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Forecast of Today's Financial and Economic data: the United States releases the initial monthly rate of wholesale inventory in June and the contracted sales index of existing homes.
Jul 29,2020 06:40CST
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Source:SMM
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SMM7 March 29: today's focus on the initial monthly rate of wholesale inventory in the United States in June and the contracted sales index of existing homes.

In terms of data,

API crude oil inventories changed in the week ended July 24 in the United States, and the number of stocks affected the price of oil products that could have an impact on inflation and other economic impacts. The prices of crude oil and oil products will have an important impact on the economy of the United States, a major consumer of the product.

The initial monthly rate of wholesale inventory in the United States in June, which is released once a month by the United States Bureau of Commerce, reflects the change in the total value of items in wholesalers' inventory, which is temporarily idle resources to meet future needs; wholesalers as an intermediary between manufacturers / importers and retailers, their inventory situation can be used as one of the leading indicators of the economy, the rapid growth of wholesale inventory shows that wholesalers are optimistic about the economic outlook.

The monthly rate of contracted sales of existing homes in the US after quarterly adjustment in June was released about a week later than the existing home sales data, but the indicator is more forward-looking because it will not be included in the existing home sales segment until a few weeks after signing the contract. The index rose, suggesting that the US housing market is improving.

EIA crude oil inventory changes in the week ending July 24 in the United States, the increase or decrease in inventory will affect the price of crude oil, which in turn will have an impact on the Canadian dollar, because Canadian crude oil exports account for a large proportion of the economy. The impact is greater than the weekly change in crude oil inventories of the American Petroleum Institute ((API)).

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