Economic calendar

30 August 2010, Monday

	Currency	Value	Event	Prev.	Forecast	Real
23:00	JPY	high	BoJ Monetary Policy Meeting
The Bank of Japan publishes a study of economic movements in Japan after the actual meeting. These meetings are held to review economic developments inside and outside of Japan and indicate a sign of new fiscal policy. Any changes in this report tend to affect the JPY volatility. Generally speaking, if the BoJ minutes show a hawkish outlook, that is seen as positive (or bullish) for the JPY, while a dovish outlook is seen as negative (or bearish).
23:00	GBP	common/calendar/impacts/	Summer Bank Holiday
Late Summer Holiday is a Bank Holiday in England and Wales, but not in Scotland.
23:30	AUD	low	Company Gross Operating Profits (QoQ)	4.3%	5.8%	18.9%
The Company Gross Operating Profits released by the Australian Bureau of Statistics measures the total amount of pre-tax profits earned from business activities, excluding interest expense on borrowing and valuation adjustments. A high reading is seen as positive (or bullish) for the AUD because good business conditions are a sign of a strong consumer spending and import/ export activity, while a low reading is seen as negative (or bearish).
00:00	AUD	low	HIA New Home Sales (MoM)	-5.1%		-7%
HIA New Home Sales released by the presents the number of new home sales in Australia. It indicates the housing market condition. House buyers spend money on furnishing and financing their homes, which stimulates the demand for goods, services, and the employees. Thus, a high reading is seen as bullish (or positive) for the AUD, whereas a low reading is seen as bearish (or negative).
02:00	NZD	low	Business Confidence	27.9		16.4
The Business Confidence released by the National Bank of New Zealand shows the business outlook in New Zealand. The Business Confidence allows analysis of economic situation in the short term. Increasing numbers indicates increases in business investment that lead to higher levels of output. Thus, a high reading is seen as positive (or bullish) for the NZD, while a low reading is seen as negative (or bearish).
02:00	NZD	low	M3 Money Supply (YoY)	-3.3%		-2.8%
The M3 Money Supply released by the Reserve Bank of New Zealand measures all the New Zealand Dollars 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. An acceleration of the M3 money is considered as positive for the NZD, whereas a decline is as negative.
08:00	EUR	average	Consumer Confidence	-14	-12	-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).
08:00	EUR	low	Industrial Confidence	-4	-4	-4
The Industrial Confidence released by the European Commission is an index that measures the level of industrial executives confidence in economic activity. The survey asks about orders and buildup of inventories. A high level of industrial 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).
08:00	EUR	low	Services Confidence		7
Services Confidence
08:00	EUR	average	Economic Confidence	101.3	101.6	101.8
The Euro Zone Economic Confidence released by the European Commision is a survey of consumers confidence in economic activity. It indicates the trend of the overall Euro Zone economy. An optimistic view of consumers is considered as positive for the EUR, whereas a pessimistic view is considered as negative.
11:30	USD	low	Core Personal Consumption Expenditure - Prices Index (YoY)	1.4%	1.4%	1.4%
The Core Personal Consumption Expenditure released by the US Bureau of Economic Analysis is an average amount of money that consumers spend in a month. "Core" excludes seasonally volatile products such as food and energy in order to capture an accurate calculation of the expenditure. It is a significant indicator of inflation. A high reading is bullish for the USD, while a low reading is bearish.
11:30	CAD	low	Current Account	-8.46B	-10B	-11.02B
The current account, released by Statistics Canada, is a net flow of current transactions, including goods, services and interest payments into and out of Canada. A current account surplus indicates that the flow of capital into Canada exceeds the capital reduction. A high reading is seen as positive (or bullish) for the CAD, whereas a low reading is seen as negative (or bearish)
11:30	CAD	low	Industrial Product Price (MoM)	-0.9%	0.4%	0.1%
The Industrial Product Price released by the Statistics Canada measure price changes for major commodities sold by Canadian manufactures. Changes in the IPP are widely followed as an indicator of commodity inflation. 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	average	Personal Income (MoM)		0.3%	0.2%
