Calendar

December, 2018
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TodayYesterday
DateTimeCurrencyImpactDescription
Today
18 Dec
7:00AM NZD MEDIUMANZ Business Confidence
Source ANZ (latest release)
Measures Level of a diffusion index based on surveyed manufacturers, builders, retailers, agricultural firms, and service providers;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, excluding January, around the end of the current month;
Next Release Feb 27, 2019Feb 27, 2019
FF Notes Above 0.0 indicates optimism, below indicates pessimism;
Why Traders
Care
It's a leading indicator of economic health - businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment;
Derived Via Survey of about 1,500 businesses which asks respondents to rate the relative 12-month economic outlook;
7:30AM AUD MEDIUMMonetary Policy Meeting Minutes
Source Reserve Bank of Australia (latest release)
Usual Effect More hawkish than expected is good for currency;
Frequency 11 times per year, 2 weeks after the Cash Rate is announced;
Next Release Feb 18, 2019Feb 18, 2019
FF Notes Source first released in Dec 2007;
Why Traders
Care
It's a detailed record of the RBA Reserve Bank Board's most recent meeting, providing in-depth insights into the economic conditions that influenced their decision on where to set interest rates;
Acro Expand Reserve Bank of Australia (RBA);
1:45PM CHF LOWSECO Economic Forecasts
Source SECO (latest release)
Frequency Quarterly;
Next Release Mar 19, 2019Mar 19, 2019
FF Notes This report forecasts the major GDP components such as consumption and investment, together with key indicators including employment and inflation;
Why Traders
Care
SECO is the federal government's source of expertise for all core issues relating to economic policy and their forecasts are well respected by market participants;
Acro Expand State Secretariat for Economic Affairs (SECO);
4:00PM EUR MEDIUMGerman Ifo Business Climate
Source Ifo Institute for Economic Research (latest release)
Measures Level of a composite index based on surveyed manufacturers, builders, wholesalers, services, and retailers;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, around 3 weeks into the current month;
Next Release Jan 22, 2019Jan 22, 2019
FF Notes This survey is highly respected due to its large sample size and historic correlation with German and wider Eurozone economic conditions. It tends to create a hefty market impact upon release. Source changed series from a base year of 2000 to a base year of 2005, as of May 2011, and changed series to include services, as of Apr 2018;
Why Traders
Care
It's a leading indicator of economic health - businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment;
Derived Via Survey of about 7,000 businesses which asks respondents to rate the relative level of current business conditions and expectations for the next 6 months;
Acro Expand Information and Forschung (Ifo);
8:30PM CAD LOWManufacturing Sales m/m
Source Statistics Canada (latest release)
Measures Change in the total value of sales made by manufacturers;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 45 days after the month ends;
Why Traders
Care
It's a leading indicator of economic health - manufacturers are quickly affected by market conditions, and changes in their sales can be an early signal of future activity such as spending, hiring, and investment;
Also Called Manufacturing Shipments, Factory Sales;
8:30PM USD MEDIUMBuilding Permits
Source Census Bureau (latest release)
Measures Annualized number of new residential building permits issued during the previous month;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 17 days after the month ends;
Next Release Jan 17, 2019Jan 17, 2019
FF Notes While this is monthly data, it's reported in an annualized format (monthly figure x12);
Why Traders
Care
It's an excellent gauge of future construction activity because obtaining a permit is among the first steps in constructing a new building;
Also Called Residential Building Permits;
8:30PM USD MEDIUMHousing Starts
Source Census Bureau (latest release)
Measures Annualized number of new residential buildings that began construction during the previous month;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 17 days after the month ends;
Next Release Jan 17, 2019Jan 17, 2019
FF Notes While this is monthly data, it's reported in an annualized format (monthly figure x12). This data is slightly overshadowed by Building Permits because they are tightly correlated and a permit must be issued before a house can begin construction;
Why Traders
Care
It's a leading indicator of economic health because building construction produces a wide-reaching ripple effect. For example, jobs are created for the construction workers, subcontractors and inspectors are hired, and various construction services are purchased by the builder;
19 Dec3:00AM NZD MEDIUMWestpac Consumer Sentiment
