Calendar

December, 2017
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TodayYesterday
DateTimeCurrencyImpactDescription
Today
11 Dec
4:00PMEURLOWItalian Retail Sales m/m
Source Istat (latest release)
Measures Change in the total value of sales at the retail level;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 35 days after the month ends;
Next Release Jan 8, 2018Jan 8, 2018
Why Traders
Care
It's the primary gauge of consumer spending, which accounts for the majority of overall economic activity;
10:00PMUSDLOWJOLTS Job Openings
Source Bureau of Labor Statistics (latest release)
Measures Number of job openings during the reported month, excluding the farming industry;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 40 days after the month ends;
Next Release Jan 9, 2018Jan 9, 2018
FF Notes It's released late, but can impact the market because job openings are a leading indicator of overall employment;
Acro Expand Job Openings and Labor Turnover Summary (JOLTS);
12 Dec1:01AMUSDLOW10-y Bond Auction
Source Treasury Direct (latest release)
Measures Highest yield on 10-year bonds the government sold at auction, and the bid-to-cover ratio of the auction;
Usual Effect No consistent effect - there are both risk and growth implications;
Frequency Conducted monthly;
Next Release Jan 10, 2018Jan 10, 2018
FF Notes Auction results are reported in an 'X.XX|X.X' format - the first number is the highest interest rate of the bonds sold, and the second number is the bid-to-cover ratio (number of bids made per bid accepted);
Why Traders
Care
Yields are set by bond market investors, and therefore they can be used to decipher investors' outlook on future interest rates. The bid-to-cover ratio represents bond market liquidity and demand, which can be used to gauge investor confidence;
Also Called Treasury Auction, Note Auction;
7:30AMAUDMEDIUMHPI q/q
Source Australian Bureau of Statistics (latest release)
Measures Change in the selling price of homes in the nation's 8 state capitals;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released quarterly, about 75 days after the quarter ends;
Next Release Mar 19, 2018Mar 19, 2018
Why Traders
Care
It's a leading indicator of the housing industry's health because rising house prices attract investors and spur industry activity;
Acro Expand House Price Index (HPI);
7:30AMAUDMEDIUMNAB Business Confidence
Source National Australia Bank Limited (latest release)
Measures Level of a diffusion index based on surveyed businesses, excluding the farming industry;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 11 days after the month ends;
Next Release Jan 22, 2018Jan 22, 2018
FF Notes Above 0 indicates improving conditions, below indicates worsening conditions. There's a quarterly and monthly version of this survey - although the monthly survey is more timely, the quarterly version tends to have more impact due to a larger sample size and additional questions regarding expectations;
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 350 businesses which asks respondents to rate the relative level of current business conditions;
Acro Expand National Australia Bank (NAB);
1:30PMEURLOWFrench Final Private Payrolls q/q
Source INSEE (latest release)
Measures Change in the number of employed people, excluding the farming industry and government;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released quarterly, about 75 days after the quarter ends;
Next Release Mar 8, 2018Mar 8, 2018
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 indicator released about a month apart - Preliminary and Final. The Preliminary release is the earliest and thus tends to have the most impact;
Also Called Non-Farm Employment, Revised Employment;
5:00PMEURMEDIUMGerman ZEW Economic Sentiment
Source ZEW (latest release)
Measures Level of a diffusion index based on surveyed German institutional investors and analysts;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, on the second or third Tuesday of the current month;
Next Release Jan 16, 2018Jan 16, 2018
FF Notes Above 0.0 indicates optimism, below indicates pessimism;
Why Traders
Care
It's a leading indicator of economic health - investors and analysts are highly informed by virtue of their job, and changes in their sentiment can be an early signal of future economic activity;
Derived Via Survey of about 300 German institutional investors and analysts which asks respondents to rate the relative 6-month economic outlook for Germany;
Acro Expand Zentrum fur Europaische Wirtschaftsforschung (ZEW);
5:00PMEURLOWZEW Economic Sentiment
Source ZEW (latest release)
Measures Level of a diffusion index based on surveyed German institutional investors and analysts;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, on the second or third Tuesday of the current month;
Next Release Jan 16, 2018Jan 16, 2018
FF Notes Above 0.0 indicates optimism, below indicates pessimism. The ZEW survey is historically focused on the German economy, and Germany tends to lead the Eurozone economy, so this overall Eurozone outlook tends to be overshadowed by the German data released at the same time;
Why Traders
Care
It's a leading indicator of economic health - investors and analysts are highly informed by virtue of their job, and changes in their sentiment can be an early signal of future economic activity;
Derived Via Survey of about 275 German institutional investors and analysts which asks respondents to rate the relative 6-month economic outlook for the Eurozone;
Acro Expand Zentrum fur Europaische Wirtschaftsforschung (ZEW);