The Personal Income released by the Bureau of Economic Analysis, Department of Commerce measures the total income received by individuals, from all sources including wages and salaries, interest, dividends, rent, workers' compensation, proprietors' earnings, and transfer payments. This figure can provide insight on the US employment situation. A high reading is positive for the USD, whereas a low reading is negative.
11:30	USD	low	Personal Consumption Expenditure Deflator	1.4%	1.4%	1.5%
Price changes may cause consumers to switch from buying one good to another and the PCE Deflator has the ability to account for such substitutions. This makes it the preferred measure of inflation for the Federal Reserve and it's released by the Commerce Department.
11:30	USD	low	Core Personal Consumption Expenditure - Prices Index (MoM)		0.1%	0.1%
The Core Personal Consumption Expenditure released by the US Bureau of Economic Analysis is an average amount of money that consumers spend in a month. "Core" excludes seasonally volatile products such as food and energy in order to capture an accurate calculation of the expenditure. It is a significant indicator of inflation. A high reading is bullish for the USD, while a low reading is bearish.
11:30	CAD	low	Raw Material Price Index	-0.3%	0.2%	1.8%
Raw Material Price Index released by the Statistics Canada measures the prices of key raw materials paid by Canadian manufacturers. The RMPI is an early indicator to measure inflation and changes in material prices. A high reading is seen as positive or bullish for the CAD, while a low reading is seen as negative or bearish.
21:45	NZD	low	Building Permits (MoM)	3.5%	2%	3.1%
The Building Permits released by the Statistics New Zealand show the number of permits for new construction projects. It is considered as a leading indicator for the housing market. The more growing number of permits, the more positive (or bullish) for the NZD, while a low reading is seen as negative, or bearish.
22:01	GBP	average	Gfk Consumer Confidence	-22	-24	-18
The GfK Group Consumer Confidence 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. Normally, a high reading is positive for the GBP, while a low reading is bearish.
22:15	JPY	average	Nomura/ JMMA Manufacturing Puchasing Manager Index	52.8		50.1
The Nomura/JMMA Manufacturing PMI gives an early snapshot of the health of manufacturing sector in Japan. The Manufacturing PMI is a significant indicator of business conditions and the overall economic condition in Japan. A result above 50 signals appreciation and is bullish for the JPY, whereas a result below 50 is seen as bearish.
22:50	JPY	average	Industrial Production (YoY)	17.3%	14.3%	14.8%
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.
22:50	JPY	low	Large Retailer's Sales	-4%	-1.3%	-1.2%
The Large Retailers' Sales released by the Ministry of Economy, Trade and Industry" captures the total value of goods sold in large stores, chain convenience stores, and supermarkets. It indicates the level of consumption and consumer confidence. A high level of Large Retailers´ Sales stimulates economic expansion while a low level drives to economic downturn. A high reading is positive for the JPY, while a low reading is bearish.
22:50	JPY	average	Retail Trade (YoY)	3.2%	3.5%	3.9%
The Retail Trade released by the Ministry of Economy, Trade and Industry captures the aggregate sales made through a business location (usually a store) in which the principal activity is the sale of merchandise and related services to the general public, for household or personal consumption. Consumer spending is a key important indicator for the Japanese economy. A high reading is positive for the JPY, while a low reading is negative.
22:50	JPY	average	Industrial Production (MoM)	-1.5%	-0.2%	0.3%
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.
22:50	JPY	average	Retail Trade s.a (MoM)	0.4%	0.5%	0.7%
The Retail Trade released by the Ministry of Economy, Trade and Industry captures the aggregate sales made through a business location (usually a store) in which the principal activity is the sale of merchandise and related services to the general public, for household or personal consumption. Consumer spending is a key important indicator for the Japanese economy. A high reading is positive for the JPY, while a low reading is negative.

