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February, 2019
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TodayYesterday
DateTimeCurrencyImpactDescription
Today
21 Feb
5:00AM AUD LOWFlash Manufacturing PMI
Source Markit (latest release)
Measures Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, around 3 weeks into the current month;
Next Release Mar 21, 2019Mar 21, 2019
FF Notes Above 50.0 indicates industry expansion, below indicates contraction. There are 2 versions of this report released about a week apart Flash and Final. The Flash release, which the source first reported in Oct 2018, is the earliest and thus tends to have the most impact. The Final is not included for lack of significance;
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 about 400 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories;
Acro Expand Purchasing Managers' Index (PMI);
5:00AM AUD LOWFlash Services PMI
Source Markit (latest release)
Measures Level of a diffusion index based on surveyed purchasing managers in the services industry;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, around 3 weeks into the current month;
Next Release Mar 21, 2019Mar 21, 2019
FF Notes Above 50.0 indicates industry expansion, below indicates contraction. There are 2 versions of this report released about a week apart Flash and Final. The Flash release, which the source first reported in Oct 2018, is the earliest and thus tends to have the most impact. The Final is not included for lack of significance;
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 about 400 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories;
Acro Expand Purchasing Managers' Index (PMI);
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 Mar 20, 2019Mar 20, 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 Mar 20, 2019Mar 20, 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;
7:30AM JPY LOWFlash Manufacturing PMI
Source Markit (latest release)
Measures Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, around 3 weeks into the current month;
Next Release Mar 21, 2019Mar 21, 2019
FF Notes Above 50.0 indicates industry expansion, below indicates contraction. There are 2 versions of this report released about a week apart Flash and Final. The Flash release, which the source first reported in May 2014, is the earliest and thus tends to have the most impact;
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 about 400 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories;
Also Called Nikkei Manufacturing PMI;
Acro Expand Purchasing Managers' Index (PMI);
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 Mar 24, 2019Mar 24, 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;
2:00PM EUR LOWGerman Final CPI m/m
Source Destatis (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 11 days after the month ends;
Next Release Mar 14, 2019Mar 14, 2019
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 CPI released about 15 days apart - Preliminary and Final. The Preliminary release is the earliest and thus tends to have the most impact;
Acro Expand Consumer Price Index (CPI);
2:45PM EUR LOWFrench Final CPI m/m
Source INSEE (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 13 days after the month ends;
Next Release Mar 13, 2019Mar 13, 2019
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 CPI released about 15 days 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);
3:15PM EUR HIGHFrench Flash Services PMI
Source Markit (latest release)
Measures Level of a diffusion index based on surveyed purchasing managers in the services industry;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, around 3 weeks into the current month;
Next Release Mar 22, 2019Mar 22, 2019
FF Notes Above 50.0 indicates industry expansion, below indicates contraction. There are 2 versions of this report released about a week apart Flash and Final. The Flash release, which the source first reported in Mar 2008, is the earliest and thus tends to have the most impact;
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 about 300 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories;
Acro Expand Purchasing Managers' Index (PMI);
3:15PM EUR MEDIUMFrench Flash Manufacturing PMI
Source Markit (latest release)
Measures Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, around 3 weeks into the current month;
Next Release Mar 22, 2019Mar 22, 2019
FF Notes Above 50.0 indicates industry expansion, below indicates contraction. There are 2 versions of this report released about a week apart Flash and Final. The Flash release, which the source first reported in Mar 2008, is the earliest and thus tends to have the most impact;
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 about 400 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories;
Acro Expand Purchasing Managers' Index (PMI);
3:30PM EUR HIGHGerman Flash Manufacturing PMI
Source Markit (latest release)
Measures Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, around 3 weeks into the current month;