6:00PMUSDLOWNFIB Small Business Index
Source NFIB (latest release)
Measures Level of a composite index based on surveyed small businesses;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 11 days after the month ends;
Next Release Jan 9, 2018Jan 9, 2018
FF Notes Small Businesses are defined as an independent for-profit enterprise that employ between 1 and 250 people, not including the owners;
Derived Via Survey of small businesses which asks respondents to rate the relative level of economic conditions including labor markets, inventories and sales, capital spending, inflation, earnings and wages, and credit markets;
Acro Expand National Federation of Independent Business (NFIB);
8:30PMUSDHIGHPPI m/m
Source Bureau of Labor Statistics (latest release)
Measures Change in the price of finished goods and services sold by producers;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 14 days after the month ends;
Next Release Jan 11, 2018Jan 11, 2018
FF Notes Source changed series calculation formula as of Feb 2014;
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;
Also Called Finished Goods PPI, Wholesale Prices, PPI for Final Demand;
Acro Expand Producer Price Index (PPI);
8:30PMUSDMEDIUMCore PPI m/m
Source Bureau of Labor Statistics (latest release)
Measures Change in the price of finished goods and services sold by producers, excluding food and energy;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 14 days after the month ends;
Next Release Jan 11, 2018Jan 11, 2018
FF Notes Source changed series calculation formula as of Feb 2014. Food and energy prices make up about 40% of overall PPI which tends to mute the importance of the Core data;
Also Called Core Finished Goods PPI, Core PPI for Final Demand;
Acro Expand Producer Price Index (PPI);
13 Dec1:01AMUSDLOW30-y Bond Auction
Source Treasury Direct (latest release)
Measures Highest yield on a 30-year bond the government sold at auction, and the bid-to-cover ratio of the auction;
Usual Effect No consistent effect - there are both risk and growth implications;
Frequency Conducted monthly;
Next Release Jan 11, 2018Jan 11, 2018
FF Notes Auction results are reported in an 'X.XX|X.X' format - the first number is the highest interest rate of the bonds sold, and the second number is the bid-to-cover ratio (number of bids made per bid accepted);
Why Traders
Care
Yields are set by bond market investors, and therefore they can be used to decipher investors' outlook on future interest rates. The bid-to-cover ratio represents bond market liquidity and demand, which can be used to gauge investor confidence;
Also Called Treasury Auction;
2:00AMEURHIGHECB President Draghi Speaks
Description Due to speak at the 2017 European Cultural Days Closing Concert hosted by the ECB, in Frankfurt;
Source European Central Bank (latest release)
Speaker ECB President Mario Draghi;
Usual Effect More hawkish than expected is good for currency;
FF Notes ECB President Nov 2011 - Nov 2019. Volatility is often experienced during his speeches as traders attempt to decipher interest rate clues;
Why Traders
Care
As head of the ECB, which controls short term interest rates, he has more influence over the euro's 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 European Central Bank (ECB);
2:00AMUSDLOWFederal Budget Balance
Source US Department of the Treasury (latest release)
Measures Difference in value between the federal government's income and spending during the previous month;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, usually on the eighth business day after the month ends;
Next Release Jan 11, 2018Jan 11, 2018
FF Notes A positive number indicates a budget surplus, a negative number indicates a deficit;
Also Called Monthly Treasury Statement, Treasury Budget;
5:15AMAUDHIGHRBA Gov Lowe Speaks
Description Due to deliver a speech titled "An eAUD?" at the 2017 Australian Payment Summit, in Sydney. Audience questions expected;
Source Reserve Bank of Australia (latest release)
Speaker RBA Governor Philip Lowe;
Usual Effect More hawkish than expected is good for currency;
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);
6:30AMAUDLOWWestpac Consumer Sentiment
Source Westpac Banking Corporation (latest release)
Measures Change in the level of a diffusion index based on surveyed consumers;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, on the second or third Wednesday of the current month;
Next Release Jan 16, 2018Jan 16, 2018
FF Notes The impact tends to be mild but varies from month to month due to volatility in the data set;
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 1,200 consumers which asks respondents to rate the relative level of past and future economic conditions, employment, and climate for major purchases;
Also Called Westpac-Melbourne Institute Consumer Sentiment;
7:00AMAUDMEDIUMRBA Assist Gov Kent Speaks
Description Due to deliver a speech titled "The Availability of Business Finance" at the 30th Australasian Finance and Banking Conference, in Sydney. Audience questions expected;
Source Reserve Bank of Australia (latest release)
Speaker RBA Assistant Governor (Financial Markets) Christopher Kent;
Usual Effect More hawkish than expected is good for currency;
Why Traders
Care
He's responsible for advising Reserve Bank Board members - who decide where to set the nation's key interest rates - on matters relating to economics, and his public engagements are often used to drop subtle clues regarding future policy shifts;
Acro Expand Reserve Bank of Australia (RBA);

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