Measures the annual change in currency outstanding. Higher levels of currency are viewed as deflationary and can have a devaluing effect on the currency . M3 Money Supply is calculated as follows:

M1 = currency in circulation + overnight deposits
M2 = M1 + deposits with agreed maturity up to 2 years + deposits redeemable up to 3 months' notice
M3 = M2 + repurchase agreements + money market fund shares/units and money market paper + debt securities issued up to 2 years

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.

Measures overall economic activity by combining eight indicators including money supply, building approvals, rural goods exports, sales to inventory ratios, gross operating surplus, and two bond yield calculations. The Conference Board publishes this indicator monthly.

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.

Measures private consumption trends by considering new car sales, business conditions in the retail sector, the number of overnight hotel stays, the consumer sentiment index, and certain credit card transactions. UBS publishes this indicator monthly, leading official statistics by up to three months.

Measures the mood of businesses in regard to economic expectations. It's derived from a monthly survey of 1,500 businesses conducted by the National Bank of New Zealand (NBNZ).

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.

Dallas Federal Reserve President Richard Fisher will speak at a community luncheon in San Antonio, Texas. Audience questions expected.

The Fed minutes should be firm, but markets will be forward looking on data.

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.

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 annual change in sales value and volume of Japan's largest retailers.

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.

Measures the quarterly change in building and engineering construction work done. The reading is derived from the quarterly Building Activity Survey.

Measures the annual change in currency outstanding. Higher levels of currency are viewed as deflationary and can have a devaluing effect on the currency.

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.

Measures overall economic activity through a qualitative business survey about developments in the recent past, the current situation and expectations for the next three to six months. Survey questions relate to production, orders and stocks of finished goods. The Swiss Institute for Business Cycle Research (KOF) publishes this indicator monthly.

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.

Estimates the number of new jobs created in the previous month. ADP, a leading provider of employment solutions for businesses, releases this indicator two days before the highly anticipated official Nonfarm Employment Change. ADP claims that this indicator has predictive value in regard to official statistics.

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

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.

Housing weakness will limit the upward revision.

Gross Domestic Product (GDP) measures the annualized quarterly change in the value of all goods and services produced by the economy. GDP is the broadest measure of economic activity and considered to be the primary gauge of an economy's health. However, the indicator rarely causes large reactions because most of the information it contains has already been reported via indicators such as CPI, personal spending, and housing.

The Fed will be watching core inflation closely.

The Gross Domestic Product (GDP) Deflator measures the annualized quarterly implied rate of inflation for all economic activity. The deflator is used to calculate the difference between nominal and real GDP. The Federal Reserve takes special note of this indicator because it is the economy's broadest measure of inflation.

Dallas Federal Reserve President Richard Fisher will speak at the North Dallas Chamber of Commerce in Dallas, Texas. Audience questions expected.

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.

The Manufacturing Purchasing Manager's Index (PMI) is a measure of purchasing manager sentiment throughout Japan. The report is released monthly by NTC Research on behalf of Nomura. The PMI has earned a reputation for accurately reflecting the true health of the Japanese manufacturing economy well ahead of official data. A rise in PMI indicates that business conditions in the manufacturing sector have improved.

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 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 a leading inflation indicator for the housing market.

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 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 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.

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.

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.

Rates should be unchanged

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.

The ECB 's stance will be important for near-term interest rate expectations.

European Central Bank President Jean-Claude Trichet will speak at a press conference following the Governing Council meeting of the ECB in Frankfurt.

Gross Domestic Product (GDP) measures the monthly change in the value of all goods and services produced by the economy. GDP is the broadest measure of economic activity and considered to be the primary gauge of an economy's health. However, the indicator rarely causes large reactions because most of the information it contains has already been reported via indicators such as CPI, personal spending, and housing.

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 two thirds of GDP and therefore a rising trend generally strengthens 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.

Personal Consumption Expenditures (PCE) Deflator measures the rate of inflation experienced by consumers. Like CPI, it reflects 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.

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.

Interest rate comments are likely to be limited at this stage.

Federal Reserve Chairman Ben Bernanke will speak about productivity at the Clemson Institute for Economic and Community Development, in Greenville, South Carolina. No audience questions expected.

St. Louis Federal Reserve President William Poole will speak to the Chamber of Commerce in Dyersburg, Tennessee.

