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May 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.
Mon. 05/01 | 7:00am | E-12 | Holiday: Labor Day |  |  |  |  | [read]
Definition French, German, and Italian financial markets will be closed in observance of Labor Day. Forex markets will remain open.
| 12:30pm | CAN | Industrial Product Price Index m/m |  | 0.8% | 0.4% | -0.4% | [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.
| 12:30pm | CAN | Raw Materials Price Index m/m |  | 0.8% | 2.1% | -3.2% | [read]
Definition The Raw Materials Price Index (RMPI) measures price changes for raw materials purchased by industries in Canada for further processing.
| 12:30pm | USA | Personal Income |  | 0.8% | 0.4% | 0.3% | [read]
Definition Measures the monthly change in average personal income received from all sources.
| 12:30pm | USA | Personal Spending |  | 0.6% | 0.4% | 0.1% | [read]
Investica Analysis Principal interest will surround the inflation data. Definition Measures the total value of consumer purchases of goods and services over the past month. Consumer spending makes up a third of GDP and therefore a rising trend generally strengthens a country's currency.
| 2:00pm | USA | Construction Spending m/m |  | 0.9% | 0.4% | 0.8% | [read]
Definition Measures the monthly change in value of new construction projects.
| 2:00pm | USA | ISM Manufacturing Index |  | 57.3 | 55.0 | 55.2 | [read]
Investica Analysis The employment component will be watched closely. Definition The Institute of Supply Management (ISM) Manufacturing Index measures growth in the manufacturing sector. To produce the index, the ISM surveys 400 manufacturing firms on employment, production, new orders, supplier deliveries, and inventories. A reading above 50 indicates an expanding manufacturing sector.
| 5:00pm | USA | Atlanta Fed President Guynn Speaks |  |  |  |  | [read]
Definition Atlanta Federal Reserve President Jack Guynn will speak to the Rotary Club in Tennessee about the US economic outlook. Media questions expected.
| 11:50pm | JPN | Monetary Base y/y |  | -7.2% | 0.0% | -1.0% | [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.
Tue. 05/02 | 12:00am | USA | Minneapolis Fed President Stern Speaks |  |  |  |  | [read]
Definition Minneapolis Federal Reserve President Gary Stern will speak in Minneapolis to the Society of American Business Writers and Editors.
| 7:55am | GER | Manufacturing PMI |  | 58.1 | 58.8 | 58.1 | [read]
Definition The Manufacturing Purchasing Manager's Index (PMI) measures the health of the manufacturing sector. 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.
| 8:00am | E-12 | Manufacturing PMI |  | 56.7 | 56.9 | 56.1 | [read]
Investica Analysis Euro gains will not show up in this month's data Definition The Manufacturing Purchasing Manager's Index (PMI) measures the health of the manufacturing sector. 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.
| 8:30am | UK | Manufacturing PMI |  | 54.0 | 51.5 | 50.8 | [read]
Definition The Manufacturing Purchasing Manager's Index (PMI) measures the health of the manufacturing sector. 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.
| 10:00am | UK | CBI Distributive Trades Survey |  | 2 | -5 | -7 | [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.
| 11:00pm | JPN | Holiday: May Day |  |  |  |  | [read]
Definition Japanese financial markets will be closed in observance of May Day. Forex markets will remain open.
| 11:30pm | AUS | RBA Interest Rate Statement |  | 5.75% | 5.50% | 5.50% | [read]
Investica Analysis Rates should be left on hold Definition The Reserve Bank of Australia (RBA) Interest Rate Statement is released shortly after a meeting in which the RBA makes a decision on where to set short-term interest rates (interest rate on overnight loans in the money market). The RBA focuses heavily on inflation, as their stated mission is to achieve price stability. They generally raises rates to fight rising inflation, and lower rates in the face of deflation or economic slowdown.
Wed. 05/03 | 8:30am | UK | CIPS Construction PMI |  | 53.7 | 54.2 | 54.7 | [read]
Definition The Chartered Institute of Purchasing and Supply (CIPS) Construction Purchasing Manager's Index (PMI) measures the health of the construction sector. 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.
| 9:00am | E-12 | Unemployment Rate |  | 8.1% | 8.2% | 8.2% | [read]
Definition Measures the percentage of the total work force that is unemployed and actively seeking employment. Rising unemployment is a sign of a slowing economy.
| 9:00am | E-12 | Producer Price Index m/m |  | 0.4% | 0.5% | 0.5% | [read]
Definition The Producer Price Index (PPI) measures the rate of inflation experienced by manufacturers. The reading represents the monthly change in the average price of a fixed basket of goods and services purchased by manufacturers. Higher inflation generally leads to higher interest rates, which tend to strengthen the country's currency.
| 2:00pm | USA | Factory Orders m/m |  | 4.2 | 4.0% | 0.2% | [read]
Definition Measures the monthly change in the value of manufacturer's new orders for goods. A rising trend indicates a growing economy. This report gives more in-depth information than the durable goods report released about two weeks earlier.
| 2:00pm | USA | ISM Non-Manufacturing Index |  | 63.0 | 59.7 | 60.5 | [read]
Definition The Institute of Supply Management (ISM) Non-Manufacturing Index measures growth in various industries, including agriculture, mining, construction, transportation, communications, wholesale and retail trade. To produce the index, the ISM surveys 400 firms on employment, production, new orders, supplier deliveries, and inventories. A reading above 50 indicates an expanding services sector.
| 2:30pm | USA | EIA Crude Oil Inventories |  | 1.7M |  | -0.2M | [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.
| 4:00pm | USA | Bernanke Speaks |  |  |  |  | [read]
Investica Analysis Bernanke could feel pressured to comment on interest rates. Definition Federal Reserve Chairman Ben Bernanke will speak in Washington about revitalizing communities at a local economic summit. No audience questions expected.
| 11:00pm | JPN | Holiday: Between Day |  |  |  |  | [read]
Definition Japanese financial markets will be closed in observance of Between Day. Forex markets will remain open.
