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Economic calendar

13 September 2010, Monday

	Currency	Value	Event	Prev.	Forecast	Real
06:15	CHF	low	Producer and Import Prices (MoM)	-0.5%		0.1%
The Producer and Import Prices is an indicator of consumer price inflation provided by the Federal Statistical Office. The higher the cost of imported goods, the stronger the effect they will have on inflation. High inflationary pressure may anticipate interest rates hike by the SNB. Generally, a high reading should be taken as positive, or bullish, for the CHF.
06:15	CHF	low	Producer and Import Prices (YoY)	0.5%		0.5%
The Producer and Import Prices is an indicator of consumer price inflation provided by the Federal Statistical Office. The higher the cost of imported goods, the stronger the effect they will have on inflation. High inflationary pressure may anticipate interest rates hike by the SNB. Generally, a high reading should be taken as positive, or bullish, for the CHF.
17:00	USD	average	Monthly Budget Statement	-165B		-90.53B
The Monthly Budget Statement released by the Financial Management Service summarizes the financial activities of federal entities, disbursing officers, and Federal Reserve banks. A positive budget statement that receipts exceed budgetary outlays is seen as bullish for the USD. On the other hands, a negative figure (deficit) that indicates government debt is seen as bearish.
21:45	NZD	average	Retail Sales ex Autos (MoM)	1.5%	0.1%	-0.1%
The retail Sales released by the Statistics New Zealand measures the total receipts of retail stores except the automobile sector. Monthly percent changes reflect the rate of changes of such sales. Changes in Retail Sales are widely followed as an indicator of consumer spending. A high reading is seen as positive (or bullish) for the NZD, while a low reading is seen as negative (or bearish).
21:45	NZD	low	Retail Sales (MoM)	0.9%		-0.4%
The retail Sales released by the Statistics New Zealand 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. A high reading is seen as positive (or bullish) for the NZD, while a low reading is seen as negative (or bearish).
22:01	GBP	average	RICS House Price Balance	-8%	-11%	-32%
The RICS Housing Price Balance released by the Royal Institution of Chartered Surveyors presents housing costs in the UK. It shows the strength of the UK housing market, which can be considered as the economy as a whole, as the housing market is sensitive to the business cycle. A high reading is seen as positive (or bullish) for the GBP, while a low reading is seen as negative (or bearish).
22:01	GBP	average	Nationwide Consumer Confidence	56	59	61
The Nationwide Consumer Confidence captures the level of confidence that individuals have in current and future UK's economy. A high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn. A high reading is also positive for the GBP, while a low reading is negative.