Next Release Mar 22, 2019Mar 22, 2019
FF Notes Above 50.0 indicates industry expansion, below indicates contraction. There are 2 versions of this report released about a week apart Flash and Final. The Flash release, which the source first reported in Mar 2008, is the earliest and thus tends to have the most impact;
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 about 500 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories;
Acro Expand Purchasing Managers' Index (PMI);
3:30PM EUR HIGHGerman Flash Services PMI
Source Markit (latest release)
Measures Level of a diffusion index based on surveyed purchasing managers in the services industry;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, around 3 weeks into the current month;
Next Release Mar 22, 2019Mar 22, 2019
FF Notes Above 50.0 indicates industry expansion, below indicates contraction. There are 2 versions of this report released about a week apart Flash and Final. The Flash release, which the source first reported in Mar 2008, is the earliest and thus tends to have the most impact;
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 about 500 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories;
Acro Expand Purchasing Managers' Index (PMI);
4:00PM EUR MEDIUMFlash Manufacturing PMI
Source Markit (latest release)
Measures Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, around 3 weeks into the current month;
Next Release Mar 22, 2019Mar 22, 2019
FF Notes Above 50.0 indicates industry expansion, below indicates contraction. There are 2 versions of this report released about a week apart Flash and Final. The Flash release, which the source first reported in Jun 2007, is the earliest and thus tends to have the most impact;
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 about 3000 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories;
Acro Expand Purchasing Managers' Index (PMI);
4:00PM EUR MEDIUMFlash Services PMI
Source Markit (latest release)
Measures Level of a diffusion index based on surveyed purchasing managers in the services industry;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, around 3 weeks into the current month;
Next Release Mar 22, 2019Mar 22, 2019
FF Notes Above 50.0 indicates industry expansion, below indicates contraction. There are 2 versions of this report released about a week apart Flash and Final. The Flash release, which the source first reported in Jun 2007, is the earliest and thus tends to have the most impact;
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 about 600 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories;
Acro Expand Purchasing Managers' Index (PMI);
4:30PM GBP MEDIUMPublic Sector Net Borrowing
Source Office for National Statistics (latest release)
Measures Difference in value between spending and income for public corporations, the central government, and local governments during the previous month;
Usual Effect 'Actual' less than 'Forecast' is good for currency;
Frequency Released monthly, around 23 days after the month ends;
Next Release Mar 21, 2019Mar 21, 2019
FF Notes A positive number indicates a budget deficit, a negative number indicates a surplus. This figure includes "financial interventions" - there is also a figure released at the same time which excludes them;
7:30PM EUR MEDIUMECB Monetary Policy Meeting Accounts
Source European Central Bank (latest release)
Usual Effect More hawkish than expected is good for currency;
Frequency 8 times per year, 4 weeks after the Minimum Bid Rate is announced;
Next Release Apr 4, 2019Apr 4, 2019
FF Notes Source first released in Feb 2015;
Why Traders
Care
It's a detailed record of the ECB Governing 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 European Central Bank (ECB);
8:30PM CAD LOWADP Non-Farm Employment Change
Source Automatic Data Processing, Inc. (latest release)
Measures Estimated change in the number of employed people, excluding the farming industry;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, on the third Thursday after the month ends;
Next Release Mar 21, 2019Mar 21, 2019
FF Notes Source first released in Nov 2017;
Why Traders
Care
Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity;
Derived Via ADP analyzes payroll data from more than 2 million workers to derive employment growth estimations;
Also Called ADP Canada National Employment Report;
Acro Expand Automatic Data Processing, Inc. (ADP);
8:30PM CAD LOWWholesale Sales m/m
Source Statistics Canada (latest release)
Measures Change in the total value of sales at the wholesale level;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 50 days after the month ends;
Next Release Mar 21, 2019Mar 21, 2019
Why Traders
Care
It's a leading indicator of consumer spending - retailers generally order more goods from wholesalers when they expect consumer sales to increase;
Also Called Wholesale Trade;
8:30PM USD HIGHCore Durable Goods Orders m/m
