Forex calendar
Monday, 22 February 2010
| Time | Currency | Economic impact | Event | Prev. | Forecast | Fact. |
|---|---|---|---|---|---|---|
| 03:30 | AUD | medium | New Motor Vehicle Sales m/m | 3.1% | -3.4% | |
| Measures: Change in the number of new cars and trucks sold domestically; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 21 days after the month ends; Next Release: Mar 22, 2010 Why Traders Care: It's a sign of consumer confidence - rising demand for expensive durable goods shows that consumers are confident in their future financial position and feel comfortable spending money; | ||||||
Tuesday, 23 February 2010
| Time | Currency | Economic impact | Event | Prev. | Forecast | Fact. |
|---|---|---|---|---|---|---|
| 02:50 | JPY | medium | Monetary Policy Meeting Minutes | |||
| Usual Effect: More hawkish than expected = Good for currency; Frequency: Variable, about 14 times per year, 30-50 days after the Overnight Call Rate is announced; Next Release: Mar 23, 2010 Why Traders Care: It's a detailed record of the BOJ Policy Board's meeting, providing in-depth insights into the economic conditions that influenced their decision on where to set interest rates; Acro Expand: Bank of Japan (BOJ); | ||||||
| 10:00 | AUD | medium | RBA Deputy Gov Battellino Speaks | |||
| Speaker: RBA Deputy Governor Ric Battellino; Description: Due to speak at the Clayton Utz Seminar, in Sydney; Usual Effect: More hawkish than expected = Good for currency; FF Notes: Reserve Bank Board member Feb 2007 - Feb 2012; Why Traders Care: RBA Board members are responsible for setting the nation's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy; Acro Expand: Reserve Bank of Australia (RBA); | ||||||
| 10:00 | CHF | medium | UBS Consumption Indicator | 1.19 | 1.36 | |
| — | ||||||
| 10:45 | EUR | medium | French Consumer Spending m/m | 1.3% | -0.6% | -2.7% |
| Measures: Change in the total value of inflation-adjusted goods expenditures by consumers; Frequency: Released monthly, about 23 days after the month ends; Next Release: Mar 23, 2010 Why Traders Care: It's the primary gauge of consumer spending, which accounts for the majority of overall economic activity; | ||||||
| 10:45 | EUR | low | French CPI m/m | 0.3% | -0.3% | -0.2% |
| Measures: Change in the price of goods and services purchased by consumers; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 14 days after the month ends; Next Release: Mar 15, 2010 FF Notes: Tends to have a muted impact because there are several earlier indicators related to Eurozone consumer inflation; Acro Expand: Consumer Price Index (CPI); | ||||||
| 12:00 | EUR | high | German Ifo Busi 3e8 ness Climate | 95.8 | 96.2 | 95.2 |
| Measures: Level of a composite index based on surveyed manufacturers, builders, wholesalers, and retailers; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, around 3 weeks into the current month; Next Release: Mar 23, 2010 FF Notes: This survey is highly respected due to it's large sample size and historic correlation with German and wider Eurozone economic conditions. It tends to create a hefty market impact upon release; Why Traders Care: It's a leading indicator of economic health - businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment; Derived Via: Survey of about 7,000 businesses which asks respondents to rate the relative level of current business conditions and expectations for the next 6 months; Acro Expand: Information and Forschung (Ifo); | ||||||
| 12:15 | GBP | high | Inflation Report Hearings | |||
| Speaker: BOE Governor and MPC members; Usual Effect: More hawkish than expected = Good for currency; Frequency: Quarterly; Next Release: Jun 15, 2010 FF Notes: During these hearings the BOE Governor and several MPC members testify on inflation and the economic outlook before Parliament's Treasury Committee. The hearings are a few hours in length and can create market volatility for the duration. Especially noted are the direct comments made about the currency markets; Why Traders Care: BOE MPC members vote on where to set the nation's key interest rates and their public engagements are often used to 3e8 drop subtle clues regarding future monetary policy; Also Called: Treasury Committee Hearings, Select Committee Hearings; Acro Expand: Bank of England (BOE), Monetary Policy Committee (MPC); | ||||||