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 Schweizerischer Verband für Materialwirtschaft und Einkauf (SVME) Purchasing Manager's Index (PMI) measures the health of the economy. It's derived from a monthly survey of purchasing managers where respondents indicate whether their organization's activity is higher than, the same as, or lower than the previous month for output, purchases, employment, inventories, orders, and prices. An index reading above 50 indicates sector expansion. PMI is believed to be a leading indicator because purchasing managers, by virtue of their jobs, have early access to data about their company’s performance.

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.

A further gradual slowdown is realistic

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.

Price indices will be watched closely.

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.

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

Gross Domestic Product (GDP) measures the quarterly change in the value of all goods and services produced by the economy. GDP is the broadest measure of economic activity and considered to be the primary gauge of an economy's health. However, the indicator rarely causes large reactions because most of the information it contains has already been reported via indicators such as CPI, personal spending, and housing.

The past three reports have been lower than expected.

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 timely and important indicators of economic 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 watching earnings trends closely.

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

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.

Measures the monthly change in value of new construction projects.

The prices component will be important.

The Institute of Supply Management (ISM) Manufacturing Index measures growth in the manufacturing industry. 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.

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.

The TD Secuties Melbourn Institute (TDMI) Inflation Gauge measures the rate of inflation experienced by consumers. Like CPI, it reflects the monthly price change in consumer goods and services. The Melbourne Institute, in conjunction with TD Securities, releases this indicator just days after the month has ended, and it's timeliness has caught the attention of traders.

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.

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. 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 Forex market as a whole will be open, but your broker may close for a period, especially if they are US based. This creates a situation where you could have an open position in the market but not have access to close your position or place orders. Make sure you check the schedule of your specific broker and plan accordingly.

US financial markets closed in observance of Labor Day.

European Central Bank President Jean-Claude Trichet will speak at a ceremony to receive the “Deutsch-Französischen Kulturpreis” organised by “Pro Europa”, European Foundation for Culture, in Berlin Germany.

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 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.

Some slowdown in the index is realistic.

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.

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 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. When consumers are optimistic they tend to purchase more goods and services, which stimulates the economy.

A change in rates would be a big surprise.

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 raise rates to fight inflation, and lower rates in the face of deflation or economic slowdown.

Gross Domestic Product (GDP) measures the quarterly change in the value of all goods and services produced by the economy. GDP is the broadest measure of economic activity and considered to be the primary gauge of an economy's health. However, the indicator rarely causes large reactions because most of the information it contains has already been reported via indicators such as CPI, personal spending, and housing.

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.

Energy production is liable to distort the data.

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

Measures the annualized quarterly growth in labor efficiency for producing goods and services outside the farming sector. A rising trend indicates future inflationary pressures as manufacturers raise prices in response to an at-capacity factory environment.

Measures the annualized quarterly growth in the labor cost of producing output. A rising trend indicates future inflationary pressures as the labor cost of producing goods rises.

The post-decision statement 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 raise rates to fight inflation, and lower rates in the face of deflation or economic slowdown.

The Institute of Supply Management (ISM) Non-Manufacturing Business Activity 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.

A drop in the prices index would ease inflation fears.

The Institute of Supply Management (ISM) Non-Manufacturing Price Index measures the monthly inflation experienced by non-manufacturing organizations when purchasing materials and services. The ISM surveys 400 firms to produce this index.

Inflation evidence will be the most important element

Provides a look at how regional Federal Reserve branches view the economy in their area. It is produced two weeks before the monetary policy meetings of the Federal Open Market Committee (FOMC), who uses the book's anecdotal evidence to help determine the path for interest rates.

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 timely and important indicators of economic 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.

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.

Gross Domestic Product (GDP) measures the quarterly change in the value of all goods and services produced by the economy. GDP is the broadest measure of economic activity and considered to be the primary gauge of an economy's health. However, the indicator rarely causes large reactions because most of the information it contains has already been reported via indicators such as CPI, personal spending, and housing.

Measures the annual change in the value of new orders place for machine tools, which includes capital goods that are used in the production of many such products as motor vehicles and their parts, electrical products, aircrafts and their parts, and dyes and molds.

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

Rates should be left on hold.

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.

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 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.

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.

San Francisco Federal Reserve President Janet Yellen will speak about the economy in Boise, Idaho. Audience questions expected.

Measures the annual change in currency outstanding. Higher levels of currency are viewed as deflationary and can have a devaluing effect on the currency . M2+CD is calculated as follows:

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

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.