14 September 2010, Tuesday

	Currency	Value	Event	Prev.	Forecast	Real
00:30	AUD	low	National Australia Bank's Business Confidence	2		11
The National Australia Bank Business Confidence is a survey of the current business condition in Australia. It indicates the performance of the overall Australian economy in a short-term view. A positive economic growth anticipates bullish movements for the AUD, whereas a negative growth is seen as bearish.
00:30	AUD	low	National Australia Bank's Business Conditions	5		5
The NAB´s Business Conditions released by the National Australia Bank looks at trading, profitability and employment conditions in Australia. It serves as an indicator of overall economic situation in the short term. A high reading is seen as positive (or bullish) for the AUD, while a low reading is seen as negative (or bearish).
03:00	JPY	low	Tokyo Condominium Sales (YoY)	27.8%		18.5%
The Tokyo Condominium Sales released by the Japan Real Estate Institute present changes in the value of condominiums sold in Tokyo. As Tokyo is the capital city of Japan, this report serves as an indicator for the health of the overall Japanese Housing Market. Generally speaking, a high reading is seen as positive (or bearish) for the JPY, while a low reading is seen as negative, or bearish.
03:30	JPY	low	Industrial Production (MoM)	-1.1%		-0.2%
The Industrial Production released by the Ministry of Economy, Trade and Industry measures outputs of the Japanese factories and mines. Changes in industrial production are widely followed as a major indicator of strength in the manufacturing sector. A high reading is seen as bullish for the JPY, whereas a low reading is seen as bearish.
03:30	JPY	low	Industrial Production (YoY)	17.3%		14.2%
The Industrial Production released by the Ministry of Economy, Trade and Industry measures outputs of the Japanese factories and mines. Changes in industrial production are widely followed as a major indicator of strength in the manufacturing sector. A high reading is seen as bullish for the JPY, whereas a low reading is seen as bearish.
03:30	JPY	average	Capacity Utilization	-2.1		-0.3
The Capacity Utilization released by the Ministry of Economy, Trade and Industry is the percentage of the Japanese production capacity which is actually used over the short-time period. It is indicative of overall growth and demand in the Japanese economy. A high capacity utilization stimulates inflationary pressures. A high reading is seen as positive (or bullish) for the JPY, while a low reading is seen as negative (or Bearish).
05:00	EUR	low	Wholesale Price Index (YoY)	5.3%	4.9%	6.4%
The wholesale price Index released by the Statistisches Bundesamt Deutschland shows value of sales made by wholesalers in Germany. A growing number in wholesales indicates increases in retail trade and consumption, that is seen as positive or bullish for the EUR, while a declining number indicates the weakened retail sectors, consumption, and the economy in Germany, that is seen as negative or bearish for the currency.
05:00	EUR	low	Wholesale Price Index (MoM)	-0.3%	0.3%	1.6%
The wholesale price Index released by the Statistisches Bundesamt Deutschland shows value of sales made by wholesalers in Germany. A growing number in wholesales indicates increases in retail trade and consumption, that is seen as positive or bullish for the EUR, while a declining number indicates the weakened retail sectors, consumption, and the economy in Germany, that is seen as negative or bearish for the currency.
07:30	GBP	low	Retail Price Index (YoY)	4.8%	4.6%	4.7%
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	Consumer Price Index (YoY)	3.1%	2.9%	3.1%
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	low	DCLG House Price Index (YoY)	9.9%	10.6%	8.4%
The House Price Index released by the Department of Communities and Local Government shows changes in housing prices with the use of mix-adjusted method. The Index shows insight into housing trends and is considered as a key indicator for inflationary pressures. Normally, 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	average	Retail Price Index (MoM)	-0.2%	0.3%	0.4%
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).
07:30	GBP	low	Core Consumer Price Index (YoY)	2.6%	2.5%	2.8%
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	average	Consumer Price Index (MoM)	-0.2%	0.3%	0.5%
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).
08:00	EUR	average	ZEW Survey - Economic Sentiment	15.8	14.5	4.4
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).