Source Westpac Banking Corporation (latest release)
Measures Level of a diffusion index based on surveyed consumers;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released quarterly, about 80 days into the current quarter;
Next Release Mar 18, 2019Mar 18, 2019
FF Notes Above 100.0 indicates optimism, below indicates pessimism;
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 1,500 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;
Also Called Westpac/McDermott Miller Consumer Confidence;
4:45AM NZD MEDIUMCurrent Account
Source Statistics New Zealand (latest release)
Measures Difference in value between imported and exported goods, services, income flows, and unilateral transfers during the previous quarter;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released quarterly, about 80 days after the quarter ends;
Next Release Mar 19, 2019Mar 19, 2019
FF Notes This is among the few non-seasonally adjusted numbers reported on the calendar, as it's the data most commonly reported. The goods portion has no impact because it's a duplicate of the monthly Trade Balance data;
Why Traders
Care
It's directly linked to currency demand - a rising surplus indicates that foreigners are buying more of the domestic currency to execute transactions in the country;
6:30AM AUD LOWMI Leading Index m/m
Source Melbourne Institute (latest release)
Measures Change in the level of a composite index based on 9 economic indicators;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, usually the third Wednesday after the month ends;
Next Release Jan 15, 2019Jan 15, 2019
FF Notes 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. Full reports are only available to Melbourne Institute subscribers;
Derived Via Combined reading of 9 economic indicators related to consumer confidence, housing, stock market prices, unemployment expectations, hours worked, commodity prices, and interest rate spreads;
Also Called Westpac/MI Indexes of Economic Activity, Westpac Leading Index;
Acro Expand Melbourne Institute (MI);
6:50AM JPY LOWTrade Balance
Source Ministry of Finance (latest release)
Measures Difference in value between imported and exported goods during the reported month;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 20 days after the month ends;
Next Release Jan 22, 2019Jan 22, 2019
FF Notes This is the seasonally adjusted data (as most FF numbers are), not to be confused with the non-seasonally adjusted number reported by some news agencies. A positive number indicates that more goods were exported than imported;
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 Adjusted Merchandise Trade Balance;
2:00PM EUR LOWGerman PPI m/m
Source Destatis (latest release)
Measures Change in the price of goods sold by manufacturers;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 20 days after the month ends;
Next Release Jan 21, 2019Jan 21, 2019
Why Traders
Care
It's a leading indicator of consumer inflation - when manufacturers charge more for goods the higher costs are usually passed on to the consumer;
Acro Expand Producer Price Index (PPI);
4:30PM GBP HIGHCPI y/y
Source Office for National Statistics (latest release)
Measures Change in the price of goods and services purchased by consumers;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 16 days after the month ends;
Next Release Jan 16, 2019Jan 16, 2019
FF Notes This is considered the UK's most important inflation data because it's used as the central bank's inflation target;
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;
Derived Via The average price of various goods and services are sampled and then compared to the sampling done a year earlier;
Acro Expand Consumer Price Index (CPI);
4:30PM GBP MEDIUMPPI Input m/m
Source Office for National Statistics (latest release)
Measures Change in the price of goods and raw materials purchased by manufacturers;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 15 days after the month ends;
Next Release Jan 16, 2019Jan 16, 2019
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 Producer Price Index (PPI), Consumer Price Index (CPI);
4:30PM GBP MEDIUMRPI y/y
Source Office for National Statistics (latest release)
Measures Change in the price of goods and services purchased by consumers for the purpose of consumption;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 16 days after the month ends;
Next Release Jan 16, 2019Jan 16, 2019
FF Notes RPI differs from CPI in that it only measures goods and services bought for the purpose of consumption by the vast majority of households, and it includes housing costs which are excluded from CPI;
Acro Expand Retail Price Index (RPI), Consumer Price Index (CPI);
4:30PM GBP LOWCore CPI y/y
Source Office for National Statistics (latest release)
Measures Change in the price of goods and services purchased by consumers, excluding the volatile food, energy, alcohol, and tobacco items;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 16 days after the month ends;