Markets will be watching the BOJ statement after the decision.

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.

Measures the mood of businesses that directly service consumers, such as barbers, taxi drivers, and waiters. A reading above 50 signals an improvement in sentiment.

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 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.

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

Another employment decline would hurt the Canadian dollar.

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 timely and important indicators of economic health.

Cleveland Federal Reserve President Sandra Pianalto will speak about inflation at the Copper Development Association conference in Illinois. Audience questions expected.

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.

Measures the change in volume of imports that can be funded by a unit volume of exports. The index is calculated as the ratio of the total export price index to the total import price index. An increase in the terms of trade index indicates that the real purchasing power of exports has increased, while a decrease indicates a drop in the purchasing power of exports.

Gross Domestic Product (GDP) measures the quarterly change in the value of all goods and services produced by the economy. GDP is the broadest measure of economic activity and considered to be the primary gauge of an economy's health. However, the indicator rarely causes large reactions because most of the information it contains has already been reported via indicators such as CPI, personal spending, and housing.

The Gross Domestic Product (GDP) Deflator measures the annual implied rate of inflation for all economic activity. The deflator is used to calculate the difference between nominal and real GDP.

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

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.

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.

Boston Federal Reserve President Cathy Minehan will speak at the NABE Outlook conference, in Boston Massachusetts.

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

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.

Federal Reserve Board Governor Donald Kohn gives a speech on "Strategic Vision of the U.S. Payment System for Financial Institutions" before the Western Payments Alliance's "Payments in Transition: Risks and Payoffs" symposium, in Las Vegas Nevada.

St. Louis Federal Reserve President William Poole will speak at the NABE Outlook conference, in Boston Massachusetts.

The Organization of Petroleum Exporting Countries (OPEC) holds a press conference in Vienna shortly after a meeting in which officials decide on where to set oil production levels. OPEC nations contribute 40% of the world's oil, and their decisions can have a significant effect on oil prices.

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. Higher inflation generally leads to higher interest rates, which tend to strengthen the country's currency.

Measures the monthly rate of inflation for imported goods.

National Australia Bank (NAB) Business Confidence measures the mood of domestic firms in non-farm sectors. The indicator is derived from a survey of around 350 small to large sized companies.

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.

The Wholesale Price Index (WPI) measures the rate of inflation experienced at the wholesale level. The reading represents the monthly change in the average price of a fixed basket of goods and services purchased at the wholesale level.

A monthly increase of 0.4% or more would create pressure for higher 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.

Like CPI, the RPI reflects the monthly price change in consumer goods and services. RPI differs from CPI in that it only measures goods and services bought for the purpose of consumption by the vast majority of households.

This indicator is a derivative of the Consumer Price Index (CPI) that excludes the volatile Food, Energy, Alcohol and Tobacco items.

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.

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. 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 overall economic activity by combining several indicators including average weekly hours, new orders, consumer expectations, housing permits, stock prices, and interest rate spreads. Most of the components were previously reported which minimizes the indicator's market impact. The Conference Board publishes this indicator monthly.

San Francisco Federal Reserve President Janet Yellen will speak about the economy at a luncheon, in Emeryville California. Audience questions expected.

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 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 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.

The Bank of Japan (BOJ) Meeting Minutes are a verbatim record of the bank's meeting held about one month earlier. The minutes give traders insight into the latest interest rate decision and policy shifts.

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 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.

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 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.

Labor Productivity measures efficiency in producing goods and services. It's developed by comparing quarter over quarter growth in efficiency. A falling trend indicates future inflationary pressures as the labor cost of producing goods rises.

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.

Treasury Secretary Henry Paulson will speak about the international economy, in Washington.

Measures the monthly surplus or deficit of the federal government.

The Reserve Bank of New Zealand (RBNZ) Interest Rate Statement is released shortly after a meeting in which the RBNZ makes a decision on where to set short-term interest rates. The RBNZ focuses heavily on inflation, as their stated mission is to achieve price stability. They generally raise rates to fight inflation, and lower rates in the face of deflation or economic slowdown.

The Food Price Index (FPI) measures the rate of price change of food and food services purchased by households. Food is the only commodity group of the Consumers Price Index (CPI) for which an index is prepared each month, all others are prepared quarterly.