08:00	EUR	low	Industrial Production w.d.a. (YoY)	8.3%	8%	7.1%
The Industrial Production is released by the Eurostat. It shows the volume of production of Industries such as factories and manufacturing. Up trend is regarded as inflationary which may anticipate interest rates to rise. If high industrial production growth comes out, this may generate a positive sentiment (or bullish) for the EUR, while low industrial production is seen as a negative sentiment (or bearish).
08:00	EUR	average	Industrial Production s.a. (MoM)	-0.1%	0.1%
The Industrial Production is released by the Eurostat. It shows the volume of production of Industries such as factories and manufacturing. Up trend is regarded as inflationary which may anticipate interest rates to rise. If high industrial production growth comes out, this may generate a positive sentiment (or bullish) for the EUR, while low industrial production is seen as a negative sentiment (or bearish).
08:00	EUR	low	Labor Costs (YoY)	1.7%
The Labor Cost released by the Eurostat shows the total cost of a labor force in the Euro-zone. Increasing labor costs are seen as an indicator of inflationary pressure, which can drive up interest rates. A high reading is seen as positive (or Bullish) for the EUR, whereas a low reading is seen as negative (or Bearish).
08:00	EUR	average	ZEW Survey - Current Situation	44.3	50	59.9
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). Review Alex Nekritin's Article - Trading the Euro with Germany ZEW Survey
08:00	EUR	average	ZEW Survey - Economic Sentiment	14	10	-4.3
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). Review Alex Nekritin's Article - Trading the Euro with Germany ZEW Survey
11:30	CAD	low	Labor Productivity (QoQ)	0.5%	-0.5%	-0.8%
The Labor Productivity released by the Statistics Canada studies the average productivity of real GDP per hour worked. The study indicates the health condition of overall labor force in Canada. Normally, a high reading is seen as positive (or bullish) for the CAD, while a low reading is seen negative (or bearish).
11:30	USD	average	Retail Sales (MoM)	0.3%	0.3%	0.4%
The retail Sales released by the US Census Bureau 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 USD, while a low reading is seen as negative (or bearish).
11:30	CAD	low	New Motor Vehicle Sales (MoM)	2.5%	1%	2.4%
The New Motor Vehicle Sales released by the Statistics Canada measure motor vehicle sales in Canada. It is considered as an indicator for the overall economic climate. Generally, a high reading is seen as positive (or bullish) for the CAD, while a low reading is seen as negative (or bearish).
11:30	CAD	low	Capacity Utilization	74.4%	75.5%	76%
The Capacity Utilization released by the Statistics Canada presents the percentage of the Canadian production capacity which is actually used over the short-time period. It is indicative of overall growth and demand in the Canadian economy. A high capacity utilization stimulates inflationary pressures. A high reading is seen as positive (or bullish) for the CAD, while a low reading is seen as negative (or Bearish).
11:30	USD	average	Retail Sales ex Autos (MoM)	0.1%	0.3%	0.6%
The Retail Sales ex Autos released by the US Census Bureau 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. This report is the "advance" report, which can be revised fairly significantly after the final numbers are calculated. The positive economic growth anticipates bullish movements for the USD.
13:00	USD	average	Business Inventories	0.5%	0.5%	1%
The business inventories released by the US Census Bureau measures the monthly percentage changes in inventories from manufacturers, retailers, and wholesalers. The sales figures do not move the markets as they do not reflect personal consumption
13:00	USD	low	IBD/TIPP Economic Optimism	43.6	44.3	45.3
The Economic Optimism Index, released by The Investor's Business Daily (IBD) TechnoMetrica Institute of Policy and Politics (TIPP), measures the sentiment of consumers related to economic conditions. The report is based on a monthly survey where near to 1000 nationwide adults evaluate their economic outlook for the next six months, personal financial perspectives and their confidence in federal economics policies. If consumers are optimistic they will purchase more goods and services which will involve growth in domestic demand and stimulation to the economy. A reading above 50 indicates optimism, below 50 is pessimism.
20:00	USD	low	ABC/Washington Post Consumer Confidence	-43		-43
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).

