Forex calendar
| Time (GMT +1) | Currency | Economic impact | Event | Prev. | Forecast | Actual |
|---|
| 01:01 | GBP | medium | Rightmove HPI m/m | -1.8% | | -1.8% | Measures: Change in the asking price of homes for sale;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, around the middle of the current month;
Next Release: Sep 22, 2008
FF Notes: This is the UK's earliest report on housing inflation, but tends to produce a relatively mild impact because asking prices and selling prices are not always correlated;
Why Traders Care: It's a leading indicator of the housing industry's health because high prices attract investors and spur industry activity;
Acronyms: House Price Index (HPI);
Source. | | 09:15 | CHF | medium | Retail Sales y/y | 7.4% | 3.2% | 0.7% | Measures: Change in the total value of inflation-adjusted sales at the retail level;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, about 45 days after the month ends;
Next Release: Sep 17, 2008
Why Traders Care: It's the primary gauge of consumer spending, which accounts for a majority of overall economic activity;
Also Called: Adjusted Retail Sales;
Source. | | 11:00 | EUR | low | Trade Balance | -1.5B | 0.5B | -1.5B | Measures: Difference in value between imported and exported goods and services during the reported month;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, about 45 days after the month ends;
Next Release: Sep 17, 2008
FF Notes: This is the seasonally adjusted data (as most FF numbers are), not to be confused with the non-seasonally adjusted number reported by some news agencies. Tends to have a muted impact because Germany and France, which account for about half of the Eurozone's economy, release earlier trade data. A positive Trade Balance indicates that more goods and services were exported than imported;
Source. | | 14:30 | CAD | medium | Foreign Securities Purchases | 10.7B | 5.5B | 10.7B | Measures the monthly value of domestic securities, debt, and assets purchased by foreigners.
A rising trend has a positive effect on the nation's currency because foreigners must first convert their domestic currency before they can purchase the nation's assets. This can dramatically elevate currency demand. Traders watch this indicator closely as it provides several insights into international currency flows. Source. | | 19:00 | USD | low | NAHB Housing Market Index | 16 | 16 | 16 | Measures: Level of a diffusion index based on surveyed home builders;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, around the middle of the current month;
Next Release: Sep 16, 2008
FF Notes: Above 50 indicates a favorable outlook on home sales, below indicates a negative outlook;
Derived Via: Survey of about 900 home builders which asks respondents to rate the relative level of current and future single-family home sales;
Acronyms: National Association of Home Builders (NAHB);
Source. |
| Time (GMT +1) | Currency | Economic impact | Event | Prev. | Forecast | Actual |
|---|
| 00:45 | NZD | high | PPI Input q/q | 2.3% | 2.6% | 5.6% | Measures: Change in the price of goods and raw materials purchased by manufacturers;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released quarterly, about 45 days after the quarter ends;
Next Release: Nov 18, 2008
Why Traders Care: It's a leading indicator of consumer inflation - when manufacturers pay more for goods the higher costs are usually passed on to the consumer;
Acronyms: Producer Price Index (PPI);
Source. | | 00:45 | NZD | low | PPI Output q/q | 1.8% | 2.1% | 3.5% | Measures: Change in the price of goods sold by manufacturers;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released quarterly, about 45 days after the quarter ends;
Next Release: Nov 18, 2008
FF Notes: Only includes goods produced domestically;
Also Called: Factory Gate Prices;
Acronyms: Producer Price Index (PPI);
Source. | | 03:30 | AUD | high | RBA Meeting Minutes | | | | The Reserve Bank of Australia (RBA) Meeting Minutes are a detailed record of the committee's interest rate meeting held about two weeks earlier.