The Royal Institution of Chartered Surveyors (RICS) House Price Balance measures the price change of homes in the UK. This leading indicator represents the percentage of chartered surveyors reporting price falls in their designated area.

Measures the quarterly change in the number of residential buildings that have started contstruction.

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 annualized quarterly growth in the cost of labor. A rising trend indicates inflationary pressures in the labor market.

The Swiss National Bank (SNB) Interest Rate Statement is released shortly after a meeting in which the SNB, headed by Jean-Pierre Roth, makes a decision on where to set short-term interest rates. The SNB focuses heavily on inflation, as their stated mission is to achieve price stability. They generally raise rates to fight inflation, and lower rates in the face of deflation or economic slowdown.

Manufacturing Shipments is a measure of the monthly change in value of Canadian manufacturers' shipments.

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.

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 the monthly rate of inflation for imported goods.

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 quarterly change in total value of sales at the manufacturing level.

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.

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

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 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.

Energy prices will continue to have a significant impact.

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 underlying figure will be very important. An increase of 0.3% or higher would increase pressure for another rate increase.

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

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 monthly sales of new motor vehicles by unit of sales and value, by type (passenger cars, commercial vehicles) and country of origin. Data is released for Canada and the ten provinces.

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

The Fed will also be monitoring the capacity use rate.

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.

Kansas City Federal Reserve President Thomas Hoenig will speak to the Independent Bankers of Colorado, in Copper Mountain Colorado. Audience questions expected.

All eyes on comments about the Japanese Yen.

The Group of Seven (G7) will have meeting in Singapore to discuss a range of issues, and at the conclusion will hold a press conference. The G7 consists of the world’s richest nations - United States, Japan, Germany, United Kingdom, France, Italy and Canada. The meetings consider economic policy issues as well as political and security matters. Though not an institution, the G7 represents an important global policy making process at the highest level.

Measures the monthly change in the average asking price of residential properties. Rightmove, the UK's leading property website, publishes this indicator in the same month the data is collected, making it a leading indicator of inflation in the housing sector.

Japanese financial markets will be closed in observance of Respect for the Aged Day.

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

Measures the value of domestic securities, debt and assets purchased by foreigners in the previous month. Strong demand tends to strengthen the Canadian dollar as foreigners convert their money in order to purchase Canadian securities.

The markets will not want to focus on the deficit, but a figure above US$225bn would undermine the dollar.

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.

Official capital inflows will need to be monitored 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 dollar will remain sensitive to housing trends.

The National Association of Home Builders (NAHB) Housing Market Index combines several factors including present sales of new homes, sales of new homes expected in the next six months, and traffic of prospective buyers in new homes. The NAHB produces the index through a survey in which respondents are asked to rate the general economy and housing market conditions.

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.

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.

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 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 Bank of Canada will watch the underlying rate closely.

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

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 Fed will be most concerned over the core rate.

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

Another sharp decline would risk a sharp deterioation in dollar confidence.

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

Measures the number of new construction intentions. This data is a leading indicator for the construction industry since the issuance of a building permit is one of the first steps in the construction process.

The Liberal Democratic Party (LDP) will hold presidential elections. Chief Cabinet Secretary Shinzo Abe is expected to succeed outgoing Prime Minister Junichiro Koizumi.

Any suggestion of an October rate increase would support Sterling.

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 amount by which public sector expenditure exceeds income for both current and capital transactions. The "public sector" is the part of the economy that includes central government, local government and public corporations. It gives insight into the state of consumer finances and can act as a leading indicator of consumer spending.

Measures overall economic activity by combining several indicators including average weekly hours, new orders, consumer expectations, housing permits, stock prices, and interest rate spreads.

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

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.

The statement will be important for market expectations.

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 raise rates to fight inflation, and lower rates in the face of deflation or economic slowdown.

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 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 Reserve Bank of Australia (RBA) Bulletin is a monthly publication that contains economic commentary, feature articles, speeches and a set of statistical tables.

Measures the number of new vehicles sold in the previous month. New vehicle sales are a good indicator of trends in consumer spending.

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 Orders measures the level of new orders placed with manufacturers.

Monthly volatility has been high over the past few months.

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 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.

Measures overall economic activity by combining several indicators including average weekly hours, new orders, consumer expectations, housing permits, stock prices, and interest rate spreads. Most of the components were previously reported which minimizes the indicator's market impact. The Conference Board publishes this indicator monthly.

Principal interest is likely to be in the prices component.

