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All Eyes Cast to The U.S. Calendar | ForexGen

Monday brings Existing Home Sales that are expected to move higher from 4.85M to 4.92M units waiting to be closed on. Whatever this prints at the market is likely to question how inventory levels are going to drop if Wall Street is not making credit available.
Tuesday brings New Home Sales, expected to hold at 530K, but again the market may only be looking for signs that the U.S. consumer can get credit, more than they are looking at the condition of the housing market. At 14:00 EDT the market also gets to see the Minutes from the recent FOMC rate meeting.
Wednesday brings Durable Goods Orders, and those products manufactured to last more than three years are looking to drop dramatically, reflecting the fact that the U.S. consumer is not consuming to the degree that the economy will need to sustain the U.S. debt levels.
Thursday brings the Gross Domestic Product numbers that reflect the value of all goods and services produced within an economic region. It is these numbers that the Fed is pinning its hopes on to reflect economic growth, and it is these numbers looking to increase from 1.9% to 2.6% that may help the dollar move higher. Quite how the economy is looking to increase by 50% to the expected 2.6% is explained by the fact that this preliminary read is the first of three that run over the next quarter; Preliminary which includes a 70% guess at the number, Advanced which is a 30% guess at the number, and Final, the actual number with no guess work making it up. This 2.6% is made up of 70% guess-work, and that may get slanted to the positive for many reasons.