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November 2006
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| Jump to month < click calendar to navigate by day, week, or month. | Calendar Options » Display Current Week » Display All Analysis » Send to Friend » Bookmark Calendar » Calendar Time Zone* | Legend
| high impact
| medium impact
| low impact
Green | better than expected
Red | worse than expected
m/m | month over month
y/y | year over year
(p) | preliminary release
(f) | final release
Forex Calendar
Date | Time* | Currency | Data Released |  | Actual | Forecast | Previous | Info.
Sun. 10/29 | 9:45pm | NZD | Building Permits m/m |  | 6.1% |  | 4.9% | [read]
Definition Measures the number of new construction intentions. This data is a leading indicator for the construction industry since the issuance of a building permit is one of the first steps in the construction process.
| 11:50pm | JPY | Industrial Production m/m |  | -0.7% | -0.7% | 1.8% | [read]
Definition Measures the total value of output produced by factories, mines, and utilities. A rising trend has a positive effect on the nation's currency because high levels of production are a sign of a strong economy. Industrial Production reacts quickly to the ups and downs of the business cycle and can predict manufacturing employment, average earnings, and personal income.
Mon. 10/30 | 9:30am | GBP | Net Lending to Individuals m/m |  | 9.8B | 9.7B | 9.9B | [read]
Definition Measures the monthly growth in outstanding consumer installment credit, including mortgages. It gives insight into the state of consumer finances and can act as a leading indicator of consumer spending.
| 12:00pm | NZD | Business Confidence |  | -21.7 |  | -28.9 | [read]
Definition Measures the mood of businesses in regard to economic expectations. It's derived from a monthly survey of 1,500 businesses conducted by the National Bank of New Zealand.
| 1:30pm | CAD | Industrial Product Price Index m/m |  | -1.6% | -0.9% | -0.5% | [read]
Definition The Industrial Product Price Index (IPPI) measures the prices that manufacturers are paid as goods leave the plant gate. Unlike the CPI, the IPPI excludes indirect taxes and all the costs that occur between the time a good leaves the plant and the time the final user takes possession of it, including the transportation, wholesale, and retail costs.
| 1:30pm | CAD | Raw Materials Price Index m/m |  | -5.2% | -3.1% | -3.5% | [read]
Definition The Raw Materials Price Index (RMPI) measures price changes for raw materials purchased by industries in Canada for further processing.
| 1:30pm | USD | Richmond Fed President Lacker Speaks |  |  |  |  | [read]
Definition Richmond Federal Reserve President Jeffrey Lacker will speak about monetary policy, in Baltimore Maryland. Audience questions expected.
| 1:30pm | USD | Personal Spending m/m |  | 0.1% | 0.2% | 0.1% | [read]
Definition Measures the total value of consumer purchases of goods and services over the past month. Consumer spending makes up two thirds of GDP and therefore a rising trend generally strengthens a country's currency.
| 1:30pm | USD | PCE Price Index m/m |  | -0.3% | 0.1% | 0.2% | [read]
Definition The Personal Consumption Expenditures (PCE) Price Index measures the rate of inflation experienced by consumers. Like CPI, it reflects the price change in consumer goods and services. PCE differs slightly from CPI in that it only measures goods and services targeted towards and consumed by individuals. Traders watch the PCE Price Index closely because it's the Federal Reserve's preferred consumer inflation indicator.
| 1:30pm | USD | Core PCE Price Index m/m |  | 0.2% | 0.2% | 0.2% | [read]
Investica Analysis A core figure above 0.2% would revive underlying inflation fears. Definition Derivative of the PCE Price Index that excludes the Food and Energy items. Food and Energy account for roughly 25% of PCE, but they can be very volatile from month to month and can distort the overal picture. PCE with the exclusion of these volatile components is thought to be a better indicator of the underlying inflation trend.
| 11:30pm | JPY | Manufacturing PMI |  | 54.1 | 55.0 | 54.8 | [read]
Definition The Manufacturing Purchasing Manager's Index (PMI) is a measure of purchasing manager sentiment throughout Japan. The report is released monthly by NTC Research on behalf of Nomura. The PMI has earned a reputation for accurately reflecting the true health of the Japanese manufacturing economy well ahead of official data. A rise in PMI indicates that business conditions in the manufacturing sector have improved.
| 11:30pm | JPY | Unemployment Rate |  | 4.2% | 4.1% | 4.1% | [read]
Definition Measures the percentage of the total work force that is unemployed and actively seeking employment. A falling trend has a positive effect on the nation's currency because unemployed persons are a drag on consumer spending. Although consumer spending is important, the unemployment rate usually draws little attention because traders view it as a lagging indicator.
| 11:30pm | JPY | Overall Household Spending y/y |  | -6.0% | -2.6% | -4.3% | [read]
Definition Measures the annual change in the level of expenditure per household. Higher readings are a positive sign for the economy, as consumer spending accounts for half of Japan's GDP. Consumer spending makes up two thirds of GDP and therefore a rising trend generally strengthens a country's currency.
Tue. 10/31 | 1:30am | JPY | Average Cash Earnings y/y |  | 0.0% | 0.2% | -0.5% | [read]
Definition Measures the monthly change in the cash paid to jobholders.
| tentative | JPY | Interest Rate Statement |  | 0.25% | 0.25% | 0.25% | [read]
Definition The central bank's governing body, the Bank of Japan (BOJ) Monetary Policy Committee, releases an Interest Rate Statement each month. The statement contains the latest decision regarding changes to the nation's short term interest rate ("overnight call rate"). A rising trend has a positive effect on the nation's currency. Short term interest rates are the paramount factor in currency valuation; traders look at most other indicators merely to predict how interest rates may change in the future. What makes interest rates so important is that high rates attract foreigners looking for the best "risk-free" return on their money, which significantly increases demand for the nation's currency. The primary objective of the central bank is to achieve price stability; when inflation rises above an annualized rate of approximately 2%, they will respond by raising interest rates in an attempt to bring prices down. This is what makes inflation-predicting indicators so important. Traders know that rising prices will lead the central bank to raise interest rates, which ultimately leads to a more valuable currency.
| 5:00am | JPY | Housing Starts y/y |  | 4.0% | 5.3% | 1.8% | [read]
Definition Measures the annual change in the number of new single-family homes or buildings constructed.
| 7:00am | GBP | Nationwide House Prices m/m |  | 0.7% | 0.5% | 1.3% | [read]
Definition Measures the monthly change in the average price for a house in the UK. It serves as a leading inflation indicator for the housing market.
| 7:00am | EUR | German Retail Sales m/m |  | -1.7% | 0.6% | 0.0% | [read]
Definition Measures the total value of sales at the retail level. A rising trend has a positive effect on the nation's currency. Consumer spending makes up a large portion of GDP, and Retail Sales makes up one-third of consumer spending. This indicator is usually the first of the month that relates to consumer behavior, making it susceptible to big surprises.
| 10:00am | EUR | Business Climate Indicator |  | 1.42 | 1.43 | 1.46 | [read]
Definition The Business Climate Indicator measures the mood of firms in the Eurozone. The indicator is derived through a monthly survey of businesses. A high reading will indicate that the surveys points to a healthy cyclical situation. A rise in the indicator will point to an upswing in activity and an improvement in the business climate.
| 10:00am | EUR | Consumer Confidence |  | -8 | -7 | -8 | [read]
Definition Measures the mood of consumers in regard to economic conditions. The reading is derived from a monthly survey that asks respondents to evaluate the prospects for the economy in the future. Higher readings point to higher consumer optimism. When consumers are optimistic they tend to purchase more goods and services, which stimulates the economy.
| 10:00am | EUR | CPI m/m (p) |  | 1.6% | 1.7% | 1.8% | [read]
Definition The Consumer Price Index (CPI) measures the rate of inflation experienced by consumers. A rising trend has a positive effect on the nation's currency. The primary objective of the central bank is to achieve price stability; when inflation rises above an annualized rate of approximately 2%, they will respond by raising interest rates to bring prices down. Higher interest rates attract foreign investment, thus increasing demand for the nation's currency. CPI is one of the most closely watched indicators and will usually have a high impact upon release.
| 10:30am | GBP | Consumer Confidence |  | -5 | -6 | -7 | [read]
Definition Measures the mood of consumers in regard to economic conditions. The reading is derived from a monthly survey that asks respondents to evaluate the prospects for the economy in the future. GfK, a leading German market research company, publishes this indicator monthly. Higher readings point to higher consumer optimism. When consumers are optimistic they tend to purchase more goods and services, which stimulates the economy.
| 1:30pm | CAD | GDP m/m |  | 0.3% | 0.2% | 0.2% | [read]
Definition Gross Domestic Product (GDP) measures the total value of all goods and services produced by the economy. A rising trend has a positive effect on the nation's currency. GDP is the broadest measure of economic activity and considered to be the primary gauge of an economy's health. To foreign investors, a strong economy is viewed favorably because it spurs investment opportunities in the domestic stock and bond markets. A strong economy also persuades the central bank to raise interest rates in an attempt to control growth. All of this activity will increase demand for the nation's currency.
| 1:30pm | USD | Employment Cost Index q/q |  | 1.0% | 0.9% | 0.9% | [read]
Definition The Employment Cost Index (ECI) measures the monthly change in total employee compensation costs, including wages, salaries, and benefits. The ECI is the broadest measure of labor costs.
| 3:00pm | USD | Consumer Confidence |  | 105.4 | 108.0 | 104.5 | [read]
Definition Measures the mood of consumers in regard to economic conditions. The reading is derived from a monthly survey that asks respondents to evaluate the prospects for the economy in the future. Higher readings point to higher consumer optimism. When consumers are optimistic they tend to purchase more goods and services, which stimulates the economy.
| 3:00pm | USD | Chicago PMI |  | 53.5 | 58.0 | 62.1 | [read]
Definition The National Association of Purchasing Managers (NAPM) Chicago Purchasing Manager's Index (PMI) measures the health of the Chicago business environment. It's derived from a monthly survey of purchasing managers where respondents indicate whether their organization's activity is higher than, the same as, or lower than the previous month for output, purchases, employment, inventories, orders, and prices. An index reading above 50 indicates sector expansion.
| 10:30pm | AUD | Manufacturing PMI |  | 51.9 |  | 53.5 | [read]
Definition 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 economic performance.
Wed. 11/01 | 12:30am | AUD | Building Approvals m/m |  | 6.1% | 3.5% | -12.6% | [read]
Definition Measures the number of new construction intentions. This data is a leading indicator for the construction industry since the issuance of a building permit is one of the first steps in the construction process.
| 5:00am | JPY | Vehicle Sales y/y |  | -6.2% |  | -7.4% | [read]
Definition Measures the annual change in the number of cars, light trucks, sport utility vehicles, and vans sold. Motor vehicle sales are a good indicator of trends in consumer spending.
| 8:30am | CHF | SVME PMI |  | 62.3 | 64.8 | 64.4 | [read]
Definition The Schweizerischer Verband für Materialwirtschaft und Einkauf (SVME) Purchasing Manager's Index (PMI) measures the health of the economy. It's derived from a monthly survey of purchasing managers where respondents indicate whether their organization's activity is higher than, the same as, or lower than the previous month for output, purchases, employment, inventories, orders, and prices. An index reading above 50 indicates sector expansion. PMI is believed to be a leading indicator because purchasing managers, by virtue of their jobs, have early access to data about their company’s performance.
| 9:30am | GBP | Manufacturing PMI |  | 53.7 | 54.0 | 54.4 | [read]
Definition 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 economic performance.
| 1:15pm | USD | ADP Nonfarm Employment Change |  | 128K |  | 78K | [read]
Definition Measures the number of new jobs created in the previous month, excluding the farming industry. ADP, a leading provider of employment solutions for businesses, releases this indicator two days before the highly anticipated official Nonfarm Employment Change. ADP claims that this indicator has predictive value in regard to official statistics, but it hasn't yet gained acclaim from traders due to it's short history.
| 3:00pm | USD | Construction Spending m/m |  | -0.3% | -0.3% | 0.3% | [read]
Definition Measures the monthly change in value of new construction projects.
| 3:00pm | USD | ISM Manufacturing Index |  | 51.2 | 53.0 | 52.9 | [read]
Definition The Institute of Supply Management (ISM) Manufacturing Index 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 economic performance.
| 3:00pm | USD | ISM Manufacturing Prices |  | 47.0 | 58.0 | 61.0 | [read]
Definition The Institute of Supply Management (ISM) Manufacturing Price Index measures the monthly inflation experienced by manufacturing organizations when purchasing materials and services. The ISM surveys 400 firms to produce this index.
| 3:30pm | USD | EIA Crude Oil Inventories |  | 2.0M |  | -3.3M | [read]
Definition The Energy Information Administration's (EIA) Crude Oil Inventories measures the weekly increase in barrels of commercial crude oil held in inventory by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation and other economic forces.
| 6:00pm | USD | Fed Chairman Bernanke Speaks |  |  |  |  | [read]
Definition Federal Reserve Chairman Ben Bernanke will give a keynote address at the annual Opportunity Finance Network Conference, in Washington. When Bernanke speaks traders look for clues on how he plans to adjust interest rates at the next Federal Reserve meeting. Because these clues can sometimes be obscure, the market tends to experience heavy volatility during his speeches.
| tentative | USD | Domestic Vehicle Sales |  | 12.3M | 12.5M | 12.9M | [read]
Definition Measures the number of cars, light trucks, sport utility vehicles, and vans sold in the previous month. Motor vehicle sales are a good indicator of trends in consumer spending.
| 11:50pm | JPY | Monetary Base y/y |  | -21.3 | -22.0% | -21.2% | [read]
Definition Measures the annual change in Japan's outstanding currency in circulation, including banknotes, coins, and current account balances. It uncovers the level of additional currency being supplied by the Bank of Japan. An increasing monetary base generally results in higher inflation.
