US/Canada Market Update

US events start early, with the MBA Mortgage Application Index for the August 18 week at 1100GMT.

Canadian leading indicators for July are also due at 1230GMT.

US data at 1400GMT includes BLS mass layoffs for July as well as the NAR existing home sales data for July, which is expected to show that the pace of existing home sales slowed to a 6.55 million annual rate in July, the fourth consecutive decline. Supply continues to outpace demand, depressing home sales prices. The falling prices, combined with more stable rates, are keeping buyers on the fence until prices drop further.

Finally, the weekly crude oil stocks data is due at 1430GMT.