Economic Events on August 22, 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 10:00 AM Eastern time, the Existing Home Sales report for July will be released.  The consensus is that existing homes were sold at an annual rate of 4.5 million last month, which would be an increase of 130,000 from the previous month.

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 FOMC Meeting Minutes will be released, which will provide insight into how the Federal Reserve board governors and bank presidents view the economy.

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