Calendar

April, 2017
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DateTimeCurrencyImpactDescription
Today
27 Apr
2:00PMEURLOWGfK German Consumer Climate
Source GfK (latest release)
Measures Level of a composite index based on surveyed consumers;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, around the end of the current month;
Next Release May 24, 2017May 24, 2017
Why Traders
Care
Financial confidence is a leading indicator of consumer spending, which accounts for a majority of overall economic activity;
Derived Via Survey of about 2,000 consumers which asks respondents to rate the relative level of past and future economic conditions, including personal financial situation, climate for major purchases, and overall economic situation;
3:00PMEURMEDIUMSpanish Flash CPI y/y
Source Spanish National Statistics Institute (latest release)
Measures Change in the price of goods and services purchased by consumers;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, around the end of the current month;
Next Release May 29, 2017May 29, 2017
FF Notes There are 2 versions of this report released about two weeks apart - Flash and Final. The Flash release, which the source first reported in Mar 2011, is the earliest and thus tends to have the most impact. The Final is not reported for lack of significance;
Why Traders
Care
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;
Acro Expand Consumer Price Index (CPI);
3:00PMEURMEDIUMSpanish Unemployment Rate
Source Spanish National Statistics Institute (latest release)
Measures Percentage of total work force that is unemployed and actively seeking employment during the previous quarter;
Usual Effect Actual < Forecast = Good for currency;
Frequency Released quarterly, about 85 days after the quarter ends;
Next Release Jul 27, 2017Jul 27, 2017
Why Traders
Care
Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions;
Also Called Jobless Rate;
5:10PMAUDHIGHRBA Gov Lowe Speaks
Description Due to speak at the Renminbi Global Cities Dialogue Dinner, in Sydney;
Source Reserve Bank of Australia (latest release)
Speaker RBA Governor Philip Lowe;
Usual Effect More hawkish than expected = Good for currency;
Next Release May 3, 2017May 3, 2017
FF Notes RBA Governor Oct 2016 - Sep 2023. Volatility is often experienced during his speeches as traders attempt to decipher interest rate clues;
Why Traders
Care
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;
Acro Expand Reserve Bank of Australia (RBA);
7:45PMEURHIGHMinimum Bid Rate
Source European Central Bank (latest release)
Measures Interest rate on the main refinancing operations that provide the bulk of liquidity to the banking system;
Usual Effect Actual > Forecast = Good for currency;
Frequency Scheduled 8 times per year;
Next Release Jun 8, 2017Jun 8, 2017
FF Notes The rate decision is usually priced into the market, so it tends to be overshadowed by the ECB Press Conference, held 45 minutes later. Source changed release frequency from monthly to eight times per year as of Jan 2015;
Why Traders
Care
Short term interest rates are the paramount factor in currency valuation - traders look at most other indicators merely to predict how rates will change in the future;
Derived Via The 6 members of the ECB Executive Board and 15 of the 19 governors of the Euro area central banks vote on where to set the rate, via rotation. The split of votes is not publicly revealed;
Also Called Interest Rates, Refi Rate, Repo Rate;
Acro Expand European Central Bank (ECB);
8:30PMEURHIGHECB Press Conference
Source European Central Bank (latest release)
Speaker ECB President and Vice President;
Usual Effect More hawkish than expected = Good for currency;
Frequency Scheduled 8 times per year, about 45 minutes after the Minimum Bid Rate is announced;
Next Release Jun 8, 2017Jun 8, 2017
FF Notes The press conference is about an hour long and has 2 parts - first a prepared statement is read, then the conference is open to press questions. The questions often lead to unscripted answers that create heavy market volatility. The press conference is webcasted on the ECB website with a slight delay from real-time. Source changed release frequency from monthly to eight times per year as of Jan 2015;