Next Release Jan 16, 2019Jan 16, 2019
FF Notes The Core data has a mild impact relative to other countries because overall CPI is the central bank's mandated inflation target;
Acro Expand Consumer Price Index (CPI);
4:30PM GBP LOWHPI y/y
Source UK Government (latest release)
Measures Change in the selling price of homes;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 45 days after the month ends;
Next Release Jan 16, 2019Jan 16, 2019
FF Notes Source first released in Jun 2016;
Acro Expand House Price Index (HPI);
4:30PM GBP LOWPPI Output m/m
Source Office for National Statistics (latest release)
Measures Change in the price of goods sold by manufacturers;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 15 days after the month ends;
Next Release Jan 16, 2019Jan 16, 2019
FF Notes Only includes goods produced domestically;
Also Called Factory Gate Prices;
Acro Expand Producer Price Index (PPI);
6:00PM GBP LOWCBI Industrial Order Expectations
FF Alert Initial release time was shifted 2 days later due to source rescheduling;
Source Confederation of British Industry (latest release)
Measures Level of a diffusion index based on surveyed manufacturers;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, around 3 weeks into the current month;
Next Release Jan 22, 2019Jan 22, 2019
FF Notes Above 0 indicates increasing order volume is expected, below indicates expectations are for lower volume;
Why Traders
Care
It's a leading indicator of economic health - businesses react quickly to market conditions, and changes in their expectations can be an early signal of future economic activity such as spending, hiring, and investment;
Derived Via Survey of about 550 manufacturers which asks respondents to rate the relative level of order volume expected during the next 3 months;
Also Called Industrial Trends Survey;
Acro Expand Confederation of British Industry (CBI);
8:30PM CAD HIGHCPI m/m
Source Statistics Canada (latest release)
Measures Change in the price of goods and services purchased by consumers;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 20 days after the month ends;
FF Notes This is the most important inflation-related release due to its earliness and broad scope. This is among the few non-seasonally adjusted numbers reported on the calendar, as it's the calculation most commonly reported;
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;
Derived Via The average price of various goods and services are sampled and then compared to the previous sampling;
Also Called All Items CPI;
Acro Expand Consumer Price Index (CPI);
8:30PM CAD MEDIUMCommon CPI y/y
Source Statistics Canada (latest release)
Measures Change in the price of goods and services, purchased by consumers, which have similar price variations over time;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 20 days after the month ends;
FF Notes Source first released in Dec 2016;
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;
Derived Via The average price of various goods and services are sampled and then compared to the previous sampling;
Acro Expand Consumer Price Index (CPI);
8:30PM CAD MEDIUMMedian CPI y/y
Source Statistics Canada (latest release)
Measures Change in the median price of goods and services purchased by consumers;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 20 days after the month ends;
FF Notes Source first released in Dec 2016;
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;
Derived Via The average price of various goods and services are sampled and then compared to the previous sampling;
Acro Expand Consumer Price Index (CPI);
8:30PM CAD MEDIUMTrimmed CPI y/y
Source Statistics Canada (latest release)
Measures Change in the price of goods and services purchased by consumers, excluding the most volatile 40% of items;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 20 days after the month ends;
FF Notes Source first released in Dec 2016;
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;
Derived Via The average price of various goods and services are sampled and then compared to the previous sampling;
Acro Expand Consumer Price Index (CPI);
8:30PM CAD LOWCore CPI m/m
Source Statistics Canada (latest release)
Measures Change in the price of goods and services purchased by consumers, excluding the 8 most volatile items;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 20 days after the month ends;
FF Notes Volatile items account for about a quarter of CPI but they tend to be very volatile and distort the underlying trend. This is among the few non-seasonally adjusted numbers reported on the calendar, as it's the calculation most commonly reported;
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;
Also Called CPI Ex Volatile Items;
Acro Expand Consumer Price Index (CPI);
8:30PM USD LOWCurrent Account
Source Bureau of Economic Analysis (latest release)
