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Economic calendar

4 January 2010, Monday

	Currency	Value	Event	Prev.	Forecast	Real
01:30	-	average	HSBC Manufacturing PMI	55.7		56.1
Measures: Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, on the first business day after the month ends; Next Release: Feb 1, 2010 FF Notes: Above 50.0 indicates industry expansion, below indicates contraction. Tends to have more impact when it's released ahead of the government's Manufacturing PMI because the reports are tightly correlated; Why Traders Care: It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy; Derived Via: Survey of about 400 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories; Acro Expand: The Hongkong and Shanghai Banking Corporation (HSBC), Purchasing Managers' Index (PMI);
04:30	AUD	average	Commodity Prices y/y	-24.4%		-16.6%
Measures: Change in the selling price of exported commodities; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, on the first business day after the month ends; Next Release: Feb 2, 2010 FF Notes: Commodities account for over half of Australia's export earnings. Source changed series calculation formula as of Nov 2009; Why Traders Care: It's a leading indicator of the nation's trade balance with other countries because rising commodity prices boost export income; Derived Via: The average selling price of the nation's main commodity exports are sampled and then compared to the previous sampling; Also Called: Index of Commodity Prices;
07:30	CHF	average	SVME PMI	56.9	57.1	54.6
Measures: Level of a diffusion index based on surveyed purchasing managers; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, on the first or second business day after the month ends; Next Release: Feb 1, 2010 FF Notes: Above 50.0 indicates industry expansion, below indicates contraction; Why Traders Care: It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy; Derived Via: Survey of about 200 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories; Acro Expand: Schweizerischer Verband fur Materialwirtschaft und Einkauf (SVME), Purchasing Managers' Index (PMI);
08:00	EUR	low	Final Manufacturing PMI	51.6	51.6	51.6
Measures: Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, on the first business day after the month ends; Next Release: Feb 1, 2010 FF Notes: Data is given to Thomson Reuters subscribers 2 minutes before the public release time listed on the calendar - early market reaction is usually a result of trades made by these subscribers. Above 50.0 indicates industry expansion, below indicates contraction. The 'Previous' listed is the 'Actual' from the Flash release and therefore the 'History' data will appear unconnected. There are 2 versions of this report released about a week apart – Flash and Final. The Flash release, which the source first reported in Jun 2007, is the earliest and thus tends to have the most impact. Full reports are only available to journalists registered with Markit; Why Traders Care: It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy; Derived Via: Survey of about 600 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories; Acro Expand: Purchasing Managers' Index (PMI);
08:30	GBP	average	Net Lending to Individuals m/m	0.5B	0.6B	1.1B
Measures: Change in the total value of new credit issued to consumers; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 30 days after the month ends; Next Release: Feb 1, 2010 Why Traders Care: It's correlated with consumer spending and confidence - rising debt levels are a sign that lenders feel comfortable issuing loans, and that consumers are confident in their financial position and eager to spend money;
08:30	GBP	low	Mortgage Approvals	58K	58K	61K
Measures: Number of new mortgages approved for home purchases during the previous month; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 30 days after the month ends; Next Release: Feb 1, 2010 FF Notes: Tends to have a muted impact because about 60% of all mortgages are covered by the BBA Mortgage Approvals data released a few days earlier; Why Traders Care: It's a leading indicator of housing market demand – most home purchases are financed with a mortgage, so it provides an excellent gauge of how many qualified buyers are entering the market; Also Called: Approvals Secured on Dwellings;
08:30	-	common/calendar/impacts/	Manufacturing PMI