31 August 2010, Tuesday

	Currency	Value	Event	Prev.	Forecast	Real
23:30	AUD	low	Building Permits (MoM)	-3.3%	-0.7%	2.3%
The Building Permits released by the Australian Bureau of Statistics shows the number of permits for new construction projects. It implies the movement of corporate investments (the Australian economic development). It tends to cause some volatility to the AUD. The more growing number of permits, the more positive (or bullish) for the AUD.
23:30	AUD	average	Current Account Balance	-16.6B	-6.5B	-5.64B
The Current Account Balance released by the Australian Bureau of Statistics is a net flow of current transactions, including goods, services, and interest payments into and out of Australia. A current account surplus indicates that the flow of capital into Australia exceeds the capital reduction. A high reading is seen as positive (or Bullish) for the AUD, whereas a low reading is seen as negative (or Bearish).
23:30	AUD	low	Building Permits (YoY)	13.2%	6.1%	11%
The Building Permits released by the Australian Bureau of Statistics shows the number of permits for new construction projects. It implies the movement of corporate investments (the Australian economic development). It tends to cause some volatility to the AUD. The more growing number of permits, the more positive (or bullish) for the AUD.
00:30	JPY	low	Labor Cash Earnings (YoY)	1.8%	0.5%	1.3%
Indicator released by the Ministry of Health, Labour and Welfare shows the average income, before taxes, per regular employee. It includes overtime pay and bonuses but it doesn't take into account earnings from holding financial assets nor capital gains. Higher income puts upward pressures over consumption, therefore an increasing trend in earnings is inflationary for the Japanese economy. A higher than expected reading is bullish for the yen, while below the market consensus the result is bearish.
00:30	AUD	average	Private Sector Credit (MoM)	0.2%	0.3%	0.1%
The Private Sector Credit released by the Reserve Bank of Australia is an amount of money that the Australian private sector borrows. It shows if the private sector can afford large expenses, which can fuel economic growth. It is considered as an indicator of business conditions and the overall economic condition in Australia. Generally, a high reading is seen as positive (or Bullish) for the AUD, whereas a low reading is seen as negative.
00:30	AUD	average	Private Sector Credit (YoY)	2.8	3	2.8
The Private Sector Credit released by the Reserve Bank of Australia is an amount of money that the Australian private sector borrows. It shows if the private sector can afford large expenses, which can fuel economic growth. It is considered as an indicator of business conditions and the overall economic condition in Australia. Generally, a high reading is seen as positive (or Bullish) for the AUD, whereas a low reading is seen as negative.
03:00	JPY	low	Vehicle Production (YoY)	25.9%		16.8%
This data, scheduled by the JAMA, measures the number of vehicle productions in Japan. As the Japanese car industry dominates a large part of total GDP,the Vehicle Production is an important indicator of business conditions and the overall economic condition in Japan. The more growing number of productions, the more positive (or bullish) for the JPY, while a low reading is seen as negative, or bearish.
04:00	JPY	low	Annualized Housing Starts	0.75M	0.756M	0.772M
The Annualized Housing Starts released by the Ministry of Land, Infrastructure and Transport captures how many new single-family homes or buildings were constructed. It shows the strength of the Japanese housing market, which can be considered as the economy as a whole due to Housing Starts' sensitivity to changes in the business cycle. A high reading is seen as positive, or bullish for the JPY, while a low reading is seen as negative, or bearish.
04:00	JPY	average	Small Business Confidence
Small Business Confidence
04:00	JPY	average	Construction Orders (YoY)	-10.2%		-0.7%
The Construction Orders released by the Ministry of Land, Infrastructure, Transport and Tourism shows numbers of orders received by construction companies. It is considered as a key indicator for the housing market in Japan. A high reading is seen as positive (or bullish) for the JPY, whereas a low reading is seen as negative (or bearish).
04:00	JPY	low	Housing Starts (YoY)	0.6%	2.1%	4.3%
The Housing Starts released by the Ministry of Land, Infrastructure and Transport captures how many new single-family homes or buildings were constructed. It shows the strength of the Japanese housing market, which can be considered as the economy as a whole due to Housing Starts'' sensitivity to changes in the business cycle. Generally speaking, a high reading is seen as positive, or bullish for the JPY, while a low reading is seen as negative, or bearish.
05:00	CHF	low	UBS Consumption Indicator	1.81		1.86
Indicator published by UBS, is a leading indicator of private consumption trends, which is the most important component of Swiss GDP. The index is based in five components which are: new car sales, business activity in the retail sector, the number of domestic hotel overnights by Swiss nationals, the consumer sentiment index and credit card transactions via UBS points of sale in Switzerland. A higher than expected reading is bullish for the Swiss franc, while below the market consensus the result is bearish.
