Date
GMT+01:00
Event
May, 27 00:30
National CPI
National CPI
Country:
Date: May, 27 00:30
Importance: Low
Previous: 2.5%
Forecast: 2.4%
Actual: -
Period: May

National Consumer Price Index (CPI) is the key gauge for inflation in Japan. Simply put, inflation reflects a decline in the purchasing power of the Yen, where each Yen buys fewer goods and services. In terms of measuring inflation, CPI is the most obvious way to quantify changes in purchasing power. The report tracks changes in the price of a basket of goods and services that a typical Japanese household might purchase. An increase in the index indicates that it takes more Yen to purchase this same set of basic consumer items.

Markets will typically pay more attention to "CPI excluding Fresh Food," because it excludes volatile food prices that can distort overall CPI. The headline figure for CPI is the percentage change in the index on a month to month or year to year basis.

As the most important indicator of inflation, CPI figures are closely followed by the Bank of Japan. Rising Consumer Prices may prompt the BoJ to raise interest rates in order to manage inflation and slow economic growth. Higher interest rates make holding the Yen more attractive to foreign investors, and this higher level of demand will place upward pressure on the value of the Yen.

May, 27 00:30
National CPI ex Fresh Food
National CPI ex Fresh Food
Country:
Date: May, 27 00:30
Importance: Low
Previous: 1.9%
Forecast: 2.0%
Actual: -
Period: May

National Consumer Price Index (CPI) is the key gauge for inflation in Japan. Simply put, inflation reflects a decline in the purchasing power of the Yen, where each Yen buys fewer goods and services. In terms of measuring inflation, CPI is the most obvious way to quantify changes in purchasing power. The report tracks changes in the price of a basket of goods and services that a typical Japanese household might purchase. An increase in the index indicates that it takes more Yen to purchase this same set of basic consumer items.

Markets will typically pay more attention to "CPI excluding Fresh Food," because it excludes volatile food prices that can distort overall CPI. The headline figure for CPI is the percentage change in the index on a month to month or year to year basis.

As the most important indicator of inflation, CPI figures are closely followed by the Bank of Japan. Rising Consumer Prices may prompt the BoJ to raise interest rates in order to manage inflation and slow economic growth. Higher interest rates make holding the Yen more attractive to foreign investors, and this higher level of demand will place upward pressure on the value of the Yen.

May, 27 00:30
Tokyo CPI ex Fresh Food & Energy
Tokyo CPI ex Fresh Food & Energy
Country:
Date: May, 27 00:30
Importance: Low
Previous: 0.8%
Forecast: 0.4%
Actual: -
Period: May

An indicator of inflation experienced by consumers living in Tokyo, excluding such volatile item as fresh food.

May, 27 02:30
★★
Retail Sales
Retail Sales
Country:
Date: May, 27 02:30
Importance: Medium
Previous: 1.6%
Forecast: 0.9%
Actual: -
Period: Apr

Gauge for goods sold at retail outlets in the past month. Retail Sales is a leading indicator for the economy. Rising consumer spending fuels economic growth, confirms signals from consumer confidence, and may spark inflationary pressures.

The headline figure is expressed as the percentage change from the same month last year.

May, 27 07:00
Nationwide House Price Index
Nationwide House Price Index
Country:
Date: May, 27 07:00
Importance: Low
Previous: 0.3%; 12.1%
Forecast: -
Actual: -
Period: May

Gauge for costs of homes in the United Kingdom. Mortgage data is used to provide a timely measure of the level of prices. House prices give good information current conditions in the housing market. The Index can precurse broader inflationary pressures felt in later more market moving reports should housing price pressures feed into consumer prices.
 

May, 27 09:00
M3 Money Supply
M3 Money Supply
Country:
Date: May, 27 09:00
Importance: Low
Previous: 6.3%
Forecast: 6.3%
Actual: -
Period: Apr

The broadest measure of money supply in use by Eurozone nations. It includes all currency in circulation, bank deposits, repurchase agreements, debt securities up to 2 years, and the value of money market shares. A larger money supply reduces the purchasing power of the Euro and puts downward pressure on the exchange rate. However, because an increase in M3 leads to price inflation, this figure can also be indicative of the likelihood of future interest rate hikes. The Eurozone M3 is reported in headlines as a percent change from the previous month or as a Three Month Average, which smoothes monthly volatility in the money supply.

May, 27 09:00
Private Sector Credit
Private Sector Credit
Country:
Date: May, 27 09:00
Importance: Low
Previous: 4.5%
Forecast: 4.5%
Actual: -
Period: Apr

Domestic credit to private sector refers to financial resources provided to the private sector, such as through loans, purchases of nonequity securities, and trade credits and other accounts receivable, that establish a claim for repayment.

May, 27 12:35
★★
FOMC Member James Bullard Speaks
FOMC Member James Bullard Speaks
Country:
Date: May, 27 12:35
Importance: Medium
Previous: -
Forecast: -
Actual: -
Period: -
James Bullard is the chief executive officer and 12th president of the Federal Reserve Bank of St. Louis, positions he has held since 2008. He is currently serving a term that began on March 1, 2011. In 2014, he was named the 7th most influential economist in the world.
May, 27 13:30
★★
PCE Core
PCE Core
Country:
Date: May, 27 13:30
Importance: Medium
Previous: 0.3%; 5.2%
Forecast: 0.3%; 4.9%
Actual: -
Period: Apr

Comprehensive measure of how much consumers spend each month, counting expenditures on durable goods, consumer products, and services. Personal Consumption is a comprehensive measure of GDP; consequently the figure is watched as an indicator for economic trends. Spending also has direct affect on inflationary pressures.