Thu. 11/02 | 12:30am | AUD | Trade Balance |  | -646M | -20M | -208M | [read]
Definition Measures the difference in value between imported and exported goods and services. A positive Trade Balance indicates that more goods and services were exported than imported. A rising trend has a positive effect on the nation's currency. As higher levels of exports are sold to the world, demand for the nation's currency is elevated as foreigners convert their native currency to purchase these exports. The Trade Balance also has a sizable impact on GDP because high demand for exports creates increased employment and production as domestic factories work to fill this foreign demand.
| 12:30am | AUD | Retail Sales m/m |  | 0.1% | 0.4% | 0.3% | [read]
Definition Measures the total value of sales at the retail level. A rising trend has a positive effect on the nation's currency. Consumer spending makes up a large portion of GDP, and Retail Sales makes up one-third of consumer spending. This indicator is usually the first of the month that relates to consumer behavior, making it susceptible to big surprises.
| 6:45am | CHF | CPI m/m |  | 0.3% | 0.8% | -0.2% | [read]
Definition The Consumer Price Index (CPI) measures the rate of inflation experienced by consumers. A rising trend has a positive effect on the nation's currency. The primary objective of the central bank is to achieve price stability; when inflation rises above an annualized rate of approximately 2%, they will respond by raising interest rates to bring prices down. Higher interest rates attract foreign investment, thus increasing demand for the nation's currency. CPI is one of the most closely watched indicators and will usually have a high impact upon release.
| 8:55am | EUR | German Unemployment Rate |  | 10.4% | 10.5% | 10.6% | [read]
Definition Measures the percentage of the total work force that is unemployed and actively seeking employment. A falling trend has a positive effect on the nation's currency because unemployed persons are a drag on consumer spending. Although consumer spending is important, the unemployment rate usually draws little attention because traders view it as a lagging indicator.
| 8:55am | EUR | German Manufacturing PMI |  | 58.2 | 58.4 | 58.4 | [read]
Definition 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 economic performance.
| 9:30am | GBP | Construction PMI |  | 58.1 | 54.0 | 53.6 | [read]
Definition The Chartered Institute of Purchasing and Supply (CIPS) Construction Purchasing Manager's Index (PMI) measures the activity level of purchasing managers in the construction 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 economic performance.
| 12:45pm | EUR | Interest Rate Statement |  | 3.25% | 3.25% | 3.25% | [read]
Definition The European Central Bank (ECB) Governing Council releases an Interest Rate Statement each month. The statement contains the latest decision regarding changes to the euro area's short term interest rate ("minimum bid rate"). A rising trend has a positive effect on the nation's currency. Short term interest rates are the paramount factor in currency valuation; traders look at most other indicators merely to predict how interest rates may change in the future. What makes interest rates so important is that high rates attract foreigners looking for the best "risk-free" return on their money, which significantly increases demand for the nation's currency. The primary objective of the central bank is to achieve price stability; when inflation rises above an annualized rate of approximately 2%, they will respond by raising interest rates in an attempt to bring prices down. This is what makes inflation-predicting indicators so important. Traders know that rising prices will lead the central bank to raise interest rates, which ultimately leads to a more valuable currency.
| 1:30pm | EUR | ECB President Trichet Speaks |  |  |  |  | [read]
Investica Analysis Markets will be looking for clues on 2007 policy Definition European Central Bank (ECB) President Jean-Claude Trichet will speak at a press conference following the Governing Council's meeting in Frankfurt. The ECB Interest Rate Statement is void of commentary, so traders usually focus on Trichet's post-release press conference for clues about future rate decisions. Because these clues can sometimes be obscure, the market tends to experience heavy volatility during this press conference.
| 1:30pm | USD | Nonfarm Productivity q/q |  | 0.0% | 1.0% | 1.6% | [read]
Definition Measures the annualized quarterly growth in labor efficiency for producing goods and services outside the farming sector. A rising trend indicates future inflationary pressures as manufacturers raise prices in response to an at-capacity factory environment.
| 1:30pm | USD | Unit Labor Costs q/q |  | 3.8% | 3.4% | 4.9% | [read]
Investica Analysis A strong figure would increase wage inflation fears. Definition Measures the annualized quarterly growth in the cost of labor. A rising trend indicates inflationary pressures in the labor market.
| 1:30pm | USD | Unemployment Claims |  | 327K | 310K | 308K | [read]
Definition Measures the number of individuals who filed for unemployment insurance for the first time over the past week. A rising trend indicates a deteriorating labor market, which can weigh on the economy.
| 3:00pm | USD | Factory Orders m/m |  | 2.1% | 1.2% | 0.0% | [read]
Definition Measures the value of new purchase orders placed with domestic manufacturers for durable and non-durable goods. Factory Orders tend to have a low impact because it reports much of the same information contained in the Durable Goods Orders report released over a week earlier.
| 5:00pm | USD | Dallas Fed President Fisher Speaks |  |  |  |  | [read]
Definition Dallas Federal Reserve President Richard Fisher will address the New York Association for Business Economics, in New York.
Fri. 11/03 | 1:15am | USD | Fed Governor Bies Speaks |  |  |  |  | [read]
Definition Federal Reserve Governor Susan Schmidt Bies will speak about the economic outlook, in Des Moines Iowa. Audience questions expected.
| all day | JPY | Holiday: Culture Day |  |  |  |  | [read]
Definition Japanese financial markets will be closed in observance of Culture Day. Culture Day (bunka no hi) is a day for promotion of culture and the love for freedom and peace. On this day, schools and the government award certain persons for their special, cultural activities.
| 9:00am | EUR | Services PMI |  | 57.0 | 56.9 | 56.7 | [read]
Definition The Services Purchasing Manager's Index (PMI) measures the activity level of purchasing managers in the services 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 economic performance.
| 9:30am | GBP | Services PMI |  | 59.3 | 57.0 | 57.0 | [read]
Definition The Services Purchasing Manager's Index (PMI) measures the activity level of purchasing managers in the services 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 economic performance.
| 10:00am | EUR | Unemployment Rate |  | 7.8% | 7.8% | 7.9% | [read]
Definition Measures the percentage of the total work force that is unemployed and actively seeking employment. A falling trend has a positive effect on the nation's currency because unemployed persons are a drag on consumer spending. Although consumer spending is important, the unemployment rate usually draws little attention because traders view it as a lagging indicator.
| 12:00pm | CAD | Unemployment Rate |  | 6.2% | 6.4% | 6.4% | [read]
Definition Measures the percentage of the total work force that is unemployed and actively seeking employment. A falling trend has a positive effect on the nation's currency because unemployed persons are a drag on consumer spending. Although consumer spending is important, the unemployment rate usually draws little attention because traders view it as a lagging indicator.
| 12:00pm | CAD | Employment Change |  | 50.5K | 15.0K | 16.2K | [read]
Investica Analysis The manufacturing performance will be watched closely Definition Measures the number of new jobs created in the previous month. A rising trend has a positive effect on the nation's currency. The number of new jobs being created is one of the most important indicators of the economy's health because consumer spending, which is highly correlated with labor conditions, makes up a large portion of GDP. This report is the first of the month that relates to labor conditions, making it susceptible to big surprises.
| 1:30pm | USD | Nonfarm Employment Change |  | 92K | 130K | 51K | [read]
Investica Analysis Construction employment could have an important impact. Revisions will also need to be watched closely. Definition Measures the number of new jobs created in the previous month, excluding the farming industry. A rising trend has a positive effect on the nation's currency. The number of new jobs being created is one of the most important indicators of the economy's health because consumer spending, which is highly correlated with labor conditions, makes up a large portion of GDP. This report is the first of the month that relates to labor conditions, making it susceptible to big surprises.
| 1:30pm | USD | Unemployment Rate |  | 4.4% | 4.6% | 4.6% | [read]
Definition Measures the percentage of the total work force that is unemployed and actively seeking employment. A falling trend has a positive effect on the nation's currency because unemployed persons are a drag on consumer spending. Although consumer spending is important, the unemployment rate usually draws little attention because traders view it as a lagging indicator.
| 1:30pm | USD | Average Hourly Earnings m/m |  | 0.4% | 0.3% | 0.2% | [read]
Investica Analysis The earnings data will be important for the Fed Definition Measures the monthly change in the hourly rate paid to the jobholders indicated in nonfarm payrolls.
| 3:00pm | USD | ISM Non-Manufacturing Index |  | 57.1 | 55.0 | 52.9 | [read]
Investica Analysis Any figure near 50.0 would hurt the dollar. Definition The Institute of Supply Management (ISM) Non-Manufacturing Index measures the activity level of purchasing managers in the services 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 economic performance.
| 3:00pm | USD | ISM Non-Manufacturing Prices |  | 51.9 | 54.0 | 56.7 | [read]
Definition The Institute of Supply Management (ISM) Non-Manufacturing Price Index measures the monthly inflation experienced by non-manufacturing organizations when purchasing materials and services. The ISM surveys 400 firms to produce this index.
| 5:30pm | USD | Fed Governor Kohn Speaks |  |  |  |  | [read]
Definition Federal Reserve Governor Donald Kohn will speak to the American Bar Association, in Washington. Audience questions expected.
| 9:30pm | USD | Fed Governor Kroszner Speaks |  |  |  |  | [read]
Definition Federal Reserve Governor Randall Kroszner will speak about sovereign finance risks, in Mexico City. Audience questions expected.
Sun. 11/05 | 9:45pm | NZD | Labor Cost Index q/q |  | 0.9% | 0.8% | 0.6% | [read]
Definition Measures rate of inflation in the wages, salaries and benefits paid to civilian workers. A rising trend has a positive effect on the nation's currency. When businesses pay more for labor, they are likely to pass the higher costs to the consumer, so traders view wage inflation as a leading indicator of consumer inflation.
Mon. 11/06 | 8:55am | EUR | German Services PMI |  | 54.0 | 54.4 | 54.4 | [read]
Definition The Services Purchasing Manager's Index (PMI) measures the activity level of purchasing managers in the services 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.
| 9:00am | EUR | Services PMI |  | 56.5 | 56.3 | 56.7 | [read]
Definition The Services Purchasing Manager's Index (PMI) measures the activity level of purchasing managers in the services 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.
| 9:30am | GBP | Industrial Production m/m |  | 0.2% | 0.1% | 0.1% | [read]
Definition Measures the total value of output produced by factories, mines, and utilities. A rising trend has a positive effect on the nation's currency because high levels of production are a sign of a strong economy. Industrial Production reacts quickly to the ups and downs of the business cycle and can predict manufacturing employment, average earnings, and personal income.
| 9:30am | GBP | Manufacturing Production m/m |  | 0.0% | 0.1% | 0.4% | [read]
Definition Manufacturing Production, like Industrial Production, measures the total output of factories, mines, and utilities. The difference is that it only measures the 13 sub-sectors of Industrial Production that relate directly to manufacturing. Manufacturing industries make up about 80% of total Industrial Production.
| 10:00am | EUR | PPI m/m |  | -0.5% | -0.3% | 0.1% | [read]
Definition The Producer Price Index (PPI) measures the rate of inflation experienced by manufacturers when purchasing goods and services. A rising trend has a positive effect on the nation's currency. When manufactures pay more for goods and services, they are likely to pass the higher costs to the consumer, so PPI is thought to be a leading indicator of consumer inflation. PPI is highly regarded, and at extremes will have a market impact equal to that of its CPI counterpart.
| 11:00am | EUR | German Factory Orders m/m |  | -2.5% | -1.0% | 3.7% | [read]
Definition Measures the value of new purchase orders placed with domestic manufacturers for hard goods with a life expectancy of more than 3 years, such as automobiles, computers, appliances, and airplanes.
| 1:00pm | USD | Chicago Fed President Moskow Speaks |  |  |  |  | [read]
Definition Chicago Federal Reserve President Michael Moskow will speak to business leaders in Chicago. Audience questions expected.
| 1:30pm | CAD | Building Permits m/m |  | -2.5% | -4.5% | 8.3% | [read]
Definition Measures the number of new construction intentions. This data is a leading indicator for the construction industry since the issuance of a building permit is one of the first steps in the construction process.
| 1:45pm | USD | Chicago Fed President Moskow Speaks |  |  |  |  | [read]
Definition Chicago Federal Reserve President Michael Moskow will speak about the economy in Chicago. Audience questions expected.
| 3:00pm | CAD | Ivey PMI |  | 59.5 | 57.0 | 59.9 | [read]
Definition The Ivey Purchasing Manager's Index (PMI) measures the activity level of purchasing managers from all sectors of the economy, 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.
| 11:30pm | USD | Cleveland Fed President Pianalto Speaks |  |  |  |  | [read]
Definition Cleveland Federal Reserve President Sandra Pianalto will speak about monetary policy and the economic outlook, in Pittsburgh Pennsylvania.