The minutes provide detailed insights regarding the RBA's stance on monetary policy, so traders carefully comb them for clues regarding future interest rate shifts. Source. | | 05:30 | JPY | medium | Overnight Call Rate | 0.50% | 0.50% | 0.50% | Measures: Interest rate at which the BOJ rediscounts bills and extends loans to financial institutions;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Variable, about 14 times per year;
Next Release: Sep 17, 2008
FF Notes: The rate shift is often priced in the market so it tends to be overshadowed by the BOJ Press Conference held a few hours later;
Why Traders Care: Short term interest rates are the paramount factor in currency valuation - traders look at most other indicators merely to predict how rates will change in the future;
Derived Via: BOJ Monetary Policy Committee members come to a consensus on where to set the rate;
Also Called: Interest Rates;
Acronyms: Bank of Japan (BOJ);
Source. | | 08:00 | EUR | medium | German PPI m/m | 0.9% | 0.7% | 0.9% | Measures: Change in the price of goods sold by manufacturers;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, about 20 days after the month ends;
Next Release: Sep 19, 2008
Why Traders Care: It's a leading indicator of consumer inflation - when manufacturers charge more for goods the higher costs are usually passed on to the consumer;
Acronyms: Producer Price Index (PPI);
Source. | | 09:20 | JPY | high | BOJ Press Conference | | | | Speaker: BOJ Governor;
Usual Effect: More hawkish than expected = Good for currency;
Frequency: Variable, about 14 times per year;
Next Release: Sep 17, 2008
Why Traders Care: It's among the primary methods the BOJ uses to communicate with investors regarding monetary policy. It covers the factors that affected the most recent interest rate decision, the overall economic outlook, inflation, and clues regarding future monetary policy;
Also Called: Interest Rate Statement;
Acronyms: Bank of Japan (BOJ);
| | 11:00 | EUR | high | German ZEW Economic Sentiment | -63.9 | -62.0 | -63.9 | Zentrum f?r Europ?ische Wirtschaftsforschung (ZEW) Economic Sentiment measures institutional investor sentiment. The monthly indicator reflects the difference between the share of investors that are optimistic and the share of investors that are pessimistic.
For example, if 30% of participants expect the economic situation to improve within the next six months, 30% expect no change and 40% expect the economic situation to deteriorate, the ZEW Indicator of Economic Sentiment would take a value of -10. Thus, a positive number means that the share of optimists outweighs the share of pessimists. Source. | | 11:00 | EUR | medium | ZEW Economic Sentiment | -63.7 | -65.0 | -63.7 | Zentrum f?r Europ?ische Wirtschaftsforschung (ZEW) Economic Sentiment measures institutional investor sentiment. The monthly indicator reflects the difference between the share of investors that are optimistic and the share of investors that are pessimistic.
For example, if 30% of participants expect the economic situation to improve within the next six months, 30% expect no change and 40% expect the economic situation to deteriorate, the ZEW Indicator of Economic Sentiment would take a value of -10. Thus, a positive number means that the share of optimists outweighs the share of pessimists. Source. | | 14:30 | CAD | medium | Wholesale Sales m/m | 1.6% | 0.7% | 1.6% | Measures the total value of sales at the wholesale level.
A rising trend has a positive effect on the nation's currency because increased sales at the wholesale level are a good indication that there is high consumer demand at the retail level. Source. | | 14:30 | USD | high | Building Permits | 1.14M | 0.98M | 0.94M | Measures: Annualized number of new residential building permits issued during the previous month;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, about 17 days after the month ends;
Next Release: Sep 17, 2008
FF Notes: While this is monthly data, it's reported in an annualized format (monthly figure x12);
Why Traders Care: It's an excellent gauge of future construction activity because obtaining a permit is among the first steps in constructing a new building;
Also Called: Residential Building Permits;
Source. | | 14:30 | USD | high | PPI m/m | 1.8% | 0.6% | 1.8% | Measures: Change in the price of finished goods and services sold by producers;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, about 15 days after the month ends;
Next Release: Sep 12, 2008
FF Notes: Tends to have more impact when it's released ahead of the CPI data because the reports are tightly correlated;
Why Traders Care: It's a leading indicator of consumer inflation - when producers charge more for goods and services the higher costs are usually passed on to the consumer;
Also Called: Finished Goods PPI;
Acronyms: Producer Price Index (PPI);
Source. | | 14:30 | USD | medium | Core PPI m/m | 0.2% | 0.2% | 0.2% | Measures: Change in the price of finished goods and services sold by producers, excluding food and energy;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, about 15 days after the month ends;
Next Release: Sep 12, 2008
FF Notes: Food and energy prices make up about 40% of overall PPI which tends to mute the importance of the Core data;
Also Called: Core Finished Goods PPI;
Acronyms: Producer Price Index (PPI);
Source. | | 14:30 | USD | medium | Housing Starts | 1.07M | 0.97M | 1.07M | Measures: Annualized number of new residential buildings that began construction during the previous month;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, about 17 days after the month ends;
Next Release: Sep 17, 2008
FF Notes: While this is monthly data, it's reported in an annualized format (monthly figure x12). This data is slightly overshadowed by Building Permits because they are tightly correlated and a permit must be issued before the house can begin construction;
Why Traders Care: It's a leading indicator of economic health because building construction produces a wide-reaching ripple effect. For example, jobs are created for the construction workers, subcontractors and inspectors are hired, and various construction services are purchased by the builder;
Source. | | 16:00 | USD | medium | FOMC Member Fisher Speaks | | | | Speaker: Federal Reserve Bank of Dallas President Richard Fisher;
Description: Due to deliver a speech titled "Monetary Policy in a Technology Driven World" at the Progress and Freedom Foundation 2008 Summit, in Aspen. Audience questions expected;
Usual Effect: More hawkish than expected = Good for currency;
FF Notes: 2008 FOMC voting member;
Why Traders Care: Federal Reserve FOMC members vote on where to set the nation's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy;
Acronyms: Federal Open Market Committee (FOMC);
Source. |
| Time (GMT +1) | Currency | Economic impact | Event | Prev. | Forecast | Actual |
|---|
| 01:50 | JPY | low | All Industries Activity Index m/m | 0.4% | -0.8% | -0.9% | Measures the change in spending for goods and services.
