U.S. third-quarter GDP is expected to remain unchanged from the preliminary -0.5% result. The personal consumption expenditure (PCE) report is also expected to remain in negative territory at -3.7%, while Core PCE is expected to rise 2.6% in the third quarter, also in line with the prior result.

The University of Michigan/Reuters consumer confidence index for December will also be released. Consumer sentiment is expected to drop to 58.8 from 59.1 previously.

Housing continues to be a source of scrutiny in the U.S. U.S. New Home Sales for November are forecast to come in at 415k, down from the prior 433k level. Existing home sales are expected to hit 4.93 million, a drop from the prior 4.98 million sales figure. Housing prices are expected to decrease 1.3% in October, in line with the prior month's decline.

The Richmond Fed will release its manufacturing index for the month of December. The consensus expectation is for manufacturing activity in the U.S. Mid-Atlantic states to deteriorate to a level of -40, after plummeting to a -38 reading in the previous month.

Finally, ABC will release its consumer confidence report at the end of the day. In the prior week, consumer confidence climbed to a reading of -51.

All Times in EST:

Tuesday:

8:30 US GDP (Q/Q) (Annualized) Q3 Final Exp: -0.5% Prior: -0.5%

8:30 US Personal Consumption Q3 Final Exp: -3.7% Prior: -3.7%

8:30 US GDP Price Index Q3 Final Exp: +4.2% Prior: +4.2%

8:30 US Core PCE (Q/Q) Q3 Final Exp: +2.6% Prior: +2.6%

10:00 US University of Michigan/Reuters Confidence December Final Exp: 58.8 Prior: 59.1

10:00 US New Home Sales November Exp: 415K Prior: 433K

10:00 US New Home Sales (M/M) November Exp: -4.2% Prior: -5.3%

10:00 US Existing Home Sales November Exp: 4.93M Prior: 4.98M

10:00 US Existing Home Sales (M/M) November Exp: -1.0% Prior: -3.1%

10:00 US House Price Index (M/M) October Exp: -1.3% Prior: -1.3%

10:00 US Richmond Fed Manufacturing Index December Exp: -40 Prior: -38

10:30 CA BOC to Sell $17 Billion in T-Bill Auction

11:15 CA BOC to Repurchase $500 Million in Bond Repurchase Operation

11:30 US Treasury to Sell $22 Billion 4-Week Bills

13:00 US Treasury to Sell $28 Billion in 5-Year Notes

17:00 US ABC Consumer Confidence W/E December 21 Prior: -51

By Steve Stecyk, This email address is being protected from spam bots, you need Javascript enabled to view it , edited by Sarah Sussman, This email address is being protected from spam bots, you need Javascript enabled to view it

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