Tue. 11/07 | 12:10am | USD | San Fran Fed President Yellen Speaks |  |  |  |  | [read]
Definition San Francisco Federal Reserve President Janet Yellen will speak about economics of governance, in Irvine California.
| 6:45am | CHF | Unemployment Rate |  | 3.1% | 3.1% | 3.1% | [read]
Definition Measures the percentage of the total work force that is unemployed and actively seeking employment. A falling trend has a positive effect on the nation's currency. Working people tend to spend more, and consumer spending is a major driver of the economy. However, unemployment usually draws little attention because traders view it as a lagging indicator.
| 9:00am | EUR | Retail PMI |  | 52.8 | 52.2 | 52.4 | [read]
Definition The Retail Purchasing Manager's Index (PMI) measures the activity level of purchasing managers in the retail 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.
| 10:00am | EUR | Retail Sales m/m |  | -0.6% | 0.1% | 0.7% | [read]
Definition Measures the total value of sales at the retail level. A rising trend has a positive effect on the nation's currency. Consumer spending makes up a large portion of GDP, and Retail Sales makes up one-third of consumer spending. This indicator is usually the first of the month that relates to consumer behavior, making it susceptible to big surprises.
| 11:00am | EUR | German Industrial Production m/m |  | -0.3% | 0.4% | 1.9% | [read]
Definition Measures the total value of output produced by factories, mines, and utilities. A rising trend has a positive effect on the nation's currency because high levels of production are a sign of a strong economy. Industrial Production reacts quickly to the ups and downs of the business cycle and can predict manufacturing employment, average earnings, and personal income.
| 11:00am | GBP | BRC Retail Sales y/y |  | 2.6% | 1.0% | 2.4% | [read]
Definition The British Retail Consortium (BRC) Retail Monitor measures changes in the value of retail sales from participating retailers.
| all day | USD | Midterm Elections |  |  |  |  | [read]
Definition Midterm Elections will be held to select one-third of the US Senate and 435 members of the House of Representatives, as well as many state and local officials.
| 8:00pm | USD | Consumer Credit m/m |  | -1.2B | 6.0B | 5.0B | [read]
Definition Consumer Credit measures the monthly growth in outstanding consumer installment credit. It gives insight into the state of consumer finances and can act as a leading indicator of consumer spending.
| 10:30pm | AUD | Interest Rate Statement |  | 6.25% | 6.25% | 6.00% | [read]
Investica Analysis An increase to 6.25% is fully priced in Definition Australia's central bank, the Reserve Bank of Australia (RBA), releases an Interest Rate Statement on the first Tuesday of the month. The statement contains the latest decision regarding changes to the nation's short term interest rate ("cash rate"), a brief report of the economic conditions that effected their decision, and most importantly, clues on what the next rate decision will be. A rising trend has a positive effect on the nation's currency. Short term interest rates are the paramount factor in currency valuation; traders look at most other indicators merely to predict how interest rates may change in the future. What makes interest rates so important is that high rates attract foreigners looking for the best "risk-free" return on their money, which significantly increases demand for the nation's currency. The primary objective of the central bank is to achieve price stability; when inflation rises above an annualized rate of approximately 2%, they will respond by raising interest rates in an attempt to bring prices down. This is what makes inflation-predicting indicators so important. Traders know that rising prices will lead the central bank to raise interest rates, which ultimately leads to a more valuable currency.
Wed. 11/08 | 12:01am | GBP | Consumer Confidence Index |  | 98 | 95 | 89 | [read]
Definition The Nationwide Consumer Confidence Index (NCCI) measures the mood of consumers in regard to economic conditions. The reading is derived from a monthly survey that asks respondents to evaluate the prospects for the economy in the future.
| 5:00am | JPY | Business Conditions Index |  | 20.0% | 20.0% | 18.2% | [read]
Definition Measures overall economic health by combining twelve indicators, with a reading above 50 indicating expansion.
| 7:00am | EUR | German Trade Balance |  | 15.6B | 12.0B | 11.2B | [read]
Definition Measures the difference in value between imported and exported goods and services. A positive Trade Balance indicates that more goods and services were exported than imported. A rising trend has a positive effect on the nation's currency. As higher levels of exports are sold to the world, demand for the nation's currency is elevated as foreigners convert their native currency to purchase these exports. The Trade Balance also has a sizable impact on GDP because high demand for exports creates increased employment and production as domestic factories work to fill this foreign demand.
| 7:00am | EUR | German Current Account |  | 9.4B | 6.2B | 2.4B | [read]
Definition Measures the difference in value between imported and exported goods, services, income flows, and unilateral transfers. The Current Account is a comprehensive accounting of the nation's trade with other countries. A rising trend has a positive effect on the nation's currency. The Current Account includes the previously reported Trade Balance (which covers trade of goods and services), so the market's focus for this indicator is on the income flows and unilateral transfers.
| 1:15pm | CAD | Housing Starts |  | 223K | 210K | 209K | [read]
Definition Measures the number of new single-family homes or buildings constructed throughout the previous month.
| 3:30pm | USD | EIA Crude Oil Inventories |  | 0.4M |  | 2.0M | [read]
Definition The Energy Information Administration's (EIA) Crude Oil Inventories measures the weekly increase in barrels of commercial crude oil held in inventory by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation and other economic forces.
| 5:30pm | USD | Chicago Fed President Moskow Speaks |  |  |  |  | [read]
Definition Chicago Federal Reserve President Michael Moskow will speak about the economic outlook at the Ball State Business Forecasting Roundtable Outlook, in Muncie Indiana.
| 9:45pm | NZD | Unemployment Rate |  | 3.8% | 3.7% | 3.6% | [read]
Definition Measures the percentage of the total work force that is unemployed and actively seeking employment. A falling trend has a positive effect on the nation's currency. Working people tend to spend more, and consumer spending is a major driver of the economy. However, unemployment usually draws little attention because traders view it as a lagging indicator.
| 9:45pm | NZD | Employment Change q/q |  | -0.4% | 0.3% | 1.0% | [read]
Definition Measures the growth in number of employed persons. A rising trend has a positive effect on the nation's currency. The number of new jobs being created is one of the most important indicators of the economy's health because consumer spending, which is highly correlated with labor conditions, makes up a large portion of GDP. This report is the first of the month that relates to labor conditions, making it susceptible to big surprises.
| 11:50pm | JPY | M2+CD Money Supply y/y |  | 0.7% | 0.6% | 0.6% | [read]
Definition Measures the annual change in currency outstanding. Higher levels of currency are viewed as deflationary and can have a devaluing effect on the currency. M2+CD is calculated as follows: M1 = currency in circulation + overnight deposits M2+CD = M1 + Quasi-Money (Time Deposits etc.) + CDs
Thu. 11/09 | 12:30am | AUD | Employment Change |  | -32K | 8K | 31K | [read]
Definition Measures the number of new jobs created in the previous month. A rising trend has a positive effect on the nation's currency. The number of new jobs being created is one of the most important indicators of the economy's health because consumer spending, which is highly correlated with labor conditions, makes up a large portion of GDP. This report is the first of the month that relates to labor conditions, making it susceptible to big surprises.
| 12:30am | AUD | Unemployment Rate |  | 4.6% | 4.8% | 4.8% | [read]
Definition Measures the percentage of the total work force that is unemployed and actively seeking employment. A falling trend has a positive effect on the nation's currency. Working people tend to spend more, and consumer spending is a major driver of the economy. However, unemployment usually draws little attention because traders view it as a lagging indicator.
| 5:00am | JPY | Eco Watchers Survey |  | 50.8 |  | 51.0 | [read]
Definition Measures the mood of businesses that directly service consumers, such as barbers, taxi drivers, and waiters. A reading above 50 signals an improvement in sentiment.
| 6:00am | JPY | Machine Tool Orders y/y |  | 6.8% | 3.0% | 5.3% | [read]
Definition Measures the annual change in the value of new orders place for machine tools, which includes capital goods that are used in the production of many such products as motor vehicles and their parts, electrical products, aircrafts and their parts, and dyes and molds.
| 9:30am | GBP | Trade Balance |  | -6.6B | -6.5B | -6.7B | [read]
Definition Measures the difference in value between imported and exported goods and services. A positive Trade Balance indicates that more goods and services were exported than imported. A rising trend has a positive effect on the nation's currency. As higher levels of exports are sold to the world, demand for the nation's currency is elevated as foreigners convert their native currency to purchase these exports. The Trade Balance also has a sizable impact on GDP because high demand for exports creates increased employment and production as domestic factories work to fill this foreign demand.
| 12:00pm | GBP | Interest Rate Statement |  | 5.00% | 5.00% | 4.75% | [read]
Investica Analysis Assuming rates are increased the statement will be important Definition The central bank's governing body, the Bank of England (BOE) Monetary Policy Committee, releases an Interest Rate Statement each month. The statement contains the latest decision regarding changes to the nation's short term interest rate ("Bank rate"). A rising trend has a positive effect on the nation's currency. Short term interest rates are the paramount factor in currency valuation; traders look at most other indicators merely to predict how interest rates may change in the future. What makes interest rates so important is that high rates attract foreigners looking for the best "risk-free" return on their money, which significantly increases demand for the nation's currency. The primary objective of the central bank is to achieve price stability; when inflation rises above an annualized rate of approximately 2%, they will respond by raising interest rates in an attempt to bring prices down. This is what makes inflation-predicting indicators so important. Traders know that rising prices will lead the central bank to raise interest rates, which ultimately leads to a more valuable currency.
| 1:30pm | USD | Trade Balance |  | -64.3 | -66.0B | -69.9B | [read]
Investica Analysis Oil imports will again be an important factor. Definition Measures the difference in value between imported and exported goods and services. A positive Trade Balance indicates that more goods and services were exported than imported. A rising trend has a positive effect on the nation's currency. As higher levels of exports are sold to the world, demand for the nation's currency is elevated as foreigners convert their native currency to purchase these exports. The Trade Balance also has a sizable impact on GDP because high demand for exports creates increased employment and production as domestic factories work to fill this foreign demand.
| 1:30pm | CAD | Trade Balance |  | 4.0B | 4.3B | 4.2B | [read]
Investica Analysis Industrial export levels will be watched closely Definition Measures the difference in value between imported and exported goods and services. A positive Trade Balance indicates that more goods and services were exported than imported. A rising trend has a positive effect on the nation's currency. As higher levels of exports are sold to the world, demand for the nation's currency is elevated as foreigners convert their native currency to purchase these exports. The Trade Balance also has a sizable impact on GDP because high demand for exports creates increased employment and production as domestic factories work to fill this foreign demand.
| 1:30pm | CAD | New Housing Price Index m/m |  | 0.5% | 0.6% | 1.5% | [read]
Definition The New Housing Price Index (NHPI) measures monthly changes in the selling prices of new residential houses. The NHPI is used as the inflation measure of new home construction.
| 1:30pm | USD | Unemployment Claims |  | 308K | 315K | 327K | [read]
Definition Measures the number of individuals who filed for unemployment insurance for the first time over the past week. A falling trend has a positive effect on the nation's currency. Working people tend to spend more, and consumer spending is a major driver of the economy. However, unemployment usually draws little attention because traders view it as a lagging indicator.
| 1:30pm | USD | Import Price Index m/m |  | -2.0% | -0.9% | -2.1% | [read]
Definition Measures the monthly rate of inflation for imported goods.
| all day | EUR | ECB Central Banking Conference Begins |  |  |  |  | [read]
Definition The Fourth ECB Central Banking Conference, “The role of money: Money and monetary policy in the twenty-first century,” will begin in Frankfurt Germany. This two-day conference will host a number of policy makers and economists from around the world.
| 3:00pm | USD | Consumer Sentiment (p) |  | 92.3 | 93.4 | 93.6 | [read]
Definition Measures consumer attitudes concerning both the present situation and future expectations. It's derived from a monthly 500-person survey conducted by the University of Michigan. Higher sentiment levels are a leading indicator of rising consumer spending, which accounts for a third of the economy.
| 3:00pm | USD | Wholesale Inventories m/m |  | 0.8% | 0.7% | 1.1% | [read]
Definition Measures the monthly change in total value of inventory at the wholesale level.
| 3:30pm | GBP | Leading Index m/m |  | 0.2% |  | 0.2% | [read]
Definition Measures overall economic health by combining ten indicators including average weekly hours, new orders, consumer expectations, housing permits, stock prices, and interest rate spreads. The Leading Index is published monthly by The Conference Board, a 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.