Measures: Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, on the first business day after the month ends; Next Release: Feb 1, 2010 FF Notes: Data is given to Thomson Reuters subscribers 2 minutes before the public release time listed on the calendar - early market reaction is usually a result of trades made by these subscribers. Above 50.0 indicates industry expansion, below indicates contraction. Full reports are only available via subscription; Why Traders Care: It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy; Derived Via: Survey of about 600 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories; Acro Expand: Purchasing Managers' Index (PMI);
08:30	EUR	low	Sentix Investor Confidence	-5.5	-3.4	-3.7
Measures: Level of a diffusion index based on surveyed investors and analysts; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, on the first or second Monday of the current month; Next Release: Feb 8, 2010 FF Notes: Above 0.0 indicates optimism, below indicates pessimism. Source first released in Mar 2006; Why Traders Care: It's a leading indicator of economic health - investors and analysts are highly informed by virtue of their job, and changes in their sentiment can be an early signal of future economic activity; Derived Via: Survey of about 2,800 investors and analysts which asks respondents to rate the relative 6-month economic outlook for the Eurozone;
09:00	EUR	low	Italian Prelim CPI m/m	0.1%	0.1%	0.2%
Measures: Change in the price of goods and services purchased by consumers; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, around the end of the current month; Next Release: Jan 29, 2010 FF Notes: There are 2 versions of CPI released about 25 days apart - Preliminary and Final. The Preliminary release is extremely early but has a muted impact due to Italy's relatively small impact on the Eurozone. The Final is not included for lack of significance; Acro Expand: Consumer Price Index (CPI);
14:00	USD	low	ISM Manufacturing Prices	55.0	57.7	61.5
Measures: Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, on the first business day after the month ends; Next Release: Feb 1, 2010 FF Notes: This is a component of PMI but reported separately as an inflation gauge. Above 50.0 indicates rising prices, below indicates falling prices; Why Traders Care: It's a leading indicator of consumer inflation - when businesses pay more for goods and services the higher costs are usually passed on to the consumer; Derived Via: Survey of about 400 purchasing managers which asks respondents to rate the relative level of prices paid for goods and services; Also Called: Manufacturing Prices Paid; Acro Expand: The Institute for Supply Management (ISM), Purchasing Managers' Index (PMI);
14:00	-	common/calendar/impacts/	Construction Spending m/m
Measures: Change in the total amount builders spent on construction projects; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 30 days after the month ends; Next Release: Feb 1, 2010
14:00	USD	high	ISM Manufacturing PMI	53.6	54.1	55.9
Measures: Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, on the first business day after the month ends; Next Release: Feb 1, 2010 FF Notes: Above 50.0 indicates industry expansion, below indicates contraction; Why Traders Care: It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy; Derived Via: Survey of about 400 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories; Also Called: Manufacturing ISM Report On Business; Acro Expand: The Institute for Supply Management (ISM), Purchasing Managers' Index (PMI);
17:00	USD	low
Speaker: Federal Reserve Governor Elizabeth Duke; Description: Due to speak about economic outlook at the North Carolina Bankers Association and the Chamber of Economic Forecast Forum, in Raleigh; Usual Effect: More hawkish than expected = Good for currency; FF Notes: FOMC voting member Aug 2008 - Jan 2012; Why Traders Care: Federal Reserve FOMC members vote on where to set the nation's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy; Acro Expand: Federal Open Market Committee (FOMC);
22:50	JPY	low	Monetary Base y/y
Measures: Change in the total quantity of domestic currency in circulation and current account deposits held at the BOJ; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, on the second business day after the month ends; Next Release: Feb 1, 2010 Why Traders Care: It's positively correlated with interest rates - early in the economic cycle an increasing supply of money leads to additional spending and investment, and later in the cycle expanding money supply leads to inflation; Acro Expand: Bank of Japan (BOJ);

