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Economic calendar

19 April 2010, Monday

	Currency	Value	Event	Prev.	Forecast	Real
04:00	JPY	low	Consumer Confidence Households	39.8	40.2	40.9
The Consumer Confidence released by the Cabinet Office captures the level of confidence that house holds have in economic activity. A high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn. Normally, a result above 50 is positive (or bullish) for the JPY, whereas a result below 50 is seen as bearish.
04:00	JPY	low	Consumer Confidence	40		41
The Consumer Confidence released by the Cabinet Office captures the level of sentiment that individuals have in economic activity. A high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn. Normally, a result above 50 is positive (or bullish) for the JPY, whereas a result below 50 is seen as bearish.
08:00	EUR	low	Construction Output s.a (MoM)	-0.9%		-3.3%
The report released by the Eurostat is the output of the construction industry, in both the private and public sectors. It shows the strength of the construction industry, which, at the same time, hints at the investments made in this sector of the economy. Normally, a high reading is positive for the EUR, while a low reading is negative. A high reading is seen as positive (or bullish) for the EUR, while a low reading is seen as negative.
08:00	EUR	low	Construction Output w.d.a (YoY)	-10.6%		-15.2%
The report released by the Eurostat is the output of the construction industry, in both the private and public sectors. It shows the strength of the construction industry, which, at the same time, hints at the investments made in this sector of the economy. Normally, a high reading is positive for the EUR, while a low reading is negative.
11:30	CAD	average	Canadian Investment in Foreign Securities	$5.8B		-$3.9B
The Canadian investment in foreign securities released by the Statistics Canada shows the movements of outcoming investments (money market, stocks and bonds) from Canada. It also indicates the climate of Canadian investors into foreign securities. This event causes volatility in the CAD. Normally, an increasing number of investments is seen as positive prospect of the Canadian economy (or bullish sentiment for the CAD).
11:30	CAD	average	Foreign investment in Canadian securities	$11.8B	$7.29B	$6.718B
The International Securities released by the Statistics Canada shows the movements of incoming and outcoming investments (money market, stocks and bonds) from Canada. It also indicates the climate of foreign investors into Canadian securities and the CAD itself. This event causes volatility in the CAD. Generally, an increasing number of investments is seen as positive prospect of the Canadian economy (or bullish sentiment for the CAD).
12:00	USD	average	Fed's Bernanke Speech
The Fed Governor Ben Shalom Bernanke was born in 1953. He graduated from Harvard University and a Ph.D. in economics in 1979 from the Massachusetts Institute of Technology. In 2006 he became the Chairman of the Federal Reserve System. He gives a press conference as to how the Fed observes the current US economy and the value of USD. His comments may determine a short-term positive or negative trend.
13:00	USD	low	Leading Indicators (MoM)	0.1%	1%	1.4%
The Leading Indicators released by the Conference Board measures future trends of the overall economic activity including employment, average manufacturing workweek, initial claims, permits for new housing construction, stock prices and yield curve. It is considered as a measure for economic stability in United States. This event generates some volatility for the USD. Normally, a high reading is seen as positive (or bullish).
21:45	NZD	low	Food Price Index (MoM)	-1.3%		0.2%
The Food Price Index (FPI) released by the Statistics New Zealand measures price changes of food bought by households. New Zealand depends upon exporting agricultural goods and food products. Thus, high food prices relatively suggest an increase of trade interests. A high reading is seen as positive (or bullish) for the NZD, while a low reading is negative (or Bearish)
21:45	NZD	average	Consumer Price Index (QoQ)	-0.2%	0.6%	0.4%
Consumer Price Index released by the Statistics New Zealand is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services . The purchase power of NZD is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. A high reading is seen as positive (or bullish) for the NZD, while a low reading is seen as negative.
22:50	JPY	average	Tertiary Industry Index (MoM)	2.9%	-1%	-0.2%
Tertiary Industry Index released by the Ministry of Economy, Trade and Industry indicates the domestic service sector in Japan such as information and communication, electricity, gas heat and water,services, transport, wholesale and retail trade, finance and insurance ,and welfare. As the Japanese economy relies upon its exports, this event is expected to generate low volatility for the JPY. Generally, a high reading is positive (or bullish) for the JPY, while a low reading is negative (or bearish).