Fri. 11/10 | 5:00am | JPY | Core Machinery Orders m/m |  | -7.4% | 2.2% | 6.7% | [read]
Definition Measures the monthly change in value of new orders placed with machine manufacturers, excluding volatile orders.
| tentative | EUR | German Wholesale Price Index m/m |  | -0.2% | 0.1% | -0.5% | [read]
Definition The Wholesale Price Index (WPI) measures the rate of inflation experienced at the wholesale level. The reading represents the monthly change in the average price of a fixed basket of goods and services purchased at the wholesale level.
| 11:00am | EUR | OECD Leading Indicators |  | 109.6 | 109.2 | 109.2 | [read]
Definition The Organization for Economic Co-operation and Development (OECD) Composite Leading Indicators (CLI) measures overall economic health by combining a number of indicators. Traders tend to pay little attention because the components that make up the index are reported at an earlier date.
| 1:45pm | USD | Fed Chairman Bernanke Speaks |  |  |  |  | [read]
Investica Analysis Optimism over the economy would offer some dollar support Definition Federal Reserve Chairman Ben Bernanke will participate in a monetary policy panel discussion at the ECB Central Banking Conference in Frankfurt.
| 1:45pm | EUR | ECB President Trichet Speaks |  |  |  |  | [read]
Investica Analysis Markets will look to see if Trichet makes any comments on Euro strength. Definition European Central Bank (ECB) President Jean-Claude Trichet will participate in a monetary policy panel discussion at the ECB Central Banking Conference in Frankfurt.
| 3:30pm | EUR | ECB President Trichet Speaks |  |  |  |  | [read]
Definition European Central Bank (ECB) President Jean-Claude Trichet will give closing remarks at the ECB Central Banking Conference in Frankfurt.
Sun. 11/12 | 11:50pm | JPY | CGPI m/m |  | -0.3% | 0.0% | 0.3% | [read]
Definition The Corporate Goods Price Index (CGPI) measures the rate of inflation experienced by corporations when purchasing goods. A rising trend has a positive effect on the nation's currency because when businesses pay more for goods, they are likely to pass the higher costs to the consumer.
| 11:50pm | JPY | Import Price Index m/m |  | -1.3% |  | 1.0% | [read]
Definition Measures the monthly rate of inflation for imported goods.
| 11:50pm | JPY | Trade Balance (f) |  | 1.11T | 1.15T | 0.31T | [read]
Definition Measures the difference in value between imported and exported goods and services. A positive Trade Balance indicates that more goods and services were exported than imported. A rising trend has a positive effect on the nation's currency. As higher levels of exports are sold to the world, demand for the nation's currency is elevated as foreigners convert their native currency to purchase these exports. The Trade Balance also has a sizable impact on GDP because high demand for exports creates increased employment and production as domestic factories work to fill this foreign demand.
Mon. 11/13 | 12:30am | AUD | RBA Quarterly Statement |  |  |  |  | [read]
Definition The Australian Reserve Bank (RBA) Quarterly Statement on Monetary Policy qualitatively and quantitatively assess current economic conditions, prospects for inflation, and output growth.
| 5:00am | JPY | Consumer Confidence |  | 48.2 | 48.5 | 46.3 | [read]
Definition Measures the mood of consumers in regard to economic conditions. The reading is derived from a monthly survey that asks respondents to evaluate the prospects for the economy in the future. Higher readings point to higher consumer optimism. When consumers are optimistic they tend to purchase more goods and services, which stimulates the economy.
| 9:30am | GBP | PPI Input m/m |  | -0.1% | -0.7% | -1.8% | [read]
Definition The Producer Price Index (PPI) Input measures the rate of inflation experienced by manufacturers when purchasing goods and services. A rising trend has a positive effect on the nation's currency. When manufactures pay more for goods and services, they are likely to pass the higher costs to the consumer, so PPI is thought to be a leading indicator of consumer inflation. PPI is highly regarded, and at extremes will have a market impact equal to that of its CPI counterpart.
| 9:30am | GBP | PPI Output m/m |  | -0.2% | 0.0% | -0.3% | [read]
Definition The Producer Price Index (PPI) Output measures the rate of inflation experienced by manufacturers when selling goods and services. Manufacturers are unlikely to pass Output inflation to the consumer, so it has much less market impact than its PPI Input counterpart.
| 2:00pm | EUR | ECB President Trichet Speaks |  |  |  |  | [read]
Definition European Central Bank (ECB) President Jean-Claude Trichet will give a keynote speech on “SEPA in the context of European Integration” at the conference “SEPA-Opportunities by change” during the 9th Euro Finance Week organised by the Maleki Group, in Frankfurt Germany.
| 9:45pm | NZD | PPI Input q/q |  | 2.0% | 0.5% | 2.7% | [read]
Definition The Producer Price Index (PPI) Input measures the rate of inflation experienced by manufacturers when purchasing goods and services. A rising trend has a positive effect on the nation's currency. When manufactures pay more for goods and services, they are likely to pass the higher costs to the consumer, so PPI is thought to be a leading indicator of consumer inflation. PPI is highly regarded, and at extremes will have a market impact equal to that of its CPI counterpart.
| 9:45pm | NZD | PPI Output q/q |  | 0.7% | 1.0% | 2.7% | [read]
Definition The Producer Price Index (PPI) Output measures the rate of inflation experienced by manufacturers when selling goods and services. Manufacturers are unlikely to pass Output inflation to the consumer, so it has much less market impact than its PPI Input counterpart.
| 11:50pm | JPY | GDP q/q (p) |  | 0.5% | 0.2% | 0.2% | [read]
Investica Analysis The markets are positioned for a disappointing figure. Definition Gross Domestic Product (GDP) measures the total value of all goods and services produced by the economy. A rising trend has a positive effect on the nation's currency. GDP is the broadest measure of economic activity and considered to be the primary gauge of an economy's health. To foreign investors, a strong economy is viewed favorably because it spurs investment opportunities in the domestic stock and bond markets. A strong economy also persuades the central bank to raise interest rates in an attempt to control growth. All of this activity will increase demand for the nation's currency.
| 11:50pm | JPY | GDP Deflator q/q |  | -0.8% | -0.8% | -0.8% | [read]
Definition The Gross Domestic Product (GDP) Deflator measures the annual implied rate of inflation for all economic activity. The deflator is used to calculate the difference between nominal and real GDP.
Tue. 11/14 | 12:30am | AUD | NAB Business Confidence |  | 6.0 |  | 6.0 | [read]
Definition National Australia Bank (NAB) Business Confidence measures the mood of domestic firms in non-farm sectors. The indicator is derived from a survey of around 350 small to large sized companies.
| 7:00am | EUR | German GDP q/q |  | 0.6% | 0.8% | 0.9% | [read]
Definition Gross Domestic Product (GDP) measures the total value of all goods and services produced by the economy. A rising trend has a positive effect on the nation's currency. GDP is the broadest measure of economic activity and considered to be the primary gauge of an economy's health. To foreign investors, a strong economy is viewed favorably because it spurs investment opportunities in the domestic stock and bond markets. A strong economy also persuades the central bank to raise interest rates in an attempt to control growth. All of this activity will increase demand for the nation's currency.
| 7:00am | EUR | German CPI m/m (f) |  | 0.1% | 0.2% | 0.2% | [read]
Definition The Consumer Price Index (CPI) measures the rate of inflation experienced by consumers when purchasing goods and services. A rising trend has a positive effect on the nation's currency. The primary objective of the central bank is to achieve price stability; when inflation rises above an annualized rate of approximately 2%, they will respond by raising interest rates to bring prices down. Higher interest rates attract foreign investment, thus increasing demand for the nation's currency. CPI is one of the most closely watched indicators and will usually have a high impact upon release.
| 9:30am | GBP | CPI m/m |  | 0.2% | 0.2% | 0.1% | [read]
Definition The Consumer Price Index (CPI) measures the rate of inflation experienced by consumers when purchasing goods and services. A rising trend has a positive effect on the nation's currency. The primary objective of the central bank is to achieve price stability; when inflation rises above an annualized rate of approximately 2%, they will respond by raising interest rates to bring prices down. Higher interest rates attract foreign investment, thus increasing demand for the nation's currency. CPI is one of the most closely watched indicators and will usually have a high impact upon release.
| 9:30am | GBP | Core CPI y/y |  | 1.4% | 1.6% | 1.4% | [read]
Definition Derivative of the Consumer Price Index (CPI) that excludes the volatile Food, Energy, Alcohol and Tobacco items. CPI with the exclusion of these volatile components is thought to be a better indicator of the underlying inflation trend and the central bank uses it as their primary inflation gauge, aiming to keep it at an annualized rate of 2%.
| 10:00am | EUR | German ZEW Economic Sentiment |  | -28.5 | -25.5 | -27.4 | [read]
Investica Analysis Lower energy prices could help trigger a stronger report Definition Zentrum für Europäische 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 analysts 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.
| 10:00am | EUR | ZEW Economic Sentiment |  | 11.0 | -11.5 | -12.5 | [read]
Definition Zentrum für Europäische 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 analysts 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.
| 10:00am | EUR | GDP q/q (p) |  | 0.5% | 0.9% | 0.9% | [read]
Definition Gross Domestic Product (GDP) measures the total value of all goods and services produced by the economy. A rising trend has a positive effect on the nation's currency. GDP is the broadest measure of economic activity and considered to be the primary gauge of an economy's health. To foreign investors, a strong economy is viewed favorably because it spurs investment opportunities in the domestic stock and bond markets. A strong economy also persuades the central bank to raise interest rates in an attempt to control growth. All of this activity will increase demand for the nation's currency.
| 1:30pm | USD | PPI m/m |  | -1.6% | -0.3% | -1.3% | [read]
Investica Analysis Energy costs should trigger another monthly drop in prices Definition The Producer Price Index (PPI) measures the rate of inflation experienced by manufacturers when purchasing goods and services. A rising trend has a positive effect on the nation's currency. When manufactures pay more for goods and services, they are likely to pass the higher costs to the consumer, so PPI is thought to be a leading indicator of consumer inflation. PPI is highly regarded, and at extremes will have a market impact equal to that of its CPI counterpart.
| 1:30pm | USD | Core PPI m/m |  | -0.9% | 0.2% | 0.6% | [read]
Investica Analysis The data has been erratic over the past two months Definition Derivative of the Producer Price Index (PPI) that excludes the Food and Energy items. Although Food and Energy can be very volatile from month to month, they play an important role in pass-through inflation. Therefore Core PPI usually has less impact than the overall PPI.
| 1:30pm | USD | Retail Sales m/m |  | -0.2% | -0.4% | -0.4% | [read]
Definition Measures the total value of sales at the retail level. A rising trend has a positive effect on the nation's currency. Consumer spending makes up a large portion of GDP, and Retail Sales makes up one-third of consumer spending. This indicator is usually the first of the month that relates to consumer behavior, making it susceptible to big surprises.
| 1:30pm | USD | Retail Sales excl. Autos m/m |  | -0.4% | -0.1% | -0.5% | [read]
Investica Analysis The figure excluding gasoline will be important Definition Derivative of Retail Sales that excludes the Automobile Sales component. Automobile Sales make up roughly 25% of Retail Sales, but they can be very volatile from month to month and can distort the picture. Retail Sales with the exclusion of this volatile component is thought to be a better indicator of the underlying trend in consumer spending.
| 5:30pm | USD | St. Louis Fed President Poole Speaks |  |  |  |  | [read]
Definition St. Louis Federal Reserve President William Poole will speak to the Chartered Financial Analysts Society, in Philadelphia Pennsylvania.
| 9:45pm | NZD | Retail Sales m/m |  | 1.2% | 0.0% | 0.0% | [read]
Investica Analysis A dip in sales of more than 0.5% would cause substantial damage to the New Zealand dollar. Definition Measures the total value of sales at the retail level. A rising trend has a positive effect on the nation's currency. Consumer spending makes up a large portion of GDP, and Retail Sales makes up one-third of consumer spending. This indicator is usually the first of the month that relates to consumer behavior, making it susceptible to big surprises.
| 11:30pm | AUD | WMI Consumer Sentiment m/m |  | -9.7% |  | 3.9% | [read]
Definition The Westpac Melbourne Institute (WMI) Consumer Sentiment measures the mood of consumers in regard to economic conditions. The reading is derived from a monthly survey that asks respondents to evaluate the prospects for the economy in the future.
| 11:50pm | JPY | Tertiary Industry Index m/m |  | -1.3% | -0.7% | 0.7% | [read]
Definition Measures the monthly change in production activity in Japan's service industries. Traders watch this indicator closely, as a rising trend generally leads to higher overall economic growth.