5 January 2010, Tuesday

	Currency	Value	Event	Prev.	Forecast	Real
23:01	AUD	average		-6.0%		0.3%
Measures: Change in the number of newly constructed homes sold; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 30 days after the month ends; Next Release: Feb 1, 2010 FF Notes: Source does not give an exact release time - this event will be listed as 'Tentative' until the data is released; Why Traders Care: It's a leading indicator of economic health because the sale of a new home triggers a wide-reaching ripple effect. For example, furniture and appliances are purchased for the home, a mortgage is sold by the financing bank, and brokers are paid to execute the transaction; Acro Expand: Housing Industry Association (HIA);
07:55	EUR	average	German Unemployment Change	-1K	6K	-3K
Measures: Change in the number of unemployed people during the previous month; Usual Effect: Actual < Forecast = Good for currency; Frequency: Released monthly, about 30 days after the month ends; Next Release: Jan 28, 2010 FF Notes: Data is prone to early leaks by news agencies. Leaks will be reported on the calendar but will be retracted if deemed incorrect; Why Traders Care: Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor conditions; Also Called: Jobless People;
08:30	GBP	average	Construction PMI	47.0	47.6	47.1
Measures: Level of a diffusion index based on surveyed purchasing managers in the construction industry; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, on the second business day after the month ends; Next Release: Feb 2, 2010 FF Notes: Above 50.0 indicates industry expansion, below indicates contraction. Full reports are only available via subscription; Why Traders Care: It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy; Derived Via: Survey of about 170 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories; Acro Expand: Purchasing Managers' Index (PMI);
09:00	EUR	average	CPI Flash Estimate y/y	0.5%	0.9%	0.9%
Measures: Change in the price of goods and services purchased by consumers; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, on the last business day of the current month; Next Release: Jan 29, 2010 FF Notes: Eurostat bases this estimate on energy prices and EU member states that report early CPI data. While the report is narrow and void of line items, it's extremely early and can impact the market; Why Traders Care: Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate; Acro Expand: Consumer Price Index (CPI);
12:00	USD	average
Speaker: ederal Reserve Bank of Kansas President Thomas Hoenig; Description: Due to participate in a panel discussion titled "Ending Government Bailouts as we know them" at the American Economic Association Annual Meeting, in Atlanta; Usual Effect: More hawkish than expected = Good for currency; Next Release: Jan 7, 2010 FF Notes: 2010 FOMC voting member; Why Traders Care: Federal Reserve FOMC members vote on where to set the nation's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy; Acro Expand: Federal Open Market Committee (FOMC);
12:30	CAD	average	RMPI m/m	2.5%	1.2%	2.2%
Measures: Change in the price of raw materials purchased by manufacturers; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 30 days after the month ends; Next Release: Jan 29, 2010 Why Traders Care: It's a leading indicator of consumer inflation - when manufacturers pay more for goods the higher costs are usually passed on to the consumer; Acro Expand: Raw Materials Price Index (RMPI);
12:30	CAD	low	IPPI m/m	-0.3%	0.5%	1.0%
Measures: Change in the price of goods sold by manufacturers; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 30 days after the month ends; Next Release: Jan 29, 2010 FF Notes: Only includes goods produced domestically; Also Called: Factory Gate Prices, Producer Prices; Acro Expand: Industrial Product Price Index (IPPI);
14:00	USD	high	Pending Home Sales m/m	3.9%	-2.3%	-16.0%
Measures: Change in the number of homes under contract to be sold but still awaiting the closing transaction, excluding new construction; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 35 days after the month ends; Next Release: Feb 2, 2010 FF Notes: This data is released about 15 days later than Existing Home Sales, but it's more forward-looking as a contract is signed several weeks before the home is counted as sold. Source first released in Mar 2005; Why Traders Care: It's a leading indicator of economic health because the sale of a home triggers a wide-reaching ripple effect. For example, renovations are done by the new owners, a mortgage is sold by the financing bank, and brokers are paid to execute the transaction; Also Called: Pending Resales;
14:00	USD	average	Factory Orders m/m	0.8%	0.5%	1.1%
Measures: Change in the total value of new purchase orders placed with manufacturers; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 35 days after the month ends; Next Release: Feb 4, 2010 FF Notes: This report contains a revision of the Durable Goods Orders data released about a week earlier, and fresh data regarding non-durable goods; Why Traders Care: It's a leading indicator of production - rising purchase orders signal that manufacturers will increase activity as they work to fill the orders;
21:30	AUD	average	AIG Services Index	52.5		50.0
Measures: Level of a diffusion index based on surveyed service-based companies; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, on the third business day after the month ends; Next Release: Feb 3, 2010 FF Notes: Above 50.0 indicates industry expansion, below indicates contraction; Derived Via: Survey of about 200 service-based companies which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories; Also Called: Performance of Services Index; Acro Expand: Australian Industry Group (AIG);