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.

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

Measures the output of domestic vehicle manufacturers.

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 Consumer Price Index (CPI) measures the rate of inflation experienced by consumers. A rising trend has a positive effect on the nation's currency. The primary objective of the central bank is to achieve price stability; when inflation rises above an annualized rate of approximately 2%, they will respond by raising interest rates to bring prices down. Higher interest rates attract foreign investment, thus increasing demand for the nation's currency. CPI is one of the most closely watched indicators and will usually have a high impact upon release.

Dallas Federal Reserve President Richard Fisher will speak about the US and Mexican economies, in Monterrey Mexico. Audience questions expected.

A recovery in sales would offer important dollar relief.

Measures the monthly change in the number of existing homes sold in the previous month. Existing Home Sales make up a larger portion of the housing market than New Home Sales, and therefore are an important indicator of trends in the housing market. This indicator is published monthly by the National Association of Realtors.

New York Federal Reserve President Timothy Geithner will speak about the role of the New York Federal Reserve.

Measures the difference in value between imported and exported goods and services. A positive Trade Balance indicates that more goods and services were exported than imported. A rising trend has a positive effect on the nation's currency. As higher levels of exports are sold to the world, demand for the nation's currency is elevated as foreigners convert their native currency to purchase these exports. The Trade Balance also has a sizable impact on GDP because high demand for exports creates increased employment and production as domestic factories work to fill this foreign demand.

Measures the monthly rate of inflation for imported goods.

Measures private consumption trends by considering new car sales, business conditions in the retail sector, the number of overnight hotel stays, the consumer sentiment index, and certain credit card transactions. UBS publishes this indicator monthly, leading official statistics by up to three months.

The index should prove more resilient than the ZEW index.

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).

Business Investment measures investment trends by businesses, as well as capital expenditure data for various sectors of 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.

Measures the mood of manufacturers in the Richmond Federal Reserve District. The Richmond Fed conducts a monthly survey that asks respondents to rate their business on an assortment of indicators, concerning both the present situation and future expectations. The survey results are converted into a general index of business and manufacturing conditions within the Richmond Federal Reserve district.

Measures overall economic activity by combining several indicators including average weekly hours, new orders, consumer expectations, housing permits, stock prices, and interest rate spreads. Most of the components were previously reported which minimizes the indicator's market impact. The Conference Board publishes this indicator monthly.

FF mistakenly set this event for Sept 26th, it should be on the 27th (as it is set now). The release time is still tentative.

Measures the mood of consumers in regard to economic conditions. The reading is derived from a quarterly 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.

Measures the mood of consumers in regard to economic conditions. The reading is derived from a monthly survey that asks respondents to evaluate the prospects for the economy in the future. GfK, a leading German market research company, publishes this indicator monthly. Higher readings point to higher consumer optimism. When consumers are optimistic they tend to purchase more goods and services, which stimulates the economy.

Measures the annual change in currency outstanding. Higher levels of currency are viewed as deflationary and can have a devaluing effect on the currency . M3 Money Supply is calculated as follows:

M1 = currency in circulation + overnight deposits
M2 = M1 + deposits with agreed maturity up to 2 years + deposits redeemable up to 3 months' notice
M3 = M2 + repurchase agreements + money market fund shares/units and money market paper + debt securities issued up to 2 years

Gross Domestic Product (GDP) measures the total value of all goods and services produced by the economy. A rising trend has a positive effect on the nation's currency. GDP is the broadest measure of economic activity and considered to be the primary gauge of an economy's health. To foreign investors, a strong economy is viewed favorably because it spurs investment opportunities in the domestic stock and bond markets. A strong economy also persuades the central bank to raise interest rates in an attempt to control growth. All of this activity will increase demand for the nation's currency.

Measures overall economic activity through a qualitative business survey about developments in the recent past, the current situation and expectations for the next three to six months. Survey questions relate to production, orders and stocks of finished goods. The Swiss Institute for Business Cycle Research (KOF) publishes this indicator monthly.

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.

The monthly data is volatile. The underlying capital spending data will be important.

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.

The existing home sales data was slightly higher than expected.

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

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 Governor Randall Kroszner will speak at the Forecasters Club of New York luncheon, in New York. Audience questions expected.

Measures the annual change in sales value and volume of Japan's largest retailers.