Wed. 11/15 | 12:30am | AUD | WPI q/q |  | 0.8% | 0.9% | 1.1% | [read]
Definition The Wage Price Index (WPI) measures the rate of inflation in the wages paid to workers. A rising trend has a positive effect on the nation's currency. When businesses pay more for labor, they are likely to pass the higher costs to the consumer, so traders view wage inflation as a leading indicator of consumer inflation.
| 12:30am | AUD | House Price Index q/q |  | 2.2% | 1.0% | 3.1% | [read]
Definition Measures the quarterly change in the average price of residential properties.
| 9:30am | GBP | Claimant Count Change |  | 1.2K | 3.0K | 10.2K | [read]
Definition Measures the change in the number of people claiming unemployment related benefits over the previous month. A falling trend has a positive effect on the nation's currency. Working people tend to spend more, and consumer spending is a major driver of the economy. However, unemployment usually draws little attention because traders view it as a lagging indicator.
| 9:30am | GBP | Average Earnings Index +Bonus q/y |  | 3.9% | 4.2% | 4.2% | [read]
Definition The Average Earnings Index (AEI) measures the average wage, including bonuses, paid to employees. The indicator reading represents the change in the current quarter when compared to the same quarter in the previous year.
| 9:30am | GBP | Unemployment Rate |  | 5.6% | 5.5% | 5.5% | [read]
Definition Measures the percentage of the total work force that is unemployed and actively seeking employment. A falling trend has a positive effect on the nation's currency. Working people tend to spend more, and consumer spending is a major driver of the economy. However, unemployment usually draws little attention because traders view it as a lagging indicator.
| 10:00am | EUR | Industrial Production m/m |  | -1.0% | 0.0% | 1.8% | [read]
Definition Measures the total value of output produced by factories, mines, and utilities. A rising trend has a positive effect on the nation's currency because high levels of production are a sign of a strong economy. Industrial Production reacts quickly to the ups and downs of the business cycle and can predict manufacturing employment, average earnings, and personal income.
| 10:30am | GBP | BOE Quarterly Inflation Report |  |  |  |  | [read]
Investica Analysis The inflation forecasts will be important for interest rate expectations. Definition The Bank of England (BOE) Quarterly Inflation Report sets out the detailed economic analysis and inflation projections on which the Bank's Monetary Policy Committee bases its interest rate decisions, and presents an assessment of the prospects for UK inflation over the following two years.
| 1:30pm | CAD | New Motor Vehicle Sales m/m |  | -4.2% | -3.8% | 2.8% | [read]
Definition Measures monthly sales of new motor vehicles by unit of sales and value, by type (passenger cars, commercial vehicles) and country of origin. Data is released for Canada and the ten provinces.
| 1:30pm | CAD | Manufacturing Shipments m/m |  | -3.3% | -1.0% | -0.3% | [read]
Definition Manufacturing Shipments is a measure of the monthly change in value of Canadian manufacturers' shipments.
| 1:30pm | USD | Empire Manufacturing Index |  | 26.7 | 15.0 | 22.9 | [read]
Investica Analysis The correlation with the national index has been weak ove the past few months. Definition Measures the activity of manufacturers in New York State. The New York Fed conducts this monthly survey that asks roughly 175 manufacturing executives to rate their business on an assortment of indicators, concerning both the present situation and future expectations.
| 3:30pm | USD | EIA Crude Oil Inventories |  | 1.3M |  | 0.4M | [read]
Definition The Energy Information Administration's (EIA) Crude Oil Inventories measures the weekly increase in barrels of commercial crude oil held in inventory by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation and other economic forces.
| 7:00pm | USD | FOMC Meeting Minutes |  |  |  |  | [read]
Investica Analysis The minutes should show Fed vigilance on inflation. Definition The Federal Open Market Committee (FOMC) Meeting Minutes are a verbatim record of the committee's meeting held about two weeks earlier. The minutes give traders insight into the latest interest rate decision and policy shifts.
Thu. 11/16 | 12:01am | GBP | RICS House Price Balance |  | 48% | 40% | 45% | [read]
Definition The Royal Institution of Chartered Surveyors (RICS) House Price Balance measures the price change of homes in the UK. This leading indicator represents the percentage of chartered surveyors reporting a price rise in their designated area. For instance, a reading of 50% means that 50% more surveyors reported a rise than reported a fall in prices.
| 12:30am | AUD | Average Weekly Earnings q/q |  | 0.7% |  | 0.6% | [read]
Definition Measures the change in average weekly earnings for all wage and salary earners over the last quarter.
| tentative | JPY | Interest Rate Statement |  | 0.25% | 0.25% | 0.25% | [read]
Definition The central bank's governing body, the Bank of Japan (BOJ) Monetary Policy Committee, releases an Interest Rate Statement each month. The statement contains the latest decision regarding changes to the nation's short term interest rate ("overnight call rate"). A rising trend has a positive effect on the nation's currency. Short term interest rates are the paramount factor in currency valuation; traders look at most other indicators merely to predict how interest rates may change in the future. What makes interest rates so important is that high rates attract foreigners looking for the best "risk-free" return on their money, which significantly increases demand for the nation's currency. The primary objective of the central bank is to achieve price stability; when inflation rises above an annualized rate of approximately 2%, they will respond by raising interest rates in an attempt to bring prices down. This is what makes inflation-predicting indicators so important. Traders know that rising prices will lead the central bank to raise interest rates, which ultimately leads to a more valuable currency.
| 6:30am | JPY | BOJ Governor Fukui Speaks |  |  |  |  | [read]
Definition Bank of Japan (BOJ) Governor Toshihiko Fukui will speak at a press conference following the Monetary Policy Committee meeting in Tokyo. The BOJ Interest Rate Statement is void of commentary, so traders usually focus on Fukui's post-release press conference for clues about future rate decisions.
| 9:30am | GBP | Retail Sales m/m |  | 0.9% | 0.2% | -0.4% | [read]
Definition Measures the total value of sales at the retail level. A rising trend has a positive effect on the nation's currency. Consumer spending makes up a large portion of GDP, and Retail Sales makes up one-third of consumer spending. This indicator is usually the first of the month that relates to consumer behavior, making it susceptible to big surprises.
| 10:00am | EUR | CPI m/m (f) |  | 0.1% | 0.1% | 0.0% | [read]
Definition The Consumer Price Index (CPI) measures the rate of inflation experienced by consumers when purchasing goods and services. A rising trend has a positive effect on the nation's currency. The primary objective of the central bank is to achieve price stability; when inflation rises above an annualized rate of approximately 2%, they will respond by raising interest rates to bring prices down. Higher interest rates attract foreign investment, thus increasing demand for the nation's currency. CPI is one of the most closely watched indicators and will usually have a high impact upon release.
| 1:30pm | CAD | International Securities Transactions |  | -3.1B | 335M | 900M | [read]
Definition Measures the value of domestic securities, debt and assets purchased by foreigners in the previous month. Strong demand tends to strengthen the Canadian dollar as foreigners convert their money in order to purchase Canadian securities.
| 1:30pm | USD | CPI m/m |  | -0.5% | -0.3% | -0.5% | [read]
Definition The Consumer Price Index (CPI) measures the rate of inflation experienced by consumers when purchasing goods and services. A rising trend has a positive effect on the nation's currency. The primary objective of the central bank is to achieve price stability; when inflation rises above an annualized rate of approximately 2%, they will respond by raising interest rates to bring prices down. Higher interest rates attract foreign investment, thus increasing demand for the nation's currency. CPI is one of the most closely watched indicators and will usually have a high impact upon release.
| 1:30pm | USD | Core CPI m/m |  | 0.1% | 0.2% | 0.2% | [read]
Investica Analysis The core figure will be important for the Federal Reserve Definition Derivative of the Consumer Price Index (CPI) that excludes the Food and Energy items. Food and Energy account for roughly 25% of CPI, but they can be very volatile from month to month and can distort the overall picture. CPI with the exclusion of these volatile components is thought to be a better indicator of the underlying inflation trend.
| 1:30pm | USD | Unemployment Claims |  | 308K | 310K | 308K | [read]
Definition Measures the number of individuals who filed for unemployment insurance for the first time over the past week. A falling trend has a positive effect on the nation's currency. Working people tend to spend more, and consumer spending is a major driver of the economy. However, unemployment usually draws little attention because traders view it as a lagging indicator.
| 2:00pm | USD | TIC Report |  | 65.1B | 63.0B | 116.8B | [read]
Investica Analysis A figure below US$30bn would unsettle the dollar Definition The Treasury International Capital (TIC) Report measures foreign demand for US debt and assets. Strong demand tends to strengthen the dollar as foreigners convert their money in order to purchase US securities.
| 2:10pm | USD | Fed Governor Kroszner Speaks |  |  |  |  | [read]
Definition Federal Reserve Governor Randall Kroszner will give the keynote address at the Cato Institute annual monetary policy conference, in Washington.
| 2:15pm | USD | Industrial Production m/m |  | 0.2% | 0.2% | -0.6% | [read]
Investica Analysis Utility output changes will be important Definition Measures the total value of output produced by factories, mines, and utilities. A rising trend has a positive effect on the nation's currency because high levels of production are a sign of a strong economy. Industrial Production reacts quickly to the ups and downs of the business cycle and can predict manufacturing employment, average earnings, and personal income.
| 2:15pm | USD | Capacity Utilization Rate |  | 82.2% | 82.2% | 81.9% | [read]
Definition Measures the percentage of available resources being utilized among factories, mines and utilities. A rising rate signals that resources are being utilized to their fullest capacity, which is a leading indicator of inflationary pressures.
| 2:45pm | USD | St. Louis Fed President Poole Speaks |  |  |  |  | [read]
Definition St. Louis Federal Reserve President William Poole will participate in the Cato Institute panel on the Fed's role in responding to financial crises, in Washington DC.
| 3:00pm | USD | Fed Governor Bies Speaks |  |  |  |  | [read]
Definition Federal Reserve Governor Susan Schmidt Bies will speak at the EU/US retail banking forum, in Washington DC.
| 3:00pm | USD | Chicago Fed President Moskow Speaks |  |  |  |  | [read]
Definition Chicago Federal Reserve President Michael Moskow will speak about the economic outlook at the American Business Media meeting, in Chicago.
| 5:00pm | USD | Philadelphia Fed Index |  | 5.1 | 5.0 | -0.7 | [read]
Investica Analysis Another negative figure would be a big setback for the dollar Definition Measures the mood of manufacturers in the Philadelphia Federal Reserve District. The Philadelphia Fed conducts a monthly survey that asks respondents to rate their business on an assortment of indicators, concerning both the present situation and future expectations. The survey results are converted into a general index of business and manufacturing conditions within the Philadelphia Federal Reserve district.
| 6:00pm | USD | NAHB Housing Market Index |  | 33 | 30 | 31 | [read]
Definition The National Association of Home Builders (NAHB) Housing Market Index (HMI) combines several factors including present sales of new homes, sales of new homes expected in the next six months, and traffic of prospective buyers in new homes. The NAHB produces the index through a survey in which respondents are asked to rate the general economy and housing market conditions.
| 10:00pm | AUD | Head of International Debelle Speaks |  |  |  |  | [read]
Definition Reserve Bank of Australia (RBA) Head of International Dr. Guy Debelle will speak about the Australian foreign exchange market, in Sydney.
Fri. 11/17 | 7:45am | EUR | French Nonfarm Employment Change q/q |  | 0.1% | 0.3% | 0.3% | [read]
Definition Measures the number of new jobs created in the previous quarter, excluding the farming industry. A rising trend has a positive effect on the nation's currency. The number of new jobs being created is one of the most important indicators of the economy's health because consumer spending, which is highly correlated with labor conditions, makes up a large portion of GDP.
| 10:00am | EUR | Trade Balance |  | 2.0B | -3.5B | -5.5B | [read]
Definition Measures the difference in value between imported and exported goods and services. A positive Trade Balance indicates that more goods and services were exported than imported. A rising trend has a positive effect on the nation's currency. As higher levels of exports are sold to the world, demand for the nation's currency is elevated as foreigners convert their native currency to purchase these exports. The Trade Balance also has a sizable impact on GDP because high demand for exports creates increased employment and production as domestic factories work to fill this foreign demand.
| 1:30pm | USD | Housing Starts |  | 1.49M | 1.68M | 1.77M | [read]
Investica Analysis Any monthly recovery would boost confidence in a controlled US slowdown. Definition Measures the number of new single-family homes or buildings constructed throughout the previous month.
| 1:30pm | USD | Building Permits |  | 1.54M | 1.65M | 1.64M | [read]
Definition Measures the number of new construction intentions. This data is a leading indicator for the construction industry since the issuance of a building permit is one of the first steps in the construction process.
| tentative | ALL | G-20 Meeting Begins |  |  |  |  | [read]
Definition G-20 finance ministers and central bankers will begin their meeting at the Melbourne Australia summit, where they will discuss the global economic outlook and changes to the International Monetary Fund's quota system.