6 January 2010, Wednesday

	Currency	Value	Event	Prev.	Forecast	Real
23:01	-	common/calendar/impacts/	Nationwide Consumer Confidence
Measures: Level of a composite index based on surveyed consumers; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 5 days after the month ends; Next Release: Feb 10, 2010 FF Notes: This data is usually released 36 hours before the Bank of England interest rate decision. Source first released in Aug 2005 and changed series from non-seasonally adjusted to seasonally adjusted as of Jul 2008; Why Traders Care: Financial confidence is a leading indicator of consumer spending, which accounts for a majority of overall economic activity; Derived Via: Survey of about 1,000 consumers which asks respondents to rate the relative level of current and future economic conditions;
23:01	GBP	low	BRC Shop Price Index y/y	0.2%		2.2%
Measures: Change in the price of goods purchased at BRC-member retail stores; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 5 days after the month ends; Next Release: Feb 10, 2010 FF Notes: Leads the government-released consumer inflation data by about 10 days, but has a narrower scope as it only includes goods purchased from retailers who belong to the BRC. This data is usually released 1 day before the Bank of England interest rate decision; Acro Expand: British Retail Consortium (BRC);
23:30	AUD	high	Building Approvals m/m	-1.8%	3.1%	5.9%
Measures: Change in the number of new building approvals issued; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 35 days after the month ends; Next Release: Feb 4, 2010 Why Traders Care: It's an excellent gauge of future construction activity because obtaining government approval is among the first steps in constructing a new building. Construction is important because it produces a wide-reaching ripple effect - for example, jobs are created for the construction workers, subcontractors and inspectors are hired, and various services are purchased by the builder;
08:00	EUR	low	Final Services PMI	53.7	53.7	53.6
Measures: Level of a diffusion index based on surveyed purchasing managers in the services industry; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, on the third business day after the month ends; Next Release: Feb 3, 2010 FF Notes: Data is given to Thomson Reuters subscribers 2 minutes before the public release time listed on the calendar - early market reaction is usually a result of trades made by these subscribers. Above 50.0 indicates industry expansion, below indicates contraction. The 'Previous' listed is the 'Actual' from the Flash release and therefore the 'History' data will appear unconnected. There are 2 versions of this report released about a week apart – Flash and Final. The Flash release, which the source first reported in Jun 2007, is the earliest and thus tends to have the most impact. Full reports are only available to journalists registered with Markit; Derived Via: Survey of about 600 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories; Acro Expand: Purchasing Managers' Index (PMI);
08:30	GBP	high	Services PMI	56.6	56.7	56.8
Measures: Level of a diffusion index based on surveyed purchasing managers in the services industry; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, on the third business day after the month ends; Next Release: Feb 3, 2010 FF Notes: Data is given to Thomson Reuters subscribers 2 minutes before the public release time listed on the calendar - early market reaction is usually a result of trades made by these subscribers. Above 50.0 indicates industry expansion, below indicates contraction. Full reports are only available via subscription; Why Traders Care: It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy; Derived Via: Survey of purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories; Acro Expand: Purchasing Managers' Index (PMI);
09:00	EUR	low	PPI m/m
Measures: Change in the price of finished goods and services sold by producers; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 35 days after the month ends; Next Release: Feb 2, 2010 FF Notes: Tends to have a muted impact because Germany and France, which account for about half of the Eurozone's economy, release their PPI earlier; Also Called: Industrial Producer Prices; Acro Expand: Producer Price Index (PPI);
11:30	USD	low	Challenger Job Cuts y/y	-72.3%		-72.9%
Measures: Change in the number of job cuts announced by employers; Usual Effect: Actual < Forecast = Good for currency; Frequency: Released monthly, about 3 days after the month ends; Next Release: Feb 3, 2010 FF Notes: It's extremely early data, but historically has limited short-term correlation with overall labor conditions; Also Called: Job Cut Announcements;
12:15	USD	high	ADP Non-Farm Employment Change
Measures: Estimated change in the number of employed people during the previous month, excluding the farming industry and government; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly; Next Release: Feb 3, 2010 FF Notes: Leads the government-released employment data by 2 days, and has slowly demonstrated its predictive qualities since its May 2006 debut. Source changed the calculation methodology in Feb 2007 and Dec 2008 to better align with the government’s data; Why Traders Care: Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity; Derived Via: ADP provides payroll services to many corporations in the US. They use the data collected from their customers to derive the overall employment estimations; Acro Expand: Automatic Data Processing, Inc. (ADP);
14:00	USD	high	ISM Non-Manufacturing PMI	48.7	50.5	50.1
Measures: Level of a diffusion index based on surveyed purchasing managers, excluding the manufacturing industry; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, on the third business day after the month ends; Next Release: Feb 3, 2010 FF Notes: Above 50.0 indicates industry expansion, below indicates contraction. Source changed series from unadjusted to seasonally adjusted as of January 2001. Source changed series calculation formula as of Feb 2008; Why Traders Care: It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy; Derived Via: Survey of about 400 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories; Also Called: Services PMI, Non-Manufacturing ISM Report On Business; Acro Expand: The Institute for Supply Management (ISM), Purchasing Managers' Index (PMI);
14:30	USD	average	Crude Oil Inventories	-1.5M	-0.4M	1.3M
Measures: Change in the number of barrels of crude oil held in inventory by commercial firms during the past week; Usual Effect: No consistent effect - there are both inflationary and growth implications; Frequency: Released weekly, 4 days after the week ends; Next Release: Jan 13, 2010 FF Notes: While this is a US indicator, it most affects the loonie due to Canada's sizable energy sector; Why Traders Care: It influences the price of petroleum products which affects inflation, but also impacts growth as many industries rely on oil to produce goods; Also Called: Crude Stocks, Crude Levels; Acro Expand: Energy Information Administration (EIA);
18:00	USD	high
Usual Effect: More hawkish than expected = Good for currency; Frequency: Scheduled 8 times per year, 3 weeks after the Federal Funds Rate is announced; Next Release: Feb 17, 2010 Why Traders Care: It's a detailed record of the FOMC's most recent meeting, providing in-depth insights into the economic conditions that influenced their vote on where to set interest rates; Acro Expand: Federal Open Market Committee (FOMC);
20:45	NZD	average	Trade Balance	-495M	-397M	-269M
Measures: Difference in value between imported and exported goods during the reported month; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 27 days after the month ends; Next Release: Jan 29, 2010 FF Notes: A positive number indicates that more goods were exported than imported; Why Traders Care: Export demand and currency demand are directly linked because foreigners must buy the domestic currency to pay for the nation's exports. Export demand also impacts production and prices at domestic manufacturers; Also Called: Overseas Merchandise Trade;