Thu. 05/04 | 7:55am | GER | Services PMI |  | 57.3 | 57.1 | 56.6 | [read]
Definition The Services Purchasing Manager's Index (PMI) measures the health of the services sector. 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.
| 8:00am | E-12 | Services PMI |  | 58.3 | 58.7 | 58.2 | [read]
Definition The Services Purchasing Manager's Index (PMI) measures the health of the services sector. 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.
| 8:30am | UK | Services PMI |  | 59.7 | 57.6 | 57.4 | [read]
Investica Analysis Markets will want confirmation of the manufacturing data. Definition The Services Purchasing Manager's Index (PMI) measures the health of the services sector. 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.
| 9:00am | E-12 | Retail Sales m/m |  | -0.8% | -0.5% | -0.2% | [read]
Definition Measures the monthly change in total value of sales at the retail level. A rising trend indicates higher consumer spending, which is an important driver of the economy.
| 11:00am | UK | BOE Interest Rate Statement |  | 4.5% | 4.5% | 4.5% | [read]
Investica Analysis Rates should be left unchanged. Definition The Bank of England (BOE) Monetary Policy Committee Interest Rate Decision is released shortly after a meeting in which the BOE, headed by Mervyn King, makes a decision on where to set the short-term interest rate (base rate). The BOC focuses heavily on inflation, as their stated mission is to achieve price stability. They generally raises rates to fight rising inflation, and lower rates in the face of deflation or economic slowdown.
| 11:45am | E-12 | ECB Interest Rate Statement |  | 2.5% | 2.5% | 2.5% | [read]
Investica Analysis The press conference following the decision should be the most important element. Definition The European Central Bank (ECB) Governing Council Interest Rate Statement is released shortly after a meeting in which the ECB, headed by Jean-Claude Trichet, makes a decision on where to set short-term interest rates (refinancing rate). The ECB focuses heavily on inflation, as their stated mission is to achieve price stability. They generally raises rates to fight rising inflation, and lower rates in the face of deflation or economic slowdown.
| 12:00pm | USA | Fed Governor Bies Speaks |  |  |  |  | [read]
Definition Federal Reserve Governor Susan Schmidt Bies will speak in Florida about the Market Risk Amendment.
| 12:30pm | USA | Nonfarm Productivity q/q |  | 3.2% | 2.8% | -0.5% | [read]
Definition Measures the 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.
| 12:30pm | USA | Unit Labor Costs q/q |  | 2.5% | 1.3% | 3.3% | [read]
Merlin Says Bernanke has been talking a lot about labor inflation so this data could have a larger effect than usual. Definition Measures the quarterly growth in the labor cost of producing output. A rising trend indicates future inflationary pressures as the labor cost of producing goods rises.
| 12:30pm | USA | Unemployment Claims |  | 322K | 310K | 315K | [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.
| 12:30pm | CAN | Building Permits m/m |  | 5.3% | 2.3% | 3.6% | [read]
Definition Measures the monthly change in total value of 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.
| 2:00pm | CAN | Ivey PMI |  | 55.7 | 61.5 | 67.2 | [read]
Definition The Ivey Purchasing Manager's Index (PMI) measures the value of purchases made by Canadian companies. It's derived from a monthly survey of purchasing managers where respondents indicate whether their organization's purchases were higher than, the same as, or lower than the previous month. The 175 survey participants are carefully selected geographically and by sector of activity to match the Canadian economy as a whole. An index reading above 50 indicates 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.
| 11:00pm | JPN | Holiday: Children's Day |  |  |  |  | [read]
Definition Japanese financial markets will be closed in observance of Children's Day. Forex markets will remain open.
Fri. 05/05 | 1:30am | AUS | 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.
| 1:30am | AUS | Trade Balance |  | -1.55 | -1.35B | -0.60B | [read]
Definition Measures the difference in value between total imports and total exports of goods. A positive reading means that more goods were exported than imported over the previous month. The Trade Balance has a sizable impact on GDP and at extremes can directly influence the country's currency value.
| 8:30am | E-12 | ECB President Trichet Speaks |  |  |  |  | [read]
Definition European Central Bank President Jean-Claude Trichet will speak at the Frankfurt Chamber of Industry and Commerce in Frankfurt.
| 11:00am | E-12 | ECB President Trichet Speaks |  |  |  |  | [read]
Definition European Central Bank President Jean-Claude Trichet will speak at the conference “Financial statistics for a global economy” - Third European Central Bank conference on statistics in Frankfurt.
| 11:00am | CAN | Unemployment Rate |  | 6.4% | 6.3% | 6.3% | [read]
Definition Measures the percentage of the total work force that is unemployed and actively seeking employment. Rising unemployment is a sign of a slowing economy.
| 11:00am | CAN | Employment Change |  | 22K | 15.2K | 50.5K | [read]
Investica Analysis A strong figure would reinfrce expectations of further interest rate increases. Definition Measures the number of new jobs created in the previous month. Employment growth will generally strengthen a country's currency, as it is one of the most important indicators of economy health.
| 12:30pm | USA | Unemployment Rate |  | 4.7% | 4.7% | 4.7% | [read]
Definition Measures the percentage of the total work force that is unemployed and actively seeking employment. Rising unemployment is a sign of a slowing economy.
| 12:30pm | USA | Nonfarm Employment Change |  | 138K | 200K | 211K | [read]
Investica Analysis Recent evidence suggests the underlying figure should be firm. Definition Measures the number of new jobs created in the previous month, excluding the farming industry. Employment growth will generally strengthen a country's currency, as it is one of the most important indicators of economy health.
| 12:30pm | USA | Average Hourly Earnings m/m |  | 0.5% | 0.3% | 0.2% | [read]
Investica Analysis The Fed willl be looking at earnings data closely. Definition Measures the monthly change in the hourly rate paid to the jobholders indicated in nonfarm payrolls.
Mon. 05/08 | 1:30am | AUS | Retail Sales m/m |  | 0.3% | 0.7% | 0.7% | [read]
Definition Measures the monthly change in total value of sales at the retail level. A rising trend indicates higher consumer spending, which is an important driver of the economy.
| 8:00am | GER | Retail PMI |  | 59.3 | 56.5 | 48.9 | [read]
Definition The Retail Purchasing Manager's Index (PMI) measures the health of the retail sector. 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.
| 8:00am | E-12 | Retail PMI |  | 54.6 | 47.5 | 47.2 | [read]
Definition The Retail Purchasing Manager's Index (PMI) measures the health of the retail sector. 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.
| 8:30am | UK | Producer Price Index Input m/m |  | 2.5% | 1.4% | 0.3% | [read]
Definition The Producer Price Index (PPI) Input measures the rate of inflation experienced by manufacturers when buying goods and services. The reading represents the monthly change in the average price of a fixed basket of goods and services purchased by manufacturers.
| 8:30am | UK | Producer Price Index Output m/m |  | 0.6% | 0.4% | 0.3% | [read]
Definition The Producer Price Index (PPI) Output measures the rate of inflation experienced by manufacturers when selling goods and services. The reading represents the monthly change in the average price of a fixed basket of goods and services sold by manufacturers.
| 10:00am | GER | Factory Orders m/m |  | 15.0% | 12.4% | 1.4% | [read]
Merlin Says Because of the union strikes in Germany, this number was not reported last month. That could cause some market movement on this report. Definition Measures the monthly change in the value of manufacturer's new orders for goods. A rising trend indicates a growing economy.
| 12:15pm | CAN | Housing Starts |  | 218K | 231K | 252K | [read]
Definition Measures the number of new single-family homes or buildings constructed throughout the previous month.