Mon. 11/20 | 12:01am | GBP | Rightmove House Price Index m/m |  | 1.5% |  | 2.0% | [read]
Definition Measures the monthly change in the average asking price of residential properties. Rightmove, the UK's leading property website, publishes this indicator in the same month the data is collected, making it a leading indicator of inflation in the housing sector.
| all day | ALL | BIS Meeting |  |  |  |  | [read]
Definition Following the G20 meeting, central bankers will meet at the BIS (Bank for International Settlements) forum, in Sydney Australia. Central bankers from the Federal Reserve, ECB, RBNZ, and BOJ are expected to make speeches and talk to reporters.
| 7:00am | EUR | German PPI m/m |  | 0.3% | 0.0% | -0.3% | [read]
Definition The Producer Price Index (PPI) measures the rate of inflation (i.e., the rate of price changes) experienced by manufacturers when purchasing goods and services. A rising trend has a positive effect on the nation's currency. When manufactures pay more for goods and services, they are likely to pass the higher costs to the consumer, so PPI is thought to be a leading indicator of consumer inflation. PPI is highly regarded, and at extremes will have a market impact equal to that of its CPI counterpart.
| 9:30am | GBP | Public Sector Net Borrowing |  | -1.5B | -1.0B | 7.0B | [read]
Definition Measures the amount by which public sector expenditure exceeds income for both current and capital transactions. The "public sector" is the part of the economy that includes central government, local government and public corporations. It gives insight into the state of consumer finances and can act as a leading indicator of consumer spending.
| 9:30am | GBP | M4 Money Supply m/m |  | 0.9% | 1.0% | 1.7% | [read]
Definition Measures the monthly change in currency outstanding. Higher levels of currency are viewed as deflationary and can have a devaluing effect on the currency. M4 Money Supply is calculated as M0 + UK residents' bank deposits + deposits made by the private sector.
| 1:30pm | CAD | Wholesale Sales m/m |  | -1.6% | 0.4% | 0.5% | [read]
Definition Measures the monthly change in total value of sales at the wholesale level.
| 3:00pm | USD | Leading Index m/m |  | 0.2% | 0.5% | 0.1% | [read]
Definition Measures overall economic health by combining ten indicators including average weekly hours, new orders, consumer expectations, housing permits, stock prices, and interest rate spreads. The Leading Index is published monthly by The Conference Board, a 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.
| 7:00pm | USD | Dallas Fed President Fisher Speaks |  |  |  |  | [read]
Definition Dallas Federal Reserve President Richard Fisher will speak about the German economic situation, in Berlin Germany.
| 9:45pm | NZD | Visitor Arrivals |  | 187K | 200K | 167K | [read]
Definition Measures the number short-term overseas visitors who arrive in the country and stay for less than one year.
Tue. 11/21 | 12:30am | AUD | New Motor Vehicle Sales m/m |  | 0.0% |  | 3.0% | [read]
Definition Measures the number of new vehicles sold in the previous month. New vehicle sales are a good indicator of trends in consumer spending.
| 5:00am | JPY | BOJ Meeting Minutes |  |  |  |  | [read]
Definition The Bank of Japan (BOJ) Meeting Minutes are a verbatim record of the bank's meeting held about one month earlier. The minutes give traders insight into the latest interest rate decision and policy shifts.
| 7:15am | CHF | Trade Balance |  | 1.58B | 1.35B | 1.76B | [read]
Definition Measures the difference in value between imported and exported goods and services. A positive Trade Balance indicates that more goods and services were exported than imported. A rising trend has a positive effect on the nation's currency. As higher levels of exports are sold to the world, demand for the nation's currency is elevated as foreigners convert their native currency to purchase these exports. The Trade Balance also has a sizable impact on GDP because high demand for exports creates increased employment and production as domestic factories work to fill this foreign demand.
| 7:30am | EUR | ECB President Trichet Speaks |  |  |  |  | [read]
Definition European Central Bank (ECB) President Jean-Claude Trichet will speak at the EMEAP/Eurosystem High-level Seminar jointly organised by the European Central Bank and Reserve Bank of New Zealand in Sydney, Australia.
| 7:30am | NZD | RBNZ Governor Bollard Speaks |  |  |  |  | [read]
Definition Reserve Bank of New Zealand (RBNZ) Governor Alan Bollard will speak at the EMEAP/Eurosystem High-level Seminar jointly organised by the European Central Bank and Reserve Bank of New Zealand in Sydney, Australia.
| 8:15am | CHF | PPI m/m |  | -0.1% | -0.1% | 0.0% | [read]
Definition The Producer Price Index (PPI) measures the rate of inflation (i.e., the rate of price changes) experienced by manufacturers when purchasing goods and services. A rising trend has a positive effect on the nation's currency. When manufactures pay more for goods and services, they are likely to pass the higher costs to the consumer, so PPI is thought to be a leading indicator of consumer inflation. PPI is highly regarded, and at extremes will have a market impact equal to that of its CPI counterpart.
| 11:00am | GBP | CBI Industrial Trends Orders |  | -6 | -15 | -20 | [read]
Investica Analysis A further deterioration in the survey would cause Sterling concern. Definition The Confederation of British Industry (CBI) Industrial Trends Orders measures the level of new orders placed with manufacturers.
| 1:30pm | CAD | Retail Sales m/m |  | -1.2% | -0.2% | 1.0% | [read]
Definition Measures the total value of sales at the retail level. A rising trend has a positive effect on the nation's currency. Consumer spending makes up a large portion of GDP, and Retail Sales makes up one-third of consumer spending. This indicator is usually the first of the month that relates to consumer behavior, making it susceptible to big surprises.
| 1:30pm | CAD | Retail Sales excl. Autos m/m |  | -0.9% | -0.3% | 0.4% | [read]
Definition Derivative of Retail Sales that excludes the Automobile Sales component. Automobile Sales make up roughly 25% of Retail Sales, but they can be very volatile from month to month and can distort the picture. Retail Sales with the exclusion of this volatile component is thought to be a better indicator of the underlying trend in consumer spending.
| 1:30pm | CAD | Leading Indicators m/m |  | 0.2% | 0.4% | 0.4% | [read]
Definition Measures overall economic health by combining ten indicators including average weekly hours, new orders, consumer expectations, housing permits, stock prices, and interest rate spreads.
| 2:00pm | USD | Fed Governor Warsh Speaks |  |  |  |  | [read]
Definition Federal Reserve Governor Kevin Warsh will speak about market discipline at the New York Stock Exchange. Audience questions expected.
| 11:50pm | JPY | Trade Balance (p) |  | 0.61T | 1.00T | 1.01T | [read]
Definition Measures the difference in value between imported and exported goods and services. A positive Trade Balance indicates that more goods and services were exported than imported. A rising trend has a positive effect on the nation's currency. As higher levels of exports are sold to the world, demand for the nation's currency is elevated as foreigners convert their native currency to purchase these exports. The Trade Balance also has a sizable impact on GDP because high demand for exports creates increased employment and production as domestic factories work to fill this foreign demand.
| 11:50pm | JPY | All Industries Index m/m |  | -0.9% | -0.9% | 0.7% | [read]
Definition Adds data from the primary sector (including fishing, farming, forestry, mining, and manufacturing) to the Tertiary Industry Index.
Wed. 11/22 | 9:30am | GBP | BOE Meeting Minutes |  | 7-2 | 8-1 | 7-2 | [read]
Investica Analysis More than one dissenting vote would tend to undermine Sterling. Definition The Bank of England (BOE) Meeting Minutes are a verbatim record of the bank's meeting held about two weeks earlier. The minutes give traders insight into the latest interest rate decision and policy shifts.
| 10:00am | EUR | Industrial New Orders m/m |  | -1.3% | -2.0% | 3.7% | [read]
Definition Measures the monthly change in value of future deliveries to be provided by a producer to a third party. This leading indicator points to how busy producers will be in following months as they work to fill the orders.
| 12:00pm | CAD | CPI m/m |  | -0.2% | -0.1% | -0.5% | [read]
Definition The Consumer Price Index (CPI) measures the rate of inflation (i.e., the rate of price changes) experienced by consumers when purchasing goods and services. A rising trend has a positive effect on the nation's currency. The primary objective of the central bank is to achieve price stability; when inflation rises above an annualized rate of approximately 2%, they will respond by raising interest rates to bring prices down. Higher interest rates attract foreign investment, thus increasing demand for the nation's currency. CPI is one of the most closely watched indicators and will usually have a high impact upon release.
| 12:00pm | CAD | Core CPI m/m |  | 0.1% | 0.1% | 0.6% | [read]
Investica Analysis A figure above 0.3% would revive pressure for higher interest rates Definition Derivative of the Consumer Price Index (CPI) that excludes the eight most volatile items, including fruit, fruit preparations and nuts, vegetables and vegetable preparations, mortgage interest costs, natural gas, fuel oil and other fuel, gasoline, inter-city transportation, and tobacco products and smokers' supplies. CPI with the exclusion of these volatile components is thought to be a better indicator of the underlying inflation trend and the central bank uses it as their primary inflation gauge, aiming to keep it at an annualized rate of 2%.
| 1:30pm | USD | Unemployment Claims |  | 321K | 310K | 308K | [read]
Definition Measures the number of individuals who filed for unemployment insurance for the first time over the past week. A falling trend has a positive effect on the nation's currency. Working people tend to spend more, and consumer spending is a major driver of the economy. However, unemployment usually draws little attention because traders view it as a lagging indicator.
| 3:00pm | USD | Consumer Sentiment (f) |  | 92.1 | 92.3 | 92.3 | [read]
Definition Measures consumer attitudes concerning both the present situation and future expectations. It's derived from a monthly 500-person survey conducted by the University of Michigan. Higher sentiment levels are a leading indicator of rising consumer spending, which accounts for a third of the economy.
| 3:30pm | USD | EIA Crude Oil Inventories |  | 5.1M |  | 1.3M | [read]
Definition The Energy Information Administration's (EIA) Crude Oil Inventories measures the weekly increase in barrels of commercial crude oil held in inventory by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation and other economic forces.
| all day | JPY | Holiday: Labour Thanksgiving Day |  |  |  |  | [read]
Definition Japanese financial markets will be closed in observance of Labour Thanksgiving Day.
Thu. 11/23 | 7:00am | EUR | German GDP q/q (f) |  | 0.6% | 0.6% | 0.6% | [read]
Definition Gross Domestic Product (GDP) measures the total value of all goods and services produced by the economy. A rising trend has a positive effect on the nation's currency. GDP is the broadest measure of economic activity and considered to be the primary gauge of an economy's health. To foreign investors, a strong economy is viewed favorably because it spurs investment opportunities in the domestic stock and bond markets. A strong economy also persuades the central bank to raise interest rates in an attempt to control growth. All of this activity will increase demand for the nation's currency.
| 8:15am | CHF | Employment |  | 3.69M | 3.70M | 3.65M | [read]
Definition Measures the number of full and part-time employees working in the previous quarter. A rising trend has a positive effect on the nation's currency. The number of new jobs being created is one of the most important indicators of the economy's health because consumer spending, which is highly correlated with labor conditions, makes up a large portion of GDP.
| 9:00am | EUR | German Ifo Business Climate Index |  | 106.8 | 105.3 | 105.3 | [read]
Definition The Information and Forschung (Ifo) Business Climate Index measures the mood of firms in manufacturing, construction, wholesale and retail. The index is derived from a monthly survey of over 7,000 firms where respondents are asked to give their assessments of the current business situation and their expectations for the next six months. The indicator reading is a transformed mean of the balances of the business situations and the expectations, and can fluctuate between extreme values of -100 (i.e., all responding firms appraise their situation as poor or expect business to become worse) and +100 (i.e., all responding firms assessed their situation as good or expect an improvement in their business).
| 9:00am | EUR | Current Account |  | -0.3B |  | -6.9B | [read]
Definition Measures the difference in value between imported and exported goods, services, income flows, and unilateral transfers. The Current Account is a comprehensive accounting of the nation's trade with other countries. A rising trend has a positive effect on the nation's currency. The Current Account includes the previously reported Trade Balance (which covers trade of goods and services), so the market's focus for this indicator is on the income flows and unilateral transfers.
| all day | USD | Holiday: Thanksgiving Day |  |  |  |  | [read]
Merlin Says The Forex market as a whole will be open, but your broker may close for a period, especially if they are US based. This creates a situation where you could have an open position in the market but not have access to close your position or place orders. Make sure you check the schedule of your specific broker and plan accordingly. Definition US financial markets will be closed in observance of Thanksgiving Day.
| 9:45pm | NZD | Trade Balance |  | -1.2B | -500M | -588M | [read]
Definition Measures the difference in value between imported and exported goods and services. A positive Trade Balance indicates that more goods and services were exported than imported. A rising trend has a positive effect on the nation's currency. As higher levels of exports are sold to the world, demand for the nation's currency is elevated as foreigners convert their native currency to purchase these exports. The Trade Balance also has a sizable impact on GDP because high demand for exports creates increased employment and production as domestic factories work to fill this foreign demand.