7 January 2010, Thursday

	Currency	Value	Event	Prev.	Forecast	Real
23:30	AUD	high	Trade Balance	-2.08B	-1.79B	-1.70B
Measures: Difference in value between imported and exported goods and services during the reported month; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 35 days after the month ends; Next Release: Feb 3, 2010 FF Notes: A positive number indicates that more goods and services were exported than imported; Why Traders Care: Export demand and currency demand are directly linked because foreigners must buy the domestic currency to pay for the nation's exports. Export demand also impacts production and prices at domestic manufacturers; Also Called: International Trade in Goods and Services;
23:30	AUD	high	Retail Sales m/m	0.4%	0.4%	1.4%
Measures: Change in the total value of sales at the retail level; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 30 days after the month ends; Next Release: Feb 4, 2010 FF Notes: This is the earliest look at vital consumer spending data; Why Traders Care: It's the primary gauge of consumer spending, which accounts for a majority of overall economic activity;
05:00	USD	average
Speaker: Federal Reserve Bank of St Louis President James Bullard; Description: Due to speak at the Jiao Tong University Forum, in Shanghai; Usual Effect: More hawkish than expected = Good for currency; Next Release: Jan 8, 2010 FF Notes: 2010 FOMC voting member; Why Traders Care: Federal Reserve FOMC members vote on where to set the nation's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy; Acro Expand: Federal Open Market Committee (FOMC);
07:15	CHF	average	CPI m/m	0.2%	0.1%	-0.2%
Measures: Change in the price of goods and services purchased by consumers; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 4 days after the month ends; Next Release: Feb 4, 2010 FF Notes: This is the earliest major inflation data released by any country, coming just days after the month ends. The impact tends to be significant but varies from month to month due to volatility in the data set; Why Traders Care: Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate; Derived Via: The average price of various goods and services are sampled and then compared to the previous sampling; Acro Expand: Consumer Price Index (CPI);
08:00	GBP	high		1.3%	0.6%	1.0%
Measures: Change in the price of homes financed by HBOS; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 5 days after the month ends; Next Release: Feb 1, 2010 FF Notes: The exact release date is usually not announced by HBOS until shortly before it's released. There are 2 earlier reports on housing inflation, but this data is broad and based on HBOS's internal mortgage approval figures, which can lead sale-completion indicators by more than a month; Why Traders Care: It's a leading indicator of the housing industry's health because rising house prices attract investors and spur industry activity; Also Called: HBOS HPI; Acro Expand: House Price Index (HPI), Halifax Bank of Scotland (HBOS);
09:00	EUR	average	Retail Sales m/m
Measures: Change in the total value of inflation-adjusted sales at the retail level; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 35 days after the month ends; Next Release: Feb 3, 2010 FF Notes: Tends to have a relatively muted impact because Germany and France, which account for about half of the Eurozone's economy, release earlier consumer spending data; Why Traders Care: It's the primary gauge of consumer spending, which accounts for a majority of overall economic activity;
09:00	EUR	low	Consumer Confidence	-17	-16	-16
Measures: Level of a diffusion index based on surveyed consumers; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 30 days after the month ends; Next Release: Jan 28, 2010 FF Notes: Above 0 indicates optimism, below indicates pessimism; Why Traders Care: Financial confidence is a leading indicator of consumer spending, which accounts for a majority of overall economic activity; Derived Via: Survey of about 2,300 consumers in Eurozone countries which asks respondents to rate the relative level of past and future economic conditions, including personal financial situation, employment, inflation, and climate for major purchases;
10:00	EUR	average	German Factory Orders m/m	-1.9%	1.6%	0.2%
Measures: Change in the total value of new purchase orders placed with manufacturers; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 35 days after the month ends; Next Release: Feb 4, 2010 Why Traders Care: It's a leading indicator of production - rising purchase orders signal that manufacturers will increase activity as they work to fill the orders; Also Called: Industrial Orders, Manufacturing Orders;
11:00	GBP	high	Official Bank Rate	0.50%	0.50%	0.50%
