Date
GMT+01:00
Event Value
May, 25 06:00
Leading Indicators
Leading Indicators
Country:
Date: May, 25 06:00
Importance: Low
Previous: 83.8
Forecast: 83.8
Actual: -
Period: Mar
This index is designed to predict the direction of the economy, but it tends to have a muted impact because most of the indicators used in the calculation are released previously. There's a revised version of this indicator released about 10 days later, but it's not included for lack of significance. Source changed series from a diffusion index to a composite index as of Jun 2008. Combined reading of 11 economic indicators related to employment, production, new orders, consumer confidence, housing, stock prices, money supply, and interest rate spreads.
83.8
May, 25 07:00
GDP
GDP
Country:
Date: May, 25 07:00
Importance: Low
Previous: -2.2%q/q; -1.9% y/y
Forecast: -2.2%q/q; -1.9% y/y
Actual: -
Period: 1 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.

-2.2%q/q; -1.9% y/y
May, 25 09:00
★★
Ifo Business Climate Index
Ifo Business Climate Index
Country:
Date: May, 25 09:00
Importance: Medium
Previous: 74.3
Forecast: 78.3
Actual: -
Period: May

The Ifo Business Climate Index is a closely followed leading indicator for economic activity in Germany prepared by the Ifo Institute for Economic Research in Munich. It is based on ca. 7,000 monthly survey responses of firms in manufacturing, construction, wholesaling and retailing. The firms are asked to give their assessments of the current business situation and their expectations for the next six months. They can characterise their situation as "good", "satisfactorily" or "poor" and their business expectations for the next six months as "more favourable", "unchanged" or "more unfavourable". The replies are weighted according to the importance of the industry and aggregated. The balance value of the current business situation is the difference of the percentages of the responses "good" and "poor", the balance value of the expectations is the difference of the percentages of the responses "more favourable" and "more unfavourable". The business climate is a mean of the balances of the business situation and the expectations.

74.3
May, 25 09:00
★★
Ifo Current Assessment
Ifo Current Assessment
Country:
Date: May, 25 09:00
Importance: Medium
Previous: 79.5
Forecast: 80.3
Actual: -
Period: May

One of the country's key business sentiment surveys (Ifo - Information and Forschung Survey). The survey is conducted monthly, querying German firms on the current German business climate as well as their expectations for the next six months. As the largest economy in the Eurozone, Germany is responsible for approximately a quarter of the total Eurozone GDP.

Consequently, the German Ifo is a significant economic health indicator for the Eurozone as a whole. Positive readings bode well for the economy, suggesting increased consumer spending and economic growth. Conversely, low Ifo readings may be indicative of economic slowdown.

The index uses 100 as a centerline between positive and negative outlooks; the further the value is from 100 the stronger the sentiment. The survey presents two equally weighted sub-indices: Current Assessment and Business Expectations.

Ifo Current Assessment
Measures current German business conditions, without considering future expectations.

79.5
May, 25 09:00
★★
IFO - Expectations
IFO - Expectations
Country:
Date: May, 25 09:00
Importance: Medium
Previous: 69.4
Forecast: 74.1
Actual: -
Period: May

One of the country's key business sentiment surveys (Ifo - Information and Forschung Survey). The survey is conducted monthly, querying German firms on the current German business climate as well as their expectations for the next six months. As the largest economy in the Eurozone, Germany is responsible for approximately a quarter of the total Eurozone GDP. Consequently, the German Ifo is a significant economic health indicator for the Eurozone as a whole. Positive readings bode well for the economy, suggesting increased consumer spending and economic growth. Conversely, low Ifo readings may be indicative of economic slowdown.

The index uses 100 as a centerline between positive and negative outlooks; the further the value is from 100 the stronger the sentiment. The survey presents two equally weighted sub-indices: Current Assessment and Business Expectations.

Ifo Expectations
Based on firms' expectations for the next six months, where firms rate the future outlook as better, same, or worse.

69.4
May, 25 14:00
NBB Business Climate
NBB Business Climate
Country:
Date: May, 25 14:00
Importance: Low
Previous: -36.1
Forecast: -32.0
Actual: -
Period: May

Assesses overall business environment in a country.

-36.1
May, 25 18:30
★★★
BOC Governor Stephen Poloz Speaks
BOC Governor Stephen Poloz Speaks
Country:
Date: May, 25 18:30
Importance: High
Previous: -
Forecast: -
Actual: -
Period: -
Mr. Poloz was appointed Governor of the Bank of Canada, effective 3 June 2013, for a term of seven years. As Governor, he is also Chairman of the Board of Directors of the Bank. Mr. Poloz has over 30 years of public and private sector experience in financial markets, forecasting and economic policy. Traders and investors listen to his speeches, as they may contain hints at change the course of monetary policy, or a change in the Bank's assessments of the economic outlook.
May, 25 23:45
★★
Trade Balance
Trade Balance
Country:
Date: May, 25 23:45
Importance: Medium
Previous: 672M; -3456M
Forecast: 1270M
Actual: -
Period: Apr

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.

672M; -3456M
May, 26 00:50
Corporate Service Price Index
Corporate Service Price Index
Country:
Date: May, 26 00:50
Importance: Low
Previous: 1.6%
Forecast: 1.3%
Actual: -
Period: Apr

Change in the price of services purchased by corporations. It's a leading indicator of consumer inflation - when corporations pay more for services the higher costs are usually passed on to the consumer.