FF Alert Release date delayed by 27 days due to the US government shutdown;
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' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 26 days after the month ends;
Next Release Mar 12, 2019Mar 12, 2019
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;
8:30PM USD MEDIUMDurable Goods Orders m/m
FF Alert Release date delayed by 27 days due to the US government shutdown;
Source Census Bureau (latest release)
Measures Change in the total value of new purchase orders placed with manufacturers for durable goods;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 26 days after the month ends;
Next Release Mar 12, 2019Mar 12, 2019
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;
8:30PM USD MEDIUMPhilly Fed Manufacturing Index
Source Federal Reserve Bank of Philadelphia (latest release)
Measures Level of a diffusion index based on surveyed manufacturers in Philadelphia;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, around the middle of the current month;
Next Release Mar 21, 2019Mar 21, 2019
FF Notes Above 0.0 indicates improving conditions, below indicates worsening conditions;
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 250 manufacturers in the Philadelphia Federal Reserve district which asks respondents to rate the relative level of general business conditions;
Also Called Philadelphia Fed Business Outlook Survey;
8:30PM USD LOWUnemployment 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' less than 'Forecast' is good for currency;
Frequency Released weekly, 5 days after the week ends;
Next Release Feb 28, 2019Feb 28, 2019
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;
9:45PM USD LOWFlash Manufacturing PMI
Source Markit (latest release)
Measures Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, around 3 weeks into the current month;
Next Release Mar 22, 2019Mar 22, 2019
FF Notes Above 50.0 indicates industry expansion, below indicates contraction. There are 2 versions of this report released about a week apart Flash and Final. The Flash release, which the source first reported in May 2012, is the earliest and thus tends to have the most impact;
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 about 600 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories;
Acro Expand Purchasing Managers' Index (PMI);
9:45PM USD LOWFlash Services PMI
Source Markit (latest release)
Measures Level of a diffusion index based on surveyed purchasing managers in the services industry;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, around 3 weeks into the current month;
Next Release Mar 22, 2019Mar 22, 2019
FF Notes Above 50.0 indicates industry expansion, below indicates contraction. There are 2 versions of this report released about a week apart Flash and Final. The Flash release, which the source first reported in Nov 2013, is the earliest and thus tends to have the most impact;
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 about 400 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories;
Acro Expand Purchasing Managers' Index (PMI);
10:00PM USD LOWCB Leading Index m/m
Source The Conference Board Inc. (latest release)
Measures Change in the level of a composite index based on 10 economic indicators;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 20 days after the month ends;
Next Release Mar 21, 2019Mar 21, 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. Source changed series calculation formula as of Jan 2012;
Derived Via Combined reading of 10 economic indicators related to employment, new orders, consumer confidence, housing, stock market prices, credit trends, and interest rate spreads;
Also Called Leading Indicators;
Acro Expand The Conference Board (CB);
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 Mar 22, 2019Mar 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 LOWNatural 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 Feb 28, 2019Feb 28, 2019
FF Notes Inventories are used to maintain price stability during supply shortages and periods of increasing demand;
Also Called Nat Gas Stocks, Nat Gas Inventories, Working Gas;
Acro Expand Energy Information Administration (EIA);
11:00PM 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 Feb 27, 2019Feb 27, 2019
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);
22 Feb12:35AM CAD HIGHBOC Gov Poloz Speaks
FF Alert The text of the speech is due at the release time listed. The speech is scheduled to be delivered 15 minutes later;
Description Due to speak about monetary policy at the Chamber of Commerce of Metropolitan Montreal;
Source Bank of Canada (latest release)
Speaker BOC Governor Stephen Poloz;
Usual Effect More hawkish than expected is good for currency;
FF Notes BOC Governor Jun 2013 - May 2020. Volatility is sometimes 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 Bank of Canada (BOC);
5:30AM AUD HIGHRBA Gov Lowe Speaks
Description Due to testify before the House of Representatives' Standing Committee on Economics, in Sydney;
