Date
GMT+01:00
Event
May, 12 07:00
CPI
CPI
Country:
Date: May, 12 07:00
Importance: Low
Previous: 0.6%; 2.9%
Forecast: 0.6%; 2.9%
Actual: -
Period: Apr

Assesses changes in the cost of living by measuring changes in the prices of consumer items. The CPI is the headline inflation figure that indicates the strength of domestic inflationary pressures. Simply put, inflation reflects a decline in the purchasing power of the Euro in Germany , where each Euro buys fewer goods and services. CPI is the most popular way to measure changes in purchasing power. The report tracks changes in the price of a basket of goods and services that a typical German household might purchase. An increase in the index indicates that it takes more Euros to purchase this same set of basic consumer items.

The German CPI is significant as one of the primary gauges of inflation. As the largest Eurozone economy, inflation in Germany will contribute significantly to inflation in the Eurozone and the behavior of the European Central Bank. High or rising inflation acts as a signal to the ECB to raise interest rates, an action which will result in the strengthening of the Euro. The headline figure for CPI is the percentage change in monthly and annualized percentage term.

May, 12 07:00
Harmonized CPI
Harmonized CPI
Country:
Date: May, 12 07:00
Importance: Low
Previous: 0.5%; 2.9%
Forecast: 0.5%; 2.9%
Actual: -
Period: Apr

The Harmonized Index of Consumer Prices (HICP) reflects changes in the prices of consumer goods and services in a specified period of time. The HICP measures changes of the average price level for goods and services that households consume (the fixed consumer basket). HICP is pure price index. It does not reflect the changes in buying or consumption patterns, brands, and does not reflect the effect of outlet and service provider substitution.

May, 12 07:30
Producer & Import Prices
Producer & Import Prices
Country:
Date: May, 12 07:30
Importance: Low
Previous: 0.2%; -2.7%
Forecast: 0.1%
Actual: -
Period: Apr

Tracks inflation in producer and import prices in Switzerland . The headline figure is the percentage change in the index from the previous period.

Changes in this index will generally precede changes in the consumer price index, as higher import costs and producer prices tend to eventually be passed to consumers. As with any indicator of inflation, increases in producer and import prices tend to act as an appreciating weight for the Swiss franc because inflationary pressures are almost always met with interest rate increases from the Swiss central bank.

The figure represents changes in the combined producer and import price index, calculated from changes in producer prices and import prices, giving appropriate weight to the proportion of domestic and imported goods.

May, 12 08:15
FOMC Member John C. Williams Speaks
FOMC Member John C. Williams Speaks
Country:
Date: May, 12 08:15
Importance: Low
Previous: -
Forecast: -
Actual: -
Period: -

John C. Williams is President and CEO of the Federal Reserve Bank of San Francisco.

May, 12 09:00
Industrial Production
Industrial Production
Country:
Date: May, 12 09:00
Importance: Low
Previous: 0.1%; 0.5%
Forecast: 0.0%
Actual: -
Period: Mar

Measures the per volume change in output from mining, quarrying, manufacturing, energy and construction sectors in Italy. Industrial production is significant as a short-term indicator of the strength of Italian industrial activity. High or rising Industrial Production figures suggest increased production and economic expansion. However, uncontrolled levels of production and consumption can spark inflation.

The report is only a preliminary estimate figure that does not move the markets much. The figure is released in headlines as a monthly percent change.

May, 12 10:00
★★
ZEW Economic Sentiment
ZEW Economic Sentiment
Country:
Date: May, 12 10:00
Importance: Medium
Previous: -17.2
Forecast: -19.1
Actual: -
Period: May

A German Firm, the Center for European Economic Research (ZEW), queries financial experts throughout Europe every month in order to make a medium-term forecast about Germany 's economic situation. They ask experts to evaluate the current situation and to predict the future direction of the economy. For all components of the survey, responses are restricted to positive, negative, or unchanged. This simple structure allows the survey to be quick and efficient in terms of turnaround time, as well as easy to understand and interpret.

Experts are asked for a qualitative assessment of the direction of inflation, interest rates, exchange rates and the stock market in the next six months. Thus the indicator provides a medium-term forecast for the German economy.

Technical Note on Headline Number : The results of the survey are always presented as the difference between those experts that optimistic and those are pessimistic. For instance if 25 percent of analysts expect improvement, 35 percent expect decline, and 40 percent expect no change, the headline figure is -10.

