A high reading is seen as positive, or bullish for the AUD, while a low reading is seen as negative, or bearish.
What is the Economic Calendar?
The figures displayed in the calendar represent the average yield on the bonds auctioned by Agence France Tresor. Yields are set by bond market investors, and therefore they can be used to decipher investors' outlook on future interest rates. The report is an indicator used by investors to determine the strength of the labor market. Continuing Jobless Claims Link. The Counting Jobless Claims released by the US Department of Labor measure the number of individuals who are unemployed and are currently receiving unemployment benefits.
It presents the strength in the labor market. A rise in this indicator has negative implications for consumer spending which discourage economic growth. Generally speaking, a high reading is seen as negative, or bearish for the USD, while a low reading is seen as positive, or bullish. Initial Jobless Claims Link. The Initial Jobless Claims released by the US Department of Labor is a measure of the number of people filing first-time claims for state unemployment insurance.
In other words, it provides a measure of strength in the labor market. A larger than expected number indicates weakness in this market which influences the strength and direction of the US economy. Generally speaking, a decreasing number should be taken as positive or bullish for the USD. A high level of consumer confidence indicates economic expansion while a low level points to a downturn.
A high reading is seen as positive or bullish for the Mexican Peso, while a low reading is seen as negative or bearish. A high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn. Reserves can be a precautionary measure for countries susceptible to financial crisis.
It can also be used to manipulate exchange rates. A high reading is is seen as positive or bullish for the Russian Ruble, while a low reading is seen as negative or Bearish.
Fed's Quarles speech Link. His term as Vice Chairman for Supervision ends on October 13, Factory Orders MoM Link. The Factory orders released by the US Census Bureau is a measure of the total orders of durable and non durable goods such as shipments sales , inventories and orders at the manufacturing level which can offer insight into inflation and growth in the manufacturing sector.
Normally, a high reading is seen as positive or bullish for the USD, while a low reading is seen as negative or bearish. Ivey Purchasing Managers Index s. The Ivey PMI is an important indicator of business conditions and the overall economic condition in Canada.
A result above 50 signals is seen positive, or bullish for the CAD, whereas a result below 50 is seen as negative, or bearish. Ivey Purchasing Managers Index Link. A result above 50 signals is seen positive , or bullish for the CAD, whereas a result below 50 is seen as negative, or bearish.
Central Bank Interest Rate Link. The Bank of Mexico announces a key interest rate which affects the whole range of interest rates set by commercial banks, building societies and other institutions for their own savers and borrowers. Generally speaking, if the central bank is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the Mexican Peso.
Companies answer questions related to production, employment, prices supplier deliveries, inventories and new orders. A high reading is seen as positive, or bullish for the AUD, while a low reading is seen as negative, or bearish.
The purchase power of the Won is dragged down by inflation. Generally speaking, a high reading is seen as positive or bullish for the Korean Won, while a low reading is seen as negative or bearish. Consumer Price Index Growth Link. The Overall Household Spending released by the Ministry of Internal Affairs and Communications is an indicator that measures the total expenditure by households. The level of spending can be used as an indicator of consumer optimism.
It is also considered as a measure of economic growth. A high reading is positive or Bullish for the JPY, while a low reading is negative or bearish. JP Foreign Reserves Link. Foreign-exchange reserves, released by Ministry of Finance , in a strict sense are 'only' the foreign currency deposits and bonds held by central banks and monetary authorities.
This broader figure is more readily available, but it is more accurately termed official international reserves or international reserves. These are assets of the central bank held in different reserve currencies.
Indicator released by the Ministry of Health, Labour and Welfare shows the average income, before taxes, per regular employee. It includes overtime pay and bonuses but it doesn't take into account earnings from holding financial assets nor capital gains. Higher income puts upward pressures over consumption, therefore an increasing trend in earnings is inflationary for the Japanese economy.