Tue. 05/09 | 9:30am | AUS | Treasury Budget |  |  |  |  | [read]
Definition Details the Federal Government's budgetary plan for the following fiscal year. The report gives a quantitative and qualitative view of the expected underlying cash surplus, tax strategies, prospects for the economy, and employment predictions.
| 10:00am | GER | Industrial Production m/m |  | -2.4% | 0.4% | 1.0% | [read]
Definition Measures the monthly change in total output of factories, mines, and utilities. A rising trend generally indicates a strengthening economy.
| 2:00pm | USA | Wholesale Inventories |  | 0.2% | 0.4% | 0.8% | [read]
Definition Measures the monthly change in value of inventories held by wholesalers.
Wed. 05/10 | 5:00am | JPN | Leading Economic Index |  | 60.0% | 60.0% | 90.9% | [read]
Definition Measures overall economic activity by combining ten indicators including factory workweek, new orders for consumer goods, new orders for nondefense capital goods, stock prices, initial jobless claims, vendor performance, building permits, money supply and consumer expectations.
| 5:00am | JPN | Coincident Index |  | 11.1% | 11.0% | 50.0% | [read]
Definition Measures real-time relative economic activity. A rising Coincident Index signals an expansion phase while a falling reading is a sign of a contraction phase.
| 6:00am | GER | Trade Balance |  | 14.3B | 13.1B | 13.1B | [read]
Definition Measures the difference in value between total imports and total exports of goods. A positive reading means that more goods were exported than imported over the previous month. The Trade Balance has a sizable impact on GDP and at extremes can directly influence the country's currency value.
| 8:30am | UK | Trade Balance |  | -5.5B | -6.2B | -6.5B | [read]
Investica Analysis The data is erratic on a monthly view. Definition Measures the difference in value between total imports and total exports of goods. A positive reading means that more goods were exported than imported over the previous month. The Trade Balance has a sizable impact on GDP and at extremes can directly influence the country's currency value.
| 9:30am | UK | BOE Quarterly Inflation Report |  |  |  |  | [read]
Investica Analysis The report 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.
| 12:30pm | CAN | New House Price Index m/m |  | 1.0% | 0.5% | 0.7% | [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.
| 2:00pm | USA | EIA Crude Oil Inventories |  | 0.3M |  | 1.7M | [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.
| 6:15pm | USA | FOMC Interest Rate Statement |  | 5.00% | 5.00% | 4.75% | [read]
Investica Analysis Principal attention should focus on the statement. Merlin Says To get the real-time statement, go to http://www.federalreserve.gov/fomc/#calendars and click on the "statement" link (keep clicking F5, statement will show up around 2:15pm). Definition The Federal Open Market Committee (FOMC) Interest Rate Statement is released shortly after a meeting in which the FOMC, headed by Ben Bernanke, makes a decision on where to set the federal funds target rate. The statement is released eight times per year and contains the latest rate decision, along with commentary on the state of the economy and how the FOMC intends to shift monetary policy in the future. The FOMC focuses heavily on inflation, as their stated mission is to achieve price stability. They generally raises rates to fight rising inflation, and lower rates in the face of deflation or economic slowdown.
| 11:50pm | JPN | M2+CD Money Supply y/y |  | 1.7% | 0.9% | 1.5% | [read]
Definition Measures the annual change in Japan's outstanding currency. Higher levels of currency can have a devaluing effect on the Yen. M2+CD is calculated as follows: M1 = currency in circulation + overnight deposits M2+CD = M1 + Quasi-Money (Time Deposits etc.) + CDs
Thu. 05/11 | 1:30am | AUS | Unemployment Rate |  | 5.1% | 5.1% | 5.1% | [read]
Definition Measures the percentage of the total work force that is unemployed and actively seeking employment. Rising unemployment is a sign of a slowing economy.
| 1:30am | AUS | Employment Change |  | -3.2K | 6.1K | 27.0K | [read]
Investica Analysis A big employment increase would keep the Reserve Bank on inflation alert Definition Measures the number of new jobs created in the previous month. Employment growth will generally strengthen a country's currency, as it is one of the most important indicators of economy health.
| 6:00am | GER | Gross Domestic Product q/q |  | 0.4% | 0.6% | 0.0% | [read]
Definition Gross Domestic Product (GDP) measures the value of all goods and services produced by the economy. The reading represents the quarterly change in value. GDP is the broadest measure of economic activity and the primary gauge of an economy's health. It therefore can have a significant impact on the value of a country's currency.
| 8:15am | E-12 | ECB President Trichet Speaks |  |  |  |  | [read]
Definition European Central Bank President Jean-Claude Trichet will speak at the Conference on “Experience with and Preparations for the Euro” co-organised by the Oesterreichische Nationalbank, the Austrian Federal Economic Chamber, the Austrian Federal Ministry of Finance and the European Commission in Linz, Austria.
| 8:30am | UK | Industrial Production m/m |  | 0.7% | 0.2% | -0.3% | [read]
Investica Analysis Energy output is likely to be volatile Definition Measures the monthly change in total output of factories, mines, and utilities. A rising trend generally indicates a strengthening economy.
| 8:30am | UK | Manufacturing Production m/m |  | 0.7% | 0.2% | -0.2% | [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.
| 9:00am | E-12 | Gross Domestic Product q/q |  | 0.6% | 0.6% | 0.3% | [read]
Investica Analysis The figures should not have a major short-term impact on the ECB. Definition Gross Domestic Product (GDP) measures the value of all goods and services produced by the economy. The reading represents the quarterly change in value. GDP is the broadest measure of economic activity and the primary gauge of an economy's health. It therefore can have a significant impact on the value of a country's currency.
| 12:30pm | USA | Retail Sales m/m |  | 0.5% | 0.7% | 0.6% | [read]
Definition Measures the monthly change in total value of sales at the retail level. A rising trend indicates higher consumer spending, which is an important driver of the economy.
| 12:30pm | USA | Retail Sales excl. Autos m/m |  | 0.7% | 0.8% | 0.4% | [read]
Definition Derivative of Retail Sales that excludes the volatile Automobile Sales component.
| 12:30pm | USA | Business Inventories |  | 0.7% | 0.5% | 0.0% | [read]
Definition Measures the monthly change in the value of inventories held by manufacturers, wholesalers, and retailers. When compared to sales, the level of inventories can be a leading indicator of near term production activity.
| 12:30pm | USA | Unemployment Claims |  | 324K | 315K | 322K | [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.
| 3:15pm | USA | Chicago Fed President Moskow Speaks |  |  |  |  | [read]
Definition Chicago Federal Reserve Bank President Michael Moskow will make welcoming remarks at the Payments Conference, in Chicago.
| 3:30pm | USA | Fed Governor Kohn Speaks |  |  |  |  | [read]
Definition Federal Reserve Governor Donald Kohn will speak at the Payments Conference, in Chicago.