May, 12 10:00
★★
ZEW Current Situation
ZEW Current Situation
Country:
Date: May, 12 10:00
Importance: Medium
Previous: -73.7
Forecast: -77.5
Actual: -
Period: May

A German Firm, the Center for European Economic Research (ZEW), queries financial experts throughout Europe every month in order to make a medium-term forecast about Germany 's economic situation. They ask experts to evaluate the current situation and to predict the future direction of the economy. For all components of the survey, responses are restricted to positive, negative, or unchanged. This simple structure allows the survey to be quick and efficient in terms of turnaround time, as well as easy to understand and interpret.

Unlike the Economic Sentiment Indicator which looks into the future direction of the economy, the Current Situation Indicator focuses on the results of the survey that relate to the current health of the German economy. Expert opinions on whether the current situation is improved, worsened, or unchanged are summarized as the number of positive responses minus the number of negative responses. A higher headline figure indicates a stronger economy and better business climate.

Technical Note on Headline Number : The results of the survey are always presented as the difference between those experts that optimistic and those are pessimistic. For instance if 25 percent of analysts expect improvement, 35 percent expect decline, and 40 percent expect no change, the headline figure is -10.

May, 12 10:00
★★
ZEW Survey (Econ. Sentiment)
ZEW Survey (Econ. Sentiment)
Country:
Date: May, 12 10:00
Importance: Medium
Previous: -20.4
Forecast: -21.6
Actual: -
Period: May

The Center for European Economic Research (ZEW), queries financial experts throughout Europe every month in order to make a medium-term forecast about the economic situation. Eurozone ZEW Indicator of Economic Sentiment Assesses future economic expectations for the whole Eurozone. The results are summarized as the number of positive responses minus the number of negative responses. A higher headline figure indicates a positive expectation for Euro-zone economy.

Technical Note on Headline Number : The results of the survey are always presented as the difference between those experts that optimistic and those are pessimistic. For instance if 25 percent of analysts expect improvement, 35 percent expect decline, and 40 percent expect no change, the headline figure is -10.

May, 12 10:30
★★
Annual Budget
Annual Budget
Country:
Date: May, 12 10:30
Importance: Medium
Previous: -
Forecast: -
Actual: -
Period: -

Annual budgets can apply to either a fiscal or calendar year. These budgets help their creators to plan for the upcoming year and make the necessary adjustments in cash flow to cover expenses. Annual budgets help both individuals and organizations to accurately project their future cash flows and effectively manage their money.

May, 12 11:00
NFIB Small Business Index
NFIB Small Business Index
Country:
Date: May, 12 11:00
Importance: Low
Previous: 95.8
Forecast: 96.0
Actual: -
Period: Apr
Survey of small businesses which asks respondents to rate the relative level of economic conditions including labor markets, inventories and sales, capital spending, inflation, earnings and wages, and credit markets.
May, 12 13:30
★★★
Consumer Price Index
Consumer Price Index
Country:
Date: May, 12 13:30
Importance: High
Previous: 0.9%; 3.3%
Forecast: 0.6%; 3.7%
Actual: -
Period: Apr

CPI assesses changes in the cost of living by measuring changes consumer pay for a set of items. CPI serves as the headline figure for inflation. Simply put, inflation reflects a decline in the purchasing power of the dollar, where each dollar 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 American household might purchase. An increase in the Consumer Price Index indicates that it takes more dollars to purchase the same set basket of basic consumer items.

Inflation is generally bad news for the economy, causing instability, uncertainty and hardship. To address inflation, the Fed may raise interest rates. However, the Fed relies on the PCE Deflator as its primary gauge of inflation because the CPI does not account for the ability of consumer to substitute out of CPI's set. Price changes tend to cause consumers to switch from buying one good to a less expensive-other, a tendency that the fixed-basket CPI figure does not yet account for. Given that the PCE Deflator is a more comprehensive calculation, based on changes in consumption; it is the figure the Fed prefers.

The figure is released monthly, as either a month over month annualized percentage change, or percentage change for the full year. The figure is seasonally adjusted to account seasonal consumption patterns.

On A Technical Note: The CPI includes over 200 categories of goods and services included, divided into 8 main groups, each with a different weight: Housing, Transportation, Food, Medical Care, Education and Communication, Recreation, Apparel, and Other Goods and Services.

May, 12 13:30
★★★
Consumer Price Index Core
Consumer Price Index Core
Country:
Date: May, 12 13:30
Importance: High
Previous: 0.2%; 2.6%
Forecast: 0.4%; 2.7%
Actual: -
Period: Apr

CPI Excluding Food and Energy - United States

The CPI is also reported excluding food and energy; two of its most volatile components. These components are particularly sensitive to temporary economic factors like oil prices, natural disasters and seasonal affects. Consequently, CPI excluding Food and Energy provides a more stable figure, but at the cost of overlooking two significant sectors in the economy (together food and energy comprise nearly a quarter of the goods included in the CPI).

The figure is the monthly percent change in the index.

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