A higher than expected reading is bullish for the yen, while below the market consensus the result is bearish. It indicates the housing market condition. House buyers spend money on furnishing and financing their homes, which stimulates the demand for goods, services, and the employees.
Thus, a high reading is seen as bullish or positive for the AUD, whereas a low reading is seen as bearish or negative. The Retail Sales released by the Australian Bureau of Statistics is a survey of goods sold by retailers is based on a sampling of retail stores of different types and sizes and it''s considered as an indicator of the pace of the Australian economy. It shows the performance of the retail sector over the short and mid-term.
Positive economic growth anticipates bullish trends for the AUD, while a low reading is seen as negative or bearish. The Coincident Index released by the Cabinet Office is a single summary statistic that tracks the current state of the Japanese economy. A rise in the index indicates an expansion of economic activity and a decline in the index indicates a contraction in economic activity.
Leading Economic Index Link. The Leading Economic Index released by the Cabinet Office is an economic indicator that consists of 12 indexes such as account inventory ratios, machinery orders, stock prices and other leading economic indicators. It shows the performance of the Japanese Economy over the short and mid-term. Generally speaking, a higher-than-previous reading is considered positive or bullish for the JPY, whereas a result worse than the previous is seen as bearish.
The Producer Price Index released by the Statistisches Bundesamt Deutschland measures the average changes in prices in the German primary markets. Changes in the PPI are widely followed as an indicator of commodity inflation. Generally speaking, a high reading is seen as positive or bullish for the EUR, whereas a low reading is seen as negative or bearish. The Factory orders released by the Deutsche Bundesbank is an indicator that includes shipments, inventories, and new and unfilled orders. An increase in the factory order total may indicate an expansion in the German economy and could be an inflationary factor.
It is worth noting that the German Factory barely influences, either positively or negatively, the total Eurozone GDP. A high reading is positive or bullish for the EUR, while a low reading is negative.
Industrial Production MoM Link. The Industrial Production released by the Statistics Denmark shows the volume of production of Danish industries such as factories and manufacturing. Uptrend is regarded as inflationary which may anticipate interest rates to rise. If high industrial production growth comes out, this may generate a positive sentiment or bullish for the Danish Krone. A high reading is is seen as positive or bullish for the Rand, while a low reading is seen as negative or Bearish.
A steady demand for French exports helps to support growth in the trade surplus, which should be positive or bullish for the Euro. A high demand for outside products negatively influences the trade surplus, which should be negative or bearish for the Euro. A positive value shows a trade surplus, while a negative value shows a trade deficit. A steady demand for French exports would turn into positive growth in the trade balance, which should be positive or bullish for the Euro.
The current account released by the Banque de France is a net flow of current transactions, including goods, services and interest payments into and out of France. A current account surplus indicates that the flow of capital into the country exceeds the capital reduction.
A high reading is seen as positive or bullish for the Euro, whereas a low reading is seen as negative or bearish. If the amount is positive then the balance shows a surplus, to the contrary, if it is negative, the balance is in deficit, therefore unveiling borrowing needs.
Generally, a surplus is seen as positive or bullish for the Euro and a deficit is seen as negative or bearish. The wholesale price index released by Statistics Austria shows price change of wholesales in Austria. An decrease in the price of wholesales indicates less inflation which is seen as positive for the EUR, while an increase indicates inflation which could be negative or bearish for the currency.
Foreign Currency Reserves Link. Foreign Currency Reserves are the foreign currency deposits and bonds held by Swiss National Bank and monetary authorities. It provides insight into the SNB's currency market operations, such as how actively they are defending the franc's exchange rate against the euro. The Industrial Output released by the National Institute of Statistics shows the volume of production of Spanish industries such as factories and manufacturing.
An increase is regarded as inflationary which may anticipate interest rates to rise. Generally, a high reading is seen as positive or bullish for the Euro, while a low reading is seen as negative or bearish.
Industrial Output YoY Link. The Industrial Production released by the Hungarian Central Statistical Office, shows the volume of production of Hungarian industries such as factories and manufacturing.