Measures: Interest rate at which banks lend balances held at the BOE to other banks; Usual Effect: Actual > Forecast = Good for currency; Frequency: Scheduled monthly; Next Release: Feb 4, 2010 FF Notes: When there is a change in rates the MPC will also issue a statement. The rate decision is often priced in the market so it tends to be overshadowed by the MPC Statement which is focused on the future; Why Traders Care: Short term interest rates are the paramount factor in currency valuation - traders look at most other indicators merely to predict how rates will change in the future; Derived Via: MPC members vote on where to set the rate. The individual votes are published 2 weeks later in the MPC Meeting Minutes; Also Called: Interest Rates; Acro Expand: Bank of England (BOE), Monetary Policy Committee (MPC);
11:00	GBP	high
Usual Effect: More hawkish than expected = Good for currency; Next Release: Feb 4, 2010 FF Notes: Listed as a 'Tentative' event because the statement is usually only issued if the Official Bank Rate changes (except under extreme conditions). If the statement is not issued this event will be removed from the calendar immediately following the rate release. If issued, the Tentative mark will be discarded; Why Traders Care: It's among the primary tools the MPC uses to communicate with investors about monetary policy. It contains the outcome of their vote on interest rates and other policy measures, along with commentary about the economic conditions that influenced their votes. Most importantly, it discusses the economic outlook and offers clues on the outcome of future votes; Also Called: Interest Rate Statement; Acro Expand: Monetary Policy Committee (MPC);
11:00	GBP	common/calendar/impacts/	Asset Purchase Facility	200B	200B	200B
Measures: Total value of money the BOE will create and use to purchase assets in the open market; Usual Effect: Actual < Forecast = Good for currency; Frequency: Scheduled monthly; Next Release: Feb 4, 2010 FF Notes: Source began this temporary program in Mar 2009, in response to the financial crisis; Why Traders Care: It increases demand for bonds which tends to lower long-term interest rates; Derived Via: MPC members vote on the total amount of money to create for the program. The individual votes are published 2 weeks later in the MPC Meeting Minutes; Also Called: Quantitative Easing Programme, Money Printing Programme; Acro Expand: Bank of England (BOE), Monetary Policy Committee (MPC);
12:30	USD	high	Unemployment Claims	432K	449K
Measures: The number of individuals who filed for unemployment insurance for the first time during the past week; Usual Effect: Actual < Forecast = Good for currency; Frequency: Released weekly, 5 days after the week ends; Next Release: Jan 14, 2010 FF Notes: This is the nation's earliest economic data. The market impact fluctuates from week to week - there tends to be more focus on the release when traders need to diagnose recent developments, or when the reading is at extremes; Why Traders Care: Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor conditions; Also Called: Jobless Claims, Initial Claims;
14:00	CAD	high	Ivey PMI
Measures: Level of a diffusion index based on surveyed purchasing managers; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 5 days after the month ends; Next Release: Feb 5, 2010 FF Notes: Above 50.0 indicates industry expansion, below indicates contraction. This data series is not seasonally adjusted which increases deviations from month to month. Source first released in Dec 2000; Why Traders Care: It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy; Derived Via: Survey of about 175 purchasing managers, selected geographically and by sector of activity to match the economy as a whole, which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories; Acro Expand: Purchasing Managers' Index (PMI);
14:30	USD	low	Natural Gas Storage	-124B	-147B
Measures: Change in the number of cubic feet of natural gas held in underground storage during the past week; Usual Effect: No consistent effect - there are both inflationary and growth implications; Frequency: Released weekly, 5 days after the week ends; Next Release: Jan 14, 2010 FF Notes: While this is a US indicator, it most affects the loonie due to Canada's sizable energy sector; Also Called: Nat Gas Stocks, Nat Gas Inventories; Acro Expand: Energy Information Administration (EIA);
17:00	USD	average
Speaker: ederal Reserve Bank of Kansas President Thomas Hoenig; Description: Due to speak about economic outlook at the Central Exchange, in Kansas City. Audience questions expected; Usual Effect: More hawkish than expected = Good for currency; FF Notes: 2010 FOMC voting member; Why Traders Care: Federal Reserve FOMC members vote on where to set the nation's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy; Acro Expand: Federal Open Market Committee (FOMC);
21:30	AUD	low	AIG Construction Index	47.6
Measures: Level of a diffusion index based on surveyed construction companies; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, on the fifth business day after the month ends; Next Release: Feb 5, 2010 FF Notes: Above 50.0 indicates industry expansion, below indicates contraction; Derived Via: Survey of about 120 construction companies which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories; Also Called: Performance of Construction Index; Acro Expand: Australian Industry Group (AIG);

