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Event Previous Forecast Actual
Jun, 24 18:00
Baker Hughes U.S. Rig Count
Baker Hughes U.S. Rig Count
Country:
Date: Jun, 24 18:00
Importance: Low
Previous: 740
Forecast: -
Actual: 753
Period: Jun
The Baker Hughes rig count is an important business barometer for the oil drilling industry. When drilling rigs are active they consume products and services produced by the oil service industry. The active rig count acts as a leading indicator of demand for oil products.
740 - 753
Jun, 24 15:00
UoM Inflation Expectations
UoM Inflation Expectations
Country:
Date: Jun, 24 15:00
Importance: Low
Previous: 5.4%; 3.3%
Forecast: -
Actual: 5.3%; 3.1%
Period: Jun
The Michigan Consumer Sentiment Index released by the University of Michigan is a survey of personal consumer confidence in economic activity. It shows a picture of whether or not consumers are willing to spend money. Generally speaking, a high reading anticipates positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).
5.4%; 3.3% - 5.3%; 3.1%
Jun, 24 15:00
★★
New Home Sales
New Home Sales
Country:
Date: Jun, 24 15:00
Importance: Medium
Previous: 629K; -12.0%
Forecast: 590K; -1.0%
Actual: 696K; 10.7%
Period: May

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.

629K; -12.0% 590K; -1.0% 696K; 10.7%
Jun, 24 14:00
NBB Business Climate
NBB Business Climate
Country:
Date: Jun, 24 14:00
Importance: Low
Previous: 1.8
Forecast: 2.0
Actual: -1.8
Period: Jun

Assesses overall business environment in a country.

1.8 2.0 -1.8
Jun, 24 12:30
★★★
RBA Governor Philip Lowe Speaks
RBA Governor Philip Lowe Speaks
Country:
Date: Jun, 24 12:30
Importance: High
Previous: -
Forecast: -
Actual: -
Period: -
RBA Governor Oct 2016 - Sep 2023. Volatility is often experienced during his speeches as traders attempt to decipher interest rate clues. 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.
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