M3 Money Supply 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

ECB President Jean-Claude Trichet will deliver keynote speech “Looking at EU and euro area enlargement from a central banker’s angle: the views of the ECB” at an event organised by the Bulgarian Diplomatic Institute in Sofia, Bulgaria.

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.

Seasonal distortions are liable to continue.

Measures the number of newly constructed homes sold in the previous month.

Measures the monthly change in total output of factories, mines, and utilities. A rising trend generally indicates a strengthening economy.

Measures the annual 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.

Measures the annual sales activity of Japan's largest retailers.

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.

Measures the annual change in the number of new single-family homes or buildings constructed.

Measures the monthly change in the average price for a house in the UK. It serves as an inflation indicator for the housing market.

Measures the percentage of the total work force that is unemployed and actively seeking employment. Rising unemployment is a sign of a slowing economy.

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.

Measures the mood of manufacturers 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 indicator readings point to higher manufacturer optimism. When manufacturers are optimistic they tend to purchase more goods and services, which stimulates the economy and strengthens the country's currency.

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.

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. GfK, a leading German market research company, publishes this indicator monthly.

The data is not likely to have a major impact on the Bank of Canada.

Gross Domestic Product (GDP) measures the value of all goods and services produced by the economy. The reading represents the monthly 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.

A significant upward revision is likely.

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.

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, thereby acting as the economy's broadest measure of inflation.

New York Federal Reserve President Timothy Geither speaks at Risk Management Conference in New York.

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.

The data is prone to monthly volatility

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.

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.

Chicago Federal Reserve President Michael Moskow speaks about Pensions.

Markets are looking for a firm figure which could lead to AUD vulnerability.

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.

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.

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.

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. The Chartered Institute of Purchasing and Supply (CIPS) publishes this indicator monthly.

Measures the percentage of the total work force that is unemployed and actively seeking employment. Rising unemployment is a sign of a slowing economy.

The Consumer Price Index (CPI) measures the rate of inflation experienced by consumers. The reading represents the annual 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.

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.

The Raw Materials Price Index (RMPI) measures price changes for raw materials purchased by industries in Canada for further processing.

Measures the monthly change in average personal income received from all sources.

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.

A weak Chicago report means increased importance for the national figure.

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.

Measures the monthly change in value of new construction projects.

Federal Reserve Governor Donald L. Kohn Testifies before the Senate about Regulatory Relief.

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.

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.

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.

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.

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.

The 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. The Chartered Institute of Purchasing and Supply (CIPS) publishes this indicator monthly.

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.

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.

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.

Trichet's comments will be important and a firm stance is likely.

ECB President Jean-Claude Trichet to speak at press conference following the Governing Council meeting of the ECB in Frankfurt

Federal Reserve Governor Mark Olson speaks at Banking Forum in New Orleans.

Measures the percentage of the total work force that is unemployed and actively seeking employment. Rising unemployment is a sign of a slowing economy.

The CPI report will be very important for the Bnak of Japan policy shift timing.

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.

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.

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.

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.

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. The Chartered Institute of Purchasing and Supply (CIPS) publishes this indicator monthly.

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.

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.

The price component could be significant in the data.

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.

Federal Reserve Vice Chairman Roger W. Ferguson, Jr. speaks at the Economic Outlook Howard University Economics Forum, in Washington.

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.

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.

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.

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.

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.

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.

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 moulds.

Measures the monthly change in the value of manufacturer's new orders for goods. A rising trend indicates a growing economy.

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.

The Bnak of Canada statement following the decision will need to be watched closely.

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.

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.

An unchanged policy is likely.

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.

Chicago Federal Reserve President Michael Moskow will speak at the University of Chicago Business School.

Measures the annual change in Japan's outstanding currency. M2+CD is calculated as follows:

M1 = currency in circulation + overnight deposits
M2+CD = M1 + Quasi-Money (Time Deposits etc.) + CDs

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. Higher readings point to higher consumer optimism.

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.

Measures the current state of the economy. A rising Coincident Index signals an expansion phase while a falling reading is a sign of a contraction phase.

Measures the number of new single-family homes or buildings constructed throughout the previous month.

St. Louis Federal Reserve President William Poole will speak to the Economic Development Group in St. Louis, Missouri.

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.

Federal Reserve Chairman Ben Bernanke will address general session of the Independent Community Bankers of America, in Las Vegas, Nevada.

Eurpean Central Bank Governing Council member Yves Mersch will speak in Luxembourg.

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.

Measures the percentage of the total work force that is unemployed and actively seeking employment. Rising unemployment is a sign of a slowing economy.

Some form of policy change is likely.

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 in April. The time listed for this event is tentative so watch for changes.

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.