| 12:30 | GBP | medium | BBA Mortgage Approvals | 45.7K | 45.3K | 35.1K |
| Measures: Number of new mortgages approved for home purchase by BBA-represented banks during the previous month; Frequency: Released monthly, about 24 days after the month ends; Next Release: Mar 23, 2010 Why Traders Care: It's a leading indicator of housing market demand – most home purchases are financed with a mortgage, so it provides an excellent gauge of how many qualified buyers are entering the market; Acro Expand: British Bankers' Association (BBA); | ||||||
| 15:10 | GBP | medium | MPC Member Tucker Speaks | |||
| Speaker: BOE Deputy Governor Paul Tucker; Description: Due to speak at the 27th Annual State of the Economy Conference, in London; Usual Effect: More hawkish than expected = Good for currency; FF Notes: MPC voting member Jun 2002 - May 2011. In Mar 2009 his title changed from Executive Director to Deputy Governor; Why Traders Care: BOE MPC members vote on where to set the nation's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy; Acro Expand: Bank of England (BOE), Monetary Policy Committee (MPC); | ||||||
| 17:00 | EUR | medium | Belgium NBB Business Climate | -7.0 | -4.9 | -7.0 |
| — | ||||||
| 17:00 | USD | medium | S&P/CS Composite-20 HPI y/y | -5.3% | -3.0% | -3.1% |
| Measures: Change in the selling price of single-family homes in 20 metropolitan areas; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 60 days after the month ends; Next Release: Mar 30, 2010 FF Notes: Source first released in Dec 2006; Why Traders Care: It's a leading indicator of the housing industry's health because rising house prices attract investors and spur industry activity; Acro Expand: Standard & Poor's (S&P), Case-Shiller (CS), House Price Index (HPI); | ||||||
| 18:00 | USD | high | CB Consumer Confidence | 56.5 | 55.0 | 46.0 |
| Measures: Level of a composite index based on surveyed households; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, on the last Tuesday of the current month; Next Release: Mar 30, 2010 Why Traders Care: Financial confidence is a leading indicator of consumer spending, which accounts for a majority of overall economic activity; Derived Via: Survey of about 5,000 households which asks respondents to rate the relative level of current and future economic conditions including labor availability, business conditions, and overall economic situation; Acro Expand: The Conference Board (CB); | ||||||
| 18:00 | USD | low | Richmond Manufacturing Index | |||
| Measures: Level of a composite index based on surveyed manufacturers in Richmond; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, on the fourth Tuesday of the current month; Next Release: Mar 23, 2010 FF Notes: Above 0 indicates improving conditions, below indicates worsening conditions. Tends to have a muted impact because there are earlier regional indicators related to manufacturing conditions; Derived Via: Survey of about 100 manufacturers in the Richmond area which asks respondents to rate the relative level of business conditions including shipments, new orders, and employment; Also Called: Richmond Fed Index, Manufacturing Activity Index, Composite Manufacturing Index; | ||||||
Wednesday, 24 February 2010
| Time | Currency | Economic impact | Event | Prev. | Forecast | Fact. |
|---|---|---|---|---|---|---|
| 01:05 | USD | medium | FOMC Member Bullard Speaks | |||
| Speaker: Federal Reserve Bank of St Louis President James Bullard; Description: Due to deliver a speech titled "Will Regulatory Reform Prevent Future Crisis?" at the Chartered Financial Analysts (CFA) Society, in Richmond. Audience questions expected; Usual Effect: More hawkish than expected = Good for currency; Next Release: Feb 26, 2010 FF Notes: 2010 FOMC voting member; Why Traders Care: Federal Reserve FOMC members vote on where to set the nation's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy; Acro Expand: Federal Open Market Committee (FOMC); | ||||||
| 02:50 | JPY | medium | Trade Balance | 0.66T | 0.51T | 0.73T |