20 April 2010, Tuesday

	Currency	Value	Event	Prev.	Forecast	Real
00:30	AUD	high	RBA Meeting's Minutes
The minutes of the Reserve Bank of Australia meetings are published two weeks after the interest rate decision. The minutes give a full account of the policy discussion, including differences of view. They also record the votes of the individual members of the Committee. Generally speaking, if the RBA is hawkish about the inflationary outlook for the economy, then the markets see a higher possibility of a rate increase, and that is positive for the AUD.
05:00	EUR	average	Producer Price Index (MoM)		0.4%	0.7%
The Producer Price Index released by the Statistisches Bundesamt Deutschland measures the average changes in prices in the German primary markets. Changes in the PPI are widely followed as an indicator of commodity inflation. Generally speaking, a high reading is seen as positive (or bullish) for the EUR, whereas a low reading is seen as negative (or bearish).
05:00	JPY	low	Machine Tool Orders (YoY)	262.1%		262.2%
The Machine Tool Orders released by the Japan Machine Tool Builders' Association shows movements in tool orders by manufacturers. It indicates business conditions and the overall economic condition in Japan. Generally speaking, if a large number of tool orders come out, this may generate a positive sentiment (or bullish) for the JPY, on the other hand, a small number is seen as negative (or bearish).
05:00	EUR	average	Producer Price Index (YoY)	-2.9%	-1.8%	-1.5%
The Producer Price Index released by the Statistisches Bundesamt Deutschland measures the average changes in prices in the German primary markets. Changes in the PPI are widely followed as an indicator of commodity inflation. Generally speaking, a high reading is seen as positive (or bullish) for the EUR, whereas a low reading is seen as negative (or bearish).
07:00	EUR	low	Current Account s.a	-€1.7	-€5.3	-€3.9
The Current Account released by European Central Bank is a net flow of current transactions, including goods, services, and interest payments into and out of the Euro-Zone. A current account surplus indicates that the flow of capital into the Euro-Zone exceeds the capital reduction. Generally speaking, a high reading is seen as positive (or bullish) for the EUR, whereas a low reading is seen as negative (or bearish).
07:00	EUR	low	Current Account n.s.a	-€14.		-€5.2
The Current Account released by the European Central Bank is a net flow of current transactions, including goods, services, and interest payments into and out of the Euro-Zone. A current account surplus indicates that the flow of capital into the Euro-Zone exceeds the capital reduction. Generally speaking, a high reading is seen as positive (or bullish) for the EUR, whereas a low reading is seen as negative (or bearish).
07:30	GBP	average	Consumer Price Index (MoM)	0.4%	0.3%	0.6%
The Consumer Price Index released by the National Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. The purchase power of GBP is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends.Generally, a high reading is seen as positive (or bullish) for the GBP, while a low reading is seen as negative (or Bearish).
07:30	GBP	high	Consumer Price Index (YoY)	3%	3.2%	3.4%
The Consumer Price Index released by the National Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. The purchase power of GBP is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. Generally, a high reading is seen as positive (or bullish) for the GBP, while a low reading is seen as negative (or Bearish).
07:30	GBP	high	Core Consumer Price Index (YoY)	2.9%	2.8%	3%
The Core Consumer Price Index released by the National Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. "Core" excludes seasonally volatile products such as food and energy in order to capture an accurate calculation. The CPI is a key indicator to measure inflation and changes in purchasing trends. Generally, a high reading is seen as positive (or bullish) for the GBP, while a low reading is seen as negative (or Bearish).
07:30	GBP	low	Retail Price Index (MoM)	0.6%	0.4%	0.7%
Retail Price Index released by the National Statistics is a statistical measure of a weighted average of prices of a specified set of goods and services purchased by consumers. It is widely considered as a key measure of inflation that indicates an accurate reflection of the cost of living. Normally, a high reading is seen as positive (or bullish) for the GBP, whereas a low reading is seen as negative (or bearish).
07:30	GBP	low	Retail Price Index (YoY)	3.7%	4.1%	4.4%
Retail Price Index released by the National Statistics is a statistical measure of a weighted average of prices of a specified set of goods and services purchased by consumers. It is widely considered as a key measure of inflation that indicates an accurate reflection of the cost of living. Normally, a high reading is seen as positive (or bullish) for the GBP, whereas a low reading is seen as negative (or bearish).
08:00	EUR	average	ZEW Survey - Current Situation	-51.9	-46.8	-32.9
The Economic Sentiment published by the Zentrum für Europäische Wirtschaftsforschung measures the institutional investor sentiment, reflecting the difference between the share of investors that are optimistic and the share of analysts that are pessimistic. Generally speaking, an optimistic view is considered as positive (or bullish) for the EUR, whereas a pessimistic view is considered as negative (or bearish).
08:00	EUR	high	ZEW Survey - Economic Sentiment	44.5	45.2	53
The Economic Sentiment published by the Zentrum für Europäische Wirtschaftsforschung measures the institutional investor sentiment, reflecting the difference between the share of investors that are optimistic and the share of analysts that are pessimistic. Generally speaking, an optimistic view is considered as positive (or bullish) for the EUR, whereas a pessimistic view is considered as negative (or bearish).
08:00	EUR	average	ZEW Survey - Economic Sentiment	37.9	38.9	46
The Economic Sentiment published by the Zentrum für Europäische Wirtschaftsforschung measures the institutional investor sentiment, reflecting the difference between the share of investors that are optimistic and the share of analysts that are pessimistic. A positive number means that the share of optimists outweighs the share of pessimists. An optimistic view is considered as positive (or bullish) for the EUR, whereas a pessimistic view is considered as negative (or bearish).
12:00	CAD	high	BoC Interest Rate Decision	0.25%	0.25%	0.25%
BoC Interest Rate Decision is announced by the Bank of Canada. If the BoC is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the CAD. Likewise, if the BoC has a dovish view on the Canadian economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.
14:00	USD	average	Fed's Bernanke testifies
The Fed Governor Ben Shalom Bernanke gives a press conference as to how the Fed observes the current U.S. economy and the value of USD. His comments may influence the volatility of USD and determine a short-term positive or negative trend. His hawkish view is considered as positive, or bullish for the USD, whereas his dovish view is considered as negative, or bearish for the Dollar.
14:00	USD	average	Continuing Jobless Claims	4639K
The Counting Jobless Claims released by the US Department of Labor measure the number of individuals who are unemployed and are currently receiving unemployment benefits. It presents the strength in the labor market. A rise in this indicator has negative implications for consumer spending which discourage economic growth. Generally speaking, a high reading is seen as negative, or bearish for the USD, while a low reading is seen as positive, or bullish.
19:30	USD	low	API Crude Oil Inventories	1405K		-741K
API Crude Oil Inventories released by the API is a measure of change in crude oil storage. This report indicates the oil demand and the price volatility. As the oil prices have an impact on worldwide economy, some volatility for the currencies is expected, specially for the CAD. We usually have to take into account that Canada is the world's fourteenth largest producer of oil so a strong oil demand appreciates, or is bullish for the CAD.
20:00	USD	low	ABC/Washington Post Consumer Confidence	-47		-50
The ABC/Washington Post Consumer Confidence released by ABC News and the Washington Post captures the level of confidence that individuals have in economic activity reflecting respondents' evaluations of their personal financial situation. Generally, a high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).