This indicator is similar to the Tertiary Industry Activity Index released a few days prior, but it adds data from the primary sector, including fishing, farming, forestry, mining, and manufacturing. Source. | | 02:30 | AUD | low | WMI Leading Index m/m | 0.0% | | 0.1% | | The Westpac Melbourne Institute (WMI) Leading Index measures overall economic health by combining several indicators reported earlier in the month. Source. | | 02:30 | AUD | low | MI Leading Index m/m | 0.0% | | 0.1% | Measures: Change in the level of a composite index based on 8 economic indicators;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, about 50 days after the month ends;
FF Notes: This index is designed to predict the direction of the economy, but it tends to have a muted impact because most of the indicators used in the calculation are released previously. Full reports are only available to Melbourne Institute subscribers;
Derived Via: Combined reading of 8 economic indicators related to consumer confidence, housing, stock prices, money supply, and interest rate spreads;
Also Called: Leading Indicators;
Acronyms: Melbourne Institute (MI);
Source. | | 07:00 | JPY | medium | BOJ Monthly Report | | | | FF Alert: Source released report 60 minutes earlier than scheduled;
Usual Effect: More hawkish than expected = Good for currency;
Frequency: Released monthly, around the middle of the current month;
Acronyms: Bank of Japan (BOJ);
Source. | | 08:00 | JPY | medium | BOJ Monthly Report | | | | The Bank of Japan (BOJ) Monthly Report provides a summary of the current economic climate from the Bank's viewpoint, including growth, inflation, exports, and interest rates.
The report is based on data available at the time of the last Monetary Policy Meeting. Source. | | 10:30 | GBP | high | MPC Meeting Minutes | 7-2 hld | 7-2 hld | 7-2 hld | The Bank of England (BOE) Monetary Policy Committee (MPC) Meeting Minutes are a detailed record of the committee's interest rate meeting held about two weeks earlier.
The minutes expose the votes cast at the meeting and can give traders further insight into the central bank's stance on monetary policy. Traders carefully comb the minutes for clues regarding future interest rate shifts. Source. | | 10:30 | GBP | low | M4 Money Supply m/m | 1.8% | | 0.9% | Measures the value of all currency and liquid cash assets held by the public.
A rising trend has a positive effect on the nation's currency although the relationship is not entirely reliable. The commonly held theory is that elevated currency levels spur growth and have an inflationary effect, leading to higher interest rates. However, some believe that an increased supply of money will trigger an equal drop in demand, leading to a lower currency valuation. Source. | | 10:30 | GBP | low | Public Sector Net Borrowing | 9.2B | -4.5B | 9.2B | Measures the difference between spending and income for the government and public corporations.
A rising trend has a positive effect on the nation's currency because high levels of borrowing are a signal of investment and economic expansion. Source. | | 12:00 | GBP | medium | CBI Industrial Trends Orders | -8 | -12 | -8 | The Confederation of British Industry (CBI) Industrial Trends Orders measures the value of new purchase orders placed with domestic manufacturers.