15 September 2010, Wednesday

	Currency	Value	Event	Prev.	Forecast	Real
23:30	AUD	average	Westpac Consumer Confidence	5.4%		-5%
The Westpac Consumer Confidence released by the Faculty of Economics and Commerce Melbourne Institute captures the level of sentiment that individuals have in economic activity reflecting respondents' evaluations of their family finances over the past and coming year, expectations about the one-year and five-year economic conditions and views about current buying conditions for major household items. Generally speaking, a high reading is seen as positive (or bullish) for the AUD, whereas a low reading is seen as negative (or bearish).
00:30	AUD	low	New Motor Vehicle Sales (MoM)	-2.6%		0.3%
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).
07:30	GBP	average	Jobless Claims Change	-1K	-5K	2.3K
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).
07:30	GBP	low	Claimant Count Rate	4.5%	-3%	4.5%
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	low	ILO Unemployment Rate (3M)	7.8%	7.8%	7.8%
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)	1.3%	1.6%	1.5%
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	low	Average Earnings excluding Bonus (3Mo/Yr)	1.8%	1.5%	1.8%
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).
08:00	EUR	low	Consumer Price Index - Core (YoY)	1%	0.9%	1%
The Consumer Price Index released by Eurostat is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services excluding the volatile components like food and energy. The CPI Core is a key indicator to measure inflation and changes in purchasing trends. Generally, a high reading is seen as positive or bullish for the EUR, while a low reading is seen as negative.
08:00	CHF	low	ZEW Survey - Expectations	9.1		-5.1
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).
08:00	EUR	low	Employment Change (QoQ)
The Employment Change released by the Eurostat is a measure of the change in the number of employed people in the Euro-Zone. Generally speaking, a rise in this indicator has positive implications for consumer spending which stimulates economic growth. Generally speaking, 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	average	Consumer Price Index (MoM)	-0.3%	0.2%	0.2%
The Euro Zone CPI released by the Eurostat captures the changes in the price of goods and services. The CPI is a significant way to measure changes in purchasing trends and inflation in the Euro Zone. Generally, a high reading anticipates a hawkish attitude which will be positive (or bullish) for the EUR, while a low reading is seen as negative (or bearish).
08:00	EUR	average	Employment Change (YoY)	-1.2%		-0.6%
The Employment Change released by the Eurostat is a measure of the change in the number of employed people in the Euro-Zone. Generally speaking, a rise in this indicator has positive implications for consumer spending which stimulates economic growth. Generally speaking, 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	average	Consumer Price Index (YoY)	1.7%	1.6%	1.6%
The Euro Zone CPI released by the Eurostat captures the changes in the price of goods and services. The CPI is a significant way to measure changes in purchasing trends and inflation in the Euro Zone. Generally, a high reading anticipates a hawkish attitude which will be positive (or bullish) for the EUR, while a low reading is seen as negative (or bearish).
09:30	GBP	average	BoE's Governor King Speech
The BoE Chairman Mervyn King was born in 1948. He graduated from King’s College, Cambridge, and Harvard. He gives a press conference as to how the BoE observes the current UK economy and the value of the GBP. His comments may determine a short-term positive or negative trend. If he shows a hawkish outlook, that is seen as positive (or bullish) for the GBP, while a dovish is seen as negative (or bearish).
10:00	USD	average	MBA Mortgage Applications	-1.5%		-8.9%
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	USD	low	Import Price Index (YoY)	4.9%	3.8%	4.1%
The Import Price Index released by the US Department of Labor informs the changes in the price of imported products into the US.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. Generally, a high reading should be taken as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).
11:30	USD	low	Import Price Index (MoM)	0.2%	0.2%	0.6%
The Import Price Index released by the US Department of Labor informs the changes in the price of imported products into the US.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. Generally, a high reading should be taken as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).
11:30	CAD	average	Manufacturing Shipments (MoM)	-0.1%		-0.9%
The Manufacturing Shipment released by the Statistic Canada examines overall Shipments of Canada. It can be seen expected market demand. Generally speaking, a growing number of goods including unsold inventories indicates a fall in the market demand,which anticipates bearish for the CAD. Also, a decreasing shipment is seen as negative (or bearish). On the other hand, an increasing shipment is seen as positive (or bullish).
11:30	USD	average	NY Empire State Manufacturing Index	7.1	9	4.14
The Empire State Manufacturing Survey conducted by the Federal Reserve Bank of New York gauges business conditions for New York manufacturers. Generally speaking, a positive result indicates bullish for US Dollar, while a negative result shows poor growth of US Dollar.
12:15	USD	low	Industrial Production (MoM)	1%	0.3%	0.2%
The Industrial Production released by the Board of Governors of the Federal Reserve shows the volume of production of US industries such as factories and manufacturing. Up trend is regarded as inflationary which may anticipate interest rates to rise. If High industrial production growth comes out, this may generate a positive sentiment (or bullish) for the USD.
12:15	USD	low	Capacity Utilization	74.6%	74.9%	74.7%
The Capacity Utilization released by the Federal Reserve Board is the percentage of the US production capacity which is actually used over the short-time period. It is indicative of overall growth and demand in the U.S. economy. A high capacity utilization stimulates inflationary pressures. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or Bearish).
13:30	USD	low	EIA Crude Oil Stocks change	-1.9M		-2.5M
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.
20:00	NZD	average	RBNZ Interest Rate Decision	3%	3%	3%
RBNZ Interest Rate Decision is announced by the Reserve Bank of New Zealand. If the RBNZ is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the NZD. Review Alex Nekritin's Article - Trading New Zealand Dollar with RBNZ Rate Decision
21:30	NZD	low	Business NZ PMI	49.9		49.3
The Business NZ PMI released by the Business NZ presents business conditions in New Zealand. The Business PMI is an important indicator of the overall economic condition. A result that values above 50 signals appreciates (or is bullish) for the NZD, whereas a result that values below 50 is seen as negative (or bearish).
22:50	JPY	low	Tertiary Industry Index (MoM)	-0.1%	0.7%	1.6%
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).