06:55	EUR	low	Unemployment Rate s.a.	7.6%	7.6%	7.6%
The Unemployment Rate released by the Bundesagentur für Arbeit and published by the German Statistics Office shows , in a percent basis, the amount of unemployed people in Germany. A decrease in this indicator has positive implications for consumer spending which stimulates economic growth. Normally, a decrease of the figure is bullish for the EUR, while an increase is bearish.
06:55	EUR	average	Unemployment Change	-21K	-20K	-17K
The Unemployment Change released by the Bundesagentur für Arbeit and published by the German Statistics Office is a measure of the change in the number of unemployed people in Germany. A rise in this indicator has negative implications for consumer spending which encourages economic growth. Generally, a high reading is seen as negative (or bearish) for the EUR, while a low reading is seen as positive (or bullish).
07:30	GBP	average	Mortgage Approvals	48.56K	46.5K	48.72K
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	Net Consumer Lending	9.6B		0.2B
Net Consumer Lending
07:30	GBP	average	M4 Money Supply (MoM)	0.1%		0.4%
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	low	Net Lending to Individuals	£0.4	£0.7	£0.3
UK Net Lending to Individuals released by the Bank of England is a monthly measure of growth rates, amounts outstanding and changes in total lending to individuals, divided into lending secured on dwellings and consumer credit. It shows a picture of whether or not consumers are willing to spend money. A high reading is positive for the GBP, while a low reading is negative.
07:30	GBP	average	M4 Money Supply (YoY)	3.1%		2.3%
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.
08:00	EUR	low	Unemployment Rate	10%	10%	10%
The Unemployment Rate released by the Eurostat is the number of unemployed workers divided by the total civilian labor force. It is a leading indicator for the European Economy. If the rate is up, it indicates a lack of expansion within the European lobar market. As a result, a rise leads to weaken the European economy. Generally speaking, a decrease of the figure is seen as positive (or bullish) for the EUR, while an increase is seen as negative (or bearish).
10:00	USD	low	MBA Mortgage Applications	4.9%		2.7%
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	Gross Domestic Product Annualized (QoQ)	5.8%	2.5%	2%
The Gross Domestic Product released by the Statistics Canada is a measure of the total value of all goods and services produced by Canada. The GDP is considered as a broad measure of Canadian economic activity and health. A rising trend has a positive effect on the CAD, while a falling trend is seen as negative (or bearish) for the CAD.
11:30	CAD	average	Gross Domestic Product (MoM)	0.1%	0.2%	0.2%
The Gross Domestic Product released by the Statistics Canada is a measure of the total value of all goods and services produced by Canada. The GDP is considered as a broad measure of Canadian economic activity and health. Generally speaking, a rising trend has a positive effect on the CAD, while a falling trend is seen as negative (or bearish) for the CAD.
12:00	USD	low	S&P/Case-Shiller Home Price Indices (YoY)	4.6%	3.6%	4.2%
The S&P/Case-Shiller Home Price Indices released by the Standard & Poor's examines changes in the value of the residential real estate market in 20 regions across the US. This report serves as an indicator for the health of the US housing market. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative, or bearish.
12:45	USD	average	Chicago Purchasing Managers' Index	62.3	57.5	56.7
The Chicago Purchasing Managers Index released by the Kingsbury International captures business conditions across Illinois, Indiana and Michigan. This index is an indicator of business trends and it is interrelated with the ISM manufacturing Index. It is widely used to indicate the overall economic condition in US. A result above 50 is bullish for the USD, whereas a result below 50 is seen as bearish.
13:00	USD	low	Consumer Confidence	51	51	53.5
The Consumer Confidence released by the Conference Board captures the level of confidence that individuals have in economic activity. A high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn. Generally, a high reading is also positive for the USD, while a low reading is negative.
17:00	USD	average	FOMC Minutes
FOMC Minutes are released by the Board of Governors of the Federal Reserve and are a clear guide to the future US interest rate policy. Review Alex Nekritin's Article - Trading the US Dollar with the FOMC Minutes
20:00	USD	low	ABC/Washington Post Consumer Confidence	-44		-45
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).
22:30	AUD	average	AiG Performance of Mfg Index	54.4		51.7
AiG performance of the Mfg Index released by the Australian Industry Group presents business conditions in the Australian manifucturing sector. The group surveys 200 manufacturers on their assessment of the business situation including employment, production, orders, prices, and inventories, and their short-term planning. A result above 50 is seen as positive (or bullish) for the AUD, whereas a result below 50 is seen as negative (or bearish).