Measures Difference in value between imported and exported goods, services, income flows, and unilateral transfers during the previous quarter;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released quarterly, about 75 days after the quarter ends;
Next Release Mar 21, 2019Mar 21, 2019
FF Notes The goods and services portion has no impact because it's a duplicate of the monthly Trade Balance data;
Why Traders
Care
It's directly linked to currency demand - a rising surplus indicates that foreigners are buying more of the domestic currency to execute transactions in the country;
Also Called International Transactions;
9:00PM CHF LOWSNB Quarterly Bulletin
Source Swiss National Bank (latest release)
Usual Effect More hawkish than expected is good for currency;
Frequency Released quarterly;
Next Release Mar 20, 2019Mar 20, 2019
FF Notes Tends to have a mild impact because much of the information is released 2 weeks earlier in the Monetary Policy Assessment;
Acro Expand Swiss National Bank (SNB);
9:00PM CNY LOWCB Leading Index m/m
Source The Conference Board Inc. (latest release)
Measures Change in the level of a composite index based on 8 economic indicators;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 15 days after the month ends;
FF Notes 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. Source first released in May 2010;
Derived Via Combined reading of 8 economic indicators related to consumer expectations, export orders, industry profitability, logistics index, total loans issued, construction started, labour demand and imports of capital goods;
Also Called Leading Indicators;
Acro Expand The Conference Board (CB);
9:00PM EUR LOWBelgian NBB Business Climate
Source National Bank of Belgium (latest release)
Measures Level of a composite index based on surveyed manufacturers, builders, services, and trade-related firms;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, around 3 weeks into the current month;
Next Release Jan 25, 2019Jan 25, 2019
FF Notes Above 0.0 indicates improving conditions, below indicates worsening conditions. This survey is highly respected due to its source and large sample size. Source changed series calculation formula as of April 2009;
Why Traders
Care
It's a leading indicator of economic health - businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment;
Derived Via Survey of about 6,000 businesses which asks respondents to rate the relative level of current business conditions and expectations for the next 6 months;
Also Called Business Confidence Gross Synthetic Curve;
Acro Expand National Bank of Belgium (NBB);
10:00PM USD LOWExisting Home Sales
Source National Association of Realtors (latest release)
Measures Annualized number of residential buildings that were sold during the previous month, excluding new construction;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 20 days after the month ends;
Next Release Jan 22, 2019Jan 22, 2019
FF Notes While this is monthly data, it's reported in an annualized format (monthly figure x12);
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 Home Resales;
10:30PM USD LOWCrude Oil Inventories
Source Energy Information Administration (latest release)
Measures Change in the number of barrels of crude oil held in inventory by commercial firms during the past week;
Usual Effect No consistent effect - there are both inflationary and growth implications;
Frequency Released weekly, 4 days after the week ends;
Next Release Dec 28, 2018Dec 28, 2018
FF Notes While this is a US indicator, it most affects the loonie due to Canada's sizable energy sector;
Why Traders
Care
It's the primary gauge of supply and demand imbalances in the market, which can lead to changes in production levels and price volatility;
Also Called Crude Stocks, Crude Levels;
Acro Expand Energy Information Administration (EIA);
20 Dec2:00AM USD HIGHFOMC Economic Projections
Source Federal Reserve (latest release)
Usual Effect More hawkish than expected is good for currency;
Frequency Scheduled 4 times per year;
Next Release Mar 20, 2019Mar 20, 2019
FF Notes This report includes the FOMC's projection for inflation and economic growth over the next 2 years and, more importantly, a breakdown of individual FOMC member's interest rate forecasts. Source first released in Apr 2011;
Why Traders
Care
It's the primary tool the Fed uses to communicate their economic and monetary projections to investors;
Acro Expand Federal Open Market Committee (FOMC);
2:00AM USD HIGHFOMC Statement
Source Federal Reserve (latest release)
Usual Effect More hawkish than expected is good for currency;
Frequency Scheduled 8 times per year;
Next Release Jan 30, 2019Jan 30, 2019
FF Notes The FOMC usually changes the statement slightly at each release. It's these changes that traders focus on;
Why Traders
Care