Measures the annual change in total value of sales at the retail level. A rising trend has a positive effect on the nation's currency. Consumer spending makes up a large portion of GDP, and Retail Sales makes up one-third of consumer spending. This indicator is usually the first of the month that relates to consumer behavior, making it susceptible to big surprises.

Kansas City Federal Reserve President Thomas Hoenig will speak about monetary policy, in Lincoln Nebraska. Audience questions expected.

Measures the annual change in currency outstanding. Higher levels of currency are viewed as deflationary and can have a devaluing effect on the currency.

Small Business Confidence measures the mood of Japanese small businesses. Higher indicator readings point to higher optimism. When small businesses are optimistic, they tend to spend more, therefore strengthening the country's currency.

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

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 attention will surround the GDP deflator.

Gross Domestic Product (GDP) measures the total value of all goods and services produced by the economy. A rising trend has a positive effect on the nation's currency. GDP is the broadest measure of economic activity and considered to be the primary gauge of an economy's health. To foreign investors, a strong economy is viewed favorably because it spurs investment opportunities in the domestic stock and bond markets. A strong economy also persuades the central bank to raise interest rates in an attempt to control growth. All of this activity will increase demand for the nation's currency.

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.

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

Philadelphia Federal Reserve President Charles Plosser will speak at a Fed seminar for journalists, in Philadelphia.

The Gross Domestic Product (GDP) Deflator measures the annualized quarterly implied rate of inflation for all economic activity. The deflator is used to calculate the difference between nominal and real GDP. The Federal Reserve takes special note of this indicator because it is the economy's broadest measure of inflation.

Measures the mood of businesses in regard to economic expectations. It's derived from a monthly survey of 1,500 businesses conducted by the National Bank of New Zealand.

Measures the number of new construction intentions. This data is a leading indicator for the construction industry since the issuance of a building permit is one of the first steps in the construction process.

Gross Domestic Product (GDP) measures the total value of all goods and services produced by the economy. A rising trend has a positive effect on the nation's currency. GDP is the broadest measure of economic activity and considered to be the primary gauge of an economy's health. To foreign investors, a strong economy is viewed favorably because it spurs investment opportunities in the domestic stock and bond markets. A strong economy also persuades the central bank to raise interest rates in an attempt to control growth. All of this activity will increase demand for the nation's currency.

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. Consumer spending makes up two thirds of GDP and therefore a rising trend generally strengthens a country's currency.

The Consumer Price Index (CPI) measures the rate of inflation experienced by consumers. A rising trend has a positive effect on the nation's currency. The primary objective of the central bank is to achieve price stability; when inflation rises above an annualized rate of approximately 2%, they will respond by raising interest rates to bring prices down. Higher interest rates attract foreign investment, thus increasing demand for the nation's currency. CPI is one of the most closely watched indicators and will usually have a high impact upon release.

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. 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.

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.

Another monthly decline would be a serious setback for the yen.

Measures the total value of output produced by factories, mines, and utilities. A rising trend has a positive effect on the nation's currency because high levels of production are a sign of a strong economy. Industrial Production reacts quickly to the ups and downs of the business cycle and can predict manufacturing employment, average earnings, and personal income.

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

Measures the total value of sales at the retail level. A rising trend has a positive effect on the nation's currency. Consumer spending makes up a large portion of GDP, and Retail Sales makes up one-third of consumer spending. This indicator is usually the first of the month that relates to consumer behavior, making it susceptible to big surprises.

The British Bankers' Association (BBA) Mortgage Approvals measures the number of mortgage approvals for home purchases in the previous month. A higher number of approvals points to a healthy housing market. The housing market is a key influence on consumer spending in Britain, where two thirds of households own their own home.

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.

The Consumer Price Index (CPI) measures the rate of inflation experienced by consumers. A rising trend has a positive effect on the nation's currency. The primary objective of the central bank is to achieve price stability; when inflation rises above an annualized rate of approximately 2%, they will respond by raising interest rates to bring prices down. Higher interest rates attract foreign investment, thus increasing demand for the nation's currency. CPI is one of the most closely watched indicators and will usually have a high impact upon release.

Measures the mood of consumers in regard to economic conditions. The reading is derived from a monthly survey that asks respondents to evaluate the prospects for the economy in the future. GfK, a leading German market research company, publishes this indicator monthly. Higher readings point to higher consumer optimism. When consumers are optimistic they tend to purchase more goods and services, which stimulates the economy.

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.