1 September 2010, Wednesday

	Currency	Value	Event	Prev.	Forecast	Real
23:30	AUD	low	Gross Domestic Product (QoQ)	0.7%	0.9%	1.2%
The Gross Domestic Product released by the Australian Bureau of Statistics is a measure of the total value of all goods and services produced by Australia. The GDP is considered as a broad measure economic activity and health. A rising trend has a positive effect on the AUD, while a falling trend is seen as negative (or bearish) for the AUD.
23:30	AUD	low	Gross Domestic Product (YoY)	2.7%	2.8%	3.3%
The Gross Domestic Product released by the Australian Bureau of Statistics is a measure of the total value of all goods and services produced by Australia. The GDP is considered as a broad measure of Swiss economic activity and health. A rising trend has a positive effect on the AUD, while a falling trend is seen as negative (or bearish) for the AUD.
02:00	NZD	average	ANZ Commodity Price	-0.8		-1.4
ANZ Commodity Price released by the ANZ National Bank is considered as an early indicator of export price changes. The price changes influence GDP and exchange rates. An increase in prices may indicate strength of the NZD, while a decrease in prices may indicate weakness of the NZD. A high reading is seen as bullish for the NZD, whereas a low reading is seen as bearish.
04:00	JPY	low	Vehicle Sales (YoY)	15%		46.7%
Vehicle sales released by the Japan Automobile Manufacturers Association measures vehicle sales. It is worth noting that vehicle sales are a large component of the overall Japanese economy. A high reading is seen as positive (or bullish) for the JPY, while a low reading is seen as negative (or bearish).
05:30	AUD	low	RBA Commodity Index SDR (YoY)	43.8%		53%
The RBA Commodity Price SDR released by the Reserve Bank of Australia is considered as an early indicator of export price changes. The price changes influence GDP and exchange rates. An increase in prices may indicate strength of the AUD, while a decrease in prices may indicate weakness of the AUD. A high reading is seen as bullish for the AUD, whereas a low reading is seen as bearish.
06:30	CHF	average	SVME - Purchasing Managers' Index	66.9	65.8	61.4
The SVME Manufacturing Purchasing Managers Index (PMI) released by the Schweizerischer Verband für Materialwirtschaft und Einkauf captures business conditions in the manufacturing sector. The Manufacturing PMI is an important indicator of production growth in Switzerland. A result that values above 50 signals appreciates (or is bullish for) the CHF, whereas a result that values below 50 is seen as negative (or bearish).
06:55	EUR	average	Purchasing Manager Index Manufacturing	61.2	58.2	58.2
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	55		55.1
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.
07:30	GBP	low	Purchasing Manager Index Manufacturing	56.9	57	54.3
The Manufacturing Purchasing Managers Index (PMI) released by both the Chartered Institute of Purchasing & Supply and 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 UK. A result above 50 signals is bullish for the GBP, whereas a result below 50 is seen as bearish.
10:00	USD	low	MBA Mortgage Applications
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).
10:30	USD	low	Challenger Job Cut YoY
Challenger Job Cut YoY
11:15	USD	average	ADP Employment Change	37K	20K	-10K
The Employment Change released by the Automatic Data Processing, Inc is a measure of the change in the number of employed people in the US 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 USD, while a low reading is seen as negative, or bearish.
13:00	USD	low	Construction Spending (MoM)	-0.8%	-0.5%	-1%
The Construction Spending released by the US Census Bureau is an indicator that measures the total amount of spending in the US on all types of construction. The residential construction component is useful for predicting future national new home sales and mortgage origination volume. A high reading is seen as positive, or bullish for the USD, while a low reading is seen as negative, or bearish.
13:00	USD	average	ISM Manufacturing	55.5	53	56.3
The Institute for Supply Management (ISM) Manufacturing Index shows business conditions in the US manufacturing sector It is a significant indicator of the overall economic condition in US. A result above 50 is seen as positive (or bullish) for the USD, whereas a result below 50 is seen as negative (or bearish).
13:00	USD	low	ISM Prices Paid	57.5	56	61.5
The Institute for Supply Management ( ISM ) Manufacturing Index shows business conditions in the US manufacturing sector, taking into account expectations for future production, new orders, inventories, employment and deliveries. It is a significant indicator of the overall economic condition in US. The ISM prices Paid represents business sentiment regarding future inflation. A high reading is seen as positive for the USD, while a low reading is seen as negative.
13:30	USD	low	EIA Gasoline Stocks
EAI Gasoline Stocks
13:30	USD	low	EIA Distillate Stocks
EAI Distillate Stocks
13:30	USD	low	EIA Crude Oil Stocks change	4.1M		3.4M
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	USD	low	Total Vehicle Sales	12.1M	11.6M	11.47M
Total Vehicle sales released by the Autodata Corp. measures vehicle sales in the U.S. It is considered as an indicator for consumer confidence. A high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).
20:00	USD	low	Domestic Vehicle Sales		8.8	8.3
Domestic Vehicle Sales