| Measures: Difference in value between imported and exported goods during the reported month; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 23 days after the month ends; Next Release: Mar 24, 2010 FF Notes: This is the seasonally adjusted data (as most FF numbers are), not to be confused with the non-seasonally adjusted number reported by some news agencies. A positive number indicates that more goods were exported than imported; Why Traders Care: Export demand and currency demand are directly linked because foreigners must buy the domestic currency to pay for the nation's exports. Export demand also impacts production and prices at domestic manufacturers; Also Called: Adjusted Merchandise Trade Balance; | ||||||
| 02:50 | JPY | low | CSPI y/y | -1.5% | -1.1% | -1.0% |
| Measures: Change in the price of services purchased by corporations; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 25 days after the month ends; Next Release: Mar 25, 2010 Why Traders Care: It's a leading indicator of consumer inflation - when corporations pay more for services the higher costs are usually passed on to the consumer; Acro Expand: Corporate Services Price Index (CSPI); | ||||||
| 03:30 | AUD | medium | Construction Work Done q/q | 1.6% | 2.1% | 2.6% |
| Measures: Change in the total inflation-adjusted value of construction projects completed; Usual Ef 3e8 fect: Actual > Forecast = Good for currency; Frequency: Released quarterly, about 60 days after the quarter ends; Next Release: May 26, 2010 FF Notes: This release gives insight into the GDP data which is released about a week later; Why Traders Care: It's an important gauge of the construction industry, which has a sizable impact on overall employment and spending; | ||||||
| 10:00 | EUR | medium | GfK German Consumer Climate | 3.3 | 3.1 | 3.2 |
| — | ||||||
| 10:00 | EUR | low | German Final GDP q/q | 0.0% | 0.0% | 0.0% |
| Measures: Change in the inflation-adjusted value of all goods and services produced by the economy; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released quarterly, about 55 days after the quarter ends; Next Release: May 25, 2010 FF Notes: The 'Previous' listed is the 'Actual' from the Preliminary release and therefore the 'History' data will appear unconnected. There are 2 versions of GDP released about 10 days apart - Preliminary and Final. The Preliminary release is the earliest and thus tends to have the most impact; Acro Expand: Gross Domestic Pr 3e8 oduct (GDP); | ||||||
| 12:00 | EUR | low | Italian Retail Sales m/m | 0.0% | 0.1% | 0.0% |
| Measures: Change in the total value of sales at the retail level; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 55 days after the month ends; Next Release: Mar 25, 2010 Why Traders Care: It's the primary gauge of consumer spending, which accounts for the majority of overall economic activity; | ||||||
| 12:25 | GBP | medium | MPC Member Posen Speaks | |||
| Speaker: External BOE MPC Member Adam Posen; Description: Due to participate in a panel discussion at the Euromoney Bond Investors Congress, London; Usual Effect: More hawkish than expected = Good for currency; FF Notes: MPC voting member Sep 2009 - Aug 2012; Why Traders Care: BOE MPC members vote on where to set the nation's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy; Acro Expand: Bank of England (BOE), Monetary Policy Committee (MPC); | ||||||
| 13:00 | EUR | medium | Industrial New Orders m/m | 2.7% | -1.1% | 0.8% |
| Measures: Change in the total value of new purchase orders placed with manufacturers; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 55 days after the month ends; Next Release: Mar 24, 2010 Why Traders Care: It's a leading indicator of production - rising purchase orders signal that manufacturers will increase activity as they work to fill the orders; | ||||||
| 16:30 | CAD | low | Corporate Profits q/q | 7.9% | 7.9% | |
| — | ||||||
| 18:00 | USD | high | Fed Chairman Bernanke Testifies | |||
| Speaker: Federal Reserve Chairman Ben Bernanke; Description: Due to testify on the semi-annual monetary policy report before the Financial Services Committee, in Washington DC; Usual Effect: More hawkish than expected = Good for currency; Next Release: Feb 25, 2010 FF Notes: The testimony usually comes in 2 parts: first he reads a prepared statement (a text version is made available on the Fed's website at the start), then the committee will hold a question and answer session. Since the questions are not known beforehand they can make for some unscripted moments that lead to heavy market volatility; Why Traders Care: As head of the central bank, which controls short term interest rates, he has more influence over the nation's currency value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy; Acro Expand: Federal Reserve (Fed); | ||||||