Fri. 11/24 | tentative | EUR | German CPI m/m (p) |  | -0.1% | -0.1% | 0.1% | [read]
Definition The Consumer Price Index (CPI) measures the rate of inflation (i.e., the rate of price changes) experienced by consumers when purchasing goods and services. A rising trend has a positive effect on the nation's currency. The primary objective of the central bank is to achieve price stability; when inflation rises above an annualized rate of approximately 2%, they will respond by raising interest rates to bring prices down. Higher interest rates attract foreign investment, thus increasing demand for the nation's currency. CPI is one of the most closely watched indicators and will usually have a high impact upon release.
| 9:30am | GBP | GDP q/q (p) |  | 0.7% | 0.7% | 0.7% | [read]
Definition Gross Domestic Product (GDP) measures the total value of all goods and services produced by the economy. A rising trend has a positive effect on the nation's currency. GDP is the broadest measure of economic activity and considered to be the primary gauge of an economy's health. To foreign investors, a strong economy is viewed favorably because it spurs investment opportunities in the domestic stock and bond markets. A strong economy also persuades the central bank to raise interest rates in an attempt to control growth. All of this activity will increase demand for the nation's currency.
Mon. 11/27 | tentative | AUD | New Home Sales m/m |  | 1.3% | 1.0% | -3.0% | [read]
Definition Measures the monthly change in the number of newly constructed homes sold in the previous month.
| tentative | JPY | BOJ Governor Fukui Speaks |  |  |  |  | [read]
Definition Bank of Japan (BOJ) Governor Toshihiko Fukui will meet with local business executives in Osaka and speak at an event held by Osaka University.
| 9:00am | JPY | BOJ Governor Fukui Speaks |  |  |  |  | [read]
Definition Bank of Japan (BOJ) Governor Toshihiko Fukui will speak at a press conference held by Osaka Universiy.
| 12:00pm | NZD | Business Confidence |  | -14.0 | -19.0 | -21.7 | [read]
Definition Measures the mood of businesses in regard to economic expectations. It's derived from a monthly survey of 1,500 businesses conducted by the National Bank of New Zealand.
| 11:50pm | JPY | Retail Sales y/y |  | 0.1% | 0.7% | 0.7% | [read]
Definition Measures the annual change in total value of sales at the retail level. A rising trend has a positive effect on the nation's currency. Consumer spending makes up a large portion of GDP, and Retail Sales makes up one-third of consumer spending. This indicator is usually the first of the month that relates to consumer behavior, making it susceptible to big surprises.
| 11:50pm | JPY | Large Retailers' Sales y/y |  | -1.6% | 0.0% | 0.8% | [read]
Definition Measures the annual change in sales value and volume of Japan's largest retailers.
Tue. 11/28 | 1:00am | JPY | BOJ Governor Fukui Speaks |  |  |  |  | [read]
Definition Bank of Japan (BOJ) Governor Toshihiko Fukui will speak at a press conference in Nagoya.
| 1:30am | AUD | RBA Economist Richards Speaks |  |  |  |  | [read]
Definition Reserve Bank of Australia (RBA) Head of Economic Analysis Dr. Tony Richards will give a speach about 'Measuring Underlying Inflation', in Sydney.
| 7:00am | EUR | German Consumer Confidence |  | 9.4 | 10.0 | 9.2 | [read]
Definition Measures the mood of consumers in regard to economic conditions. The reading is derived from a monthly survey that asks respondents to evaluate the prospects for the economy in the future. GfK, a leading German market research company, publishes this indicator monthly. Higher readings point to higher consumer optimism. When consumers are optimistic they tend to purchase more goods and services, which stimulates the economy.
| tentative | CHF | Consumption Indicator |  | 1.960 |  | 1.883 | [read]
Definition Measures private consumption trends by considering new car sales, business conditions in the retail sector, the number of overnight hotel stays, the consumer sentiment index, and certain credit card transactions. UBS publishes this indicator monthly, leading official statistics by up to three months.
| 9:00am | EUR | M3 Money Supply y/y |  | 8.5% | 8.8% | 8.5% | [read]
Definition Measures the annual change in currency outstanding. Higher levels of currency are viewed as deflationary and can have a devaluing effect on the currency . M3 Money Supply is calculated as follows: M1 = currency in circulation + overnight deposits M2 = M1 + deposits with agreed maturity up to 2 years + deposits redeemable up to 3 months' notice M3 = M2 + repurchase agreements + money market fund shares/units and money market paper + debt securities issued up to 2 years
| 1:30pm | USD | Durable Goods Orders m/m |  | -8.3% | -5.0% | 8.3% | [read]
Investica Analysis There will be a sharp headline drop as transport orders decline. Definition Measures the value of new purchase orders placed with domestic manufacturers for hard goods with a life expectancy of more than 3 years, such as automobiles, computers, appliances, and airplanes. A rising trend has a positive effect on the nation's currency. While most indicators tell what happened in the past, Durable Goods Orders paints a picture of the future. It uncovers how busy manufacturers will be in the months to come as they work to fill new orders, and a busy manufacturing industry is a positive sign that the economy is expanding.
| 1:30pm | USD | Core Durable Goods Orders m/m |  | -1.7% | 0.4% | 0.5% | [read]
Definition Derivative of Durable Goods Orders that excludes the Transportation components. Orders for aircraft occur in periodic burst and can severely distort the underlying trend, so traders tend to focus more on this indicator than the overall Durable Goods Orders.
| 3:00pm | USD | Consumer Confidence |  | 102.9 | 106.4 | 105.4 | [read]
Investica Analysis Recent confidence data has been weaker than expected. Definition Measures the mood of consumers in regard to economic conditions. The reading is derived from a monthly survey that asks respondents to evaluate the prospects for the economy in the future. Higher readings point to higher consumer optimism. When consumers are optimistic they tend to purchase more goods and services, which stimulates the economy.
| 3:00pm | USD | Existing Home Sales m/m |  | 6.24M | 6.20M | 6.18M | [read]
Definition Measures the annualized number of existing homes sold in the previous month. Existing Home Sales make up a larger portion of the housing market than New Home Sales, and therefore are an important indicator of trends in the housing market. This indicator is published monthly by the National Association of Realtors.
| 3:00pm | USD | Richmond Fed Index |  | 7 |  | -2 | [read]
Definition Measures the mood of manufacturers in the Richmond Federal Reserve District. The Richmond Fed conducts a monthly survey that asks respondents to rate their business on an assortment of indicators, concerning both the present situation and future expectations. The survey results are converted into a general index of business and manufacturing conditions within the Richmond Federal Reserve district.
| 5:30pm | USD | Philly Fed President Plosser Speaks |  |  |  |  | [read]
Definition Philadelphia Federal Reserve President Charles Plosser will speak about the economy, in Rochester New York. Audience questions expected.
| 5:30pm | USD | Fed Chairman Bernanke Speaks |  |  |  |  | [read]
Investica Analysis A concentration on weakening growth would hurt the dollar. Definition Federal Reserve Chairman Ben Bernanke will speak to members of the National Italian American Foundation, in New York.
| 9:45pm | NZD | Building Consents |  | -1.9% |  | 4.4% | [read]
Definition Measures the number of new construction intentions. This data is a leading indicator for the construction industry since the issuance of a building permit is one of the first steps in the construction process.
| 11:50pm | JPY | Industrial Production m/m |  | 1.6% | -0.8% | -0.7% | [read]
Definition Measures the total value of output produced by factories, mines, and utilities. A rising trend has a positive effect on the nation's currency because high levels of production are a sign of a strong economy. Industrial Production reacts quickly to the ups and downs of the business cycle and can predict manufacturing employment, average earnings, and personal income.
Wed. 11/29 | 12:30am | AUD | Construction Work Done q/q |  | -2.1% | 2.0% | 3.6% | [read]
Definition Measures the quarterly change in building and engineering construction work done. The reading is derived from the quarterly Building Activity Survey.
| 12:30am | AUD | Trade Balance |  | -1.3B | -0.98B | -0.65B | [read]
Definition Measures the difference in value between imported and exported goods and services. A positive Trade Balance indicates that more goods and services were exported than imported. A rising trend has a positive effect on the nation's currency. As higher levels of exports are sold to the world, demand for the nation's currency is elevated as foreigners convert their native currency to purchase these exports. The Trade Balance also has a sizable impact on GDP because high demand for exports creates increased employment and production as domestic factories work to fill this foreign demand.
| 9:30am | GBP | Net Lending to Individuals m/m |  | 10.9B | 9.9B | 9.8B | [read]
Definition Measures the monthly growth in outstanding consumer installment credit, including mortgages. It gives insight into the state of consumer finances and can act as a leading indicator of consumer spending.
| 10:30am | CHF | Leading Index m/m |  | 1.7 | 2.1 | 2.0 | [read]
Definition Measures overall economic activity through a qualitative business survey about developments in the recent past, the current situation and expectations for the next three to six months. Survey questions relate to production, orders and stocks of finished goods. The Swiss Institute for Business Cycle Research (KOF) publishes this indicator monthly.
| 1:30pm | CAD | IPPI m/m |  | -0.1% | 0.5% | -1.6% | [read]
Definition The Industrial Product Price Index (IPPI) measures the rate of inflation for goods as they are leaving the plant gate. Unlike other inflation measures, the IPPI excludes indirect taxes and all costs that occur between the time a good leaves the plant and the time the final user takes possession of it, such as transportation, wholesale, and retail costs.
| 1:30pm | CAD | Current Account |  | 5.1B | 3.2B | 4.2B | [read]
Definition Measures the difference in value between imported and exported goods, services, income flows, and unilateral transfers. The Current Account is a comprehensive accounting of the nation's trade with other countries. A rising trend has a positive effect on the nation's currency. The Current Account includes the previously reported Trade Balance (which covers trade of goods and services), so the market's focus for this indicator is on the income flows and unilateral transfers.
| 1:30pm | USD | GDP Annualized q/q (f) |  | 2.2% | 1.8% | 1.6% | [read]
Investica Analysis Housing investment will be important Definition Gross Domestic Product (GDP) measures the total value of all goods and services produced by the economy. A rising trend has a positive effect on the nation's currency. GDP is the broadest measure of economic activity and considered to be the primary gauge of an economy's health. To foreign investors, a strong economy is viewed favorably because it spurs investment opportunities in the domestic stock and bond markets. A strong economy also persuades the central bank to raise interest rates in an attempt to control growth. All of this activity will increase demand for the nation's currency.
| 1:30pm | USD | GDP Deflator Annualized q/q (f) |  | 1.8% | 1.8% | 1.8% | [read]
Definition The Gross Domestic Product (GDP) Deflator measures the annualized quarterly implied rate of inflation for all economic activity. The deflator is used to calculate the difference between nominal and real GDP. The Federal Reserve takes special note of this indicator because it is the economy's broadest measure of inflation.
| 2:00pm | USD | NY Fed President Geithner Speaks |  |  |  |  | [read]
Definition New York Federal Reserve President Timothy Geithner will speak about the securities industry, in New York.
| 3:00pm | USD | New Home Sales m/m |  | 1.00M | 1.02M | 1.08M | [read]
Investica Analysis The prices trend will also be important Definition Measures the monthly change in the number of newly constructed homes sold in the previous month.
| 3:30pm | USD | Crude Oil Inventories |  | -0.3M |  | 5.1M | [read]
Definition The Energy Information Administration's (EIA) Crude Oil Inventories measures the weekly increase in barrels of commercial crude oil held in inventory by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation and other economic forces.
| 6:30pm | EUR | ECB President Trichet Speaks |  |  |  |  | [read]
Definition European Central Bank (ECB) President Jean-Claude Trichet will speak at the 18th Jean Monnet Memorial Lecture, in London.
| 7:00pm | USD | Beige Book |  |  |  |  | [read]
Definition Provides a look at how regional Federal Reserve branches view the economy in their area. It is produced two weeks before the monetary policy meetings of the Federal Open Market Committee (FOMC), who uses the book's anecdotal evidence to help determine the path for interest rates.