2 September 2010, Thursday

	Currency	Value	Event	Prev.	Forecast	Real
00:30	AUD	average	Trade Balance	3.5B	3.1B	1.89B
The trade balance released by the Australian Bureau of Statistics is the difference in the value of its imports and exports of Australian goods. Export data can give an important reflection of Australian growth, while imports provide an indication of domestic demand. Trade Balance gives an early indication of the net export performance. If a steady demand in exchange for Australian exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the AUD. Review Alex Nekritin's Article - Trading the Aussie with Australia Trade Balance
04:45	CHF	high	Gross Domestic Product (YoY)	2.3%	2.6%	3.4%
The Gross Domestic Product, released by the State Secretariat for Economic Affairs SECO, is a measure of the total value of all goods and services produced by Switzerland. The GDP is considered as a broad measure of Swiss economic activity and health. A rising trend has a positive effect on the CHF, while a falling trend is seen as negative ( or bearish ) for the CHF.
04:45	CHF	low	Gross Domestic Product s.a. (QoQ)	1%	0.8%	0.9%
The Gross Domestic Product released by the Swiss Statistics is a measure of the total value of all goods and services produced by Switzerland. The GDP is considered as a broad measure of Swiss economic activity and health. A rising trend has a positive effect on the CHF, while a falling trend is seen as negative ( or bearish ) for the CHF.
05:00	GBP	average	Nationwide Housing Prices n.s.a (YoY)	6.6%		3.9%
The Nationwide Housing Prices shows the value of the houses prices in UK and indicate current movements in the housing market that is considered as a sensitive factor to the UK's economy. A high reading is seen as positive (or bullish) for the GBP, while a low reading is seen as negative (or bearish).
05:00	GBP	average	Nationwide Housing Prices s.a (MoM)	-0.5%		-0.9%
The Nationwide Housing Prices shows the value of the houses prices in UK and indicate current movements in the housing market that is considered as a sensitive factor to the UK's economy. 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	PMI Construction	54.1	53.9	52.1
The PMI Construction released by the Chartered Institute of Purchasing & Supply and Markit Economics shows business conditions in the UK construction sector. It is worth noting that the construction sector does not influence, either positively or negatively, the GDP as much as the Manufacturing sector does A result that values above 50 signals appreciates (or is bullish for) the GBP, whereas a result that values below 50 is seen as negative (or bearish).
08:00	EUR	average	Producer Price Index (YoY)	3%	3.9%	4%
The Producer Price Index released by the Eurostat is an index that measures the change in prices received by domestic producers of commodities in all stages of processing (crude materials, intermediate materials, and finished goods). A high reading is seen positive (or bullish) for the EUR, while a low reading is seen as negative (or bearish).
08:00	EUR	average	Gross Domestic Product s.a. (YoY)	0.8%	1.7%	1.9%
The Gross Domestic Product released by the Eurostat is a measure of the total value of all goods and services produced by the Eurozone. The GDP is considered as a broad measure of the Eurozone economic activity and health. A rising trend has a positive effect on the EUR, while a falling trend is seen as negative (or bearish).
08:00	EUR	high	Gross Domestic Product s.a. (QoQ)	0.3%	1%	1%
The Gross Domestic Product released by the Eurostat is a measure of the total value of all goods and services produced by the Eurozone. The GDP is considered as a broad measure of the Eurozone economic activity and health. A rising trend has a positive effect on the EUR, while a falling trend is seen as negative (or bearish ).
08:00	EUR	average	Producer Price Index (MoM)	0.3%	0.3%	0.2%
The Producer Price Index released by the Eurostat is an index that measures the change in prices received by domestic producers of commodities in all stages of processing (crude materials, intermediate materials, and finished goods). A high reading is seen positive (or bullish) for the EUR, while a low reading is seen as negative (or bearish).
08:00	EUR	low	Household Consumption (QoQ)	-0.1%		0.5%
Household Consumption (QoQ)
10:45	EUR	average	ECB Interest Rate Decision	1%	1%	1%
ECB Interest Rate Decision is announced by the European Central Bank. If the ECB is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the EUR. Likewise, if the ECB has a dovish view on the European economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish. Review Alex Nekritin's Article - Trading the Euro with the ECB Rate Decision
11:30	USD	average	Continuing Jobless Claims	4479K	4400K	4456K
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	Unit Labor Costs	-3.7%	1.4%	1.1%
The Unit Labor Cost released by the Bureau of Labor Statistics, Department of Labor shows a total cost of employing a labor force. It can serve as an indicator of trends in production costs, share prices, and inflation. 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	Nonfarm Productivity	3.9%	-2%	-1.8%
The Non-farm Productivity released by the Bureau of Labor Statistics of the US Department of Labor shows the output per Hour of labor worked. Non-farm Productivity indicates the overall business health in the US, which has an influence on GDP. A high reading is positive (or bullish) for the USD, while a low reading is negative (or bearish).
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).
11:30	USD	average	Initial Jobless Claims	478K	478K	472K
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.
12:00	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.
13:00	USD	average	Factory Orders	-1.2%	0.5%	0.1%
The Factory orders released by the US Census Bureau is a measure of the total orders of durable and non durable goods such as shipments (sales), inventories and orders at the manufacturing level which can offer insight into inflation and growth in the manufacturing sector. Normally, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).
13:00	USD	high	Pending Home Sales (MoM)	-2.6%	-1.5%	5.2%
The Pending Home Sales released by the National Association of Realtors is a leading indicator of trends of the housing market in the US It captures residential housing contract activity of existing single-family homes. 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 seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).
22:30	AUD	average	AiG Performance of Services Index	46.6		47.5
AiG Performance of Services Index released by the Australian Industry Group presents business conditions in the Australian service sector. The group surveys 200 manufacturers on their assessment of the business situation including employment, production, orders, prices, and inventories, and their short-term planning. A result above 50 is seen as positive (or bullish) for the AUD, whereas a result below 50 is seen as negative (or bearish).
22:50	JPY	low	Capital Spending	-11.5%		-1.7%
Capital Spending released by the Ministry of Finance Japan measures change in the total value of capital expenditures by enterprises. It is considered as an early indicator of economic health in Japan. A high reading is seen as positive or bullish for the JPY, while a low reading is seen as negative or bearish.

