Economic Events and Analysis
Week of June 22 - 26
US Calendar: The first part of the week will offer a major update on housing and whether emerging signs of strength are confirmed in Monday's existing home sales report and Tuesday's new home sales report. Manufacturing, which has been getting hit by weak exports, is also a theme of the week with durable goods orders on Tuesday and regional Fed reports on Tuesday, from Richmond, and on Thursday from Kansas City. The consumer gets new indications on Thursday with personal income and outlays and on Friday with consumer sentiment. Of special note will be the PCE price index which is part of the personal income and outlays report, a very closely watched inflation measure that has been very soft.

Global Calendar: Flash June PMIs will be reported for the Eurozone, Germany, France, Japan, China and the United States. Japan will post consumer prices, unemployment and household spending for May. All will be closely monitoring the situation with Greece as the June 30 deadline for repayment to the IMF nears. A hastily announced Eurozone summit will be held on Monday. The goal is to find a solution to Greece's bailout standoff.