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Economic calendar

18 October 2010, Monday

	Currency	Value	Event	Prev.	Forecast	Real
00:30	AUD	low	New Motor Vehicle Sales (YoY)	10.5%		8.6%
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 (MoM)	0.2%		0.9%
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).
11:30	CAD	low	Foreign investment in Canadian securities	$5.51B	$6.01B	$11.09B
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).
11:30	CAD	low	Canadian Investment in Foreign Securities	$2.99B		-$3.384B
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).
12:00	USD	low	Total Net TIC Flows	$63.3B		$38.9B
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	$61.2B		$128.7B
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).
12:15	USD	average	Industrial Production (MoM)	0.2%	0.2%	-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	74.8%	74.8%	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).
16:00	USD	low	NAHB Housing Market Index	13	14	16
NAHB Housing Market Index is released by the National Association of Home Builders. It presents home sales and expected home buildings in the future indicating housing market trend in the United States. The growth rate of the housing market affects the USD volatility. Normally, a high reading is seen as positive (or bullish) for the USD, whereas a low reading is seen as negative (or bearish).

19 October 2010, Tuesday

	Currency	Value	Event	Prev.	Forecast	Real
00:30	AUD	low	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.
07:00	EUR	low	Current Account n.s.a	€3.4B		-€10.
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).
07:00	EUR	low	Current Account s.a	-€4.1		-€7.5
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).
08:00	EUR	average	ZEW Survey - Economic Sentiment	4.4	-2	1.8
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	average	ZEW Survey - Current Situation	59.9	63.5	72.6
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	-4.3	-7	-7.2
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	low	Construction Output w.d.a (YoY)	-7.5%		-8.5%
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	average	Construction Output s.a (MoM)	3.1%		-0.4%
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.
09:00	GBP	low	CBI Industrial Trends Survey - Orders (MoM)	-17	-19	-28
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.
10:30	CNY	high	PBoC Interest Rate Decision	5.31%		5.56%
The PBoC Interest Rate Decision is announced by the People´s Bank of China. If the PBoC is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the CNY. Likewise, if the PBoC has a dovish view on the Chinese economy and keeps the ongoing interest rate, or cuts the interest rate it is negative, or bearish.
11:30	USD	average	Housing Starts (YoY)	0.608M	0.583M	0.61M
The Housing Starts released by the US Census Bureau, at the Department of Commerce is an indicator that tracks how many new single-family homes or buildings were constructed. For the survey each house and each single apartment are counted as one housing start. The figures include all private and publicly owned units. It indicates movements of the US housing market. Generally, a high reading anticipates positive (or bullish) for the USD, whereas a low reading is seen as negative (or bearish).
11:30	USD	low	Building Permits (MoM)	0.571M	0.58M	0.539M
The Building Permits released by the US Census Bureau, at the Department of Commerce shows the number of permits for new construction projects. It implies the movement of corporate investments (US economic development). It tends to cause some volatility to the USD. Normally, the more growing number of permits, the more positive (or bullish) for the USD.
11:30	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).
12:00	CAD	high	BoC Interest Rate Decision	1%	1%	1%
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.
17:50	GBP	low	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).
19:00	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.
20:00	USD	low	ABC/Washington Post Consumer Confidence	-45		-46
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).

20 October 2010, Wednesday

	Currency	Value	Event	Prev.	Forecast	Real
23:30	AUD	low	Westpac Leading Index (MoM)	0.3%		-0.1%
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	103.5		103.3
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	99.1		99.5
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.
05:00	EUR	average	Producer Price Index (MoM)		0.2%	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)	3.2%	3.8%	3.9%
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).
07:30	GBP	average	Public Sector Net Borrowing	£14.	£14.	£15.
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	M4 Money Supply (YoY)	1.9%	1.5%	0.9%
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	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	low	M4 Money Supply (MoM)	-0.2%	0.3%	-0.3%
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.
10:00	USD	low	MBA Mortgage Applications	14.6%		-10.5%
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	low	Wholesale Sales (MoM)	-0.1%	0.5%	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.
13:30	CAD	high	Bank of Canada Monetary Policy Report
The Bank of Canada publishes a study of economic movements in Canada. It indicates a sign of new fiscal policy. Any changes in this report tend to affect the CAD volatility. If the BoC report shows a hawkish outlook, that is seen as positive (or bullish) for the CAD, while a dovish outlook is seen as negative (or bearish).
13:30	USD	low	EIA Crude Oil Stocks change	-0.3M		0.7M
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.
17:00	USD	average	Fed's Beige Book
The Beige Book reports on the current US economic situation. Through interviews with key business contacts, economists, market experts, and other sources are gathered by each of the 12 Federal Reserve Districts. The survey gives a picture of the overall US economic growth. An optimistic view of those authorities is considered as positive, or bullish for the USD, whereas a pessimistic view is considered as negative, or bearish for the Dollar.
20:45	NZD	low	Visitor Arrivals	0.6%		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).