If high industrial production growth comes out, this may generate a positive sentiment or bullish for the Forint. The Consumer Price Index, issued by the Swiss Federal Statistical Office , measures the average price change for all goods and services purchased by households for consumption purposes.
CPI is the main indicator to measure inflation and changes in purchasing trends. The purchase power of CHF is dragged down by inflation. A high reading is positive for the CHF, while a low reading is negative. Industrial Production YoY Link. The Industrial Production released by the SCB - Statistics Sweden shows the volume of production of Swedish industries such as factories and manufacturing.
If high industrial production growth comes out, this may generate a positive sentiment or bullish for the Swedish Krona. The housing prices are considered as a key indicator for inflationary pressures. A high reading is seen as positive or bullish for the GBP, while a low reading is seen as negative or bearish. The Retail Sales released by the National Institute of Statistics is a measure of changes in sales of the Italian retail sector. It shows the performance of the retail sector in the short term.
Percent changes reflect the rate of changes of such sales. The changes are widely followed as an indicator of consumer spending. A high reading is seen as positive or bullish for the Euro, while a low reading is seen as negative or Bearish. An increasing number of new orders predicts enhanced production and a growth in the GDP.
Normally, a high reading is seen as positive or bullish for the Krona, while a low reading is seen as negative or bearish. Reverse Repo Rate Link. The rate is another tool of monetary policy, with an increase leading to a transfer of funds to the RBI, and thus out of the banking system. A decline in the reverse repo rate is seen as positive or bullish for the Rupee while an increase is seen as negative or bearish. The Imacec, released by the Banco Central de Chile , is a monthly indicator of the production in all of the economic sectors in Chile.
It is published around the fith day of each month. Generally speaking, a high reading is seen as positive or bullish for the CLP, while a low reading is seen as negative or bearish. The FX Reserves released by the Reserve Bank of India presents changes in the value of official reserve assets reflecting purchases and sales including swaps of foreign exchange by the Central Bank, earnings on foreign securities, and transactions with official institutions overseas.
A high reading is is seen as positive or bullish for the Rupee, while a low reading is seen as negative or Bearish. The IPCA inflation released by the Instituto Brasileiro de Geografia e Estatistica is a measure of price movements by the comparison between the retail prices from consumption of families with a purchasing power of up to forty minimum wages.
The purchase power of the BRL is dragged down by inflation. The IPCA is a key indicator to measure inflation and changes in purchasing trends. Generally speaking, a high reading is seen as positive or bullish for the BRL, while a low reading is seen as negative or Bearish. The Central Bank FX Reserves released by the National Bank of Poland present changes in the value of official reserve assets reflecting purchases and sales including swaps of foreign exchange by the Central Bank, earnings on foreign securities, and transactions with official institutions overseas.
The headline number is the projected value of the Large Manufacturer's Index for the next quarter. Forecasts the value of the Non-Manufacturing Index in the next quarter. The Non-Manufacturing Outlook is a good measure of future business expectations, providing an indication of economic trends based on factors like projected profits, capital investment, and consumer demand. The headline number is the projected value of the Non-Manufacturing Diffusion Index for the next quarter. Measures capital expenditure capex by all Japanese industries except the financial industry.
Capital expenditure is an early indicator for production since companies usually make capital investments in order to expand operational productivity. Thus increasing capex figures can forecast economic growth, particularly if they are accompanied by high capacity utilization rates. The headline number is the annualized percentage change in spending from the previous quarter.
A monthly estimate of inflation in the Australian economy. The report replicates the methodology used by the Australian Bureau of Statistics to calculate quarterly CPI, striving to correspond closely with official government numbers. The figure is important because it acts as a timelier indicator of inflation, coming out monthly instead of the quarterly CPI figures. Released one day before interest rate decisions are made, the figure may influence RBA considerations for rate hikes or reductions.