The Bank of Japan (BOJ) monthly Monetary Policy Report covers recent economic and financial developments that may effect the Bank's open market operations.

Measures the monthly change in total output of factories, mines, and utilities. A rising trend generally indicates a strengthening economy.

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.

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.

Measures the monthly change in total output of factories, mines, and utilities. A rising trend generally indicates a strengthening economy.

No change in interest rates is likely.

The Bank of England (BOE) Monetary Policy Committee Interest Rate Decision is released shortly after a meeting in which the BOE 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.

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.

A firm figure is likely.

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.

Volatile imports could result in an erratic trade figure.

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.

A low figure would boost confidence in the payroll report.

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.

Federal Reserve Governor Donald Kohn will speak at the new Detroit Federal Reserve Branch.

New York Federal Reserve Bank President Timothy Geithner will speak about the U.S. economy, at the Japan Society in New York.

The Corporate Goods Price Index (CGPI) measures the rate of inflation experienced by corporations. The reading represents the monthly change in the average price of a fixed basket of goods and services purchased by corporations.

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.

Measures the monthly change in value of new orders placed with machine manufacturers.

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.

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.

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.

Measures the percentage of the total work force that is unemployed and actively seeking employment. Rising unemployment is a sign of a slowing economy.

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.

Jobless claims data suggest a firm figure is likely.

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.

Measures the percentage of the total work force that is unemployed and actively seeking employment. Rising unemployment is a sign of a slowing economy.

The Fed will be looking at the earnings data.

Measures the monthly change in the hourly rate paid to the jobholders indicated in nonfarm payrolls.

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.

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, thereby acting as the economy's broadest measure of inflation.

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.

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.

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.

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.

San Francisco Federal Reserve Bank President Janet Yellen will speak about enhancing Fed credibility, in Crystal City, Virginia.

Federal Reserve Governor Mark Olson will speak on Banking in Washington DC.

The minutes should give insight into the BOJ's plans for rate hikes.

The Bank of Japan (BOJ) Meeting Minutes are a verbatim record of the bank's meeting held about one month earlier.

A firm reading is likely, but big gains will be difficult.

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.

The income account will need to be watched closely.

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.

There will be a payback from January strength.

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.

This indicator is a derivative of Retail Sales that excludes the volatile Automobile Sales component.

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.

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.

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.

Measures the percentage of the total work force that is unemployed and actively seeking employment. Rising unemployment is a sign of a slowing economy.

Measures the value of all filled manufacturing orders over the previous month. The reading is derived from the Monthly Survey of Manufacturing (MSM).

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.

Measures the monthly rate of inflation for imported goods.

Measures the monthly rate of inflation for exported goods.

The monthly data will remain volatile and bond inflows will need to be watched closely.

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.

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.

Atlanta Federal Reserve Bank President Jack Guynn will speak on the economic outlook and the evolution of the global economy in Atlanta. Audience questions expected.

San Francisco Federal Reserve President Janet Yellen will speak to Australian Business Economists.

The weak unemployemnt report will increase the importance of retail sales.

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.

A high figure would reinforce ECB inflation concerns.

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.

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.

This indicator is a derivative of the Consumer Price Index (CPI) that excludes the eight most volatile items.

The headline increase should be low after last month's jump.

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.

A figure outside a 0.1 - 0.3% range would have a big impact.

This indicator is a derivative of the Consumer Price Index (CPI) that excludes the volatile food and energy items.

Measures the number of new single-family homes or buildings constructed throughout the previous month.

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.

European Central Bank President Jean-Claude Trichet will speak at the ECB colloquium in honour of Otmar Issing entitled “Monetary Policy: a journey from theory to practice” held in Frankfurt. Audience questions expected.

Federal Reserve Governor Donald Kohn will speak on monetary policy and asset prices at a colloquium honoring ECB's Otmar Issing, in Frankfurt, Germany. Audience questions expected.

The price component will be watched closely.

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.

Measures the monthly change in total output of factories, mines, and utilities. A rising trend generally indicates a strengthening economy.

Measures the monthly change in total value of sales at the wholesale level.

Measures the monthly change in total output of factories, mines, and utilities. A rising trend generally indicates a strengthening economy.

Capacity use rates will be important for the Fed.

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.

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.

European Central Bank Board Member José Manuel González-Páramo will speak at the University Pablo de Olavide in Sevilla, Spain.

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.

Measures foreign demand for Canadian debt and assets. Strong demand tends to strengthen the Canadian dollar as foreigners convert their money in order to purchase Canadian securities.

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.

Boston Federal Reserve Bank President Cathy Minehan will speak at the Massachusetts Association of Realtors, in Boston.