Fri. 05/12 | 6:00am | GER | Consumer Price Index m/m (f) |  | 0.4% | 0.4% | 0.0% | [read]
Definition The Consumer Price Index (CPI) measures the rate of inflation experienced by consumers. The reading represents the monthly change in the average price of a fixed basket of goods and services purchased by consumers. Higher inflation generally leads to higher interest rates, which tend to strengthen the country's currency.
| 12:30pm | USA | Trade Balance |  | -62.0 | -67.0B | -65.7B | [read]
Investica Analysis A figure above US$70bn would represent a major test for the dollar. Definition Measures the difference in value between total imports and total exports of goods. A positive reading means that more goods were exported than imported over the previous month. The Trade Balance has a sizable impact on GDP and at extremes can directly influence the country's currency value.
| 12:30pm | USA | Import Prices m/m |  | 2.1% | 1.2% | -0.4% | [read]
Definition Measures the monthly rate of inflation for imported goods.
| 12:30pm | CAN | Trade Balance |  | 5.1B | 6.3B | 6.3B | [read]
Definition Measures the difference in value between total imports and total exports of goods. A positive reading means that more goods were exported than imported over the previous month. The Trade Balance has a sizable impact on GDP and at extremes can directly influence the country's currency value.
| 1:45pm | USA | Consumer Sentiment (p) |  | 79.0 | 87.0 | 87.4 | [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.
Sun. 05/14 | 11:50pm | JPN | Domestic Capital Goods Price Index m/m |  | 0.5% | 0.3% | 0.0% | [read]
Definition Domestic Capital Goods Price Index (DCGPI) measures the rate of inflation experienced by manufacturers. The reading represents the monthly change in the average price of a fixed basket of goods and services purchased by manufacturers. Higher inflation generally leads to higher interest rates, which tend to strengthen the country's currency.
| 11:50pm | JPN | Current Account |  | 2.4T | 2.0T | 2.2T | [read]
Definition Measures the difference in value between total imports and total exports of goods, services, income, and current transfers. It's essentially a statement of the country's trade with other nations over a period of time.
| 11:50pm | JPN | Trade Balance |  | 1.1T | 1.0T | 1.1T | [read]
Definition Measures the difference in value between total imports and total exports of goods. A positive reading means that more goods were exported than imported over the previous month. The Trade Balance has a sizable impact on GDP and at extremes can directly influence the country's currency value.
Mon. 05/15 | 5:00am | JPN | Machine Orders m/m |  | -5.2% | 0.3% | 3.4% | [read]
Definition Measures the monthly change in value of new orders placed with machine manufacturers.
| 12:30pm | CAN | Manufacturing Shipments |  | 1.6% | 0.9% | -2.2% | [read]
Definition Measures the value of all filled manufacturing orders over the previous month. The reading is derived from the Monthly Survey of Manufacturing (MSM).
| 12:30pm | USA | Empire Manufacturing Index |  | 12.4 | 17.0 | 15.8 | [read]
Definition Measures the mood 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.
| 1:00pm | USA | TIC Report |  | 69.8B | 80.2B | 86.9B | [read]
Investica Analysis There is the risk of big monthly swings in the data. 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.
| 2:30pm | UK | Leading Indicators Index |  | 0.6% | 0.6% | 0.8% | [read]
Definition Measures overall economic activity by combining ten indicators that lead cyclical activity in the economy and together represent all major categories of Gross Domestic Product (GDP).
Tue. 05/16 | 5:00am | JPN | Consumer Confidence |  | 50.0 | 49.2 | 47.9 | [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 and strengthens the country's currency.
| 8:30am | UK | Consumer Price Index m/m |  | 0.6% | 0.6% | 0.2% | [read]
Investica Analysis An annual figure above 2.1% would reinforce speculation over higher interest rates. Definition The Consumer Price Index (CPI) measures the rate of inflation experienced by consumers. The reading represents the monthly change in the average price of a fixed basket of goods and services purchased by consumers. Higher inflation generally leads to higher interest rates, which tend to strengthen the country's currency.
| 8:30am | UK | Retail Price Index m/m |  | 0.8% | 0.7% | 0.4% | [read]
Definition The Retail Price Index (RPI) measures the rate of inflation experienced by retailers. The reading represents the monthly change in the average price of a fixed basket of goods and services purchased by retailers. Higher inflation generally leads to higher interest rates, which tend to strengthen the country's currency.
| 9:00am | GER | ZEW Economic Sentiment |  | 50.0 | 60.5 | 62.7 | [read]
Investica Analysis There is some risk of a steeper corrective decline in the index. 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.
| 9:00am | E-12 | ZEW Economic Sentiment |  | 47.7 | 54.9 | 58.7 | [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.
| 12:30pm | USA | Producer Price Index m/m |  | 0.9% | 0.8% | 0.5% | [read]
Definition The Producer Price Index (PPI) measures the rate of inflation experienced by manufacturers. The reading represents the monthly change in the average price of a fixed basket of goods and services purchased by manufacturers. Higher inflation generally leads to higher interest rates, which tend to strengthen the country's currency.
| 12:30pm | USA | PPI excl. Food and Energy m/m |  | 0.1% | 0.2% | 0.1% | [read]
Investica Analysis The underling data will be important for the Fed Merlin Says Bernanke has made it clear that the next rate hike is all about the data. PPI is an important part of "the data", and I expect this report to rattle the markets pretty hard since it is the first to come out after the last meeting. Definition Derivative of the Producer Price Index (PPI) that excludes the volatile Food and Energy items.
| 12:30pm | USA | Housing Starts |  | 1.85M | 1.95M | 1.96M | [read]
Investica Analysis Housing will be significant for interest rate expectations. Definition Measures the number of new single-family homes or buildings constructed throughout the previous month.
| 12:45pm | USA | New York Fed President Geithner Speaks |  |  |  |  | [read]
Definition New York Federal Reserve Bank President Timothy Geithner will speak about credit derivatives and the US economy at a New York University conference.
| 1:15pm | USA | Industrial Production m/m |  | 0.8% | 0.5% | 0.6% | [read]
Definition Measures the monthly change in total output of factories, mines, and utilities. A rising trend generally indicates a strengthening economy.
| 1:15pm | USA | Capacity Utilization Rate |  | 81.9% | 81.6% | 81.3% | [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.
| 11:15pm | USA | Bernanke Speaks |  |  |  |  | [read]
Definition Federal Reserve Chairman Ben Bernanke will speak at Hedge Fund Conference in Sea Island, Georgia. No audience quesitons.