It's the primary tool the FOMC uses to communicate with investors about monetary policy. It contains the outcome of their vote on interest rates and other policy measures, along with commentary about the economic conditions that influenced their votes. Most importantly, it discusses the economic outlook and offers clues on the outcome of future votes;
Also Called Interest Rate Statement, Fed Statement, Monetary Policy Statement;
Acro Expand Federal Open Market Committee (FOMC);
2:00AM USD HIGHFederal Funds Rate
Source Federal Reserve (latest release)
Measures Interest rate at which depository institutions lend balances held at the Federal Reserve to other depository institutions overnight;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Scheduled 8 times per year;
Next Release Jan 30, 2019Jan 30, 2019
FF Notes The rate decision is usually priced into the market, so it tends to be overshadowed by the FOMC Statement, which is focused on the future;
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 FOMC members vote on where to set the target rate. The individual votes are published in the FOMC statement;
Also Called Interest Rates, Fed Funds Rate;
Acro Expand Federal Open Market Committee (FOMC);
2:30AM USD HIGHFOMC Press Conference
Source Federal Reserve (latest release)
Speaker Federal Reserve Chair;
Usual Effect More hawkish than expected is good for currency;
Frequency Scheduled 4 times per year;
Next Release Mar 20, 2019Mar 20, 2019
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 Fed's Ustream channel in real-time. Source first conducted in Apr 2011;
Why Traders
Care
It's among the primary methods the Fed 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, along with commentary about economic conditions such as the future growth outlook and inflation. Most importantly, it provides clues regarding future monetary policy;
Also Called Chair's Press Briefing;
Acro Expand Federal Open Market Committee (FOMC), Federal Reserve (Fed);
4:45AM NZD HIGHGDP q/q
Source Statistics New Zealand (latest release)
Measures Change in the inflation-adjusted value of all goods and services produced by the economy;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released quarterly, about 75 days after the quarter ends;
Next Release Mar 20, 2019Mar 20, 2019
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);
4:45AM NZD MEDIUMTrade Balance
Source Statistics New Zealand (latest release)
Measures Difference in value between imported and exported goods during the reported month;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 26 days after the month ends;
Next Release Jan 28, 2019Jan 28, 2019
FF Notes A positive number indicates that more goods were exported than imported;
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 Overseas Merchandise Trade;
7:30AM AUD HIGHEmployment Change
Source Australian Bureau of Statistics (latest release)
Measures Change in the number of employed people during the previous month;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 15 days after the month ends;
Next Release Jan 23, 2019Jan 23, 2019
FF Notes This is vital economic data released shortly after the month ends. The combination of importance and earliness makes for hefty market impacts;
Why Traders
Care
Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity;
7:30AM AUD HIGHUnemployment Rate
Source Australian Bureau of Statistics (latest release)
Measures Percentage of the total work force that is unemployed and actively seeking employment during the previous month;
Usual Effect 'Actual' less than 'Forecast' is good for currency;
Frequency Released monthly, about 15 days after the month ends;
Next Release Jan 23, 2019Jan 23, 2019
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;
9:00AM NZD LOWCredit Card Spending y/y
Source Reserve Bank of New Zealand (latest release)
Measures Change in total spending facilitated with a credit card;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 21 days after the month ends;
Next Release Jan 23, 2019Jan 23, 2019
Why Traders
Care
It's correlated with consumer spending and confidence - rising debt levels are a sign that lenders feel comfortable issuing loans, and that consumers are confident in their financial position and eager to spend money;
11:30AM JPY LOWAll Industries Activity m/m
Source METI (latest release)
Measures Change in the total value of goods and services purchased by businesses;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 50 days after the month ends;
Next Release Jan 22, 2019Jan 22, 2019
FF Notes Tends to have a muted impact because the services data, which accounts for around 60% of total industry activity, is covered in the Tertiary Industry Activity report released about a week earlier;
Why Traders
Care
It's a leading indicator of economic health - businesses are quickly affected by market conditions, and changes in their spending can be an early signal of future economic activity such as hiring, earnings, and investment;

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