Date
GMT+01:00
Event
Aug, 23 10:30
10-y Bond Auction
10-y Bond Auction
Country:
Date: Aug, 23 10:30
Importance: Low
Previous: 0.49%; 1.5
Forecast: -
Actual: -
Period: Aug
10-y Bond Auction is a leading market demand and profitability indicator. Profit falls compared to the previous auctions generally have a favourable influence on the currency.
Aug, 23 14:05
★★
FOMC Member Robert Kaplan Speaks
FOMC Member Robert Kaplan Speaks
Country:
Date: Aug, 23 14:05
Importance: Medium
Previous: -
Forecast: -
Actual: -
Period: Aug
Federal Reserve Bank of Dallas President Robert Kaplan. 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.
Aug, 23 14:45
★★
Flash Manufacturing PMI
Flash Manufacturing PMI
Country:
Date: Aug, 23 14:45
Importance: Medium
Previous: 53.3
Forecast: 53.4
Actual: -
Period: Aug
It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy. Survey of about 600 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories. Above 50.0 indicates industry expansion, below indicates contraction. There are 2 versions of this report released about a week apart – Flash and Final. The Flash release, which the source first reported in May 2012, is the earliest and thus tends to have the most impact.
Aug, 23 14:45
Flash Services PMI
Flash Services PMI
Country:
Date: Aug, 23 14:45
Importance: Low
Previous: 54.7
Forecast: 55.0
Actual: -
Period: Aug
The Service PMI release is published monthly by Markit Economics. The data are based on surveys of over 400 executives in private sector service companies. The surveys cover transport and communication, financial intermediaries, business and personal services, computing & IT, hotels and restaurants. An index level of 50 denotes no change since the previous month, while a level above 50 signals an improvement, and below 50 indicates a deterioration. A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD.
Aug, 23 14:45
Flash Composite PMI
Flash Composite PMI
Country:
Date: Aug, 23 14:45
Importance: Low
Previous: 54.6
Forecast: -
Actual: -
Period: Aug
An index level of 50 denotes no change since the previous month, while a level above 50 signals an increase or improvement, and below 50 indicates a decrease or deterioration.
Aug, 23 15:00
Consumer Confidence
Consumer Confidence
Country:
Date: Aug, 23 15:00
Importance: Low
Previous: -1.7
Forecast: -1.8
Actual: -
Period: Aug

Consumer confidence is a measure of popular sentiment concerning the Eurozone economy. The figure is derived from a survey that asks thousands of consumers about personal expenditure patterns and inflationary expectations. In general, rising consumer confidence precedes increased consumer spending, which drives both economic growth and inflation. Even though t he Italian economy is heavily driven by its export sector, domestic consumer confidence is an important gauge of overall economic activity and future inflationary pressures.

A headline figure above 50 shows positive consumer sentiment, while a number below 50 shows negative consumer sentiment; the greater the distance, the stronger the sentiment.

Aug, 23 15:00
★★
New Home Sales
New Home Sales
Country:
Date: Aug, 23 15:00
Importance: Medium
Previous: 610K; 0.8% m/m
Forecast: 611K; 0.0% m/m
Actual: -
Period: Jul

Records sales of newly constructed residences in the United States. The figure is a timely gauge of housing market conditions counting home sales when initial housing contracts are signed. Because New Home Sales usually trigger a sequence of consumption, they have significant market impact upon release. In addition to the high expenditure of the new home, buyers are likely to spend more money on furnishing customizing and financing their home. Consequently, growth in the housing market spurs more consumption, generating demand for goods, services and the employees who provide them.

Generally, the housing market is tracked by a number of reports that mark different stages of the construction and home sale process. The first stage is Building Permits, which precede Housing Starts, which lead to Construction Spending, MBA Mortgage Applications and, finally, New Home Sales and Existing Home Sales. As the headline housing figure, New Home Sales are believed to control some of the volatility of other data. For instance, Building Permits and Housing Starts are considered more indicative of business confidence and production rather than consumer spending. And while Existing Home Sales figures are more indicative of consumer expenditures, they are lagging indicators with less predictive value. New Home Sales numbers are considered confirmatory of housing trends and still predictive of consumer spending.

New Home Sales is also a good indicator of economic turning points due to its sensitivity to consumer income. Buying a house is always a major expenditure, typically only undertaken when consumers have sufficient savings or are optimistic about future earnings. Historically, when economic conditions slow, New Home Sales are one of the first indicators to reflect the change. By the same token, New Home Sales undergo substantial growth when the economy has emerged from recession and wages have begun to pick up.