A healthy Personal Spending figure means that consumers are buying goods and services, fueling the economy and spurring output growth. The report is particularly valued for forecasting inflationary pressures. Taken in excess these high levels of consumption and production may lead to an overall increase in prices. Indeed, the Fed uses a measure of inflation derived from the PCE as their primary gauge of inflation.

On the other hand, persistently low Personal Spending may result in decreasing levels of output and an economic downturn.

Because income is either spent or saved, Personal Spending (when reported as a percent of income rather than the headline percent change) has an inverse relationship to personal saving. Economists watch the growth of Personal Spending in relation to income and saving to determine if consumers are living beyond their means, which would influence levels of borrowing and future consumption.

The PCE figure is released in headlines as a percent change from the previous month.

Core Personal Consumption Expenditure
Volatile items like food and energy can fluctuate widely due to seasonal and non-systemic factors. In order to provide a less erratic picture of Personal Consumption, food and energy items are excluded in the PCE core report.

The headline figure of PCE is expressed in percentage change in spending for the quarter.

Note: The Personal Consumption Expenditure figure is reported with the Personal Income and Outlays figure.

May, 27 13:30
★★
Personal Spending
Personal Spending
Country:
Date: May, 27 13:30
Importance: Medium
Previous: 1.1%
Forecast: 0.6%
Actual: -
Period: Apr

Comprehensive measure of how much consumers spend each month, counting expenditures on durable goods, consumer products, and services. Personal Consumption is a comprehensive measure of GDP; consequently the figure is watched as an indicator for economic trends. Spending also has direct affect on inflationary pressures.

A healthy Personal Spending figure means that consumers are buying goods and services, fueling the economy and spurring output growth. The report is particularly valued for forecasting inflationary pressures. Taken in excess these high levels of consumption and production may lead to an overall increase in prices. Indeed, the Fed uses a measure of inflation derived from the PCE as their primary gauge of inflation.

On the other hand, persistently low Personal Spending may result in decreasing levels of output and an economic downturn.

Because income is either spent or saved, Personal Spending (when reported as a percent of income rather than the headline percent change) has an inverse relationship to personal saving. Economists watch the growth of Personal Spending in relation to income and saving to determine if consumers are living beyond their means, which would influence levels of borrowing and future consumption.

The PCE figure is released in headlines as a percent change from the previous month.

May, 27 13:30
Personal Income
Personal Income
Country:
Date: May, 27 13:30
Importance: Low
Previous: 0.5%
Forecast: 0.5%
Actual: -
Period: Apr

Broad gauge of employee earnings in the US . Personal Income measures the pre-tax income households receive from employment, investments, and transfer payments. As wages and salaries make up the majority of Personal Income, the figure can provide insight on the US employment situation. However, because Personal Income is released after the headline employment figure and earnings figures, its impact on the market is muted. The figure is still useful in gauging the purchasing ability of consumers, though, as rising Personal Income allows for strong consumers spending. Such spending drives output growth and fuels the US economy.

May, 27 13:30
★★
Goods Trade Balance
Goods Trade Balance
Country:
Date: May, 27 13:30
Importance: Medium
Previous: -125.3
Forecast: -114.8
Actual: -
Period: Apr
Since July 2015, the US Bureau of Economic Analysis has started publishing preliminary estimate of goods trade balance. This release will be 4-7 earlier than trade balance data. Growth in the reading favors the US dollar.
May, 27 13:30
Wholesale Inventories
Wholesale Inventories
Country:
Date: May, 27 13:30
Importance: Low
Previous: 2.3%
Forecast: 2.0%
Actual: -
Period: Apr

The stock of unsold goods held by wholesalers. Wholesalers act as intermediaries between manufacturers or importers, and retailers. Wholesalers sell directly to retailers, who strive to act in accordance (ideally) with consumer demand. Consequently, high Wholesale Inventories indicate that unsold goods are piling up, suggesting that retailers are facing lagging consumer demand and unwilling to purchase goods. Conversely, declining Wholesale Inventories suggest retailers are buying more goods to meet strong or rising demand. Because Wholesale Inventories reflect the demand retailers have for their manufacturers' wares, the report offers an early indication of the potential strength of consumer spending.

Wholesale Inventories are reported in headlines as a percent change from the previous month.

May, 27 15:00
Michigan Consumer Sentiment Index
Michigan Consumer Sentiment Index
Country:
Date: May, 27 15:00
Importance: Low
Previous: 59.1
Forecast: 59.1
Actual: -
Period: May

Assesses consumer confidence regarding personal finances, business conditions and purchasing power based on hundreds of telephone surveys. Especially valued for its quick turnaround, the University of Michigan Confidence survey is considered one of the foremost indicators of US consumer sentiment. The survey polls a smaller sample of consumers and is less established than the Conference Board Consumer Confidence Index.

Declining consumer confidence levels usually accompany any fall income or wages and precede drops in consumer spending. A low or falling sentiment value is considered an early indicator of an economic downturn. As a result, investors, retailers and traders alike all watch the figure for insight into the general health of the economy. The University of Michigan figures have recently preceded turning in overall GDP.

The headline figure is calculated by subtracting the percentage of unfavorable replies from the percentage of favorable replies.

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