16 September 2010, Thursday

	Currency	Value	Event	Prev.	Forecast	Real
00:00	AUD	average	Consumer Inflation Expectation	2.8%		3.1%
The Consumer Inflation Expectation released by the Melbourne Institute presents the consumer expectations of future inflation during the next 12 months. The higher expectations, the stronger the effect they will have on a probability of a rate hike by the RBA. Therefore, a high reading should be taken as positive, or bullish, for the AUD, while a low expectations are seen as negative or bearish.
06:15	CHF	low	Industrial Production (YoY)	5.3%		7.8%
The Industrial Production is released by the Swiss Statistics. It shows the volume of production of Industries such as factories and manufacturing. Up trend is regarded as inflationary which may anticipate interest rates to rise. If high industrial production growth comes out, this may generate a positive sentiment (or bullish) for the CHF, while low industrial production imight be seen as a negative sentiment (or bearish).
06:15	CHF	average	Industrial Production (QoQ)	-7.8%		5.7%
The Industrial Production is released by the Swiss Statistics. It shows the volume of production of Industries such as factories and manufacturing. Up trend is regarded as inflationary which may anticipate interest rates to rise. If high industrial production growth comes out, this may generate a positive sentiment (or bullish) for the CHF, while low industrial production might be seen as a negative sentiment (or bearish).
07:00	JPY	average	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.
07:30	GBP	average	Retail Sales (MoM)	0.8%	0.3%	-0.5%
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	Retail Sales (YoY)	1%	2%	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.
08:00	EUR	low	Trade Balance s.a.	-€1.4	-€0.8	-€0.2
The Trade Balance released by the Eurostat is a balance between exports and imports of total goods and services. A positive value shows trade surplus, while a negative value shows trade deficit. It is an event that generates some volatility for the EUR. Generally, if a steady demand in exchange for exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the EUR.
08:00	EUR	low	Trade Balance n.s.a.	€2.2B	€1.3B	€6.7B
The Trade Balance released by the Eurostat is a balance between exports and imports of total goods and services. A positive value shows trade surplus, while a negative value shows trade deficit. It is an event that generates some volatility for the EUR. Generally, if a steady demand in exchange for exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the EUR.
09:00	GBP	low	CBI Industrial Trends Survey - Orders (MoM)	-14	-12	-17
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.
11:00	CHF	high	SNB Interest Rate Decision	0.25%	0.25%	0.25%
The Swiss National Bank conducts the country’s monetary policy as an independent central bank. It is obliged by the Constitution and by statute to act in accordance with the interests of the country as a whole. Its primary goal is to ensure price stability, while taking due account of economic developments. In so doing, it creates an appropriate environment for economic growth.
11:30	USD	low	Producer Price Index ex Food & Energy (MoM)	0.3%	0.3%	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	low	Producer Price Index (YoY)	4.2%	3%	3.1%
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	USD	low	Current Account	-$109.16B	-$124.2B	-$123.28B
The Current Account released by the Bureau of Economic Analysis is a net flow of current transactions, including goods, services, and interest payments into and out of the US. A current account surplus indicates that the flow of capital into the US exceeds the capital reduction. Normally, 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 (MoM)	0.2%	0.3%	0.4%
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	USD	low	Continuing Jobless Claims	4569K		4485K
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	low	Initial Jobless Claims	453K	460K	450K
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	low	Producer Price Index ex Food & Energy (YoY)	1.5%	1.3%	1.3%
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).
12:00	USD	low	Total Net TIC Flows	-$6.7B		$63.7B
The total Net TIC Flows is released by the US Department of Treasury. TIC stands for Treasury International Capital. It shows in and out flows of financial resources in the United States. The TIC flows is one of the major events in the market, as it is seen by most participants as the Government resource for offsetting the current Trade Deficit. Generally speaking, a high reading is positive (or bullish) for the USD, while a low reading is negative (or bearish).
12:00	USD	average	Net Long-term TIC Flows	$44.4B	$37.9B	$61.2B
The total Net TIC Flows is released by the US Department of Treasury. TIC stands for Treasury International Capital. It shows in and out flows of financial resources in the United States. The TIC flows is one of the major events in the market, as it is seen by most participants as the Government resource for offsetting the current Trade Deficit. Generally speaking, a high reading is positive (or bullish) for the USD, while a low reading is negative (or bearish).
13:00	USD	average	Philadelphia Fed Manufacturing Survey	-7.7	0.5	-0.7
The Philadelphia Fed Survey is a spread index of manufacturing conditions (movements of manufacturing) within the Federal Reserve Bank of Philadelphia. This survey, served as an indicator of manufacturing sector trends, is interrelated with the ISM manufacturing Index (Institute for Supply Management) and the index of industrial production. It is also used as a forecast of The ISM Index. Generally, an above-the-expectaitons reading is seen as positive for the USD.