8 January 2010, Friday

	Currency	Value	Event	Prev.	Forecast	Real
04:00	JPY	low	Leading Indicators	89.4%	91.4%
Measures: Level of a composite index based on 12 economic indicators; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 35 days after the month ends; Next Release: Feb 5, 2010 FF Notes: This index is designed to predict the direction of the economy, but it tends to have a muted impact because most of the indicators used in the calculation are released previously. There's a revised version of this indicator released about 10 days later, but it's not included for lack of significance. Source changed series from a diffusion index to a composite index as of Jun 2008; Derived Via: Combined reading of 12 economic indicators related to employment, production, new orders, consumer confidence, housing, stock prices, money supply, and interest rate spreads;
05:45	CHF	low	Unemployment Rate	4.1%	4.2%
Measures: Percentage of total work force that is unemployed and actively seeking employment during the previous month; Usual Effect: Actual < Forecast = Good for currency; Frequency: Released monthly, about 8 days after the month ends; Next Release: Feb 8, 2010 FF Notes: This is the seasonally adjusted data (as most FF numbers are), not to be confused with the non-seasonally adjusted number reported by some news agencies; Why Traders Care: Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor conditions; Also Called: Jobless Rate;
06:00	EUR	average	German Retail Sales m/m	0.0%	0.4%	-1.1%
Measures: Change in the total value of inflation-adjusted sales at the retail level, excluding automobiles and gas stations; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 30 days after the month ends; Next Release: Feb 4, 2010 Why Traders Care: It's the primary gauge of consumer spending, which accounts for a majority of overall economic activity; Also Called: Real Retail Sales;
06:00	EUR	low	German Trade Balance	12.9B	12.2B
Measures: Difference in value between imported and exported goods during the reported month; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 40 days after the month ends; Next Release: Feb 9, 2010 FF Notes: This is the seasonally adjusted data (as most FF numbers are), not to be confused with the non-seasonally adjusted number reported by some news agencies. A positive number indicates that more goods were exported than imported; Why Traders Care: Export demand and currency demand are directly linked because foreigners must buy the domestic currency to pay for the nation's exports. Export demand also impacts production and prices at domestic manufacturers; Also Called: Foreign Trade;
06:30	USD	average
Speaker: Federal Reserve Bank of St Louis President James Bullard; Description: Due to speak at the University of Finance and Economics, in Shanghai; Usual Effect: More hawkish than expected = Good for currency; Next Release: Jan 11, 2010 FF Notes: 2010 FOMC voting member; Why Traders Care: Federal Reserve FOMC members vote on where to set the nation's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy; Acro Expand: Federal Open Market Committee (FOMC);
06:45	EUR	low	French Trade Balance	-4.4B	-3.9B
Measures: Difference in value between imported and exported goods during the reported month; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 35 days after the month ends; Next Release: Feb 8, 2010 FF Notes: A positive number indicates that more goods were exported than imported; Why Traders Care: Export demand and currency demand are directly linked because foreigners must buy the domestic currency to pay for the nation's exports. Export demand also impacts production and prices at domestic manufacturers; Also Called: Foreign Trade;
08:30	GBP	low	PPI Output m/m	0.2%	0.2%
Measures: Change in the price of goods sold by manufacturers; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 10 days after the month ends; Next Release: Feb 12, 2010 FF Notes: Only includes goods produced domestically; Also Called: Factory Gate Prices; Acro Expand: Producer Price Index (PPI);
08:30	GBP	high	PPI Input m/m	0.1%	-0.2%
Measures: Change in the price of goods and raw materials purchased by manufacturers; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 10 days after the month ends; Next Release: Feb 12, 2010 FF Notes: This data has added importance because it's released ahead of CPI; Why Traders Care: It's a leading indicator of consumer inflation - when manufacturers pay more for goods the higher costs are usually passed on to the consumer; Acro Expand: Producer Price Index (PPI), Consumer Price Index (CPI);
09:00	EUR	low	Final GDP q/q	0.4%	0.4%
Measures: Change in the inflation-adjusted value of all goods and services produced by the economy; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released quarterly, about 100 days after the quarter ends; Next Release: Apr 7, 2010 FF Notes: The 'Previous' listed is the 'Actual' from the Revised release and therefore the 'History' data will appear unconnected. There are 3 versions of GDP released about a month apart - Flash, Revised, and Final. The Flash release is the earliest and thus tends to have the most impact; Acro Expand: Gross Domestic Product (GDP);
09:00	EUR	average	Unemployment Rate	9.8%	9.9%
