Wednesday Events: Housing Starts and Building Permits, NAR Real Estate

By: • Wed, Sep 17 2008, 9:03 AM

Today's reports will focus on the state of housing sector in the U.S. with the release of the U.S housing starts and building permits along with the release of the National Association of Realtors quarterly commercial real estate market forecast.

At 8:30 a.m. EDT, Statistics Canada's International Securities transactions are expected to rise C$5.5 billion in July after June's C$7.247 billion increase.

At 8:30 a.m. EDT, the U.S. Commerce Department will release the current account balance for the second quarter of 2008. Economists are expecting an increase to -$180.0 billion compared to the previous -176.4 billion level.

At 8:30 a.m. EDT, the U.S. Department of Commerce will release housing starts and building permits for August. The consensus is looking for starts to total 950k compared to the previous month's 965k level.

At 8:30 a.m. EDT, the U.S. Department of Commerce will release housing starts and building permits for August. Building permits are projected to have totaled 928k in August compared to July's 937k level.

At 10:00 a.m. EDT, the National Association of Realtors will release its quarterly commercial real estate market forecast.

10:35 a.m. EDT, the Department of Energy will release crude oil inventories for the week ending September 12. Crude oil inventories are expected to fall by 3500K barrels compared from last week's -5828K level.

At 10:35 a.m. EDT, the Department of Energy will release gasoline inventories for the week ending September 12. Gasoline inventories are expected to fall by 3500K barrels compared from last week's -6462K level.

At 10:35 a.m. EDT, the Department of Energy will release distillate inventories for the week ending September 12. Distillate inventories are expected to fall by 1900K barrels compared from last week's -1252K level.

At 10:35 a.m. EDT, the Department of Energy will release refinery utilization for the week ending September 12. Refinery utilization is expected to fall by 2.00% compared from last week's -10.41% figure.

All times in EDT

7:00 US MBA Mortgage Applications Prior: +9.5%

8:30 CA International Securities Transactions July Exp: C$5.500B Prior: C$7.247B

8:30 US Current Account Balance Q2 Exp: -$180.0B Prior: -$176.4B

8:30 US Housing Starts August Exp: 950k Prior: 965k

8:30 US Building Permits August Exp: 927k Prior: 937k

10:00 US FDIC's Bair & Fed's Duke Testify on Home-Loan Program

10:35 US DOE U.S. Crude Oil Inventories W/E September 12 Exp.: -3500k Prior: -5828k

10:35 US DOE U.S. Gasoline Inventories W/E September 12 Exp: -3500k Prior: -6462k

10:35 US DOE U.S. Distillate Inventory W/E September 12 Exp:-1900k Prior: -1252k

10:35 US DOE U.S. Refinery Utilization W/E September 12 Exp:-2.00% Prior: -10.41