The report headline is the total amount of properties sold.

Aug, 23 15:30
★★
Crude Oil Inventories
Crude Oil Inventories
Country:
Date: Aug, 23 15:30
Importance: Medium
Previous: -8945K
Forecast: -3300K
Actual: -
Period: Aug

The actual inventories of crude oil, gasoline, and distillate, such as jet fuel, as reported on a weekly basis. The numbers are watched closely by the energy markets, and if the results differ greatly from the expected inventory levels, the market can react strongly. The inventory data can be skewed by holidays and seasonal factors. Weekly data can be unreliable and should be viewed as a part of longer-term trends, so a four-week moving average may be more useful.

Aug, 23 23:45
★★
Trade Balance
Trade Balance
Country:
Date: Aug, 23 23:45
Importance: Medium
Previous: 242M; -3661M
Forecast: -200M; -3507M
Actual: -
Period: Jul

A country's trade balance reflects the difference between exports and imports of goods and services. The trade balance is one of the biggest components of the Balance of Payment, giving valuable insight into pressures on country's currency.

Surpluses and Deficits
A positive Trade Balance (surplus) indicates that exports are greater than imports. When imports exceed exports, the country experiences a trade deficit. Because foreign goods are usually purchased using foreign currency, trade deficits usually reflect currency leaking out of the country. Such currency outflows may lead to a natural depreciation unless countered by comparable capital inflows (inflows in the form of investments, FDI - where foreigners investing in local equity, bond or real estates markets). At a bare minimum, deficits fundamentally weigh down the value of the currency.

Ramifications of Trade Balance on Markets
There are a number of factors that work to diminish the market impact of Trade Balance upon immediate release. The report is not very timely, coming some time after the reporting period. Developments in many of the figure's components are also typically anticipated well beforehand. Lastly, since the report reflects data for a specific reporting month or quarter, any significant changes in the Trade Balance should plausibly have already been felt during that period - and not during the release of data.

However, because of the overall significance of Trade Balance data in forecasting trends in the Forex Market, the release has historically been one of the most important reports out of the any country.

Aug, 24 08:00
GDP
GDP
Country:
Date: Aug, 24 08:00
Importance: Low
Previous: 0.9% q/q; 3.1% y/y
Forecast: 0.9% q/q; 3.1% y/y
Actual: -
Period: 2 quarter

The Gross Domestic Product is a comprehensive measure of an overall production and consumption of goods and services. GDP serves as one of the primary measures of overall economic well-being. While GDP announcements generally conform to expectations, unanticipated changes in this metric can move markets.

Robust GDP growth signals a heightened level of economic activity and often a higher demand for the domestic currency. At the same time, economic expansion raises concerns about inflationary pressures which may lead monetary authorities to increase interest rates. Thus better than expected GDP figures are generally bullish for the Euro, while negative readings are generally bearish.

Technically, Gross Domestic Product is calculated in the following way:

GDP = C + I + G + (EX - IM)

where

C = private consumption, I = private investment, G = government expenditure, EX = exports of goods and services, IM = imports of goods and services.

French GDP figures, officially called Quarterly National Accounts, are released quarterly. The headline figures are annualized percentage changes in real and nominal GDP.

Aug, 24 09:30
★★
Second Estimate GDP
Second Estimate GDP
Country:
Date: Aug, 24 09:30
Importance: Medium
Previous: 0.3% q/q; 1.7% y/y
Forecast: 0.3% q/q; 1.7% y/y
Actual: -
Period: 2 quarter
Change in the inflation-adjusted value of all goods and services produced by the economy. It's the broadest measure of economic activity and the primary gauge of the economy's health.
Aug, 24 09:30
★★
Business Investment
Business Investment
Country:
Date: Aug, 24 09:30
Importance: Medium
Previous: 0.6% q/q; 0.7% y/y
Forecast: -0.1%q/q; 0.3% y/y
Actual: -
Period: 2 quarter

The change in capital expenditures made by private firms. Businesses only invest when they are optimistic about future economic growth and expect a profitable return on their investments. Because of this, increased capital expenditures usually reflect a higher level of consumer demand that induces companies to expand their productive capacity. Current Business Investment usually allow for higher GDP in the future. For these reasons Business Investment may lead economic growth.

The headline number is the percentage change in investment from the previous quarter.

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