Why Traders
Care
It's the primary method the ECB uses to communicate with investors regarding monetary policy. It covers in detail the factors that affected the most recent interest rate and other policy decisions, such as the overall economic outlook and inflation. Most importantly, it provides clues regarding future monetary policy;
Also Called Interest Rate Statement, ECB News Conference;
Acro Expand European Central Bank (ECB);
8:30PMUSDHIGHCore Durable Goods Orders m/m
Source Census Bureau (latest release)
Measures Change in the total value of new purchase orders placed with manufacturers for durable goods, excluding transportation items;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, about 26 days after the month ends;
Next Release May 26, 2017May 26, 2017
FF Notes Orders for aircraft are volatile and can severely distort the underlying trend. The Core data is therefore thought to be a better gauge of purchase order trends;
Why Traders
Care
It's a leading indicator of production - rising purchase orders signal that manufacturers will increase activity as they work to fill the orders;
Also Called Durable Goods Orders Ex Transportation;
8:30PMUSDHIGHUnemployment Claims
Source Department of Labor (latest release)
Measures The number of individuals who filed for unemployment insurance for the first time during the past week;
Usual Effect Actual < Forecast = Good for currency;
Frequency Released weekly, 5 days after the week ends;
Next Release May 4, 2017May 4, 2017
FF Notes This is the nation's earliest economic data. The market impact fluctuates from week to week - there tends to be more focus on the release when traders need to diagnose recent developments, or when the reading is at extremes;
Why Traders
Care
Although it's generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. Unemployment is also a major consideration for those steering the country's monetary policy;
Also Called Jobless Claims, Initial Claims;
8:30PMUSDMEDIUMDurable Goods Orders m/m
Source Census Bureau (latest release)
Measures Change in the total value of new purchase orders placed with manufacturers for durable goods;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, about 26 days after the month ends;
Next Release May 26, 2017May 26, 2017
FF Notes This data is usually revised via the Factory Orders report released about a week later. Durable goods are defined as hard products having a life expectancy of more than 3 years, such as automobiles, computers, appliances, and airplanes;
Why Traders
Care
It's a leading indicator of production - rising purchase orders signal that manufacturers will increase activity as they work to fill the orders;
8:30PMUSDLOWGoods Trade Balance
Source Bureau of Economic Analysis (latest release)
Measures Difference in value between imported and exported goods during the reported month;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, about 30 days after the month ends;
Next Release May 25, 2017May 25, 2017
FF Notes Trade in goods makes up about 75% of total trade, and therefore provides early insight into the Trade Balance data reported about 5 days later. A positive number indicates that more goods were exported than imported. Source first released in Jul 2015;
Why Traders
Care
Export demand and currency demand are directly linked because foreigners must buy the domestic currency to pay for the nation's exports. Export demand also impacts production and prices at domestic manufacturers;
Also Called International Trade in Goods, Advance Trade In Goods;
8:30PMUSDLOWPrelim Wholesale Inventories m/m
Source Census Bureau (latest release)
Measures Change in the total value of goods held in inventory by wholesalers;
Usual Effect Actual < Forecast = Good for currency;
Frequency Released monthly, about 30 days after the month ends;
Next Release May 25, 2017May 25, 2017
FF Notes There are 2 versions of this report released about a week apart Preliminary and Final. The Preliminary release, which the source first reported in Aug 2016, is the earliest and thus tends to have the most impact.