Wed. 05/17 | 1:30am | AUS | Wage Price Index q/q |  | 0.9% | 1.1% | 0.9% | [read]
Definition The Wage Price Index (WPI) measures the monthly rate of inflation found in the hourly rate paid to workers.
| 8:30am | UK | BOE Meeting Minutes |  |  |  |  | [read]
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.
| 8:30am | UK | Claimant Count Change |  | 7.7K | 7.3K | 12.6K | [read]
Definition Measures the change in number of people claiming unemployment related benefits over the previous month. A rising trend indicates a deteriorating labor market, which can weight on the economy.
| 8:30am | UK | Average Earnings Index +Bonus q/y |  | 4.2% | 4.5% | 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.
| 8:30am | UK | ILO Unemployment Rate |  | 5.2% | 5.1% | 5.1% | [read]
Definition Measures the percentage of the total work force that is unemployed and actively seeking employment. Rising unemployment is a sign of a slowing economy.
| 9:00am | E-12 | Consumer Price Index m/m |  | 0.7% | 0.6% | 0.6% | [read]
Definition The Consumer Price Index (CPI) measures the rate of inflation experienced by consumers. The reading represents the monthly change in the average price of a fixed basket of goods and services purchased by consumers. Higher inflation generally leads to higher interest rates, which tend to strengthen the country's currency.
| 9:00am | E-12 | Industrial Production m/m |  | 0.4% | -0.2% | 0.0% | [read]
Definition Measures the monthly change in total output of factories, mines, and utilities. A rising trend generally indicates a strengthening economy.
| 12:30pm | CAN | International Securities Transactions |  | 3.3B | 1.1B | 2.1B | [read]
Definition Measures the monthly value of domestic securities, debt and assets purchased by foreigners. Strong demand tends to strengthen the Canadian dollar as foreigners convert their money in order to purchase Canadian securities.
| 12:30pm | USA | Consumer Price Index m/m |  | 0.6% | 0.5% | 0.4% | [read]
Definition The Consumer Price Index (CPI) measures the rate of inflation experienced by consumers. The reading represents the monthly change in the average price of a fixed basket of goods and services purchased by consumers. Higher inflation generally leads to higher interest rates, which tend to strengthen the country's currency.
| 12:30pm | USA | CPI excl. Food and Energy m/m |  | 0.3% | 0.2% | 0.3% | [read]
Investica Analysis The core rate will be crucial for interest rate expectations Definition This indicator is a derivative of the Consumer Price Index (CPI) that excludes the volatile Food and Energy items.
| 2:30pm | USA | EIA Crude Oil Inventories |  | -0.1M |  | 0.3M | [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.
Thu. 05/18 | 1:30am | AUS | RBA Bulletin |  |  |  |  | [read]
Definition The Reserve Bank of Australia (RBA) Bulletin is a monthly publication that contains economic commentary, feature articles, speeches and a set of statistical tables.
| 8:30am | UK | Retail Sales m/m |  | 0.6% | 0.5% | 0.7% | [read]
Investica Analysis Seasonal factors could produce a strong figure Definition Measures the monthly change in total value of sales at the retail level. A rising trend indicates higher consumer spending, which is an important driver of the economy.
| 11:00am | CAN | Consumer Price Index m/m |  | 0.5% | 0.3% | 0.5% | [read]
Definition The Consumer Price Index (CPI) measures the rate of inflation experienced by consumers. The reading represents the monthly change in the average price of a fixed basket of goods and services purchased by consumers. Higher inflation generally leads to higher interest rates, which tend to strengthen the country's currency.
| 11:00am | CAN | CPI excl. Volatile Items m/m |  | -0.1% | 0.2% | 0.4% | [read]
Investica Analysis A low figure would incease pressure for a pause in Bank of Canada tightening. Definition This indicator is a derivative of the Consumer Price Index (CPI) that excludes the eight most volatile items.
| 12:30pm | USA | Unemployment Claims |  | 367K | 310K | 324K | [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.
| 1:30pm | USA | Bernanke Speaks |  |  |  |  | [read]
Investica Analysis Any interest rate comemnts will be seized on by the markets. Definition Federal Reserve Chairman Ben Bernanke will speak at the Chicago Fed conference on Bank Structure and Competition, in Chicago. Audience questions expected.
| 2:00pm | USA | Leading Indicators |  | -0.1% | 0.2% | -0.1% | [read]
Definition Measures overall economic activity by combining ten indicators including factory workweek, new orders for consumer goods, new orders for nondefense capital goods, stock prices, initial jobless claims, vendor performance, building permits, money supply, consumer expectations and the spread between the 10-year note and the federal funds rate. Many of the components were previously reported which minimizes the indicator's market impact. The Conference Board publishes this indicator monthly.
| 2:45pm | USA | Richmond Fed President Lacker Speaks |  |  |  |  | [read]
Definition Richmond Federal Reserve Bank President Jeffrey Lacker will speak about consumer finance at the conference of state bank supervisors annual meeting, in Norfolk, Virginia. Audience questions expected.
| 3:45pm | USA | St. Louis Fed President Poole Speaks |  |  |  |  | [read]
Definition St. Louis Federal Reserve Bank President William Poole will speak at Global Interdependence Center on yield curve inversion, in Philadelphia, Pennsylvania.
| 4:00pm | USA | Philadelphia Fed Index |  | 14.4 | 14.0 | 13.2 | [read]
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.
| 9:30pm | USA | Greenspan Speaks |  |  |  |  | [read]
Definition Former Federal Reserve Chairman Alan Greenspan will address the Bond Market Association, in New York.
| 11:50pm | JPN | Gross Domestic Product q/q (p) |  | 0.5% | 0.3% | 1.3% | [read]
Definition Gross Domestic Product (GDP) measures the value of all goods and services produced by the economy. The reading represents the quarterly change in value. GDP is the broadest measure of economic activity and the primary gauge of an economy's health. It therefore can have a significant impact on the value of a country's currency.
| 11:50pm | JPN | GDP Deflator q/y (p) |  | -1.3% | -1.3% | -1.6% | [read]
Investica Analysis Continuing deflation would increase pressure for interest rate increases to be delayed. Definition The Gross Domestic Product (GDP) Deflator measures the implicit rate of inflation for all economic activity. The deflator is used to calculate the difference between nominal and real GDP, and is the economy's broadest measure of inflation.
Fri. 05/19 | 5:00am | JPN | BOJ Interest Rate Statement |  | 0.0% | 0.0% | 0.0% | [read]
Investica Analysis Policy should be left unchanged this week. Merlin Says There is a chance that the BOJ raises rates during this meeting. This would end a five year zero-interest-rate policy and would have a huge impact on the currency markets. Most analysts, however, expect the policy shift to come later this year. The time listed for this event is tentative so watch for changes. Definition The Bank of Japan (BOJ) Interest Rate Statement is released shortly after a meeting in which the BOJ Monetary Policy Committee, headed by Toshihiko Fukui, makes a decision on where to set short-term interest rates. The BOJ focuses heavily on inflation, as their stated mission is to achieve price stability. They generally raises rates to fight rising inflation, and lower rates in the face of deflation or economic slowdown.
| 6:00am | JPN | BOJ Monetary Policy Report |  |  |  |  | [read]
Definition The Bank of Japan (BOJ) monthly Monetary Policy Report covers recent economic and financial developments that may effect the Bank's interest rate posture and open market operations.
| 6:00am | GER | Producer Price Index m/m |  | 1.0% | 0.7% | 0.5% | [read]
Definition The Producer Price Index (PPI) measures the rate of inflation experienced by manufacturers. The reading represents the monthly change in the average price of a fixed basket of goods and services purchased by manufacturers. Higher inflation generally leads to higher interest rates, which tend to strengthen the country's currency.
| 12:30pm | CAN | Retail Sales m/m |  | 1.5% | 0.6% | -0.4% | [read]
Definition Measures the monthly change in total value of sales at the retail level. A rising trend indicates higher consumer spending, which is an important driver of the economy.
| 12:30pm | CAN | Retail Sales excl. Autos m/m |  | 0.7% | 0.7% | 0.3% | [read]
Definition Derivative of Retail Sales that excludes the volatile Automobile Sales component.
| 5:30pm | USA | New York Fed Pres. Geithner Speaks |  |  |  |  | [read]
Definition New York Federal Reserve Bank President Timothy Geithner will speak at the Bond Market Association annual meeting, in New York.
