US house prices

In the US, the main focus will be on the Federal Open Market Committee meeting on Wednesday. New home sales figures and MBA mortgage applications are all to be released this week. Besides, the S&P Case Shiller Home Price Index is likely to confirm a trend of declining prices.

The week's economic schedule will also feature some consumer data in terms of income, spending and consumption. The University of Michigan Confidence survey should provide an insight to the consumer expectations on the overall US economy along with other confidence surveys. Market participants will take a view on the activity front through the release of the durable goods order. The initial and continuing claims will close this week's data schedule.

In the UK, the Confederation of British Industry's distributive trades report due this week will provide an indication of the UK spending pattern. Meanwhile, markets will obtain data on net consumer credit in September and some housing-related data. The Gfk consumer confidence survey along with the M4 money supply is out this week.

In Europe, the economic schedule is inclined to a number of confidence indicators including consumer, industrial, services and economic confidence surveys along with the business climate indicator survey. The unemployment rate for September should give guidance on the deterioration of the labour market on the continent.

Markets will be awaiting figures relating to the Eurozone Consumer Price Index (CPI) estimate for October.

The week's data release will be closed with the release of the Eurozone retail Purchasing Manager Index (PMI) by providing markets with a view on the area wide consumer spending patterns and retail sector economic growth.

This article has been prepared by Bank of Valletta plc, which is licensed to conduct investment services business by the MFSA, for your general information only. This information is not a solicitation or offer by the bank to acquire or sell securities, nor does it constitute any form of advice by the bank. Appropriate advice should be obtained before making any such decision. Past performance is not necessarily a guide to future performance and the value of your investments may fall or rise.