| 18:00 | USD | high | New Home Sales | 348K | 354K | 309K |
| Measures: Annualized number of new single-family homes that were sold during the previous month; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 25 days after the month ends; Next Release: Mar 24, 2010 FF Notes: While this is monthly data, it's reported in an annualized format (monthly figure x12). Tends to have more impact when it's released ahead of Existing Home Sales because the reports are tightly correlated; Why Traders Care: It's a leading indicator of economic health because the sale of a new home triggers a wide-reaching ripple effect. For example, furniture and appliances are purchased for the home, a mortgage is sold by the financing bank, and brokers are paid to execute the transaction; | ||||||
| 18:00 | USD | medium | Treasury Sec Geithner Speaks | |||
| Speaker: US Treasury Secretary Timothy Geithner; Description: Due to testify on the fiscal 2011 budget before the House Budget Committee, in Washington DC; FF Notes: US Treasury Secretary Jan 2009 - Jan 2013. He speaks frequently on a broad range of subjects - only speeches that might have direct market impact are listed on the calendar; Why Traders Care: It's the Treasury Secretary's job to communicate the US President's economic policies, and his speeches are often used to signal policy shifts to the public and to foreign governments; | ||||||
| 18:30 | USD | medium | Crude Oil Inventories | 3.1M | 1.8M | 3.0M |
| Measures: Change in the number of barrels of crude oil held in inventory by commercial firms during the past week; Usual Effect: No consistent effect - there are both inflationary and growth implications; Frequency: Released weekly, 4 days after the week ends; Next Release: Mar 3, 2010 FF Notes: While this is a US indicator, it most affects the loonie due to Canada's sizable energy sector; Why Traders Care: It influences the price of petroleum products which affects inflation, but also impacts growth as many industries rely on oil to produce goods; Also Called: Crude Stocks, Crude Levels; Acro Expand: Energy Information Administration (EIA); | ||||||
Thursday, 25 February 2010
| Time | Currency | Economic impact | Event | Prev. | Forecast | Fact. |
|---|---|---|---|---|---|---|
| 02:00 | AUD | medium | CB Leading Index m/m | -0.3% | 0.6% | |
| Measures: Change in the level of a composite index based on 7 economic indicators; Frequency: Released monthly, about 55 days after the month ends; Next Release: Mar 25, 2010 FF Notes: This index is designed to predict the direction of the economy, but it tends to have a muted impact because most of the indicators used in the calculation are released previously; Derived Via: Combined reading of 7 economic indicators related to money supply, building approvals, profits, exports, inventories and interest rate spreads; Also Called: Leading Indicators; Acro Expand: The Conference Board (CB); | ||||||
| 03:30 | AUD | high | Private Capital Expenditure q/q | -5.2% | 1.5% | 5.5% |
| Measures: Change in the total inflation-adjusted value of new capital expenditures made by private businesses; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released quarterly, about 55 days after the quarter ends; Next Release: May 27, 2010 Why Traders Care: It's a leading indicator of economic health - businesses are quickly affected by market conditions, and changes in their investment levels can be an early signal of future economic activity such as hiring, spending, and earnings; | ||||||
| 05:00 | NZD | high | NBNZ Business Confidence | 38.5 | 50.1 | |
| Measures: Level of a diffusion index based on surveyed manufacturers, builders, retailers, agricultural firms, and service providers; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, excluding January, around the end of the current month; Next Release: Mar 31, 2010 FF Notes: Above 0.0 indicates optimism, below indicates pessimism; Why Traders Care: It's a leading indicator of economic health - businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment; Derived Via: Survey of about 1,500 businesses which asks respondents to rate the relative 12-month economic outlook; | ||||||