21 April 2010, Wednesday

	Currency	Value	Event	Prev.	Forecast	Real
23:30	AUD	low	Westpac Leading Index (MoM)	0.2%		0.5%
The Westpac Leading Index released by the Melbourne Institute tracks nine gauges of economic activity, including share prices and telephone installations, to provide an indication of how the economy will perform. It tends to have an impact on the AUD volatility. Generally speaking, the more positive the reading, the better for the currency, while a low reading is seen as negative (or bearish)
04:00	JPY	low	Coincident Index	100.7		100.5
The Coincident Index released by the Cabinet Office is a single summary statistic that tracks the current state of the Japanese economy. A rise in the index indicates an expansion of economic activity and a decline in the index indicates a contraction in economic activity. Generally speaking, a result that values above 50% signals appreciates (or is bullish for) the JPY, whereas a result that values below 50% is seen as negative (or bearish).
04:00	JPY	low	Leading Economic Index	97.9		98.5
The Leading Economic Index released by the Cabinet Office is an economic indicator that consists of 12 indexes such as account inventory ratios, machinery orders, stock prices and other leading economic indicators. It shows the performance of the Japanese Economy over the short and mid-term. Generally speaking, a result above 50 is positive (or bullish) for the JPY, whereas a result below 50 is seen as bearish.
07:30	GBP	average	Claimant Count Rate	4.9%	4.9%	4.8%
The Claimant Count Rate released by the National Statistics is a monthly measure of unemployment in the UK It indicates the health of the UK labor market. If the rate is up, it indicates a lack of expansion within the UK lobar market, while it indicates economic expansion and could spark inflationary pressures if the rate is down. Generally, a decrease of the figure is seen as positive (or bullish) for the GBP, while an increase is seen as negative.
07:30	GBP	average	Average Earnings excluding Bonus (3Mo/Yr)	1.5%	1.5%	1.7%
The Average Earing Excluding Bonus released by the National Statistics is a key short-term indicator of how levels of pay are changing within the UK economy. It can be seen as a measure of growth in "basic pay". Generally speaking, the positive earnings growth anticipates positive (or bullish) for the GBP, whereas a low reading is seen as negative (or bearish).
07:30	GBP	high	Bank of England Minutes
The minutes of the BoE MPC meetings are published two weeks after the interest rate decision. The minutes give a full account of the policy discussion, including differences of view. They also record the votes of the individual members of the Committee. Generally speaking, if the BoE is hawkish about the inflationary outlook for the economy, then the markets see a higher possibility of a rate increase, and that is positive for the GBP.
07:30	GBP	average	ILO Unemployment Rate (3M)	7.8%	7.8%	8%
The ILO Unemployment Rate released by the National Statistics is the number of unemployed workers divided by the total civilian labor force. It is a leading indicator for the UK Economy. If the rate is up, it indicates a lack of expansion within the U.K. labor market. As a result, a rise leads to weaken the U.K. economy. Generally, a decrease of the figure is positive (or bullish) for the GBP, while an increase is negative.
07:30	GBP	average	Average Earnings including Bonus (3Mo/Yr)	0.8%	2.4%	2.3%
The Average Earing Including Bonus released by the National Statistics is a key short-term indicator of how levels of pay are changing within the UK economy. Generally speaking, the positive earnings growth anticipates positive (or bullish) for the GBP, whereas a low reading is seen as negative (or bearish).
07:30	GBP	high	Jobless Claims Change	-40.1K	-8K	-32.9K
The Claimant Change released by the National Statistics presents the number of unemployment people in the UK. There is a tendency to influence the GBP volatility. Generally speaking, a rise in this indicator has negative implications for consumer spending which discourage economic growth. Generally, a high reading is seen as negative (or bearish) for the GBP, while a low reading is seen as positive (or bullish).
10:00	USD	low	MBA Mortgage Applications	-9.6%		13.6%
The MBA Mortgage Applications released by the Mortgage Bankers Association presents various mortgage applications. It is considered as a leading indicator of the U.S Housing Market. A Mortgage growth represents a healthy housing market that stimulates the overall US economy. Normally, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).
11:30	CAD	average	Wholesale Sales (MoM)	2.4%	1.2%	-1.2%
The Wholesale Sales released by the Statistic Canada shows value of sales made by wholesalers in Canada. Generally, a growing number in wholesales indicates increases in retail trade and consumption, that is seen as positive or bullish for the CAD, while a declining number indicates the weakened retail sectors, consumption, and the economy in Canada, that is seen as negative or bearish for the currency.
13:15	USD	average	Fed's Bernanke Speech
The Fed Governor Ben Shalom Bernanke was born in 1953. He graduated from Harvard University and a Ph.D. in economics in 1979 from the Massachusetts Institute of Technology. In 2006 he became the Chairman of the Federal Reserve System. He gives a press conference as to how the Fed observes the current US economy and the value of USD. His comments may determine a short-term positive or negative trend.
13:30	USD	low	EIA Crude Oil Stocks change	2.4M	0.1M	1.9M
EIA Crude Oil Stock is a measure of change in crude oil storage and it's released by the Energy Information Administration. This report indicates the oil demand and the price volatility. As the oil prices have an impact on worldwide economy, some volatility for the currencies, specially for the CAD is expected. We have to take into account that Canada is the world's fourteenth largest producer of oil so a strong oil demand appreciates, or is bullish for the CAD.
22:50	JPY	low	Merchandise Trade Balance Total	¥651B	¥975.4	¥948.9
The Merchandise Trade Balance Total released by the Ministry of Finance is a measure of balance amount between import and export. A positive value shows a trade surplus while a negative value shows a trade deficit. Japan is so much dependant on exports that the Japanese economy heavily relies on a trade surplus. Therefore, any variation in the figures influences the domestic economy. If a steady demand in exchange for Japanese exports is seen, that would turn into a positive.
22:50	JPY	low	Adjusted Merchandise Trade Balance	¥471.8	¥657B	¥666.2
The Adjusted Merchandise Trade Balance is released by the Ministry of Finance and it's a seasonal measure of balance amount between import and export. A positive value shows a trade surplus while a negative value shows a trade deficit. Japan is so much dependant on exports. A high reading is positive for the JPY, while a low reading is seen as negative (or bearish).