21 October 2010, Thursday

	Currency	Value	Event	Prev.	Forecast	Real
23:30	AUD	low	RBA Foreign Exchange Transaction	397M		526M
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).
01:00	CNY	average	Gross Domestic Product (YTD) (YoY)	11.1%	9.5%
The Gross Domestic Product released by the National Bureau of Statistics of China studies the gross value of all goods and services produced by China. The indicator presents the pace at which the Chinese economy is growing or decreasing. As the Chinese economy has influence on the global economy, this economic event would have an impact on the Forex market. Generally speaking, a high reading is seen as positive (or bullish) for the CNY, while a low reading is seen as negative ( or Bearish).
01:00	CNY	average	Urban investment (YoY)	24.8%	24.6%	24.5%
The Urban investment released by the National Bureau of Statistics of China refers to the total amount money of the activities in construction and purchase of fixed assets, it is a comprehensive index which reflect the scale, pace, proportional relations and use orientation of the fixed assets investment. A large urban investment is an indicative of China's overall economic growth and strong domestic demand. As the Chinese economy has influence on the global economy, this economic indicator would have an impact on the Forex market. In general, a high reading is seen as positive (or bullish) CNY, while a low reading is seen as negative (or bearish) for the CNY.
01:00	NZD	low	Credit Card Spending SA (MoM)	0.1%		0.9%
Credit Card Spending SA (MoM)
01:00	CNY	average	Consumer Price Index (YoY)	3.5%	3.6%	3.6%
The Consumer Price Index is released by the National Bureau of Statistics of China. It is a measure of retail price variations within a representative basket of goods and services. The result is a comprehensive summary of the results extracted from the urban consumer price index and rural consumer price index. The purchase power of the CNY is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. A substantial consumer price index increase would indicate that inflation has become a destabilizing factor in the economy, potentially prompting The People’s Bank of China to tighten monetary policy and fiscal policy risk. Generally speaking, a high reading is seen as positive (or bullish) for the CNY, while a low reading is seen as negative (or Bearish) for the CNY.
01:00	CNY	average	Retail Sales (YoY)	18.4%	18.5%	18.8%
The Retail Sales report released by the National Bureau of Statistics of China measures the total receipts of the retailed consumer goods. It reflects the total consumer goods that the various industries supply to the households and social groups through various channels. It is an important indicator to study the changes in the Chinese retail market and reflecting the degree of economic prosperity. In general, A high reading is seen as positive (or bullish) CNY, while a low reading is seen as negative (or bearish) for the CNY.
01:00	CNY	average	Industrial Production (YoY)	13.9%	14%	13.3%
Industrial output is released by the National Bureau of Statistics of China. It shows the volume of production of Chinese Industries such as factories and manufacturing facilities. A surge in output is regarded as inflationary which would prompt the People’s Bank of China would tighten monetary policy and fiscal policy risk. Generally speaking, if high industrial production growth comes out, this may generate a positive sentiment (or bullish) for the CNY, whereas a low reading is seen as negative (or Bearish) for the CNY.
01:00	CNY	none	Gross Domestic Product (YoY)	10.3%		9.6%
The Gross Domestic Product released by the National Bureau of Statistics of China studies the gross value of all goods and services produced by China. The indicator presents the pace at which the Chinese economy is growing or decreasing. As the Chinese economy has influence on the global economy, this economic event would have an impact on the Forex market. Generally speaking, a high reading is seen as positive (or bullish) for the CNY, while a low reading is seen as negative ( or Bearish).
03:30	JPY	average	All Industry Activity Index (MoM)	1%	-0.4%	-0.4%
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).
05:15	CHF	average	Trade Balance	0.582B	1.2B	1.69B
The Trade Balance released by the Swiss Statistics Office 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. Review Alex Nekritin's Article - Trading the Swiss Franc with the Swiss Trade Balance
06:30	EUR	average	Purchasing Manager Index Services	54.9	54.7	56.6
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.
07:00	EUR	average	Purchasing Manager Index Manufacturing	55.1	54.6	56.1
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	53.7	53.2	54.1
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	average	Purchasing Manager Index Services	54.1	53.7	53.2
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	none	BBA Mortgage Approvals	31.8K
The Mortgage Approvals published by the British Bankers' Association (BBA) measure the number of home loans issued by the BBA during the previous quarter. 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. 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	low	Mortgage Approvals	47K		44K
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).
07:30	GBP	average	Retail Sales (MoM)	-0.7%	0.3%	-0.2%
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	average	Retail Sales (YoY)	0.8%	0.9%	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.
08:00	CHF	average	ZEW Survey - Expectations	-5.1		-27.5
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).
11:30	CAD	average	Leading Indicators (MoM)	0.6%	0.1%	-0.1%
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	Initial Jobless Claims	475K	453K	452K
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	Continuing Jobless Claims	4450K	4420K	4441K
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.
13:00	USD	average	Philadelphia Fed Manufacturing Survey	-0.7	0.5	1
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.
13:00	EUR	average	Consumer Confidence	-11	-11	-11
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	low	Leading Indicators (MoM)	0.1%	0.2%	0.3%
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).