A rising trend has a positive effect on the nation's currency. A busy manufacturing industry is a positive sign that the economy is expanding, and this survey points to how busy manufacturers will be in the months to come as they work to fill new orders. Source. | | 14:30 | CAD | high | Core Retail Sales m/m | 0.4% | 0.5% | 0.4% | Measures: Change in the total value of sales at the retail level, excluding automobiles;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, about 50 days after the month ends;
Next Release: Sep 22, 2008
FF Notes: Automobile sales account for about a 20% of Retail Sales, but they tend to be very volatile and distort the underlying trend. The Core data is therefore thought to be a better gauge of spending trends;
Also Called: Retail Sales Ex Autos;
Source. | | 14:30 | CAD | medium | Retail Sales m/m | 0.4% | 0.3% | 0.4% | Measures: Change in the total value of sales at the retail level;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, about 50 days after the month ends;
Next Release: Sep 22, 2008
Why Traders Care: It's the primary gauge of consumer spending, which accounts for a majority of overall economic activity;
Source. | | 14:30 | CAD | low | Leading Indicators m/m | 0.0% | 0.1% | 0.0% | | Measures overall economic health by combining ten leading indicators including average weekly hours, new orders, consumer expectations, housing permits, stock prices, and interest rate spreads. Source. | | 14:30 | CAD | low | CB Leading Index m/m | 0.0% | 0.1% | 0.0% | Measures: Change in the level of a composite index based on 10 economic indicators;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, about 20 days after the month ends;
FF Notes: This index is designed to predict the direction of the economy, but it tends to have a muted impact because most of the indicators used in the calculation are released previously;
Derived Via: Combined reading of 10 economic indicators related to employment, production, new orders, consumer confidence, housing, stock prices, money supply, and interest rate spreads;
Also Called: Leading Indicators;
Source. | | 16:35 | USD | medium | Crude Oil Inventories | -0.4M | | -0.4M | Measures: Change in the number of barrels of crude oil held in inventory by commercial firms during the past week;
Usual Effect: No clear effect, there are both inflationary and growth implications;
Frequency: Released weekly, 4 days after the week ends;
Next Release: Aug 27, 2008
FF Notes: While this is a US indicator, it most affects the loonie due to Canada's massive oil sands;
Why Traders Care: It influences the price of petroleum products which affects inflation, but also impacts growth as many industries rely on oil to produce goods;
Also Called: Crude Stocks, Crude Levels;
Acronyms: Energy Information Administration (EIA);
Source. |
| Time (GMT +1) | Currency | Economic impact | Event | Prev. | Forecast | Actual |
|---|
| 00:45 | NZD | low | Visitor Arrivals m/m | -1.4% | | 2.1% | Measures the number short-term overseas visitors who arrive in the country.
A rising trend has a positive effect on the nation's currency because tourism plays an important role in the economy. Almost 10% of the nation's population is employed by the tourism industry, and 10% of the nation's GDP is indirectly related to tourism. Source. | | 01:50 | JPY | low | Trade Balance | 0.14T | 0.35T | 0.17T | Measures: Difference in value between imported and exported goods during the reported month;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, about 22 days after the month ends;
Next Release: Sep 25, 2008
FF Notes: This is the seasonally adjusted data (as most FF numbers are), not to be confused with the non-seasonally adjusted number reported by some news agencies. A positive number indicates that more goods were exported than imported;
Why Traders Care: Export demand and currency demand are directly linked because foreigners must buy the domestic currency to pay for the nation's exports. Export demand also impacts production and prices at domestic manufacturers;
Also Called: Adjusted Merchandise Trade Balance;
Source. | | 03:30 | AUD | medium | New Motor Vehicle Sales m/m | 1.0% | | 1.0% | Measures the unit sales for new vehicles.