22 April 2010, Thursday

	Currency	Value	Event	Prev.	Forecast	Real
23:00	USD	average	G20 Meeting
The G20 (Group of Twenty Finance Ministers and Central Bank Governors) meeting is the meeting of the seven industrialized nations (G7),the European Union, and the emerging economies. The meeting takes place to discuss international economic and financial issues. Traders should pay close attention to this event as it might bring a new dimension to the markets.
00:30	AUD	low	RBA Foreign Exchange Transaction	424M		892M
The Foreign Exchange Transactionreleased by the Reserve Bank of Australia shows the movements of the exchange of the AUD for others, likewise others for the AUD. It indicates the climate of foreign investors into the AUD itself. This event causes volatility in the AUD. Generally, an increasing number of investments is seen as positive prospect of the Australian economy (or bullish sentiment for the AUD).
00:30	AUD	low	New Motor Vehicle Sales (MoM)	-1.9%		-2.7%
The New Motor Vehicle Sales released by the Australian Bureau of Statistics measures motor vehicle sales in Australia. It is considered as an indicator for consumer confidence. It is worth noting that motor vehicle sales are a small component of the overall Australian economy. Generally speaking, a high reading is seen as positive (or bullish) for the AUD, while a low reading is seen as negative (or bearish).
00:30	AUD	low	New Motor Vehicle Sales (YoY)	17.1%		19.2%
The New Motor Vehicle Sales released by the Australian Bureau of Statistics measures motor vehicle sales in Australia. It is considered as an indicator for consumer confidence. It is worth noting that motor vehicle sales are a small component of the overall Australian economy. Generally speaking, a high reading is seen as positive (or bullish) for the AUD, while a low reading is seen as negative (or bearish).
05:15	CHF	average	Trade Balance	1.29B	1.79B	2.01B
The Trade Balance released by the Swiss Federal Customs Administration is a measure of balance amount between import and export. A positive value shows a trade surplus while a negative value shows a trade deficit. Any variation in the figures influences the domestic economy. Generally speaking, if a steady demand in exchange for Swiss exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the CHF.
06:30	EUR	low	Purchasing Manager Index Services	54.9	55.3	55
The Services PMI released by the Markit Economics interviews German executives on the status of sales, employment, and their outlook. Because the performance of the German service sector is extremely consistent over time, services does not impact final GDP figures as much as the more volatile figure on the manufacturing sector. Any reading above 50 signals expansion, while a reading under 50 shows contraction.
06:30	EUR	average	Purchasing Manager Index Manufacturing	60.2	60.3	61.3
The Manufacturing Purchasing Managers Index (PMI) released by the Markit economics captures business conditions in the manufacturing sector. As the manufacturing sector dominates a large part of total GDP, the manufacturing PMI is an important indicator of business conditions and the overall economic condition in Germany. Normally, a result above 50 signals is bullish for the EUR, whereas a result below 50 is seen as bearish.
07:00	EUR	average	Purchasing Manager Index Manufacturing	56.6	56.9	57.5
The Manufacturing Purchasing Managers Index (PMI) released by the Markit Economics captures business conditions in the manufacturing sector. As the manufacturing sector dominates a large part of total GDP, the manufacturing PMI is an important indicator of business conditions and the overall economic condition in the Euro Zone. A result above 50 signals is bullish for the EUR, whereas a result below 50 is seen as bearish.
07:00	EUR	low	Purchasing Manager Index Services	54.1	54.7	55.5
The PMI service released by the Markit Economics is an indicator of the economic situation in the Euro Zone services sector. It captures an overview of the condition of sales and employment. It is worth noting that the European service sector does not influence, either positively or negatively, the GDP as much as the PMI manufacturing does. Any reading above 50 signals expansion, while a reading under 50 shows contraction.
07:30	GBP	high	Retail Sales (YoY)	3.2%	2.3%	2.2%
The retail Sales released by the National Statistics measures the total receipts of retail stores. Monthly percent changes reflect the rate of changes of such sales. Changes in Retail Sales are widely followed as an indicator of consumer spending. Generally speaking, a high reading is seen as positive, or bullish for the GBP, while a low reading is seen as negative or bearish.
07:30	GBP	low	M4 Money Supply (MoM)	0.2%	0.3%	0.1%
M4 Money is widely referred as "broad money" or simply "money supply". The M4 Money Supply released by the Bank of England measures all the sterling in circulation, encompassing notes and coins as well as money held in bank accounts. It is considered as an important indicator of inflation, as monetary expansion adds pressure to the exchange rates. Normally, an acceleration of the M4 money is considered as positive for the GBP, whereas a decline is negative.