1.6%
May, 26 05:30
All Industry Activity Index
All Industry Activity Index
Country:
Date: May, 26 05:30
Importance: Low
Previous: -0.6%
Forecast: -3.9%
Actual: -
Period: Mar

Evaluates the monthly change in overall production by all sectors of the Japanese economy. The index comprises a variety of industries: service, manufacturing, construction and public sectors are included. The index closely follows Japanese GDP and overall growth figures, providing insight into current levels of Japanese economic expansion. The All Industry Activity Index is posted monthly as a percentage change from the previous month's figure.

-0.6%
May, 26 06:00
BOJ Core CPI
BOJ Core CPI
Country:
Date: May, 26 06:00
Importance: Low
Previous: 0.1%
Forecast: -
Actual: -
Period: Apr
Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate.
0.1%
May, 26 07:00
GfK Consumer Climate
GfK Consumer Climate
Country:
Date: May, 26 07:00
Importance: Low
Previous: -23.4
Forecast: -19.1
Actual: -
Period: Jun

The German group GfK uses this report to show the results of their survey on business consumer confidence in order to gauge the health of the German economy. It is a leading indicator of economic strength.

-23.4
May, 26 07:00
Trade Balance
Trade Balance
Country:
Date: May, 26 07:00
Importance: Low
Previous: 4.02bln
Forecast: -
Actual: -
Period: Apr

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.

4.02bln
May, 26 10:00
★★
MPC Member Andy Haldane Speaks
MPC Member Andy Haldane Speaks
Country:
Date: May, 26 10:00
Importance: Medium
Previous: -
Forecast: -
Actual: -
Period: -
Andy Haldane is the Chief Economist at the Bank of England and also a voting member of the Bank’s Monetary Policy Committee since June 2014 until May 2017. He was acknowledged as being one amongst the world's 100 most influential people. His speeches are mainly focused on financial stability, monetary issues and market risks. All these topics may provide markets with a direction in the regulator’s situation assessment and its further actions.
May, 26 11:00
CBI retail sales volume balance
CBI retail sales volume balance
Country:
Date: May, 26 11:00
Importance: Low
Previous: -55
Forecast: -50
Actual: -
Period: May

Level of a diffusion index based on surveyed retailers and wholesalers: above 0 indicates higher sales volume, below indicates lower. This is a survey of about 160 retail and wholesale companies which asks respondents to rate the relative level of current sales volume. It's a leading indicator of consumer spending because retailer and wholesaler sales are directly influenced by consumer buying levels.
 

-55
May, 26 13:30
Corporate Profits
Corporate Profits
Country:
Date: May, 26 13:30
Importance: Low
Previous: 3.6%
Forecast: -
Actual: -
Period: 1 quarter
Shows the dynamics in the amount of profit by the corresponding period. Growth reflects improvements in the corporate sector, which can support a course on speculation about stronger labor market performance in the future and a higher capital inflow in the country.
3.6%
May, 26 14:00
House Price Index
House Price Index
Country:
Date: May, 26 14:00
Importance: Low
Previous: 0.7%
Forecast: 0.6%
Actual: -
Period: Mar

A resumptive index of house prices reflecting prices for new constructions and resale real estate markets. As all indices connected with the construction industry it can be seasonally adjusted.

0.7%
May, 26 14:00
Case-Shiller 20 City
Case-Shiller 20 City
Country:
Date: May, 26 14:00
Importance: Low
Previous: 3.5%
Forecast: 3.4%
Actual: -
Period: Mar
The S&P Case-Shiller Home Price Indices are the leading measures of U.S. residential real estate prices, tracking changes in the value of residential real estate both nationally as well as in 20 metropolitan regions.
3.5%
May, 26 14:00
ECB Financial Stability Report
ECB Financial Stability Report
Country:
Date: May, 26 14:00
Importance: Low
Previous: -
Forecast: -
Actual: -
Period: -
Since 2004 the ECB has published twice a year the Financial Stability Review which provides an overview of the possible sources of risk and vulnerability to financial stability in the euro area.
May, 26 15:00
★★★
Consumer Confidence
Consumer Confidence
Country:
Date: May, 26 15:00
Importance: High
Previous: 86.9
Forecast: 87.1
Actual: -
Period: May

Assessment of consumer sentiment regarding business conditions, employment and personal income. Based on a representative sample of thousands of mail-in surveys, the Conference Board index has the largest pooling sample of any US measure of consumer confidence. Consumer Confidence levels are generally linked with consumer spending. For instance, when consumer confidence is on the rise consumer spending tends to increase. Low or falling consumer confidence on the other hand is typically associated with decreased spending and consumer demand.

Some analysts criticize the Consumer Confidence figure for its volatile tendencies and weak connection to household expenditure, turning instead to the University of Michigan Consumer Confidence numbers. The volatility of the Consumer Confidence figure is attributed to two factors: its pooling size and the survey time frame focus. The Conference Board surveys an entirely new group of people each month, resulting in more erratic month to month figures. Additionally, the survey queries respondents on expectations for the following six months, a relatively short term evaluation. Conversely, the University of Michigan survey will re-poll many individuals and focuses on expectations for the next one to five years. The long term focus has a stabilizing effect on consumer confidence.

Survey results are printed in the headlines where 100 reflects a recent base year.

86.9
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