York Fed President and FOMC Vice Chairman Tim Geithner will speak at the Economic Club of New York in New York, NY. An audience Q&A will follow.
At 12:30 p.m. EDT European Central Bank President Jean-Claude Trichet will speak at the "Forum for New Diplomacy" in Paris
At 1 p.m. EDT, the U.S. Treasury will sell $24 billion in three-month and $24 billion in six month bills.
At 5 p.m. EDT, Boston Fed President Eric Rosengren (non-voter) will deliver opening remarks and the Bank's 53rd annual research conference titled, "Understanding Inflation and the Implications for Monetary Policy: A Philips Curve Retrospective", in Chatham, Massachusetts.
At 8:15 p.m. EDT Fed Chairman Ben Bernanke will speak on "Outstanding Issues in the Analysis of Inflation" at the Boston Fed's annual research conference
8:15 CA Housing Starts May Exp: 215.5K Prior: 213.9K
10:00 US Pending Home Sales (M/M) April Exp: -0.6% Prior: -1.0%
12:15 US Fed's Geithner Speaks About Economy at Grand Hyatt in New York
13:00 US Treasury to Sell $24B 3-Month Bills
13:00 US Treasury to Sell $24B 6-Month Bills
13:30 CA Department of Finance media briefing ahead of G8 Finance Ministers Meeting, June 13-14
17:00 US Fed's Rosengren Gives Welcome Remarks at Bank's Conference
20:15 US Bernanke Speaks at Boston Fed Conference on Inflation
By Steve Stecyk and edited by Cristina Markham