07:30	GBP	high	Retail Sales (MoM)	2.5%	0.7%	0.4%
The retail Sales released by the National Statistics measures the total receipts of retail stores. Monthly percent changes reflect the rate of changes of such sales. Changes in Retail Sales are widely followed as an indicator of consumer spending. Generally speaking, a high reading is seen as positive, or bullish for the GBP, while a low reading is seen as negative or bearish.
07:30	GBP	low	M4 Money Supply (YoY)	3.9%		3.5%
M4 Money is widely referred as "broad money" or simply "money supply". The M4 Money Supply released by the Bank of England measures all the sterling in circulation, encompassing notes and coins as well as money held in bank accounts. It is considered as an important indicator of inflation, as monetary expansion adds pressure to the exchange rates. Normally, an acceleration of the M4 money is considered as positive for the GBP, whereas a decline is negative.
07:30	GBP	average	Public Sector Net Borrowing	£12.	£24.	£23.
The Net Borrowing released by the National Statistics captures an amount of new debt held by the U.K. governments (the financial deficit in the UK national accounts). Generally speaking, if the Net Borrowing is negative, it means the UK Accounts are surplus, and that should be positive for the GBP. While a deficit is generally unfavorable for the economy, a growth in the Net Borrowing is considered as negative, or bearish for the GBP.
07:30	GBP	low	Mortgage Approvals	47K	51K	52K
The Mortgage Approvals released by the Bank of England presents the number of various Mortgage Approvals. It is considered as a leading indicator of the UK Housing Market. A Mortgage growth represents a healthy housing market that stimulates the overall UK economy. Generally, a high reading is seen as positive (or bullish) for the GBP, while a low reading is seen as negative (or bearish).
08:00	CHF	average	ZEW Survey - Expectations	53.8		53.4
The ZEW Survey Expectations published by the Centre for European Economic Research presents business conditions, employment conditions and other elements affecting the day to day running of a business in Switzerland. Generally speaking, a high reading is seen as positive (or bullish) for the CHF, whereas a low reading is seen as negative (or bearish).
09:00	GBP	average	CBI Industrial Trends - Business Sentiment (QoQ)	12		24
The CBI Business Sentiment released by the Confederation of British Industry shows the business outlook in the UK. The Business Sentiment allows analyses of economic situation in the short term. Normally, an optimistic view of the UK firms is considered as positive, or bullish for the GBP, whereas a pessimistic view is considered as negative, or bearish for the Pound.
09:00	GBP	low	CBI Industrial Trends Survey - Orders (MoM)	-37		-36
The CBI Industrial Trends Survey is released by the Confederation of British Industry and gives expert qualitative opinion from senior manufacturing executives, on past and expected trends in output, exports, prices, costs, investment intentions, business confidence and capacity utilization. If those opinions show a hawkish outlook in the manufacturing sector, that is seen as positive, or bullish, for the GBP.
10:00	EUR	average	ECB Trichet's Speech
The European Central Bank's president Jean Claude Trichet was born in 1942, Paris. He graduated from the University of Paris in the facility of economics. In 2003 he became the president of the European Central Bank. He gives a press conference as to how the ECB observes the current European economy and the value of EUR. His comments may determine a short-term positive or negative trend. Generally speaking, if he shows a hawkish outlook, that is generally seen as positive (or bullish) for the EUR, while a dovish is seen as negative (or bearish).
11:30	USD	average	Producer Price Index (YoY)	4.4%	6.1%	6%
The Producer Price Index released by the Bureau of Labor statistics, Department of Labor measures the average changes in prices in primary markets of the US by producers of commodities in all states of processing. Changes in the PPI are widely followed as an indicator of commodity inflation. Generally speaking, a high reading is seen as positive (or bullish) for the USD, whereas a low reading is seen as negative (or bearish).
11:30	CAD	low	Leading Indicators (MoM)	0.8%	0.7%	1%
The Leading Indicators released by the Statistics Canada measures future trends of the overall economic activity including employment, average manufacturing workweek, initial claims, permits for new housing construction, stock prices and yield curve. It is considered as a measure for economic stability in Canada. Generally, a high reading is seen as positive (or bullish) for the CAD, whereas a low reading is seen as negative (or bearish).
11:30	USD	low	Continuing Jobless Claims	4686K	4600K	4646K