| 11:15 | CHF | medium | 3e8 Employment Level | 3.96M | 3.95M | 3.96M |
| Measures: Number of employed people during the previous quarter; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released quarterly, about 55 days after the quarter ends; Next Release: May 25, 2010 FF Notes: Released very late which tends to mute the impact; Why Traders Care: Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity; | ||||||
| 11:55 | EUR | medium | German Unemployment Change | 5K | 18K | 7K |
| Measures: Change in the number of unemployed people during the previous month; Usual Effect: Actual < Forecast = Good for currency; Frequency: Released monthly, about 30 days after the month ends; Next Release: Mar 31, 2010 FF Notes: Data is prone to early leaks by news agencies. Leaks will be reported on the calendar but will be retracted if deemed incorrect; Why Traders Care: Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor conditions; Also Called: Jobless People; | ||||||
| 12:00 | EUR | low | Private Loans y/y | -0.1% | 0.1% | -0.6% |
| Measures: Change in the total value of new loans issued to consumers and businesses in the private sector; Us 3e8 ual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 28 days after the month ends; Next Release: Mar 25, 2010 FF Notes: Source first released in Aug 2003; Why Traders Care: Borrowing and spending are positively correlated - consumers and businesses tend to seek credit when they are confident in their future financial position and feel comfortable spending money; | ||||||
| 12:00 | EUR | medium | M3 Money Supply y/y | -0.3% | 0.1% | 0.1% |
| Measures: Change in the total quantity of domestic currency in circulation and deposited in banks; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 28 days after the month ends; Next Release: Mar 25, 2010 FF Notes: Source changed series calculation formula as of May 2001; Why Traders Care: It's positively correlated with interest rates - early in the economic cycle an increasing supply of money leads to additional spending and investment, and later in the cycle expanding money supply leads to inflation; | ||||||
| 12:30 | GBP | medium | Prelim Business Investment q/q | -0.6% | 0.2% | -5.8% |
| Measures: Change in the total inflation-adjusted value of capital investments made by businesses and the government; Frequency: Released quarterly, about 55 days after the quarter ends; Next Release: May 21, 2010 FF Notes: There are 2 versions of this report released about a month apart – Preliminary and Revised. The Preliminary release is the earliest and thus tends to have the most impact; Why Traders Care: It's a leading indicator of economic health - businesses are quickly affected by market conditions, and changes in their investment levels can be an early signal of futu 3e8 re economic activity such as hiring, spending, and earnings; Also Called: Total Business Investment; | ||||||
| 12:30 | GBP | high | BOE Gov King Speaks | |||
| Speaker: BOE Governor Mervyn King; Description: Due to testify about the future of banking at the Banking Commission Hearing, in London; Usual Effect: More hawkish than expected = Good for currency; Next Release: May 12, 2010 FF Notes: BOE Governor Jul 2003 - Jun 2013. Volatility is often experienced during his speeches as traders attempt to decipher interest rate clues; Why Traders Care: As head of the central bank, which controls short term interest rates, he has more influence over the nation's currency value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy; Acro Expand: Bank of England (BOE); | ||||||
| 13:00 | EUR | low | Consumer Confidence | -16 | -17 | -17 |
| Measures: Level of a diffusion index based on surveyed consumers; Frequency: Released monthly, about 30 days after the month ends; Next Release: Mar 29, 2010 FF Notes: Above 0 indicates optimism, below indicates pessimism; Why Traders Care: Financial confidence is a leading indicator of consumer spending, which accounts for a majority of overall economic activity; Derived Via: Survey of about 2,300 consumers in Eurozone countries which asks respondents to rate the relative level of past and future economic conditions, including personal financial situation, employment, inflation, and climate for major purchases; | ||||||