A rising trend has a positive effect on the nation's currency because demand for vehicles, as with other expensive durable goods, has historically been a leading indicator of trends in overall consumer spending. Vehicle sales accounting for roughly 25% of total retail sales. Source. | | 03:30 | AUD | low | RBA Bulletin | | | | | The Reserve Bank of Australia (RBA) Bulletin is a monthly publication that contains economic commentary, feature articles, speeches and a set of statistical tables. Source. | | 05:00 | NZD | low | Credit Card Spending y/y | 3.3% | | 3.3% | Measures: Change in the total spending facilitated with a credit card;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, about 20 days after the month ends;
Next Release: Sep 19, 2008
Why Traders Care: Consumer borrowing is highly correlated with consumer spending, which accounts for a majority of overall economic activity. Consumers also tend to borrow money when confident in their future financial position;
Source. | | 05:03 | NZD | low | Credit Card Spending y/y | 3.4% | | 3.8% | FF Alert: Source released data 3 minutes later than scheduled;
Measures: Change in the total spending facilitated with a credit card;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, about 20 days after the month ends;
Next Release: Sep 19, 2008
Why Traders Care: Consumer borrowing is highly correlated with consumer spending, which accounts for a majority of overall economic activity. Consumers also tend to borrow money when confident in their future financial position;
Source. | | 08:15 | CHF | low | Trade Balance | 2.37B | 2.00B | 2.37B | Measures: Difference in value between imported and exported goods during the reported month;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, about 50 days after the month ends;
Next Release: Sep 18, 2008
FF Notes: A positive number indicates that more goods were exported than imported;
Why Traders Care: Export demand and currency demand are directly linked because foreigners must buy the domestic currency to pay for the nation's exports. Export demand also impacts production and prices at domestic manufacturers;
Source. | | 09:00 | EUR | medium | French Manufacturing PMI (p) | 47.1 | 47.0 | | The Manufacturing Purchasing Manager's Index (PMI) measures the activity level of purchasing managers in the manufacturing sector, with a reading above 50 indicating expansion.
A rising trend has a positive effect on the nation's currency. To produce the index, purchasing managers are surveyed on a number of subjects including employment, production, new orders, supplier deliveries, and inventories. Traders watch these surveys closely because purchasing managers, by virtue of their jobs, have early access to data about their company’s performance, which can be a leading indicator of overall economic performance. Source. | | 09:00 | EUR | low | French Services PMI (p) | 47.5 | 47.3 | | The Services Purchasing Manager's Index (PMI) measures the activity level of purchasing managers in the manufacturing sector, with a reading above 50 indicating expansion.
A rising trend has a positive effect on the nation's currency. To produce the index, purchasing managers are surveyed on a number of subjects including employment, production, new orders, supplier deliveries, and inventories. Traders watch these surveys closely because purchasing managers, by virtue of their jobs, have early access to data about their company’s performance, which can be a leading indicator of overall economic performance. Source. | | 09:00 | EUR | medium | French Flash Manufacturing PMI | 47.1 | 47.0 | 45.1 | Measures: Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, about 7 days before the month ends;
Next Release: Sep 23, 2008
FF Notes: There are 2 versions of this report released about a week apart – Flash and Final. The Flash release, which the source began reporting in Mar 2008, is the earliest and thus tends to have the most impact. The Final is not reported for lack of significance. Above 50.0 indicates industry expansion, below indicates contraction. Full reports are only available to journalists registered with NTC;
Why Traders Care: It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy;
Derived Via: Survey of purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories;
Acronyms: Purchasing Managers' Index (PMI);
Source. | | 09:00 | EUR | low | French Flash Services PMI | 47.5 | 47.3 | 48.5 | Measures: Level of a diffusion index based on surveyed purchasing managers in the services industry;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, about 7 days before the month ends;
Next Release: Sep 23, 2008
FF Notes: There are 2 versions of this report released about a week apart – Flash and Final. The Flash release, which the source began reporting in Mar 2008, is the earliest and thus tends to have the most impact. The Final is not reported for lack of significance. Above 50.0 indicates industry expansion, below indicates contraction. Full reports are only available to journalists registered with NTC;
Why Traders Care: It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy;
Derived Via: Survey of purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories;
Acronyms: Purchasing Managers' Index (PMI);
Source. | | 09:15 | CHF | medium | PPI m/m | 0.6% | 0.3% | 0.5% | Measures: Change in the price of goods and raw materials purchased by manufacturers;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, about 23 days after the month ends;
Next Release: Sep 18, 2008
Why Traders Care: It's a leading indicator of consumer inflation - when manufacturers pay more for goods the higher costs are usually passed on to the consumer;
Also Called: Producer and Import Prices, Producer Input Prices;
Acronyms: Producer Price Index (PPI);
Source. | | 09:30 | EUR | medium | German Manufacturing PMI (p) | 50.9 | 50.5 | | The Manufacturing Purchasing Manager's Index (PMI) measures the activity level of purchasing managers in the manufacturing sector, with a reading above 50 indicating expansion.