San Francisco Federal Reserve Bank President Janet Yellen will speak at the Community Reinvestment Conference, in Las Vegas, Nevada.

Bernanke will be reluctant to make major comments.

Federal Reserve Chairman Ben Bernanke will speak at the Economic Club of New York luncheon.

A low figure would reinforce speculation over a cut in interest rates.

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.

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.

Energy prices will continue to cause headline volatility.

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.

A low figure would further curb US interest rate expectations.

Derivative of the Producer Price Index (PPI) that excludes the volatile Food and Energy items.

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.

Derivative of Retail Sales that excludes the volatile Automobile Sales component.

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).

Sterling will be damged if more than one member voted for a cut.

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.

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.

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.

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.

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.

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.

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.

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.

Markets will remain sensitive to housing-sector developments.

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.

European Central Bank President Jean-Claude Trichet will speak at the Grandes Conférences Catholiques in Brussels, Belgium.

The index should show sustainable Japanese growth.

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.

Adds data from the primary sector (including fishing, farming, forestry, mining, and manufacturing) to the Tertiary Industry Index.

Monthly volatility remains a big threat on the report.

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.

Measures the number of newly constructed homes sold in the previous month.

The Federal Open Market Committee (FOMC), headed by Ben Bernanke, begins a two day meeting, held eight times per year, where they will make a decision on where to set the federal funds target rate.

A monthly increase in the index would support the Euro.

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).

The Information and Forschung (Ifo) Business Expectations Index measures the mood of firms in regard to future expectations for the economy.

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.

A 0.25% increase is likely. The Fed statement will be crucial.

This is Bernanke's first meeting as Chairman, the market volatility should be sky high both before and after the statement.

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.

Measures the annual change in sales activity of Japan's largest retailers.

Measures the annual 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.

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.

A deficit above GBP10bn would unsettle Sterling.

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.

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.

New York Federal Reserve President Timothy Geithner will speak at the New York Fed Conference.

Treasury Under Secretary for International Affairs Timothy Adams will testify before the Senate Finance Committee, on economic relations with China.

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.

Measures the monthly change in total output of factories, mines, and utilities. A rising trend generally indicates a strengthening economy.

Measures the percentage of the total work force that is unemployed and actively seeking employment. Rising unemployment is a sign of a slowing economy.

Principal interest will surround the inflation data.

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.

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.

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.

St. Louis Federal Reserve President William Poole will speak in Dayton Ohio.

European Central Bank President Jean-Claude Trichet will speak at the 2006 Spring Membership Meeting organised by the Institute of International Finance in Zurich, Switzerland.

Measures the percentage of the total work force that is unemployed and actively seeking employment. Rising unemployment is a sign of a slowing economy.

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.

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.

This indicator is a derivative of the Consumer Price Index (CPI) that excludes the volatile fresh food items.

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.

A strong figure would push the Bank of Japan towards an early interest rate increase.

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.

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.

Measures the annual change in the number of new single-family homes or buildings constructed.

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.

European Central Bank President Jean-Claude Trichet will speak at the 15th European Regional Conference of the Board of Governors organised by the French friends of the Tel Aviv University in Paris, France.

Measures the mood of manufacturers 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 indicator readings point to higher manufacturer optimism. When manufacturers are optimistic they tend to purchase more goods and services, which stimulates the economy and strengthens the country's currency.

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.

A rate above 2.32% would maintain pressure for another ECB interest rate increase.

The Consumer Price Index (CPI) measures the rate of inflation experienced by consumers. The reading represents the annual 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.

Sterling will be vulnerable if confidence deteriorates significantly.

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. GfK, a leading German market research company, publishes this indicator monthly.

Kansas City Federal Reserve President Thomas Hoeing will speak about 2006 outlook in Missouri.

Measures the monthly change in average personal income received from all sources.

The inflation figures in the spending data will be important.

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.

Firm data would rerinforce expectations of at least one more BOC rate increase.

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.

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.

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.

Measures the condition of large manufacturers in Japan. The Bank of Japan (BOJ) releases this indicator four times per year to provide an accurate picture of business trends. The Tankan Survey, which asks respondents about issues such as business conditions, supply and demand conditions for products and inventories, prices, sales, corporate profits, fixed investments and production capacity, and employment conditions, is one of the country's most respected gauges of economic welfare.

Measures the condition of large service-based firms in Japan. The Bank of Japan (BOJ) releases this indicator four times per year to provide an accurate picture of business trends in the services sector.

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.

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.

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.

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.

Krozner is the newest member of the Fed, he took office on March 1st.

Federal Reserve Govorner Randall S. Kroszner will speak at a European Conference in Frankfurt.

Measures the monthly change in value of new construction projects.

The price component will be important for interest rate expectations.

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.

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.

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.