| 15:45 | GBP | high | CBI Realized Sales | -8 | -1 | 23 |
| Measures: Level of a diffusion index based on surveyed retailers and wholesalers; Frequency: Released monthly, around the end of the current month; Next Release: Mar 25, 2010 FF Notes: Above 0 indicates higher sales volume, below indicates lower; Why Traders Care: It's a leading indicator of consumer spending because retailer and wholesaler sales are directly influenced by consumer buying levels; Derived Via: Survey of about 160 retail and wholesale companies which asks respondents to rate the relative level of current sales volume; Also Called: Distributive Trades Survey; Acro Expand: Con 3e8 federation of British Industry (CBI); | ||||||
| 15:45 | GBP | high | CBI Realized Sales | |||
| Measures the value of new purchase orders placed with domestic manufacturers for hard goods with a life expectancy of more than 3 years, such as automobiles, computers, appliances, and airplanes. | ||||||
| 16:30 | USD | high | Core Durable Goods Orders m/m | 2.0% | 1.1% | -0.6% |
| Measures: Change in the total value of new purchase orders placed with manufacturers for durable goods, excluding transportation items; Frequency: Released monthly, about 26 days after the month ends; Next Release: Mar 24, 2010 FF Notes: Orders for aircraft are volatile and can severely distort the underlying trend. The Core data is therefore thought to be a better gauge of purchase order trends; Why Traders Care: It's a leading indicator of production - rising purchase orders signal that manufacturers will increase activity as they work to fill the orders; Also Called: Durable Goods Orders Ex Transportation; | ||||||
| 16:30 | USD | high | Unemployment Claims | 474K | 461K | 496K |
| Measures: The number of individuals who filed for unemployment insurance for the first time during the past week; Usual Effect: Actual < Forecast = Good for currency; Frequency: Released weekly, 5 days after the week ends; Next Release: Mar 4, 2010 FF Notes: This is the nation's earliest economic data. The market impact fluctuates from week to week - there tends to be more focus on the release when traders need to diagnose recent developments, or when the reading is at extremes; Why Traders Care: Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor conditions; Also Called: Jobless Claims, Initial Claims; | ||||||
| 16:30 | USD | medium | Durable Goods Orders m/m | 1.9% | 1.6% | 3.0% |
| Measures: Change in the total value of new purchase orders placed with manufacturers for durable goods; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 26 days after the month ends; Next Release: Mar 24, 2010 FF Notes: This data is usually revised via the Factory Orders report released about a week later. Durable goods are defined as hard products having a life expectancy of more than 3 years, such as automobiles, computers, appliances, and airplanes; Why Traders Care: It's a leading indicator of production - rising purchase orders signal that manufacturers will increase activity as they work to fill the orders; | ||||||
| 16:35 | USD | medium | FOMC Member Pianalto Speaks | |||
| Speaker: Federal Reserve Bank of Cleveland President Sandra Pianalto; Description: Due to speak at the Chamber of Commerce Government Affairs Breakfast, in Dayton; Usual Effect: More hawkish than expected = Good for currency; FF Notes: FOMC voting member 2008 and 2010; Why Traders Care: Federal Reserve FOMC members vote on where to set the nation's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy; Acro Expand: Federal Open Market Committee (FOMC); | ||||||
| 17:00 | USD | high | Fed Chairman Bernanke Testifies | |||
| Speaker: Federal Reserve Chairman Ben Bernanke; Description: Due to testify on the semi-annual monetary policy report before the Senate Banking, Housing and Urban Affairs Committee, in Washington DC; Usual Effect: More hawkish than expected = Good for currency; FF Notes: The testimony usually comes in 2 parts: first he reads a prepared statement (a text version 3e8 is made available on the Fed's website at the start), then the committee will hold a question and answer session. Since the questions are not known beforehand they can make for some unscripted moments that lead to heavy market volatility; Why Traders Care: As head of the central bank, which controls short term interest rates, he has more influence over the nation's currency value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy; Acro Expand: Federal Reserve (Fed); | ||||||