A rising trend has a positive effect on the nation's currency. To produce the index, purchasing managers are surveyed on a number of subjects including employment, production, new orders, supplier deliveries, and inventories. Traders watch these surveys closely because purchasing managers, by virtue of their jobs, have early access to data about their company’s performance, which can be a leading indicator of overall economic performance. Source. | | 09:30 | EUR | low | German Services PMI (p) | 53.1 | 52.2 | | The Services Purchasing Manager's Index (PMI) measures the activity level of purchasing managers in the manufacturing sector, with a reading above 50 indicating expansion.
A rising trend has a positive effect on the nation's currency. To produce the index, purchasing managers are surveyed on a number of subjects including employment, production, new orders, supplier deliveries, and inventories. Traders watch these surveys closely because purchasing managers, by virtue of their jobs, have early access to data about their company’s performance, which can be a leading indicator of overall economic performance. Source. | | 09:30 | EUR | medium | German Flash Manufacturing PMI | 50.9 | 50.5 | 50.9 | Measures: Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, about 7 days before the month ends;
Next Release: Sep 23, 2008
FF Notes: There are 2 versions of this report released about a week apart – Flash and Final. The Flash release, which the source began reporting in Mar 2008, is the earliest and thus tends to have the most impact. The Final is not reported for lack of significance. Above 50.0 indicates industry expansion, below indicates contraction. Full reports are only available to journalists registered with NTC;
Why Traders Care: It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy;
Derived Via: Survey of purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories;
Acronyms: Purchasing Managers' Index (PMI);
Source. | | 09:30 | EUR | low | German Flash Services PMI | 53.1 | 52.2 | 50.6 | Measures: Level of a diffusion index based on surveyed purchasing managers in the services industry;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, about 7 days before the month ends;
Next Release: Sep 23, 2008
FF Notes: There are 2 versions of this report released about a week apart – Flash and Final. The Flash release, which the source began reporting in Mar 2008, is the earliest and thus tends to have the most impact. The Final is not reported for lack of significance. Above 50.0 indicates industry expansion, below indicates contraction. Full reports are only available to journalists registered with NTC;
Why Traders Care: It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy;
Derived Via: Survey of purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories;
Acronyms: Purchasing Managers' Index (PMI);
Source. | | 10:00 | EUR | medium | Manufacturing PMI (p) | 47.4 | 47.0 | | The Manufacturing Purchasing Manager's Index (PMI) measures the activity level of purchasing managers in the manufacturing sector, with a reading above 50 indicating expansion.
A rising trend has a positive effect on the nation's currency. To produce the index, purchasing managers are surveyed on a number of subjects including employment, production, new orders, supplier deliveries, and inventories. Traders watch these surveys closely because purchasing managers, by virtue of their jobs, have early access to data about their company’s performance, which can be a leading indicator of overall economic performance. Source. | | 10:00 | EUR | low | Services PMI (p) | 48.3 | 48.0 | | The Services Purchasing Manager's Index (PMI) measures the activity level of purchasing managers in the manufacturing sector, with a reading above 50 indicating expansion.
A rising trend has a positive effect on the nation's currency. To produce the index, purchasing managers are surveyed on a number of subjects including employment, production, new orders, supplier deliveries, and inventories. Traders watch these surveys closely because purchasing managers, by virtue of their jobs, have early access to data about their company’s performance, which can be a leading indicator of overall economic performance. Source. | | 10:00 | EUR | medium | Flash Manufacturing PMI | 47.4 | 47.0 | 47.5 | Measures: Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, about 7 days before the month ends;
Next Release: Sep 23, 2008
FF Notes: There are 2 versions of this report released about a week apart – Flash and Final. The Flash release, which the source began reporting in Jun 2007, is the earliest and thus tends to have the most impact. Above 50.0 indicates industry expansion, below indicates contraction. Full reports are only available to journalists registered with NTC;
Why Traders Care: It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy;
Derived Via: Survey of purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories;
Also Called: RBS/Markit flash Eurozone PMI;
Acronyms: Purchasing Managers' Index (PMI);