The Counting Jobless Claims released by the US Department of Labor measure the number of individuals who are unemployed and are currently receiving unemployment benefits. It presents the strength in the labor market. A rise in this indicator has negative implications for consumer spending which discourage economic growth. Generally speaking, a high reading is seen as negative, or bearish for the USD, while a low reading is seen as positive, or bullish.
11:30	USD	average	Producer Price Index ex Food & Energy (YoY)	1%	0.9%	0.9%
The Producer Price Index ex Food & energy released by the Bureau of Labor statistics, Department of Labor measures the average changes in prices in primary markets of the US by producers of commodities in all states of processing. Those volatile products such as food and energy are excluded in order to capture an accurate calculation. Generally speaking, a high reading is seen as positive (or bullish) for the USD, whereas a low reading is seen as negative (or bearish).
11:30	USD	average	Producer Price Index ex Food & Energy (MoM)	0.1%	0.1%	0.1%
The Producer Price Index ex Food & energy released by the Bureau of Labor statistics, Department of Labor measures the average changes in prices in primary markets of the US by producers of commodities in all states of processing. Those volatile products such as food and energy are excluded in order to capture an accurate calculation. Generally speaking, a high reading is seen as positive (or bullish) for the USD, whereas a low reading is seen as negative (or bearish).
11:30	USD	average	Initial Jobless Claims	480K	450K	456K
The Initial Jobless Claims released by the US Department of Labor is a measure of the number of people filing first-time claims for state unemployment insurance. In other words, it provides a measure of strength in the labor market. A larger than expected number indicates weakness in this market which influences the strength and direction of the US economy. Generally speaking, a decreasing number should be taken as positive or bullish for the USD.
11:30	USD	average	Producer Price Index (MoM)	-0.6%	0.5%	0.7%
The Producer Price Index released by the Bureau of Labor statistics, Department of Labor measures the average changes in prices in primary markets of the US by producers of commodities in all states of processing. Changes in the PPI are widely followed as an indicator of commodity inflation. Generally speaking, a high reading is seen as positive (or bullish) for the USD, whereas a low reading is seen as negative (or bearish).
13:00	USD	average	Existing Home Sales (MoM)	-0.8%	5.6%	6.8%
The Existing Home Sales, released by the National Association of Realtors, provide an estimated value of housing market conditions. As the housing market is considered as a sensitive factor to the US economy, it generates some volatility for the USD. Generally speaking, a high reading is positive for the Dollar, while a low reading is negative.
13:00	USD	low	Housing Price Index (MoM)	-0.6%	-0.1%	-0.2%
The Housing Price Index released by the Office of Federal Reserve Housing Enterprise Oversight provides an estimated value of housing market conditions. It is an important indicator as the housing market is considered as a sensitive factor to the US economy. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).
13:00	EUR	low	Consumer Confidence	-17	-17	-15
The Consumer Confidence released by the European Commision is a leading index that measures the level of consumer confidence in economic activity. A high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn. A high reading is seen as positive (or bullish) for the EUR, while a low reading is seen as negative (or bearish).
13:00	USD	average	Existing Home Sales	5.01M	5.28M	5.35M
The Existing Home Sales, released by the National Association of Realtors provide an estimated value of housing market conditions. As the housing market is considered as a sensitive factor to the US economy, it generates some volatility for the USD. Generally speaking, a high reading is positive for the Dollar, while a low reading is negative.
14:55	USD	average	Barack Obama Speech
The President-elect Barack Obama has a press conference. It is a significant event to determine the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth. An optimistic view is seen as positive (or bullish) for the USD, while a pessimistic view is seen as negative (or bearish).
15:15	JPY	low	BoJ's Governor Shirakawa Speech
The BoJ Governor Masaaki Shirakawa was born in 1949. He graduated from University of Tokyo and a M.A. in economics in 1977 from University of Chicago. In 2008 he became the governor. He gives a press conference as to how the BoJ observes the current Japanese economy and the value of JPY. His comments may determine a short-term positive or negative trend.
21:45	NZD	low	Visitor Arrivals	-1.9%		1.1%
The Visitor Arrivals released by the Statistics New Zealand measures the number of visitors to New Zealand. As the tourism industry dominates a large part of the total GDP, the visitor arrivals is an important indicator of the overall economic condition in New Zealand. Normally, a high reading is seen as positive (or bullish) for the NZD, while a low reading is seen as negative (or bearish).