Why Traders
Care
It's a signal of future business spending because companies are more likely to purchase goods once they have depleted inventories;
10:00PMUSDMEDIUMPending Home Sales m/m
Source National Association of Realtors (latest release)
Measures Change in the number of homes under contract to be sold but still awaiting the closing transaction, excluding new construction;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, about 28 days after the month ends;
Next Release May 31, 2017May 31, 2017
FF Notes This data is released about a week later than Existing Home Sales, but it's more forward-looking as a contract is signed several weeks before the home is counted as sold;
Why Traders
Care
It's a leading indicator of economic health because the sale of a home triggers a wide-reaching ripple effect. For example, renovations are done by the new owners, a mortgage is sold by the financing bank, and brokers are paid to execute the transaction;
Also Called Pending Resales;
10:30PMUSDLOWNatural Gas Storage
Source Energy Information Administration (latest release)
Measures Change in the number of cubic feet of natural gas held in underground storage during the past week;
Usual Effect No consistent effect - there are both inflationary and growth implications;
Frequency Released weekly, 5 days after the week ends;
Next Release May 4, 2017May 4, 2017
FF Notes While this is a US indicator, it most affects the loonie due to Canada's sizable energy sector;
Also Called Nat Gas Stocks, Nat Gas Inventories, Working Gas;
Acro Expand Energy Information Administration (EIA);
28 Apr9:30AMAUDLOWPPI q/q
Source Australian Bureau of Statistics (latest release)
Measures Change in the price of finished goods and services sold by producers;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released quarterly, on the fourth Friday after the quarter ends;
Next Release Jul 27, 2017Jul 27, 2017
Why Traders
Care
It's a leading indicator of consumer inflation - when producers charge more for goods and services the higher costs are usually passed on to the consumer;
Acro Expand Producer Price Index (PPI);
9:30AMAUDLOWPrivate Sector Credit m/m
Source Reserve Bank of Australia (latest release)
Measures Change in the total value of new credit issued to consumers and businesses;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, on the last business day of the following month;
Next Release May 30, 2017May 30, 2017
Why Traders
Care
Borrowing and spending are positively correlated - consumers and businesses tend to seek credit when they are confident in their future financial position and feel comfortable spending money;
1:30PMEURLOWFrench Flash GDP q/q
Source INSEE (latest release)
Measures Change in the inflation-adjusted value of all goods and services produced by the economy;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released quarterly, about 29 days after the quarter ends;
Next Release Jul 28, 2017Jul 28, 2017
FF Notes There are 3 versions of GDP released about 30 days apart Flash, Prelim, and Final. The Flash release is the earliest and thus tends to have the most impact. The Final is not reported for lack of significance. Source first released in Jan 2016;
Why Traders
Care
It's the broadest measure of economic activity and the primary gauge of the economy's health;
Also Called GDP First Estimate;
Acro Expand Gross Domestic Product (GDP);
2:00PMEURMEDIUMGerman Retail Sales m/m
Source Destatis (latest release)
Measures Change in the total value of inflation-adjusted sales at the retail level, excluding automobiles and gas stations;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, about 30 days after the month ends;
Next Release May 31, 2017May 31, 2017
Why Traders
Care
It's the primary gauge of consumer spending, which accounts for the majority of overall economic activity;
Also Called Real Retail Sales;
2:00PMEURLOWGerman Import Prices m/m
Source Destatis (latest release)
Measures Change in the price of imported goods purchased domestically;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, about 26 days after the month ends;
Next Release May 31, 2017May 31, 2017
Why Traders
Care
It contributes to inflation for businesses and consumers, especially those who rely heavily on imported goods;
Also Called Import Price Index;
2:45PMEURLOWFrench Consumer Spending m/m
Source INSEE (latest release)
Measures Change in the inflation-adjusted value of all goods expenditures by consumers;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, about 27 days after the month ends;
Next Release May 26, 2017May 26, 2017
Why Traders
Care
It's the primary gauge of consumer spending, which accounts for the majority of overall economic activity;
2:45PMEURLOWFrench Prelim CPI m/m
Source INSEE (latest release)
Measures Change in the price of goods and services purchased by consumers;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, around the end of the current month;
Next Release May 30, 2017May 30, 2017
FF Notes There are 2 versions of this report released about a two weeks apart Preliminary and Final. The Preliminary release, which the source first reported in Jan 2016, is the earliest and thus tends to have the most impact. This is one of the few non-seasonally adjusted numbers reported on the calendar, as it's the primary calculation for this indicator;
Acro Expand Consumer Price Index (CPI);
3:00PMEURMEDIUMSpanish Flash GDP q/q
Source Spanish National Statistics Institute (latest release)
Measures Change in the inflation-adjusted value of all goods and services produced by the economy;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released quarterly, about 30 days after the quarter ends;
Next Release Jul 28, 2017Jul 28, 2017
FF Notes There are 2 versions of GDP released about 20 days apart - Flash and Final. The Flash release is the earliest and thus tends to have the most impact. The Final is not reported for lack of significance;
Why Traders
Care
