The economic week ahead

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The only government report to be released today is from the Federal Reserve, focusing on industrial production for August.

Tomorrow, the Labor Department releases the Consumer Price Index for August and the National Association of Home Builders comes out with its housing market index for September. Also tomorrow, Federal Reserve policymakers begin a two-day meeting to set interest rates.

On Wednesday, Fed policymakers continue their two-day meeting on interest rates and the Commerce Department releases housing starts for August.

In Brussels, the European Commission presents its draft legislation on financial benchmarks which aims to prevent further manipulation as was revealed in the case of the LIBOR (LY'-bor), the critical rate banks use to borrow from each other.

In business news, FedEx reports its quarterly earnings before the market opens Wednesday and Oracle reports its financial data after the market closes.

On Thursday, investors will focus on the government's weekly jobless claims report. But many traders will be interested in the Commerce Department's current account trade deficit data for the second quarter. Also on Thursday, Freddie Mac releases weekly mortgage rates, the Conference Board is out with August's leading economic indicators and the National Association of Realtors reports on existing home sales for August.

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