Mon. 05/22 | 9:00am | E-12 | Trade Balance |  | 1.2B | -2.1B | -3.1B | [read]
Definition Measures the difference in value between total imports and total exports of goods. A positive reading means that more goods were exported than imported over the previous month. The Trade Balance has a sizable impact on GDP and at extremes can directly influence the country's currency value.
| 9:45am | E-12 | ECB President Trichet Speaks |  |  |  |  | [read]
Definition European Central Bank President Jean-Claude Trichet will speak at the OECD Forum 2006 on globalisation in Paris, France.
| 12:30pm | USA | Boston Fed President Minehan Speaks |  |  |  |  | [read]
Definition Boston Federal Reserve President Cathy Minehan will speak at a housing conference in Boston.
| 5:00pm | USA | Dallas Fed President Fisher Speaks |  |  |  |  | [read]
Definition Dallas Federal Reserve Bank President Richard Fisher will speaks to the Dallas Assembly about "Coping with Globalization." Audience questions expected.
Tue. 05/23 | 9:00am | E-12 | Industrial New Orders m/m |  | -2.4% | -0.9% | 2.7% | [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.
| 2:00pm | USA | Fed Chairman Bernanke Speaks |  |  |  |  | [read]
Investica Analysis Markets will remain on high alert over interest rate comments Definition Federal Reserve Chairman Ben Bernanke, Treasury Secretary John Snow and SEC Chairman Christopher Cox will testify before the Senate Banking Committee about financial literacy.
| 11:50pm | JPN | Tertiary Industry Index m/m |  | -0.6% | -0.2% | -1.5% | [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.
| 11:50pm | JPN | All Industries Index m/m |  | -0.4% | -0.1% | -0.9% | [read]
Definition Adds data from the primary sector (including fishing, farming, forestry, mining, and manufacturing) to the Tertiary Industry Index.
Wed. 05/24 | 5:00am | JPN | 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.
| 6:00am | GER | Import Price Index m/m |  | 1.3% | 0.7% | 0.5% | [read]
Definition Measures the monthly rate of inflation for imported goods.
| 8:00am | GER | Ifo Business Climate Index |  | 105.6 | 104.9 | 105.9 | [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).
| 8:00am | GER | Ifo Business Expectations Index |  | 104.0 | 104.2 | 105.5 | [read]
Definition The Information and Forschung (Ifo) Business Expectations Index measures the mood of firms in regard to future expectations for the economy.
| 10:00am | UK | CBI Industrial Trends Indicator |  | -12 | -8 | -11 | [read]
Definition The Confederation of British Industry (CBI) Industrial Trends Indicator measures the level of optimism within manufacturing firms. It's derived from a monthly survey conducted by CBI where the balance of responses from firms saying they are 'more' or 'less' optimistic about the future than in the previous month. The indicator reading tends to correlate with annual GDP growth.
| 12:30pm | USA | Durable Goods Orders |  | -4.8% | -0.5% | 6.5% | [read]
Investica Analysis Underlying capital spending trends will be watched closely. Definition Measures the monthly increase in new purchase orders placed with domestic manufacturers for hard goods. The reading points to how busy manufacturers will be in the months to come as they work to fill the orders.
| 12:30pm | CAN | Leading Indicators m/m |  | 0.5% | 0.4% | 0.6% | [read]
Definition Measures overall economic activity by combining ten indicators that lead cyclical activity in the economy and together represent all major categories of Gross Domestic Product (GDP).
| 1:00pm | CAN | BOC Interest Rate Statement |  | 4.25% | 4.25% | 4.00% | [read]
Investica Analysis The statement will be important for markets. Definition The Bank of Canada (BOC) Interest Rate Statement is released shortly after a meeting in which the BOC, headed by David Dodge, makes a decision on where to set short-term interest rates (overnight rate). The BOC focuses heavily on inflation, as their stated mission is to achieve price stability. They generally raises rates to fight rising inflation, and lower rates in the face of deflation or economic slowdown.
| 2:00pm | USA | New Home Sales |  | 1.20M | 1.15M | 1.21M | [read]
Definition Measures the number of newly constructed homes sold in the previous month.
| 2:30pm | USA | EIA Crude Oil Inventories |  | 1.7M |  | -0.1M | [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.
| 3:45pm | USA | Fed Governor Kroszner Speaks |  |  |  |  | [read]
Definition Federal Reserve Governor Randall Kroszner will speak at the National Association for Business Economics seminar, in Washington.
| 10:30pm | USA | Chicago Fed President Moskow Speaks |  |  |  |  | [read]
Definition Chicago Federal Reserve Bank President Michael Moskow will speak to the Chicago Community Trust, in Chicago.
| 11:50pm | JPN | Trade Balance |  | 646B | 803B | 970B | [read]
Definition Measures the difference in value between total imports and total exports of goods. A positive reading means that more goods were exported than imported over the previous month. The Trade Balance has a sizable impact on GDP and at extremes can directly influence the country's currency value.
