Canada: Another decline likely in existing home sales - TDS

Analysts at TDS point out that Canada’s existing home sales data for June will be released at 9:00 ET and while data from the Toronto Real Estate Board has already confirmed another weak month for resale activity, this will give the first look at sales at the national level.

Key Quotes

“While sales activity fell by over 6% m/m in May, another decline is likely due to the weakness in Toronto. International securities transactions for May are the only other release scheduled.”

“US: Empire manufacturing for July is the lone data release and markets are expecting a partial correction to 15.0 from 19.8 after a sharp gain last month.”