U.S. Data Slate, Week of June 17: t
U.S. Data Slate, Week of June 17: the FOMC meeting will highlight the slate, while data will include the early June sentiment surveys, and some housing reports. The Fed is unlikely to act on rates this month, but the statement will scrutinized for near term easing signals. Analysts do expect a dovish tone, given trade tensions and heightened uncertainty in the financial markets that the Fed won't want to exacerbate. As for the data, the numbers should provide a neutral backdrop for policymakers. Analysts expect small declines in the Empire State and Philly Fed indices, after big gains in May that bucked headwinds from the resumed trade war. For housing, analysts expect modest May upticks for housing starts and permits, followed by a larger May bounce for existing home sales after an April down-tick.