3 September 2010, Friday

	Currency	Value	Event	Prev.	Forecast	Real
06:15	CHF	low	Consumer Price Index (MoM)	-0.7%
The Consumer Price Index, issued by the Swiss Federal Statistical Office, measures the average price change for all goods and services purchased by households for consumption purposes. CPI is the main indicator to measure inflation and changes in purchasing trends.The purchase power of CHF is dragged down by inflation. A high reading is positive for the CHF, while a low reading is negative.
06:15	CHF	low	Consumer Price Index (YoY)	0.4%	0.4%	0.3%
The Consumer Price Index, issued by the Swiss Federal Statistical Office, measures the average price change for all goods and services purchased by households for consumption purposes. CPI is the main indicator to measure inflation and changes in purchasing trends.The purchase power of CHF is dragged down by inflation. A high reading is positive for the CHF, while a low reading is negative.
06:55	EUR	low	Purchasing Manager Index Services	58.5	58.5	57.2
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	PMI Composite	54.7	56.1
The Composite Manufacturing Purchasing Managers Index (PMI) released by Markit Research captures business conditions in the manufacturing sector. The Manufacturing PMI is an important indicator of business conditions and the overall economic condition in EU. A result that values above 50 signals appreciates (or is bullish for ) the EUR, whereas a result that values below 50 is seen as negative (or bearish).
07:00	EUR	average	Purchasing Manager Index Services	55.6	55.6	55.9
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	average	Change in Official Reserves
Change in Official Reserves
07:30	GBP	low	Purchasing Manager Index Services	53.1	52.8	51.3
The PMI service released by both the Chartered Institute of Purchasing & Supply and the Markit Economics is an indicator of the economic situation in the UK services sector. It captures an overview of the condition of sales and employment. It is worth noting that the UK service sector does not influence, either positively or negatively, the GDP as much as the Manufacturing PMI does. Traders want the highest possible reading as that will be taken as positive for the GBP. Any reading above 50 signals expansion, while a reading under 50 shows contraction.
08:00	EUR	average	Retail Sales (MoM)	0.2%	0.2%	0.1%
The Retail Sales released by the Eurostat is a measure of changes in sales of the German retail sector. It shows the performance of the retail sector in the short term. Percent changes reflect the rate of changes of such sales.The changes are widely followed as an indicator of consumer spending. The positive economic growth anticipates "Bullish" for the EUR, while a low reading is seen as negative, or bearish, for the EUR.
08:00	EUR	average	Retail Sales (YoY)	1.2%	0.6%	1.1%
The Retail Sales released by the Eurostat is a measure of changes in sales of the German retail sector. It shows the performance of the retail sector in the short term. Percent changes reflect the rate of changes of such sales.The changes are widely followed as an indicator of consumer spending. The positive economic growth anticipates "Bullish" for the EUR, while a low reading is seen as negative, or bearish, for the EUR.
11:30	USD	high	Nonfarm Payrolls	-54K	-105K	-54K
The nonfarm payrolls released by the US Department of Labor is one of the most important data. The report presents the number of people on the payrolls of all non-agricultural businesses. The monthly changes in payrolls can be excessively volatile. Generally soeaking, 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	high	Change in Manufacturing Payrolls		7
Change in Manufacturing Payrolls
11:30	USD	high	Unemployment Rate	9.5%	9.6%	9.6%
The Unemployment Rate released by the US Department of Labor is the number of unemployed workers divided by the total civilian labor force. If the rate is up, it indicates a lack of expansion within the US economy. Therefore, a decrease of the figure is seen as positive (or bullish) for the USD, while an increase is seen as negative (or bearish).
11:30	USD	low	Average Weekly Hours	34.2	34.2	34.2
The Average Weekly Hours released by the US Department of Labor is an indicator of labor cost inflation and of the tightness of labor markets. The Federal Reserve Board pays close attention to when setting interest rates. Excessive volatility is expected.
11:30	USD	low	Average Hourly Earnings (YoY)	1.8%	1.8%	1.7%
The Average Hourly Earning released by the US Department of Labor is a significant indicator of labor cost inflation and of the tightness of labor markets. The Federal Reserve Board pays close attention to when setting interest rates. A high reading is also positive for the USD, while a low reading is negative.
11:30	USD	low	Average Hourly Earnings (MoM)	0.2%	0.1%	0.3%
The Average Hourly Earning released by the US Department of Labor is a significant indicator of labor cost inflation and of the tightness of labor markets. The Federal Reserve Board pays close attention to when setting interest rates. A high reading is also positive for the USD, while a low reading is negative.
13:00	USD	average	ISM Non-Manufacturing	54.3	53.5	51.5
The ISM Non-Manufacturing Index released by the Institute for Supply Management (ISM) shows business conditions in the US non-manufacturing sector. It is worth noting that the non-manufacturing sector does not influence, either positively or negatively, the GDP as much as the ISM Manufacturing does. A result above 50 is positive (or bullish) for the USD.

