US Economic Calendar: Focus on Housing Market, Manufacturing, and Federal Reserve Meeting Minutes This Week, with Tariff Risks Looming

(1) This week, U.S. economic data will be released intensively. On Monday, the New York Federal Reserve Manufacturing Index and NAHB Housing Market Index will be announced. The former is expected by the market to decline compared to the previous value, while the latter is anticipated to remain unchanged at 34. Meanwhile, the Federal Reserve Board will hold a closed-door meeting. (2) Tuesday will see a concentration of housing data releases. The market expects July new housing starts to fall month-on-month, building permits to remain basically unchanged, industrial production to rise month-on-month, capacity utilization to see a slight increase, and the import price index to increase moderately. (3) On Wednesday, the U.S. plans to impose tariffs on most Canadian goods. On the same day, the Federal Reserve will release the July meeting minutes, from which the market will seek more clues regarding the future path of interest rates. The EIA crude oil inventory report will also be released. (4) Thursday's focus is on initial jobless claims, which the market expects to slightly decline compared to the previous value. The Philadelphia Fed Manufacturing Index is expected to drop to 25, significantly lower than the previous value, while the leading indicators' monthly rate is likely to remain unchanged. (5) On Friday, Markit will release the preliminary U.S. Manufacturing and Services PMI for August, which the market expects will show slight improvement compared to previous values, alongside the announcement of July employment and unemployment data for each state. (6) Overall, real estate, manufacturing, and employment data will provide further verification of the economic situation this month, while tariff implementation and the tone of the Federal Reserve minutes may act as additional variables influencing market risk preference.