Thu. 05/25 | 8:30am | UK | Gross Domestic Product q/q (p) |  | 0.6% | 0.6% | 0.6% | [read]
Definition Gross Domestic Product (GDP) measures the value of all goods and services produced by the economy. The reading represents the quarterly change in value. GDP is the broadest measure of economic activity and the primary gauge of an economy's health. It therefore can have a significant impact on the value of a country's currency.
| 12:30pm | USA | Gross Domestic Product Annualized (p) |  | 5.3% | 5.9% | 4.8% | [read]
Investica Analysis An upward revision has been discounted Definition Gross Domestic Product (GDP) measures the value of all goods and services produced by the economy. The reading represents the quarterly change in value. GDP is the broadest measure of economic activity and the primary gauge of an economy's health. It therefore can have a significant impact on the value of a country's currency.
| 12:30pm | USA | GDP Deflator Annualized |  | 3.3% | 3.3% | 3.3% | [read]
Investica Analysis Inflation data will be important for the Fed. Definition The Gross Domestic Product (GDP) Deflator measures the 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.
| 12:30pm | USA | Unemployment Claims |  | 329K | 315K | 367K | [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.
| 2:00pm | USA | Existing Home Sales |  | 6.76M | 6.75M | 6.92M | [read]
Definition Measures the number of previously constructed homes that were sold last 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.
| 11:30pm | JPN | Consumer Price Index m/m |  | 0.3% | 0.2% | -0.1% | [read]
Definition The Consumer Price Index (CPI) measures the rate of inflation experienced by consumers. The reading represents the monthly change in the average price of a fixed basket of goods and services purchased by consumers. Higher inflation generally leads to higher interest rates, which tend to strengthen the country's currency.
| 11:30pm | JPN | Tokyo Consumer Price Index m/m |  | 0.3% | 0.1% | 0.2% | [read]
Definition The Consumer Price Index (CPI) measures the rate of inflation experienced by consumers living in Tokyo, the nation's most populated city. The reading represents the monthly change in the average price of a fixed basket of goods and services purchased by consumers. Higher inflation generally leads to higher interest rates, which tend to strengthen the country's currency. Tokyo CPI tends to have a greater market impact than National CPI because it's the most recent reading on inflation. Tokyo is relatively small population to survey and therefore results are reported about a month before national results.
| 11:30pm | JPN | Tokyo CPI excl. Fresh Food m/m |  | 0.3% | 0.1% | 0.2% | [read]
Investica Analysis A high figure would reinforce expectations of a near-term tightening. Definition This indicator is a derivative of the Tokyo Consumer Price Index (CPI) that excludes the volatile fresh food items. It tends to have a greater market impact because it's the most recent reading on inflation. Tokyo is relatively small population to survey and therefore results are reported about a month before national results.
Fri. 05/26 | 10:15am | E-12 | ECB President Trichet Speaks |  |  |  |  | [read]
Definition European Central Bank President Jean-Claude Trichet will speak at the EABH Conference on “The State and Financial Services: Regulation, Ownership and Deregulation” organised by Caixa Geral de Depósitos and the European Association for Banking and Financial History in Lisbon, Portugal.
| 12:30pm | USA | Personal Income |  | 0.5% | 0.7% | 0.5% | [read]
Definition Measures the monthly change in average personal income received from all sources.
| 12:30pm | USA | Personal Spending |  | 0.6% | 0.6% | 0.6% | [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.
| 12:30pm | USA | PCE Core y/y |  | 2.1% | 2.1% | 2.0% | [read]
Definition Personal Consumption Expenditures (PCE) Core measures the rate of inflation experienced by consumers. Like CPI, it reflects the price change in consumer goods and services. PCE differs from CPI in that it only measures goods and services targeted towards and consumed by individuals. PCE is one of the Federal Reserve's favorite inflation indicators and is watched closely by traders.
| 1:45pm | USA | Consumer Sentiment (f) |  | 79.1 | 79.0 | 79.0 | [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.
Sun. 05/28 | 11:50pm | JPN | Large Retailers' Sales y/y |  | -0.8% | -1.5% | -0.3% | [read]
Definition Measures the annual change in sales value and volume of Japan's largest retailers.
| 11:50pm | JPN | Retail Sales y/y |  | -0.6% | -0.4% | 1.1% | [read]
Definition Measures the monthly change in total value of sales at the retail level. A rising trend indicates higher consumer spending, which is an important driver of the economy.
Mon. 05/29 | 8:00am | UK | Holiday: Spring Bank Holiday |  |  |  |  | [read]
Merlin Says The Forex market as a whole will be open, but your broker may close for a period. This creates a situation where you could have a position in the open 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. Forex volume should be very light. Definition UK Markets will be closed in observance of the Spring Bank Hoiday.
| 12:00pm | USA | Holiday: Memorial Day |  |  |  |  | [read]
Merlin Says The Forex market as a whole will be open, but your broker may close for a period. This creates a situation where you could have a position in the open 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. Forex volume should be very light. Definition US Markets will be closed in observance of Memorial Day.
| 11:30pm | JPN | Unemployment Rate |  | 4.1% | 4.1% | 4.1% | [read]
Definition Measures the percentage of the total work force that is unemployed and actively seeking employment. Rising unemployment is a sign of a slowing economy.
| 11:30pm | JPN | Personal Income y/y |  | -4.9% | -4.0% | -4.9% | [read]
Definition Measures the annual change in average personal income received from all sources.
| 11:30pm | JPN | Household Spending y/y |  | -2.0% | -1.4% | -2.1% | [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.
| 11:50pm | JPN | Industrial Production m/m |  | 1.5% | 1.8% | 0.2% | [read]
Definition Measures the monthly change in total output of factories, mines, and utilities. A rising trend generally indicates a strengthening economy.
Tue. 05/30 | 1:30am | AUS | Retail Sales m/m |  | 1.4% | 0.3% | 0.3% | [read]
Definition Measures the monthly change in total value of sales at the retail level. A rising trend indicates higher consumer spending, which is an important driver of the economy.
| 8:00am | E-12 | M3 Money Supply y/y |  | 8.8% | 8.6% | 8.6% | [read]
Definition Measures the Eurozone's outstanding currency. The indicator is developed by comparing year over year currency levels. 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
| 12:30pm | CAN | Industrial Product Price Index m/m |  | 1.3% | 0.7% | 0.8% | [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.
| 12:30pm | CAN | Raw Materials Price Index m/m |  | 1.6% | 2.0% | 0.8% | [read]
Definition The Raw Materials Price Index (RMPI) measures price changes for raw materials purchased by industries in Canada for further processing.
| 12:30pm | CAN | Current Account |  | 10.7B | 8.7B | 13.3B | [read]
Definition Measures the difference in value between total imports and total exports of goods, services, income, and current transfers. It's essentially a statement of the country's trade with other nations over a period of time.
| 2:00pm | USA | Consumer Confidence |  | 103.2 | 101.0 | 109.6 | [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 and strengthens the country's currency.