23 April 2010, Friday

	Currency	Value	Event	Prev.	Forecast	Real
23:00	USD	average	G20 Meeting
The G20 (Group of Twenty Finance Ministers and Central Bank Governors) meeting is the meeting of the seven industrialized nations (G7),the European Union, and the emerging economies. The meeting takes place to discuss international economic and financial issues. Traders should pay close attention to this event as it might bring a new dimension to the markets.
00:30	AUD	low	Import Price Index (QoQ)	-4.3%	-1.5%	0.3%
Import Price Index informs the changes in the price of imported products. It's released by the Australian Bureau of Statistics. The higher the cost of imported goods, the stronger the effect they will have on inflation, redunding in a higher probability of a rate rise. Therefore, a high reading should be taken as positive, or bullish, for the AUD.
02:00	NZD	low	Credit Card Spending	2.1%		6.3%
The Credit Card Spending released by the Reserve Bank of New Zealand measures the total credit card expenditure by individuals. The level of credit card spending can be used as an indicator of consumer optimism and is also considered as a measure of economic growth. Normally, a high reading is positive (or Bullish) for the NZD, while a low reading is negative (or bearish).
03:30	JPY	low	All Industry Activity Index (MoM)	3.8%	1.3%	-2.3%
The All Industry Activity Index released by the Ministry of Economy, Trade and Industry captures the monthly change in overall production by all industries of the Japanese economy. The index indicates the Japanese GDP and the overall growth figures, providing insight into current levels of Japanese economic expansion. Normally, a high reading is seen as positive (or bullish) for the JPY, while a low reading is seen as negative (or bearish).
07:00	EUR	average	IFO - Current Assessment	94.5	95.3	99.3
The IFO Current Assessment released by the CESifo Group is closely watched as an indicator of current conditions and business expectations in Germany. The Institute surveys more than 7,000 enterprises on their assessment of the business situation and their short-term planning. The positive economic growth anticipates bullish movements for the EUR, while a low reading is seen as negative (or bearish).
07:00	EUR	high	IFO - Business Climate	98.2	98.7	101.6
This German business sentiment index released by the CESifo Group is closely watched as an early indicator of current conditions and business expectations in Germany. The Institute surveys more than 7,000 enterprises on their assessment of the business situation and their short-term planning. The positive economic growth anticipates bullish movements for the EUR, while a low reading is seen as negative (or bearish).
07:00	EUR	average	IFO - Expectations	102	102.1	104
The IFO Expectations released by the CESifo Group is closely watched as an early indicator of current conditions and business expectations for the next six months, where firms rate the future outlook as better, same, or worse. An optimistic view of those 7,000 business leaders and senior managers is considered as positive, or bullish for the EUR, whereas a pessimistic view is considered as negative, or bearish.
07:30	GBP	high	Gross Domestic Product (QoQ)	0.4%	0.4%	0.2%
The Gross Domestic Product released by the National Statistics is a measure of the total value of all goods and services produced by the UK. The GDP is considered as a broad measure of the UK economic activity and health. Generally speaking, a rising trend has a positive effect on the GBP, while a falling trend is seen as negative (or bearish).
07:30	GBP	high	Gross Domestic Product (YoY)	-3.1%	-0.1%	-0.3%
The Gross Domestic Product released by the National Statistics is a measure of the total value of all goods and services produced by the UK. The GDP is considered as a broad measure of the UK economic activity and health. Generally speaking, a rising trend has a positive effect on the GBP, while a falling trend is seen as negative (or bearish).
07:30	GBP	low	Index of Services	0.6%	0.6%	0.4%
The Index of Services released by the National Statistics measures the monthly movements in gross value added for the service industries. It is worth noting that the UK service sector does not influence, either positively or negatively, the GDP as much as the Manufacturing sector does. Traders want the highest possible reading as that will be taken as positive for the GBP, while a low reading is negative.
08:00	EUR	average	Industrial New Orders s.a. (MoM)	-1.6%	0.8%	1.5%
The Industrial new orders released by the Eurostat captures the value of new contracts for goods in the manufacturing sector. An increasing number of Industrial New Orders predicts enhanced production and a growth in the GDP. Normally, a high reading is seen as positive, or bullish, for the EUR, while a low reading is seen as negative, or bearish.
08:00	EUR	low	Industrial New Orders (YoY)	7.5%	11.2%	12.2%
The Industrial new orders released by the Eurostat captures the value of new contracts for goods in the manufacturing sector. An increasing number of Industrial New Orders predicts enhanced production and a growth in the GDP. Normally, a high reading is seen as positive, or bullish, for the EUR, while a low reading is seen as negative, or bearish.
10:00	CAD	average	Bank of Canada Consumer Price Index Core (MoM)	0.7%		-0.2%
