Economic calendar

ECONOMIC CALENDAR

Date

GMT+00:00

Event

Value

Dec, 05 03:30

★★★

RBA Interest Rate Decision

Country:
Date:	Dec, 05 03:30
Importance:	High
Previous:	4.35%
Forecast:	4.35%
Actual:	-
Period:	Dec

The Reserve Bank sets the target 'cash rate', which is the market interest rate on overnight funds. It uses this as the instrument for monetary policy, and influences the cash rate through its financial market operations. Decisions regarding the cash rate target are made by the Reserve Bank Board and explained in a media release announcing the decision at 2.30 pm after each Board meeting.

4.35%

Dec, 05 03:30

★★★

RBA Monetary Policy Statement

Country:
Date:	Dec, 05 03:30
Importance:	High
Previous:	-
Forecast:	-
Actual:	-
Period:	-

The RBA Monetary Policy Statement released by the Reserve bank of Australia reviews economic and financial conditions, determines the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth. It is considered as a clear guide to the future RBA interest rate policy. Any changes in this report affect the AUD volatility. If the RBA statement shows a hawkish outlook, that is seen as positive (or bullish) for the AUD, while a dovish outlook is seen as negatvie (or bearish).

Dec, 05 15:00

★★★

ISM Services PMI

Country:
Date:	Dec, 05 15:00
Importance:	High
Previous:	51.8
Forecast:	52.5
Actual:	-
Period:	Nov

ISM index for the non-manufacturing sector, a value below 50 indicates a decrease in activity compared to the previous month, above - about growth.

51.8

Dec, 06 00:30

★★★

Gross Domestic Product

Country:
Date:	Dec, 06 00:30
Importance:	High
Previous:	0.4%; 2.1%
Forecast:	0.4%; 1.7%
Actual:	-
Period:	3 quarter

A comprehensive measure of Australia's overall production and consumption of goods and services. GDP is a significant reportserving as one of the primary indicators of a country's overall economic health.

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 prompt monetary authorities to increase interest rates. Thus positive GDP readings are generally bullish for the Australian Dollar, while negative readings are generally bearish.

Most production reports that lead to Australian GDP are released before the official GDP number. Therefore, actual GDP figures usually confirm expectations. However, an unexpected release can move markets due to the significance of the figure.

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

The headline figures for GDP are the percentage growth rate from the previous quarter and the annualized percentage change in GDP. Prices used are benchmarked to 1997 prices.

0.4%; 2.1%

Dec, 06 15:00

★★★

Overnight Rate

Country:
Date:	Dec, 06 15:00
Importance:	High
Previous:	5.00%
Forecast:	5.00%
Actual:	-
Period:	Dec

BoC Interest Rate Decision is announced by the Bank of Canada. If the BoC is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the CAD. Likewise, if the BoC has a dovish view on the Canadian economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.

5.00%