17 September 2010, Friday

	Currency	Value	Event	Prev.	Forecast	Real
05:00	EUR	average	Producer Price Index (MoM)	0.5%	0.3%
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	EUR	average	Producer Price Index (YoY)	3.7%	3.5%	3.2%
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	-€3.8	-€3.7	-€3.8
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	€1.8B		€3.7B
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).
08:00	EUR	low	Construction Output w.d.a (YoY)	1.9%		-7.5%
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.
08:00	EUR	low	Construction Output s.a (MoM)	1.8%		3.1%
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.
11:30	USD	average	Consumer Price Index Ex Food & Energy (MoM)	0.1%	0.1%
The Consumer Price Index Ex Food & Energy released by the US Department of Labor is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. 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, while a low reading is seen as negative (or Bearish).
11:30	USD	average	Consumer Price Index Ex Food & Energy (YoY)	0.9%	1%	0.9%
The Consumer Price Index Ex Food & Energy released by the US Department of Labor is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. 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, while a low reading is seen as negative (or Bearish).
11:30	USD	average	Consumer Price Index (YoY)	1.2%	1.1%	1.1%
The Consumer Price Index released by the US Department of Labor 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 USD is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or Bearish).
11:30	USD	average	Consumer Price Index (MoM)	0.3%	0.3%	0.3%
The Consumer Price Index released by the US Department of Labor 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 USD is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or Bearish).
12:55	USD	average	Reuters/Michigan Consumer Sentiment Index	68.9	70.3	66.6
The Reuters/Michigan Consumer Sentiment Index released by the Reuters/University of Michigan is a survey of personal consumer confidence in economic activity. It shows a picture of whether or not consumers are willing to spend money. Generally speaking, a high reading anticipates positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).

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13 September 2010, Monday

14 September 2010, Tuesday

15 September 2010, Wednesday

16 September 2010, Thursday

17 September 2010, Friday

19 September 2010, Sunday

20 September 2010, Monday

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	Currency	Value	Event	Prev.	Real
22:01	GBP	average	Rightmove House Price Index (MoM)	-1.7%	-1.1%
The Rightmove House Price Index provides a sample of residential property prices in the UK. It shows the strength of the UK housing market, which can be considered as the economy as a whole due to property prices' sensitivity to changes in the business cycle. Generally speaking, a high reading is seen as positive, or bullish for the GBP, while a low reading is seen as negative, or bearish.
22:01	GBP	average	Rightmove House Price Index (YoY)	4.3%	2.6%
The Rightmove House Price Index provides a sample of residential property prices in the UK. It shows the strength of the UK housing market, which can be considered as the economy as a whole due to property prices' sensitivity to changes in the business cycle. Generally speaking, a high reading is seen as positive, or bullish for the GBP, while a low reading is seen as negative, or bearish.

	Currency	Value	Event	Prev.	Forecast	Real
23:00	JPY	common/calendar/impacts/	Respect-for-the-Aged Day Bank Holiday
Banks will be closed due to Respect-for-the-Aged Day bank holiday.

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