As with any gauge of inflation in Australia , a high value in the figure is bullish for the Australian dollar, since real inflationary pressures are usually met by the Reserve Bank of Australia with bullish rate hikes. The headline figure is the month-over-month or annualized inflation rate. Measures changes in sales of the German retail sector. Given that consumption makes up a significant portion of German GDP, the Retail Sales figure can act as an indicator of domestic demand.
High or rising Retail Sales may spur German consumption, translating into economic growth. However, uncontrolled growth runs the risk of inflationary pressures. Since Germany is a large part of the Euro-zone, German figures may have some impact on the market. The headline figure is expressed in percentage change in the value of sales. Reports the cumulative percentage of unemployed individuals in the Euro-zone nations.
A low or falling unemployment rate is associated with increased expenditure, given that more people are employed and have incoming wages.
Increased expenditure encourages economic growth, which can spark inflation. The figure acts as a significant indicator of the region's economic activity, particularly because it is released earlier than the GDP.
However, because unemployment rates for member countries are released well before the aggregate Euro-zone rate, the figure often receives less attention. Construction spending gauges the level of construction activity in the United States. The Construction Spending report looks at both residential and non-residential construction.
The construction industry makes a significant contribution to the United States GDP in the form of investment expenditure as well as stimulus of industries related to building. Furthermore, since builders are unlikely to pour money into construction projects unless they feel the economy favors their investment, changes in business sentiment like this are usually quickly seen in construction figures. However, the report has little significance for market participants because of its untimely release.
By the time the report is announced other reports, such building permits and building starts have already provided similar information. The report headline is the percentage change from the previous month. The construction industry is a major force to the United States economy, even without including non-construction businesses that are tied to building, such as finance, the furnishing industry, appliance industry and other manufacturing.
Private Construction activity can be an effective indicator of business confidence. The ISM Manufacturing Survey is valued for its timeliness, and indeed, during waning boom cycles analyst point out that ISM tends to be one of the biggest market moving economic releases.
These components reflect sentiment towards inflation and labor conditions - two of the market's most significant health indicators. The headline figure is expressed as a diffusion index based on survey responses. For each category production, new orders etc. The ISM manufacturing indicator is the aggregate of the results for all categories. Currency supplied by the Bank of Japan. The Monetary Base includes all banknotes and coins in circulation plus all currency held as deposits by the Bank of Japan.
As an official measure of the Japanese money supply, the Monetary Base will show the immediate impacts of monetary policy actions and can give an indication into the future direction of inflation. An expansion in the monetary base is generally inflationary while a decline will likely have the opposite effect. Measures changes in the selling prices of goods and services used by Euro-zone producers. Because producers tend to pass on higher costs to consumers as higher retail prices, the PPI is an early indicator of inflation.
A higher PPI, especially when combined with high figures for other measures of inflation, will make the European Central Bank more inclined to raise interest rates. A low or falling PPI is indicative of declining prices, and may suggest an economic slowdown. The Index headline is expressed as a month over month or annualized percentage change. The Euro-zone PPI excludes construction industry because it is vulnerable to seasonal price volatility that can distort index results. Tracks monthly developments in the Australian services sector, condensing data into an overall boom or bust index.
The composite index is based on the surveys for sales, new orders, employment, inventories and deliveries, compiled by American International Group. The AIG Performance of Service Index excludes industrial manufacturing sectors that tend to be volatile and seasonal, giving a clean picture of Australia's service sector that accounts for a majority of Aussie GDP.
The headline number uses a 50 baseline, where above 50 signifies growth, while a number below 50 shows a contraction in the services sector. Measures the monthly price change of New Zealand 's seventeen main commodity exports.
Given that the exports act as the driving force of New Zealand 's economy, changes in their prices can affect GDP and exchange rates.