The Consumer Price Index Core is released by the Bank of Canada. “Core” CPI excludes fruits, vegetables, gasoline, fuel oil, natural gas, mortgage interest, intercity transportation, and tobacco products. These volatile core 8 are considered as the key indicator for inflation in Canada. Generally speaking, a high reading anticipates a hawkish attitude by the BoC, and that is said to be positive (or bullish) for the CAD.
10:00	CAD	average	Bank of Canada Consumer Price Index Core (YoY)	2.1%	1.9%	1.7%
Consumer Price Index Core is released by the Bank of Canada. “Core” CPI excludes fruits, vegetables, gasoline, fuel oil, natural gas, mortgage interest, intercity transportation, and tobacco products. These volatile core 8 are considered as the key indicator for inflation in Canada. Generally speaking, a high reading anticipates a hawkish attitude by the BoC, and that is said to be positive (or bullish) for the CAD.
10:00	CAD	average	Consumer Price Index (MoM)	0.4%	0.2%
The Consumer Price Index released by the Statistics Canada is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. The purchase power of CAD is dragged down by inflation. The Bank of Canada aims at an inflation range (1%-3%). Generally speaking, a high reading is seen as anticipatory of a rate hike and is positive (or bullish) for the CAD.
10:00	CAD	average	Consumer Price Index (YoY)	1.6%	1.6%	1.4%
The Consumer Price Index released by the Statistics Canada is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. The purchase power of CAD is dragged down by inflation. The Bank of Canada aims at an inflation range (1%-3%). Generally speaking, a high reading is seen as anticipatory of a rate hike and is positive (or bullish) for the CAD.
11:30	CAD	high	Retail Sales ex Autos (MoM)	2%	0.9%	-0.1%
The Retail Sales ex Auto released by the Statistics Canada is a monthly data that shows all goods sold by retailers based on a sampling of retail stores of different types and sizes except the automobile sector. The retail sales index is often taken as an indicator of consumer confidence. It shows the performance of the retail sector in the short term. Generally speaking, the positive economic growth anticipates bullish movements for the CAD.
11:30	USD	average	Durable Goods Orders	1.1%	0.1%	-1.3%
The Durable Goods Orders, released by the US Census Bureau, measures the cost of orders received by manufacturers for durable goods, which means goods planned to last for three years or more, such as motor vehicles and appliances. As those durable products often involve large investments they are sensitive to the US economic situation. The final figure shows the state of US production activity. Generally speaking, a high reading is bullish for the USD.
11:30	CAD	high	Retail Sales (MoM)	0.9%	1.1%	0.5%
The Retail Sales released by the Statistics Canada is a monthly data that shows all goods sold by retailers based on a sampling of retail stores of different types and sizes. The retail sales index is often taken as an indicator of consumer confidence. It shows the performance of the retail sector in the short term. Generally speaking, the positive economic growth anticipates bullish movements for the CAD.
11:30	USD	average	Durable Goods Orders ex Transportation	1.7%	0.6%	2.8%
The Durable Goods Orders measures, released by the US Census Bureau, the cost of orders received by manufacturers for durable goods, which means goods planned to last for three years or more, excluding the transport sector. As those durable products often involve large investments they are sensitive to the US economic situation. Generally speaking, a high reading is bullish for the USD, while a low reading is seen as Bearish.
13:00	USD	average	New Home Sales (MoM)	-4.1%	4.6%	26.9%
The number of New Home sales released by the US Census Bureau is an important measure of housing market conditions. House buyers spend money on furnishing and financing their homes so as a result the demand for goods, services and the employees is stimulated. Generally, a high reading is seen as bullish for the USD, whereas a low reading is seen as bearish.
13:00	USD	average	New Home Sales	324K	323K	411K
The number of New Home Sales released by the US Census Bureau is an important measure of housing market conditions. House buyers spend money on furnishing and financing their homes so as a result the demand for goods, services and the employees is stimulated. Generally, a high reading is seen as bullish for the USD, whereas a low reading is seen as bearish.
21:00	USD	low	Treasury's Geithner Speech
Timothy Geithner became the 75th Secretary of the US Department of Treasury in 2009. He gives a press conference as to how the Treasury Secretary observes the current US economy. His comments may determine a short-term positive or negative trend. Normally, if he shows a hawkish outlook, that is seen as positive (or bullish) for the USD, while a dovish is seen as negative (or bearish).

Economic calendar

19 April 2010, Monday

20 April 2010, Tuesday

21 April 2010, Wednesday

22 April 2010, Thursday

23 April 2010, Friday

24 April 2010, Saturday

25 April 2010, Sunday

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	Currency	Value	Event	Prev.	Forecast	Real
23:00	-	average	IMF Meeting
IMF (International Monetary Fund) meeting is the meeting of its member countries to discuss stabilizing international exchange rates and facilitating development. The event may have an impact on exchange rates and the balance of payments. Traders should pay close attention to this event as it might bring a new dimension to the markets.

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