4 September 2010, Saturday

	Currency	Value	Event	Prev.	Forecast	Real
11:30	USD	average	Trade Balance	-$49.76B	-$48B	-$42.78B
The Trade Balance released by the Bureau of Economic Analysis and the U.S. Census Bureau 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 USD. If a steady demand in exchange for US exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the USD. Review Alex Nekritin's Article - Trading US Dollar with US Trade Balance

5 September 2010, Sunday

	Currency	Value	Event	Prev.	Real
23:30	AUD	low	TD Securities Inflation (YoY)	2.8%	3%
TD Securities Inflation released by The University of Melbourne - Faculty of Economics and Commerce estimates inflation in the Australian economy. The higher inflation, the stronger the effect it will have on a probability of a rate hike by the RBA. Generally speaking, a high reading should be taken as positive, or bullish, for the AUD, while a low reading is seen as negative or bearish.
23:30	AUD	low	TD Securities Inflation (MoM)	0.1%	0.2%
TD Securities Inflation released by The University of Melbourne - Faculty of Economics and Commerce estimates inflation in the Australian economy. The higher inflation, the stronger the effect it will have on a probability of a rate hike by the RBA. Generally speaking, a high reading should be taken as positive, or bullish, for the AUD, while a low reading is seen as negative or bearish.
22:30	AUD	low	AiG Performance of Construction Index	43.3	43.2
Based on 120 interviews to companies, the HIA/AiG Performance of Construction Index, released by the Australian Industry Group and the Housing Industry Association, is considered as an indicator that measures the conditions on the short and medium term in the construction market. Companies answer questions related to production, employment, prices supplier deliveries, inventories and new orders. A high reading is seen as positive, or bullish for the AUD, while a low reading is seen as negative, or bearish.

Economic calendar

30 August 2010, Monday

31 August 2010, Tuesday

1 September 2010, Wednesday

2 September 2010, Thursday

3 September 2010, Friday

4 September 2010, Saturday

5 September 2010, Sunday

6 September 2010, Monday

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	Currency	Value	Event
23:00	CAD	common/calendar/impacts/	Labour Day
Banks will be closed due to Labour Day bank holiday.
23:00	USD	common/calendar/impacts/	Labor Day
Labor Day is a United States federal holiday observed on the first Monday in September. The holiday originated in 1882 as the Central Labor Union (of New York City) sought to create "a day off for the working citizens". Congress made Labor Day a federal holiday in 1894.[1] All fifty states have made Labor Day a state holiday. Traditionally, Labor Day is celebrated by most Americans as the symbolic end of the summer.

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