An increase in export prices may suggest a strengthening of the Dollar as foreigners pay relatively more for New Zealand 's exports. Conversely, falling export prices may indicate a decline in demand for New Zealand commodities; weakening the exchange rate. The headline value is the percentage change in the index from the previous month. Because the figure measures price changes in commodity goods, it acts as an early indicator of price changes. As such an early indicator the figure is useful in predicting future price direction.
The number of domestic building permits granted for the month. Strong growth in new approvals and permits indicates a growing housing market. Because real estate generally leads economic developments - housing tends to thrive at the start of booms and wane at the onset of recession - the figure can be used with others to forecast future growth in the economy as a whole.
For this reason Business Approvals is one of eight components used to construct the Conference Board Leading Index, a widely used index to forecast Australia 's economic course. A strong housing market also tends to lead consumer spending. The headline number is the seasonally adjusted percentage change in new building approvals from the previous month. The total value of goods and services sold each month at retail outlets.
The report acts as a gauge of consumption and consumer confidence. An increasing number of sales signal consumer confidence and economic growth, which would fuel the Euro-zone economy.
However, higher consumption also leads to inflationary pressures, which results in economic instability. The headline is the monthly percentage change in retail sales. Gauges demand for mortgage application in the US. Growth in mortgages suggests a healthy housing market. Due to the multiplier effect housing has on the rest of the economy, rising activity suggests increased household income and economic expansion.
Among the various indices measured in the survey, the purchase index and refinancing index most accurately reflect where the housing market is headed.
The purchasing index measures the change in existing home sales in all mortgage applications, while the refinance index measures the mortgage refinancing activity in all mortgage applications. Dollar volume of new orders, shipments, unfilled orders and inventories as reported by domestic manufacturers.
Factor Orders is not a widely watched economic release. The Advance Release on Durable Goods Activity reported one week earlier tends grab more market attention, given that durable goods make up more than half of factory orders. Factor Orders does provide a comprehensive look at the manufacturing sector. Specifically, the New Orders figure can act as a gauge of demand across industries while Shipments are indicative of supply.
The Unfilled Orders and Inventory figures reconcile the balance between New Orders and Shipments; high Shipments are indicative of an excess of demand relative to supply, high Inventories signal an excess of supply over demand.
Figures are reported in billions of dollars and also in percent change from the previous month. The value of orders placed for relatively long lasting goods. Durable Goods are expected to last more than three years. Such products often require large investments and usually reflect optimism on the part of the buyer that their expenditure will be worthwhile. Because orders for goods have large sway over the actual production, this figure serves as an excellent forecast of U.
Durable Goods are typically sensitive to economic changes. When consumers become skeptical about economic conditions, sales of durable goods are one of the first to be impacted since consumers can delay purchases of durable items, like cars and televisions, only spending money on necessities in times of economic hardship.
Conversely, when consumer confidence is restored, orders for durable goods rebound quickly. The data is highly volatile as well, some volatility is eliminated with the Durable Goods Orders excluding Transportation figure, making it the more closely watched indicator.
The headline figure is expressed as a percentage change from previous months. The Durable Goods Orders figure is also reported excluding transportation expenditures. Orders for items like civilian vehicles or aircrafts are fairly expensive and fluctuate idiosyncratically, distorting the Durable Goods Orders figure.
Such goods are excluded to provide a better measure of durable goods orders. The average amount of pre-tax earnings per regular employee, including overtime pay and bonuses. Though the report does not take into account all sources of household income accumulated wealth and capital gains from financial assets are omitted , Labor Cash Earnings accurately reflects the spending ability of domestic consumers, one of the driving forces behind economic growth.
Because growth in wages fuels higher consumption, rising Labor Cash Earnings generally lead to higher inflation. Measures the current economic activity based on a composite of indicators that track current business conditions in Japan.
The headline number is derived by comparing the number of expanding indicators to the total number of indicators used. Included in the index are; the expansion or contraction of industrial production, capacity utilization, retail and wholesale sales, power consumption, non-scheduled work hours, the job-offer rate and operating profits.