Source. | | 10:00 | EUR | low | Flash Services PMI | 48.3 | 48.0 | 48.3 | Measures: Level of a diffusion index based on surveyed purchasing managers in the services industry;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, about 7 days before the month ends;
Next Release: Sep 23, 2008
FF Notes: There are 2 versions of this report released about a week apart – Flash and Final. The Flash release, which the source began reporting in Jun 2007, is the earliest and thus tends to have the most impact. Above 50.0 indicates industry expansion, below indicates contraction. Full reports are only available to journalists registered with NTC;
Why Traders Care: It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy;
Derived Via: Survey of purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories;
Also Called: RBS/Markit flash Eurozone PMI;
Acronyms: Purchasing Managers' Index (PMI);
Source. | | 10:30 | GBP | high | Retail Sales m/m | -3.9% | -0.3% | -3.9% | Measures: Change in the total value of inflation-adjusted sales at the retail level;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, about 20 days after the month ends;
Next Release: Sep 18, 2008
Why Traders Care: It's the primary gauge of consumer spending, which accounts for a majority of overall economic activity;
Also Called: Sales Volume;
Source. | | 10:30 | GBP | medium | Prelim Business Investment q/q | -1.8% | -0.7% | -1.9% | Measures: Change in the total inflation-adjusted value of capital investments made by businesses and the government;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released quarterly, about 55 days after the quarter ends;
Next Release: Nov 25, 2008
FF Notes: There are 2 versions of this report released about a month apart – Preliminary and Revised. The Preliminary release is the earliest and thus tends to have the most impact;
Also Called: Total Business Investment;
Source. | | 11:00 | CHF | medium | ZEW Expectations | -76.9 | | -76.9 | | Zentrum f?r Europ?ische Wirtschaftsforschung (ZEW) Expectations measures institutional investor sentiment regarding the economic outlook. The monthly indicator reflects the difference between the share of investors that expect further improvement of economic conditions and those that expect growth to decrease. Source. | | 13:00 | CAD | high | Core CPI m/m | 0.1% | 0.2% | 0.1% | Measures: Change in the price of goods and services purchased by consumers, excluding the 8 most volatile items;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, about 20 days after the month ends;
Next Release: Sep 23, 2008
FF Notes: Volatile items account for about a quarter of CPI but they tend to be very volatile and distort the underlying trend. The Bank of Canada pays the most attention to the Core data - so do traders;
Why Traders Care: Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate;
Also Called: Bank of Canada Core CPI, CPI Ex Volatile Items;
Acronyms: Consumer Price Index (CPI);
Source. | | 13:00 | CAD | medium | CPI m/m | 0.7% | 0.3% | 0.7% | Measures: Change in the price of goods and services purchased by consumers;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, about 20 days after the month ends;
Next Release: Sep 23, 2008
Why Traders Care: Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate;
Derived Via: The average price of various goods and services are sampled and then compared to the previous sampling;
Also Called: All Items CPI;
Acronyms: Consumer Price Index (CPI);
Source. | | 14:30 | USD | medium | Unemployment Claims | 450K | 443K | 450K | Measures: The number of individuals who filed for unemployment insurance for the first time during the past week;
Usual Effect: Actual < Forecast = Good for currency;
Frequency: Released weekly, 5 days after the week ends;
Next Release: Aug 28, 2008
FF Notes: This is the nation's earliest economic data. The market impact fluctuates from week to week - there tends to be more focus on the release when traders need to diagnose recent developments, or when the reading is at extremes;
Why Traders Care: Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor conditions;
Also Called: Jobless Claims, Initial Claims;
Source. | | 16:00 | USD | medium | Philadelphia Fed Manufacturing Index | -16.3 | -14.5 | -16.3 | Measures the general business conditions of manufacturers in the Philadelphia Federal Reserve district. The index is derived from a survey that asks respondents to rate the level of general business activity as 'decrease', 'increase', or 'no change'.
A rising trend has a positive effect on the nation's currency because good manufacturing conditions are a sign of a strong economy. Although this survey is limited to manufacturers in Philadelphia only, traders pay close attention because the Philadelphia Federal Reserve releases it weeks before other major reports on manufacturing (e.g., Industrial Production, ISM Manufacturing Index). Source. | | 16:00 | USD | low | Leading Index m/m | -0.1% | -0.2% | -0.1% | Measures overall economic health by combining ten leading indicators including average weekly hours, new orders, consumer expectations, housing permits, stock prices, and interest rate spreads.
