Economic Events on July 18, 2012

The Mortgage Bankers’ Association purchase index will be released at 7:00 AM Eastern time, providing an update on the quantity of new mortgages and refinancings closed in the last week.

At 8:30 AM Eastern time, the Housing Starts report for June will be released.  The consensus is that construction on 745,000 new homes were started last month, which would be an increase of 37,000 from the previous month.

At 10:00 AM Eastern time, Federal Reserve Chairman Ben Bernanke will deliver his semi-annual monetary policy testimony to the House Financial Services Committee.

At 10:30 AM Eastern time, the weekly Energy Information Administration Petroleum Status Report will be released, giving investors an update on oil inventories in the United States.

At 2:00 PM Eastern time, the Beige Book report will be released, giving us more information about economic conditions in each Federal Reserve district in advance of the next Fed meeting.

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