Measures: Percentage of total work force that is unemployed and actively seeking employment during the previous month; Usual Effect: Actual < Forecast = Good for currency; Frequency: Released monthly, about 30 days after the month ends; Next Release: Jan 29, 2010 FF Notes: Tends to have a muted impact because there are several earlier indicators related to Eurozone labor conditions; Also Called: Jobless Rate, Eurozone Unemployment;
10:00	EUR	average	German Industrial Production m/m	-1.8%	1.1%
Measures: Change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 40 days after the month ends; Next Release: Feb 5, 2010 Why Traders Care: It's a leading indicator of economic health - production reacts quickly to ups and downs in the business cycle and is correlated with consumer conditions such as employment levels and earnings; Also Called: Industrial Output;
11:00	CAD	high	Unemployment Rate
Measures: Percentage of total work force that is unemployed and actively seeking employment during the previous month; Usual Effect: Actual < Forecast = Good for currency; Frequency: Released monthly, about 8 days after the month ends; Next Release: Feb 12, 2010 Why Traders Care: Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor conditions; Also Called: Jobless Rate;
11:00	CAD	high	Employment Change	79.1K	20.2K
Measures: Change in the number of employed people during the previous month; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 8 days after the month ends; Next Release: Feb 12, 2010 FF Notes: This is vital economic data released shortly after the month ends. The combination of importance and earliness makes for hefty market impacts; Why Traders Care: Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity;
12:30	USD	high	Non-Farm Employment Change	-11K	-3K
Measures: Change in the number of employed people during the previous month, excluding the farming industry; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, usually on the first Friday after the month ends; Next Release: Feb 5, 2010 FF Notes: This is vital economic data released shortly after the month ends. The combination of importance and earliness makes for hefty market impacts; Why Traders Care: Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity; Also Called: Non-Farm Payrolls, NFP, Employment Change;
12:30	USD	high	Unemployment Rate	10.0%	10.1%
Measures: Percentage of total work force that is unemployed and actively seeking employment during the previous month; Usual Effect: Actual < Forecast = Good for currency; Frequency: Released monthly, usually on the first Friday after the month ends; Next Release: Feb 5, 2010 Why Traders Care: Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor conditions; Also Called: Jobless Rate;
12:30	USD	average	Average Hourly Earnings m/m	0.1%	0.2%
Measures: Change in the price businesses pay for labor, excluding the farming industry; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, usually on the first Friday after the month ends; Next Release: Feb 5, 2010 FF Notes: This is the earliest data related to labor inflation; Why Traders Care: It's a leading indicator of consumer inflation - when businesses pay more for labor the higher costs are usually passed on to the consumer;
14:00	USD	low	Wholesale Inventories m/m	0.3%	-0.2%
Measures: Change in the total value of goods held in inventory by wholesalers; Usual Effect: Actual < Forecast = Good for currency; Frequency: Released monthly, about 40 days after the month ends; Next Release: Feb 9, 2010 Why Traders Care: It's a signal of future business spending because companies are more likely to purchase goods when they have depleted inventories;
14:15	USD	average
Speaker: Federal Reserve Bank of Boston President Eric Rosengren; Description: Due to speak about US economy at the Business and Industry Association's Annual Economic Summit, in Connecticut; Usual Effect: More hawkish than expected = Good for currency; FF Notes: 2010 FOMC voting member; Why Traders Care: Federal Reserve FOMC members vote on where to set the nation's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy; Acro Expand: Federal Open Market Committee (FOMC);
19:00	USD	low	Consumer Credit m/m	-3.5B	-4.9B
Measures: Change in the total value of outstanding consumer credit that requires installment payments; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 7 days after the month ends; Next Release: Feb 5, 2010 Why Traders Care: It's correlated with consumer spending and confidence - rising debt levels are a sign that lenders feel comfortable issuing loans, and that consumers are confident in their financial position and eager to spend money;

Economic calendar

4 January 2010, Monday

5 January 2010, Tuesday

6 January 2010, Wednesday

7 January 2010, Thursday

8 January 2010, Friday

Calendar

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Five Fabulous Years, Together.

	January 2010
Mon	Tue	Wed	Thu	Fri	Sat	Sun
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4	5	6	7	8	9	10
11	12	13	14	15	16	17
18	19	20	21	22	23	24
25	26	27	28	29	30	31

	January 2010
Mon	Tue	Wed	Thu	Fri	Sat	Sun
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4	5	6	7	8	9	10
11	12	13	14	15	16	17
18	19	20	21	22	23	24
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	January 2010
Mon	Tue	Wed	Thu	Fri	Sat	Sun
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4	5	6	7	8	9	10
11	12	13	14	15	16	17
18	19	20	21	22	23	24
25	26	27	28	29	30	31