Thu. 11/30 | 12:30am | AUD | Retail Sales m/m |  | 0.8% | 0.4% | 0.1% | [read]
Definition Measures the total value of sales at the retail level. A rising trend has a positive effect on the nation's currency. Consumer spending makes up a large portion of GDP, and Retail Sales makes up one-third of consumer spending. This indicator is usually the first of the month that relates to consumer behavior, making it susceptible to big surprises.
| 5:00am | JPY | Housing Starts y/y |  | 2.2% | -0.4% | 4.0% | [read]
Definition Measures the annual change in the number of new single-family homes or buildings constructed.
| 5:00am | JPY | Small Business Confidence |  | 50.8 |  | 49.8 | [read]
Definition Small Business Confidence measures the mood of Japanese small businesses. Higher indicator readings point to higher optimism. When small businesses are optimistic, they tend to spend more, therefore strengthening the country's currency.
| 6:45am | CHF | CPI m/m |  | 0.0% | 0.2% | 0.3% | [read]
Definition The Consumer Price Index (CPI) measures the rate of inflation (i.e., the rate of price changes) experienced by consumers when purchasing goods and services. A rising trend has a positive effect on the nation's currency. The primary objective of the central bank is to achieve price stability; when inflation rises above an annualized rate of approximately 2%, they will respond by raising interest rates to bring prices down. Higher interest rates attract foreign investment, thus increasing demand for the nation's currency. CPI is one of the most closely watched indicators and will usually have a high impact upon release.
| 8:55am | EUR | German Unemployment Rate |  | 10.2% | 10.3% | 10.4% | [read]
Definition Measures the percentage of the total work force that is unemployed and actively seeking employment. A falling trend has a positive effect on the nation's currency. Working people tend to spend more, and consumer spending is a major driver of the economy. However, unemployment usually draws little attention because traders view it as a lagging indicator.
| 10:00am | EUR | CPI y/y (p) |  | 1.8% | 1.9% | 1.6% | [read]
Definition The Consumer Price Index (CPI) measures the rate of inflation (i.e., the rate of price changes) experienced by consumers when purchasing goods and services. A rising trend has a positive effect on the nation's currency. The primary objective of the central bank is to achieve price stability; when inflation rises above an annualized rate of approximately 2%, they will respond by raising interest rates to bring prices down. Higher interest rates attract foreign investment, thus increasing demand for the nation's currency. CPI is one of the most closely watched indicators and will usually have a high impact upon release.
| 10:00am | EUR | Consumer Confidence |  | -7 | -7 | -8 | [read]
Definition Measures the mood of consumers in regard to economic conditions. The reading is derived from a monthly survey that asks respondents to evaluate the prospects for the economy in the future. Higher readings point to higher consumer optimism. When consumers are optimistic they tend to purchase more goods and services, which stimulates the economy.
| 10:00am | EUR | GDP q/q (p) |  | 0.5% | 0.5% | 0.9% | [read]
Definition Gross Domestic Product (GDP) measures the total value of all goods and services produced by the economy. A rising trend has a positive effect on the nation's currency. GDP is the broadest measure of economic activity and considered to be the primary gauge of an economy's health. To foreign investors, a strong economy is viewed favorably because it spurs investment opportunities in the domestic stock and bond markets. A strong economy also persuades the central bank to raise interest rates in an attempt to control growth. All of this activity will increase demand for the nation's currency.
| 10:30am | GBP | Consumer Confidence |  | -7 | -5 | -5 | [read]
Definition Measures the mood of consumers in regard to economic conditions. The reading is derived from a monthly survey that asks respondents to evaluate the prospects for the economy in the future. GfK, a leading German market research company, publishes this indicator monthly. Higher readings point to higher consumer optimism. When consumers are optimistic they tend to purchase more goods and services, which stimulates the economy.
| 11:00am | GBP | CBI Distributive Trades Survey |  | -9 | 2 | -4 | [read]
Definition The Confederation of British Industry (CBI) Distributive Trades Survey measures short-term trends in the UK retail and wholesale distribution sectors. The survey reading is a respected barometer of trade as it tracks optimism, employment, prices, investment and stocks.
| 1:30pm | CAD | GDP m/m |  | -0.3% | -0.1% | 0.3% | [read]
Definition Gross Domestic Product (GDP) measures the total value of all goods and services produced by the economy. A rising trend has a positive effect on the nation's currency. GDP is the broadest measure of economic activity and considered to be the primary gauge of an economy's health. To foreign investors, a strong economy is viewed favorably because it spurs investment opportunities in the domestic stock and bond markets. A strong economy also persuades the central bank to raise interest rates in an attempt to control growth. All of this activity will increase demand for the nation's currency.
| 1:30pm | USD | Personal Income m/m |  | 0.4% | 0.5% | 0.5% | [read]
Definition Measures the monthly change in average personal income received from all sources.
| 1:30pm | USD | Personal Spending m/m |  | 0.2% | 0.1% | 0.1% | [read]
Definition Measures the total value of consumer purchases of goods and services over the past month. Consumer spending makes up two thirds of GDP and therefore a rising trend generally strengthens a country's currency.
| 1:30pm | USD | Core PCE Price Index m/m |  | 0.2% | 0.2% | 0.2% | [read]
Investica Analysis The Fed watches the PCE data closely Definition Derivative of the PCE Price Index that excludes the Food and Energy items. Food and Energy account for roughly 25% of PCE, but they can be very volatile from month to month and can distort the overal picture. PCE with the exclusion of these volatile components is thought to be a better indicator of the underlying inflation trend.
| 1:30pm | USD | Unemployment Claims |  | 357K | 315K | 321K | [read]
Definition Measures the number of individuals who filed for unemployment insurance for the first time over the past week. A falling trend has a positive effect on the nation's currency. Working people tend to spend more, and consumer spending is a major driver of the economy. However, unemployment usually draws little attention because traders view it as a lagging indicator.
| 3:00pm | USD | Chicago PMI |  | 49.9 | 55.0 | 53.5 | [read]
Investica Analysis The figure will be important as a weak reading last month undermined confidence in the economy. Definition The National Association of Purchasing Managers (NAPM) Chicago Purchasing Manager's Index (PMI) measures the health of the Chicago business environment. It's derived from a monthly survey of purchasing managers where respondents indicate whether their organization's activity is higher than, the same as, or lower than the previous month for output, purchases, employment, inventories, orders, and prices. An index reading above 50 indicates sector expansion.
| 10:30pm | AUD | Manufacturing PMI |  | 54.4 |  | 51.9 | [read]
Definition 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.
| 11:30pm | JPY | Unemployment Rate |  | 4.1% | 4.2% | 4.2% | [read]
Definition Measures the percentage of the total work force that is unemployed and actively seeking employment. A falling trend has a positive effect on the nation's currency. Working people tend to spend more, and consumer spending is a major driver of the economy. However, unemployment usually draws little attention because traders view it as a lagging indicator.
| 11:30pm | JPY | CPI m/m |  | -0.2% | -0.1% | -0.3% | [read]
Definition The Consumer Price Index (CPI) measures the rate of inflation (i.e., the rate of price changes) experienced by consumers when purchasing goods and services. A rising trend has a positive effect on the nation's currency. The primary objective of the central bank is to achieve price stability; when inflation rises above an annualized rate of approximately 2%, they will respond by raising interest rates to bring prices down. Higher interest rates attract foreign investment, thus increasing demand for the nation's currency. CPI is one of the most closely watched indicators and will usually have a high impact upon release.
| 11:30pm | JPY | Tokyo CPI m/m |  | -0.5% | -0.1% | 0.0% | [read]
Definition The Tokyo Consumer Price Index (CPI) measures the rate of inflation experienced by consumers living in Tokyo, the nation's most populated city. Tokyo CPI tends to have a greater market impact than national CPI because it gives traders the most recent reading on consumer inflation. Tokyo is a relatively small population to survey, allowing CPI to be compiled faster and released about one month before national results.
| 11:30pm | JPY | Core Tokyo CPI m/m |  | -0.1% | -0.1% | 0.0% | [read]
Definition Derivative of the Tokyo Consumer Price Index (CPI) that excludes the Fresh Food items. Fresh Food purchases can be volatile from month to month and can distort the overall picture, so CPI with the exclusion of this volatile component is thought to be a better indicator of the underlying inflation trend.
Fri. 12/01 | 6:45am | CHF | GDP q/q |  | 0.4% | 0.6% | 0.7% | [read]
Definition Gross Domestic Product (GDP) measures the total value of all goods and services produced by the economy. A rising trend has a positive effect on the nation's currency. GDP is the broadest measure of economic activity and considered to be the primary gauge of an economy's health. To foreign investors, a strong economy is viewed favorably because it spurs investment opportunities in the domestic stock and bond markets. A strong economy also persuades the central bank to raise interest rates in an attempt to control growth. All of this activity will increase demand for the nation's currency.
| 8:30am | CHF | SVME PMI |  | 67.0 | 63.4 | 62.3 | [read]
Definition The Schweizerischer Verband für Materialwirtschaft und Einkauf (SVME) Purchasing Manager's Index (PMI) measures the activity level of purchasing managers, 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.
| 8:55am | EUR | German Manufacturing PMI |  | 58.3 | 58.2 | 58.2 | [read]
Definition 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.
| 9:00am | EUR | Manufacturing PMI |  | 56.6 | 57.2 | 57.0 | [read]
Definition 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.
| 9:30am | GBP | Manufacturing PMI |  | 52.6 | 53.8 | 53.7 | [read]
Definition 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.
| 10:00am | EUR | Unemployment Rate |  | 7.7% | 7.7% | 7.8% | [read]
Definition Measures the percentage of the total work force that is unemployed and actively seeking employment. A falling trend has a positive effect on the nation's currency. Working people tend to spend more, and consumer spending is a major driver of the economy. However, unemployment usually draws little attention because traders view it as a lagging indicator.
| 12:00pm | CAD | Unemployment Rate |  | 6.3% | 6.3% | 6.2% | [read]
Definition Measures the percentage of the total work force that is unemployed and actively seeking employment. A falling trend has a positive effect on the nation's currency. Working people tend to spend more, and consumer spending is a major driver of the economy. However, unemployment usually draws little attention because traders view it as a lagging indicator.
| 12:00pm | CAD | Employment Change |  | 22K | 15K | 51K | [read]
Investica Analysis Recent monthly employment data has been erratic. Definition Measures the number of new jobs created in the previous month. A rising trend has a positive effect on the nation's currency. The number of new jobs being created is one of the most important indicators of the economy's health because consumer spending, which is highly correlated with labor conditions, makes up a large portion of GDP. This report is the first of the month that relates to labor conditions, making it susceptible to big surprises.
| 2:00pm | USD | Fed Chairman Bernanke Speaks |  |  |  |  | [read]
Investica Analysis Markets will look to see if there is any different emphasis from Bernanke from comments earlier this week. Definition Federal Reserve Chairman Ben Bernanke will speak at the Research Forum on Monetary Policy, in Washington DC.
| 2:30pm | USD | Philly Fed President Plosser Speaks |  |  |  |  | [read]
Definition Philadelphia Federal Reserve President Charles Plosser will speak at a conference on economic growth and development, in Philadelphia Pennsylvania.
| 3:00pm | USD | Construction Spending m/m |  | -1.0% | 0.0% | -0.3% | [read]
Definition Measures the monthly change in value of new construction projects.
| 3:00pm | USD | ISM Manufacturing Index |  | 49.5 | 52.0 | 51.2 | [read]
Investica Analysis The weak Chicago report has increased the importance of the data Definition The Institute of Supply Management (ISM) Manufacturing Index 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.
| 3:00pm | USD | ISM Manufacturing Prices |  | 53.5 | 50.0 | 47.0 | [read]
Definition The Institute of Supply Management (ISM) Manufacturing Price Index measures the monthly inflation experienced by manufacturing organizations when purchasing materials and services. The ISM surveys 400 firms to produce this index.
| 6:45pm | USD | Richmond Fed President Lacker Speaks |  |  |  |  | [read]
Definition Richmond Federal Reserve President Jeffrey Lacker will speak at the Philadelphia Fed conference, in Philadelphia Pennsylvania.
Sat. 12/02 | 12:30am | USD | Fed Governor Kohn Speaks |  |  |  |  | [read]
Definition Federal Reserve Governor Donald Kohn will speak at the International Research Forum on Monetary Policy, in Washington DC.
Sun. 12/03 | 11:30pm | AUD | TDMI Inflation Gauge m/m |  | 0.2% |  | 0.0% | [read]
Definition The TD Securities Melbourne Institute (TDMI) Inflation Gauge measures the rate of inflation experienced by consumers when purchasing goods and services. The Melbourne Institute, in conjunction with TD Securities, releases this indicator monthly. This is a much more timely indicator then the official quarterly CPI.
| 11:50pm | JPY | Monetary Base y/y |  | -22% | -22% | -21% | [read]
Definition Measures the annual change in Japan's outstanding currency in circulation, including banknotes, coins, and current account balances. It uncovers the level of additional currency being supplied by the Bank of Japan. An increasing monetary base generally results in higher inflation.
Mon. 12/04 | 12:30am | AUD | Building Approvals m/m |  | -7.4% | -1.0% | 6.1% | [read]
Definition Measures the number of new construction intentions. This data is a leading indicator for the construction industry since the issuance of a building permit is one of the first steps in the construction process.
| 9:30am | GBP | Construction PMI |  | 54.8 | 57.2 | 58.1 | [read]
Definition The Chartered Institute of Purchasing and Supply (CIPS) Construction Purchasing Manager's Index (PMI) measures the activity level of purchasing managers in the construction 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.
| 10:00am | EUR | PPI m/m |  | 0.0% | 0.2% | -0.5% | [read]
Definition The Producer Price Index (PPI) measures the rate of inflation (i.e., the rate of price changes) experienced by manufacturers when purchasing goods and services. A rising trend has a positive effect on the nation's currency. When manufactures pay more for goods and services, they are likely to pass the higher costs to the consumer, so PPI is thought to be a leading indicator of consumer inflation. PPI is highly regarded, and at extremes will have a market impact equal to that of its CPI counterpart.
| 2:00pm | USD | Chicago Fed President Moskow Speaks |  |  |  |  | [read]
Definition Chicago Federal Reserve President Michael Moskow will give an interview on a CNBC webcast.
| 4:30pm | EUR | ECB President Trichet Speaks |  |  |  |  | [read]
Definition European Central Bank (ECB) President Jean-Claude Trichet will speak at the 3rd High-level Seminar of the Eurosystem and Latin American Central Banks, in Madrid.
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