The index is published monthly by The Conference Board, a leading private US research group, but traders tend to pay little attention because the components that make up the index are reported at an earlier date. Source. | | 16:00 | USD | low | CB Leading Index m/m | 0.0% | -0.2% | -0.7% | Measures: Change in the level of a composite index based on 10 economic indicators;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, about 20 days after the month ends;
FF Notes: This index is designed to predict the direction of the economy, but it tends to have a muted impact because most of the indicators used in the calculation are released previously;
Derived Via: Combined reading of 10 economic indicators related to employment, production, new orders, consumer confidence, housing, stock prices, money supply, and interest rate spreads;
Also Called: Leading Indicators;
Acronyms: The Conference Board (CB);
Source. | | 16:35 | USD | low | Advance GDP Price Index q/q | 50B | | | Measures: Annualized change in the price of all goods and services implied by GDP;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released quarterly, about 30 days after the quarter ends;
Next Release: Oct 30, 2008
FF Notes: While this is q/q data, it's reported in an annualized format (quarterly change x4).
Why Traders Care: It's the broadest measure of inflation, encompassing all activities included in GDP, and is a primary instrument the central bank uses to assess inflation;
Also Called: GDP Deflator;
Acronyms: Gross Domestic Product (GDP);
Source. | | 16:35 | USD | low | Natural Gas Storage | 50B | | 50B | Measures: Change in the number of cubic feet of natural gas held in underground storage during the past week;
Usual Effect: No clear effect, there are both inflationary and growth implications;
Frequency: Released weekly, 5 days after the week ends;
Next Release: Aug 28, 2008
FF Notes: While this is a US indicator, it most affects the loonie due to Canada's massive oil sands;
Why Traders Care: It influences the price of petroleum products which affects inflation, but also impacts growth as many industries rely on oil to produce goods;
Also Called: Nat Gas Stocks, Nat Gas Inventories;
Acronyms: Energy Information Administration (EIA);
Source. |
| Time (GMT +1) | Currency | Economic impact | Event | Prev. | Forecast | Actual |
|---|
| 01:50 | JPY | medium | Monetary Policy Meeting Minutes | | | | | The Bank of Japan (BOJ) Monetary Policy Meeting Minutes are a detailed record of the bank's interest rate meeting held about one month earlier. Source. | | 10:00 | EUR | low | Current Account | -7.3B | | -7.3B | Measures: Difference in value between imported and exported goods, services, income flows, and unilateral transfers during the previous quarter;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released monthly, about 25 days after the month ends;
Next Release: Sep 24, 2008
FF Notes: This is the seasonally adjusted data (as most FF numbers are), not to be confused with the non-seasonally adjusted number reported by some news agencies. The goods portion has no impact because it's a duplicate of the Trade Balance data released about a week earlier;
Why Traders Care: It's directly linked to currency demand - a rising surplus indicates that foreigners are buying more of the domestic currency to execute transactions in the country;
Source. | | 10:30 | GBP | high | Revised GDP q/q | 0.2% | 0.1% | 0.2% | Measures: Change in the value of all goods and services produced by the economy;
Usual Effect: Actual > Forecast = Good for currency;
Frequency: Released quarterly, about 55 days after the quarter ends;
Next Release: Nov 26, 2008
FF Notes: The 'Previous' listed is the 'Actual' from the Preliminary release and therefore the 'History' data will appear unconnected. There are 3 versions of GDP released a month apart - Preliminary, Revised, and Final. The Preliminary release is the earliest and thus tends to have the most impact;
Why Traders Care: It's the broadest measure of economic activity and the primary gauge of the economy's health;
Also Called: GDP Second Estimate;
Acronyms: Gross Domestic Product (GDP);
Source. | | 10:30 | GBP | low | Index of Services 3m/3m | 0.4% | 0.4% | 0.4% | | Measures the gross value added (GVA) of all service sectors. GVA is the difference between the value of a service provided (output), and the value of the goods and services used up in providing that service (intermediate consumption). Source. | | 11:00 | EUR | medium | Industrial New Orders m/m | -3.5% | -1.1% | -3.5% | | Measures the value of new purchase orders placed with domestic manufacturers for durable and non-durable goods. Source. | | 16:00 | USD | high | Fed Chairman Bernanke Speaks | | | | Speaker: Federal Reserve Chairman Ben Bernanke;
Description: Due to speak about financial stability at the Federal Reserve Bank of Kansas City Economic Symposium, in Jackson Hole;
Usual Effect: More hawkish than expected = Good for currency;
FF Notes: Volatility is often experienced during his speeches as traders attempt to decipher interest rate clues;
Why Traders Care: As head of the central bank, which controls short term interest rates, he has more influence over the nation's currency value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy;
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