22 October 2010, Friday

	Currency	Value	Event	Prev.	Forecast	Real
23:00		none	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.
23:30	AUD	none	Import Price Index (QoQ)	1.9%		0.7%
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.
23:30	AUD	none	Export Price Index (QoQ)	16.1%		7.8%
Export Price Index informs of the changes in the price of exports. It's released by the Australian Bureau of Statistics. Agricultural products and minerals cover over the 60% of manufacturing exports. Thus, the changes in commodity prices affect the Australian economy. Low volatility for the AUD is expected. A rise in prices is a threat over the mid-term as higher prices mean lower demands to be expected.
07:00	EUR	average	IFO - Current Assessment	109.8	110	110.2
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). Review Alex Nekritin's Article - Trading Euro with IFO Report
07:00	EUR	average	IFO - Expectations	103.9	102.9	105.1
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. Review Alex Nekritin's Article - Trading Euro with IFO Report
07:00	EUR	average	IFO - Business Climate	106.8	106.5	107.6
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). Review Alex Nekritin's Article - Trading Euro with IFO Report
10:00	CAD	average	Consumer Price Index (MoM)	-0.1%	0.1%	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	Bank of Canada Consumer Price Index Core (MoM)	0.1%	0.3%	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	high	Consumer Price Index (YoY)	1.7%	1.9%	1.9%
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	Bank of Canada Consumer Price Index Core (YoY)	1.6%	1.6%	1.5%
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.
11:30	CAD	average	Retail Sales (MoM)	0.1%	-0.1%	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	CAD	average	Retail Sales ex Autos (MoM)	-0.2%	0.4%	0.4%
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.

	Currency	Value	Event	Prev.	Forecast	Real
22:50	JPY	average	Merchandise Trade Balance Total	¥103.2	¥710B	¥797B
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. Review Alex Nekritin's Article - Trading the Yen with Japan Trade Balance
22:50	JPY	low	Adjusted Merchandise Trade Balance	¥590M	¥495.5	¥590M
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). Review Alex Nekritin's Article - Trading the Yen with Japan Trade Balance

Economic calendar

18 October 2010, Monday

19 October 2010, Tuesday

20 October 2010, Wednesday

21 October 2010, Thursday

22 October 2010, Friday

23 October 2010, Saturday

24 October 2010, Sunday

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