| 18:00 | USD | low | HPI m/m | 0.4% | 0.6% | -1.6% |
| Measures: Change in the purchase price of homes with mortgages backed by Fannie Mae and Freddie Mac; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 55 days after the month ends; Next Release: Mar 23, 2010 FF Notes: Source began m/m frequency in Mar 2008; Why Traders Care: It's a leading indicator of the housing industry's health because rising house prices attract investors and spur industry activity; Acr 3e8 o Expand: House Price Index (HPI), Office of Federal Housing Enterprise Oversight (OFHEO); | ||||||
| 18:30 | USD | low | Natural Gas Storage | -190B | -165B | -172B |
| Measures: Change in the number of cubic feet of natural gas held in underground storage during the past week; Frequency: Released weekly, 5 days after the week ends; Next Release: Mar 4, 2010 FF Notes: While this is a US indicator, it most affects the loonie due to Canada's sizable energy sector; Also Called: Nat Gas Stocks, Nat Gas Inventories; | ||||||
Friday, 26 February 2010
| Time | Currency | Economic impact | Event | Prev. | Forecast | Fact. |
|---|---|---|---|---|---|---|
| 08:00 | JPY | low | Housing Starts y/y | -15.7% | -11.6% | -8.1% |
| Measures: Change in the number of new residential buildings that began construction; Usual Effect: Actual > Forecast = Good for currency; Frequency: Released monthly, about 30 days after the month ends; Next Release: Mar 31, 2010 Why Traders Care: It's a leading indicator of economic health because building construction produces a wide-reaching ripple effect. For example, jobs are created for the construction workers, subcontractors and inspectors are hired, and various construction services are purchased by the builder; Acro Expand: Ministry of Land, Infrastructure, Transport, and Tourism (MILT); | ||||||
| 16:30 | USD | medium | FOMC Member Hoenig Speaks | |||
| Speaker: Federal Reserve Bank of Kansas President Thomas Hoenig; Description: Due to speak about financial regulation at the call-in program "Washington Journal" to be televised on C-Span; Usual Effect: More hawkish than expected = Good for currency; FF Notes: 2010 FOMC voting member; Why Traders Care: Federal Reserve FOMC members vote on where to set the nation's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy; Acro Expand: Federal Open Market Committee (FOMC); | ||||||
| 17:00 | USD | low | FOMC Member Duke Speaks | |||
| Speaker: Federal Reserve Governor Elizabeth Duke; Description: Due to testify on small business lending before the Committee on Financial Services and the Committee on Small Business, in Washington DC; Usual Effect: More hawkish than expected = Good for currency; FF Notes: FOMC voting member Aug 2008 - Jan 2012; Why Traders Care: Federal Reserve FOMC members vote on where to set the nation's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy; Acro Expand: Federal Open Market Committee (FOMC); | ||||||
| 18:15 | USD | low | FOMC Member Dudley Speaks | |||
| Speaker: Federal Reserve Bank of New York President William Dudley; Description: Due to participate in a panel discussion at the annual US Monetary Policy Forum, in New York; Usual Effect: More hawkish than expected = Good for currency; FF Notes: FOMC voting member Jan 2009 - Jan 2020; Why Traders Care: Federal Reserve FOMC members vote on where to set the nation's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy; Acro Expand: Federal Open Market Committee (FOMC); | ||||||
Saturday, 27 February 2010
| Time | Currency | Economic impact | Event | Prev. | Forecast | Fact. |
|---|---|---|---|---|---|---|
| 06:10 | USD | low | FOMC Member Tarullo Speaks | |||
| Speaker: Federal Reserve Governor Daniel Tarullo; Description: Due to participate in a panel discussion titled "Financial Reform" at the US Monetary Policy Forum, in New York. Audience questions expected; Usual Effect: More hawkish than expected = Good for currency; FF Notes: FOMC voting member Jan 2009 - Jan 2022; Why Traders Care: Federal Reserve FOMC members vote on where to set the nation's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy; Acro Expand: Federal Open Market Committee (FOMC); | ||||||