It's the broadest measure of economic activity and the primary gauge of the economy's health;
Acro Expand Gross Domestic Product (GDP);
4:00PMEURMEDIUMM3 Money Supply y/y
Source European Central Bank (latest release)
Measures Change in the total quantity of domestic currency in circulation and deposited in banks;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, about 28 days after the month ends;
Next Release May 29, 2017May 29, 2017
FF Notes Source changed series calculation formula as of May 2001;
Why Traders
Care
It's positively correlated with interest rates - early in the economic cycle an increasing supply of money leads to additional spending and investment, and later in the cycle expanding money supply leads to inflation;
4:00PMEURLOWPrivate Loans y/y
Source European Central Bank (latest release)
Measures Change in the total value of new loans issued to consumers and businesses in the private sector;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, about 28 days after the month ends;
Next Release May 29, 2017May 29, 2017
Why Traders
Care
Borrowing and spending are positively correlated - consumers and businesses tend to seek credit when they are confident in their future financial position and feel comfortable spending money;
5:00PMEURMEDIUMCPI Flash Estimate y/y
Source Eurostat (latest release)
Measures Change in the price of goods and services purchased by consumers;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, on the last business day of the current month;
Next Release May 31, 2017May 31, 2017
FF Notes Eurostat bases this estimate on energy prices and 13 euro area member states that report early CPI data. There are 2 versions of this report released about two weeks apart Flash and Final. The report is extremely early and tends to have a significant impact;
Why Traders
Care
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;
Acro Expand Consumer Price Index (CPI);
5:00PMEURMEDIUMCore CPI Flash Estimate y/y
Source Eurostat (latest release)
Measures Change in the price of goods and services purchased by consumers, excluding food, energy, alcohol, and tobacco;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, on the last business day of the current month;
Next Release May 31, 2017May 31, 2017
FF Notes Eurostat bases this estimate on 13 euro area member states that report early CPI data. There are 2 versions of this report released about two weeks apart Flash and Final. The Flash release, which the source first reported in Apr 2013, is the earliest and thus tends to have the most impact;
Why Traders
Care
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;
Acro Expand Consumer Price Index (CPI);
5:00PMEURLOWItalian Prelim CPI m/m
Source Istat (latest release)
Measures Change in the price of goods and services purchased by consumers;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, around the end of the current month;
Next Release May 30, 2017May 30, 2017
FF Notes There are 2 versions of CPI released about 25 days apart - Preliminary and Final. The Preliminary release is extremely early but has a muted impact due to Italy's relatively small impact on the Eurozone. The Final is not included for lack of significance;
Acro Expand Consumer Price Index (CPI);
8:30PMCADHIGHGDP m/m
Source Statistics Canada (latest release)
Measures Change in the inflation-adjusted value of all goods and services produced by the economy;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, about 60 days after the month ends;
Next Release May 31, 2017May 31, 2017
FF Notes Canada is unique in that they release fresh GDP data on a monthly basis. A quarterly GDP figure is also released, however it's merely a summation of the monthly data;
Why Traders
Care
It's the broadest measure of economic activity and the primary gauge of the economy's health;
Acro Expand Gross Domestic Product (GDP);
8:30PMCADMEDIUMRMPI m/m
Source Statistics Canada (latest release)
Measures Change in the price of raw materials purchased by manufacturers;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, about 30 days after the month ends;
Next Release May 31, 2017May 31, 2017
Why Traders
Care
It's a leading indicator of consumer inflation - when manufacturers pay more for goods the higher costs are usually passed on to the consumer;
Acro Expand Raw Materials Price Index (RMPI);
8:30PMCADLOWIPPI m/m
Source Statistics Canada (latest release)
Measures Change in the price of goods sold by manufacturers;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, about 30 days after the month ends;
Next Release May 31, 2017May 31, 2017
FF Notes Only includes goods produced domestically;
Also Called Factory Gate Prices, Producer Prices;
Acro Expand Industrial Product Price Index (IPPI);
8:30PMUSDHIGHAdvance GDP q/q
Source Bureau of Economic Analysis (latest release)
Measures Annualized change in the inflation-adjusted value of all goods and services produced by the economy;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released quarterly, about 30 days after the quarter ends;
Next Release Jul 28, 2017Jul 28, 2017
FF Notes While this is q/q data, it's reported in an annualized format (quarterly change x4). There are 3 versions of GDP released a month apart Advance, Preliminary, and Final. The Advance release is the earliest and thus tends to have the most impact;
Why Traders
Care
It's the broadest measure of economic activity and the primary gauge of the economy's health;
Also Called GDP First Release, Estimated GDP;
Acro Expand Gross Domestic Product (GDP);
8:30PMUSDMEDIUMAdvance GDP Price Index q/q
Source Bureau of Economic Analysis (latest release)
Measures Annualized change in the price of all goods and services included in GDP;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released quarterly, about 30 days after the quarter ends;
Next Release Jul 28, 2017Jul 28, 2017
FF Notes While this is q/q data, it's reported in an annualized format (quarterly change x4).