Wed. 05/31 | 1:30am | AUS | Trade Balance |  | -1.1B | -1.4B | -1.5B | [read]
Definition Measures the difference in value between total imports and total exports of goods. A positive reading means that more goods were exported than imported over the previous month. The Trade Balance has a sizable impact on GDP and at extremes can directly influence the country's currency value.
| 5:00am | JPN | Housing Starts y/y |  | 15.0% | 5.6% | 3.9% | [read]
Definition Measures the annual change in the number of new single-family homes or buildings constructed.
| 6:00am | GER | Retail Sales m/m |  | 2.8% | 1.5% | -2.7% | [read]
Definition Measures the monthly change in total value of sales at the retail level. A rising trend indicates higher consumer spending, which is an important driver of the economy.
| 7:55am | GER | Unemployment Rate |  | 11.0% | 11.3% | 11.3% | [read]
Definition Measures the percentage of the total work force that is unemployed and actively seeking employment. Rising unemployment is a sign of a slowing economy.
| 9:00am | E-12 | Consumer Confidence |  | -9 | -10 | -10 | [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 and strengthens the country's currency.
| 9:00am | E-12 | Consumer Price Index y/y (p) |  | 2.5% | 2.4% | 2.4% | [read]
Definition The Consumer Price Index (CPI) measures the rate of inflation experienced by consumers. The reading represents the annual estimated change in the average price of a fixed basket of goods and services purchased by consumers. Higher inflation generally leads to higher interest rates, which tend to strengthen the country's currency.
| 9:30am | UK | GfK Consumer Confidence |  | -5 | -4 | -4 | [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. GfK, a leading German market research company, publishes this indicator monthly.
| 11:45am | USA | New York Fed Geithner Speaks |  |  |  |  | [read]
Definition New York Federal Reserve President Timothy Geithner will speak at the Financial Services Forum, in New York.
| 12:30pm | CAN | Gross Domestic Product m/m |  | 0.1% | 0.4% | 0.2% | [read]
Definition Gross Domestic Product (GDP) measures the value of all goods and services produced by the economy. The reading represents the quarterly change in value. GDP is the broadest measure of economic activity and the primary gauge of an economy's health. It therefore can have a significant impact on the value of a country's currency.
| 2:00pm | USA | Chicago PMI |  | 61.5 | 55.8 | 57.2 | [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. 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.
| 6:00pm | USA | FOMC Meeting Minutes |  |  |  |  | [read]
Investica Analysis A Fed split would be damaging for the dollar. 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. 06/01 | 7:55am | GER | Manufacturing PMI |  | 58.5 | 57.6 | 58.1 | [read]
Definition The Manufacturing Purchasing Manager's Index (PMI) measures the health of the manufacturing sector. 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.
| 8:00am | E-12 | Manufacturing PMI |  | 57.0 | 56.4 | 56.7 | [read]
Definition The Manufacturing Purchasing Manager's Index (PMI) measures the health of the manufacturing sector. 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.
| 8:30am | UK | Manufacturing PMI |  | 53.2 | 53.7 | 54.1 | [read]
Definition The Manufacturing Purchasing Manager's Index (PMI) measures the health of the manufacturing sector. 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.
| 9:00am | E-12 | Unemployment Rate |  | 8.0% | 8.1% | 8.0% | [read]
Definition Measures the percentage of the total work force that is unemployed and actively seeking employment. Rising unemployment is a sign of a slowing economy.
| 9:00am | E-12 | Gross Domestic Product q/q (p) |  | 0.6% | 0.6% | 0.3% | [read]
Definition Gross Domestic Product (GDP) measures the value of all goods and services produced by the economy. The reading represents the quarterly change in value. GDP is the broadest measure of economic activity and the primary gauge of an economy's health. It therefore can have a significant impact on the value of a country's currency.
| 9:00am | E-12 | GDP Forecasts |  |  |  |  | [read]
Definition The European Commission's twice-annual Gross Domestic Product (GDP) Forecasts cover the euro area and the EU as a whole, the individual EU Member States, acceding and candidate countries, and other major economies outside the EU. These are short-term projections of the main macroeconomic variables over the next two years.
| 12:30pm | USA | Nonfarm Productivity q/q (f) |  | 3.7% | 4.2% | 3.2% | [read]
Definition Measures the 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.
| 12:30pm | USA | Unemployment Claims |  | 336K | 320K | 329K | [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.
| 2:00pm | USA | Construction Spending m/m |  | -0.1% | 0.2% | 0.9% | [read]
Definition Measures the monthly change in value of new construction projects.
| 2:00pm | USA | ISM Manufacturing Index |  | 54.4 | 56.0 | 57.3 | [read]
Investica Analysis The dollar will now be more vulnerable on a weak reading Definition The Institute of Supply Management (ISM) Manufacturing Index measures growth in the manufacturing sector. To produce the index, the ISM surveys 400 manufacturing firms on employment, production, new orders, supplier deliveries, and inventories. A reading above 50 indicates an expanding manufacturing sector.
| 2:30pm | USA | EIA Crude Oil Inventories |  | 1.6M |  | -3.0M | [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.
| 11:50pm | JPN | Monetary Base y/y |  | -15.3 | -16.0% | -7.2% | [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.
Fri. 06/02 | 9:00am | E-12 | Producer Price Index m/m |  | 0.7% | 0.7% | 0.4% | [read]
Definition The Producer Price Index (PPI) measures the rate of inflation experienced by manufacturers. The reading represents the monthly change in the average price of a fixed basket of goods and services purchased by consumers. Higher inflation generally leads to higher interest rates, which tend to strengthen the country's currency.
| 12:30pm | USA | Nonfarm Employment Change |  | 75K | 180K | 138K | [read]
Investica Analysis Some recovery from April levels is likely. Definition Measures the number of new jobs created in the previous month, excluding the farming industry. Employment growth will generally strengthen a country's currency, as it is one of the most important indicators of economy health.
| 12:30pm | USA | Unemployment Rate |  | 4.6% | 4.7% | 4.7% | [read]
Definition Measures the percentage of the total work force that is unemployed and actively seeking employment. Rising unemployment is a sign of a slowing economy.
| 12:30pm | USA | Average Hourly Earnings m/m |  | 0.1% | 0.3% | 0.5% | [read]
Investica Analysis Earnings data will be very important for the Fed. Definition Measures the monthly change in the hourly rate paid to the jobholders indicated in nonfarm payrolls.
| 2:00pm | USA | Factory Orders m/m |  | -1.8% | -2.2% | 4.2% | [read]
Definition Measures the monthly change in the value of manufacturer's new orders for goods. A rising trend indicates a growing economy. This report gives more in-depth information than the durable goods report released about two weeks earlier.
Mon. 06/05 | 8:30am | UK | Services PMI |  | 59.2 | 59.0 | 59.7 | [read]
Definition The Services Purchasing Manager's Index (PMI) measures the health of the services sector. 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.
| 2:00pm | USA | ISM Non-Manufacturing Index |  | 60.1 | 60.0 | 63.0 | [read]
Definition The Institute of Supply Management (ISM) Non-Manufacturing Index measures growth in various industries, including agriculture, mining, construction, transportation, communications, wholesale and retail trade. To produce the index, the ISM surveys 400 firms on employment, production, new orders, supplier deliveries, and inventories. A reading above 50 indicates an expanding services sector.
| 6:15pm | USA | Central Bank Chiefs Speak |  |  |  |  | [read]
Investica Analysis Suggestions of a pause in tightening from Bernanke would hurt the dollar. Definition Federal Reserve Chairman Ben Bernanke, European Central Bank President Jean-Claude Trichet and Bank of Japan Deputy Governor Toshiro Muto speak at the American Bankers Association's International Monetary Conference in Washington DC.
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