Economy Week Ahead: ECB, BOJ Meetings; U.S. Existing Home Sales

Date : 01/19/2020 @ 8:29PM
Source : Dow Jones News

Economy Week Ahead: ECB, BOJ Meetings; U.S. Existing Home Sales

By WSJ Staff 

A holiday-shortened week in the U.S. lightens the flow of economic data as financial markets look to consolidate a rally that has sent stocks to record levels.

Monday: U.S. markets and government closed for Martin Luther King Jr. Day.

Tuesday: Japan's central bank releases a policy statement and quarterly outlook for economic activity and prices in the world's third-largest economy. The bank is expected to keep interest rates, which are set slightly below zero, on hold.

Wednesday: The U.S. National Association of Realtors publishes December existing home sales at 10 a.m. ET. With the housing sector experiencing a late-cycle renaissance in recent months -- thanks to low mortgage rates and rising incomes -- economists estimate that 5.45 million homes were sold last month, up 1.9% from November.

Thursday: The European Central Bank releases a policy statement at 7:45 a.m. ET, with ECB President Christine Lagarde slated to hold a news conference at 8:30 a.m. While investors aren't expecting changes in policy, they will be closely watching updates on a strategic review the central bank is undergoing at a time when inflation, interest rates and economic growth are all lower than policy makers would like.

Friday: IHS Markit publishes a round of closely watched measures of January business activity around the world. The firm's purchasing managers' indexes for the U.S., due out at 9:45 a.m., are expected to show very modest slowdowns in both the manufacturing and services sectors, which should remain in expansion territory.


(END) Dow Jones Newswires

January 19, 2020 15:14 ET (20:14 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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