Why Traders
Care
It's the broadest measure of inflation, encompassing all activities included in GDP, and is a primary instrument that the central bank uses to assess inflation;
Also Called GDP Deflator;
Acro Expand Gross Domestic Product (GDP);
8:30PMUSDMEDIUMEmployment Cost Index q/q
Source Bureau of Labor Statistics (latest release)
Measures Change in the price businesses and the government pay for civilian labor;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released quarterly, about 30 days after the quarter ends;
Next Release Jul 28, 2017Jul 28, 2017
Why Traders
Care
It's a leading indicator of consumer inflation - when businesses pay more for labor the higher costs are usually passed on to the consumer;
9:45PMUSDMEDIUMChicago PMI
Source ISM-Chicago, Inc (latest release)
Measures Level of a diffusion index based on surveyed purchasing managers in the Chicago area;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, on the last business day of the current month;
Next Release May 31, 2017May 31, 2017
FF Notes Data is given to MNI subscribers 3 minutes before the public release time listed on the calendar - early market reaction is usually a result of trades made by these subscribers. Above 50.0 indicates expansion, below indicates contraction;
Why Traders
Care
It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy;
Derived Via Survey of around 200 purchasing managers in Chicago which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories;
Also Called Chicago Business Barometer;
Acro Expand Purchasing Managers' Index (PMI);
10:00PMUSDMEDIUMRevised UoM Consumer Sentiment
Source University of Michigan (latest release)
Measures Level of a composite index based on surveyed consumers;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, usually on the last Friday of the current month;
Next Release May 26, 2017May 26, 2017
FF Notes The 'Previous' listed is the 'Actual' from the Preliminary release and therefore the 'History' data will appear unconnected. There are 2 versions of this data released about 15 days apart Preliminary and Revised. The Preliminary release is the earliest and thus tends to have more impact;
Derived Via Survey of about 500 consumers which asks respondents to rate the relative level of current and future economic conditions;
Acro Expand University of Michigan (UoM);
10:00PMUSDLOWRevised UoM Inflation Expectations
Source University of Michigan (latest release)
Measures Percentage that consumers expect the price of goods and services to change during the next 12 months;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, usually on the last Friday of the current month;
Next Release May 26, 2017May 26, 2017
FF Notes The 'Previous' listed is the 'Actual' from the Preliminary release and therefore the 'History' data will appear unconnected. There are 2 versions of this data released about 15 days apart Preliminary and Revised. The Preliminary release is the earliest and thus tends to have more impact;
Derived Via Survey of about 500 consumers which asks respondents where they expect prices to be 12 months in the future;
Acro Expand University of Michigan (UoM);
29 Apr1:15AMUSDMEDIUMFOMC Member Brainard Speaks
Description Due to speak about Fintech at Northwestern University's Fintech conference, in Illinois;
Source Federal Reserve (latest release)
Speaker Federal Reserve Governor Lael Brainard;
Usual Effect More hawkish than expected = Good for currency;
FF Notes FOMC voting member Jun 2014 - Jan 2026;
Why Traders
Care
Federal Reserve FOMC members vote on where to set the nation's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy;
Acro Expand Federal Open Market Committee (FOMC);

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