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);
6:30AM JPY LOWNational Core CPI y/y
Source Statistics Bureau (latest release)
Measures Change in the price of goods and services purchased by consumers, excluding fresh food;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, usually on the third Friday of the following month;
Next Release Mar 21, 2019Mar 21, 2019
Also Called Core CPI, National CPI Ex Fresh Food;
Acro Expand Consumer Price Index (CPI);
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 Mar 20, 2019Mar 20, 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;
2:00PM EUR LOWGerman Final GDP q/q
Source Destatis (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 55 days after the quarter ends;
Next Release May 23, 2019May 23, 2019
FF Notes The 'Previous' listed is the 'Actual' from the Preliminary release and therefore the 'History' data will appear unconnected. As of May 2003 there are 2 versions of this report released about 10 days apart Preliminary and Final. The Preliminary release is the earliest and thus tends to have the most impact;
Acro Expand Gross Domestic Product (GDP);
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 Mar 22, 2019Mar 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);
5:00PM EUR LOWFinal CPI y/y
Source Eurostat (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 Mar 15, 2019Mar 15, 2019
FF Notes The 'Previous' listed is the 'Actual' from the CPI Flash Estimate and therefore the 'History' data will appear unconnected. This is considered the Eurozone's most important inflation data because it's used as the central bank's inflation target, but it tends to have a relatively mild impact as the CPI Flash Estimate and German Prelim CPI are released about 15 days earlier;
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);
5:00PM EUR LOWFinal Core CPI 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' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 16 days after the month ends;
Next Release Mar 15, 2019Mar 15, 2019
FF Notes The 'Previous' listed is the 'Actual' from the Flash Core CPI Estimate and therefore the 'History' data will appear unconnected. 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;
Acro Expand Consumer Price Index (CPI);
8:30PM CAD HIGHCore Retail Sales m/m
Source Statistics Canada (latest release)
Measures Change in the total value of sales at the retail level, excluding automobiles;
Usual Effect 'Actual' greater than 'Forecast' is good for currency;
Frequency Released monthly, about 50 days after the month ends;
Next Release Mar 22, 2019Mar 22, 2019
FF Notes Automobile sales account for about 20% of Retail Sales, but they tend to be very volatile and distort the underlying trend. The Core data is therefore thought to be a better gauge of spending trends;
Also Called Retail Sales Ex Autos;
8:30PM CAD MEDIUMRetail Sales m/m
Source Statistics Canada (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 50 days after the month ends;
Next Release Mar 22, 2019Mar 22, 2019
Why Traders
Care
It's the primary gauge of consumer spending, which accounts for the majority of overall economic activity;
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 Mar 25, 2019Mar 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);
10:15PM USD MEDIUMFOMC Member Williams Speaks
Description Due to participate in a panel discussion titled "The Prospects for Inflation with a High-Pressure Economy" at the US Monetary Policy Forum, in New York;
Source Federal Reserve Bank of New York (latest release)
Speaker Federal Reserve Bank of New York President John Williams;
Usual Effect More hawkish than expected is good for currency;
Next Release Feb 22, 2019Feb 22, 2019
FF Notes FOMC voting member 2012, 2015, 2018 and 2019. In Jun 2018 his title changed from Federal Reserve Bank of San Francisco President to Federal Reserve Bank of New York President;
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);
10:30PM EUR HIGHECB President Draghi Speaks
Description Due to speak as he accepts an honorary degree from the University of Bologna;
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);
23 Feb12:00AM USD MEDIUMFOMC Member Clarida Speaks
Description Due to deliver a speech titled "The Federal Reserve's Review of Monetary Policy Strategies, Tools, and Communications" at the US Monetary Policy Forum, in New York;
Source Federal Reserve (latest release)
Speaker Federal Reserve Governor Richard Clarida;
Usual Effect More hawkish than expected is good for currency;
FF Notes FOMC voting member Sep 2018 - Jan 2022;
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);
1:30AM USD MEDIUMFOMC Member Bullard Speaks
Description Due to participate in a panel discussion titled "The Future of the Federal Reserve's Balance Sheet" at the US Monetary Policy Forum, in New York;
Source Federal Reserve Bank of St. Louis (latest release)
Speaker Federal Reserve Bank of St. Louis President James Bullard;
Usual Effect More hawkish than expected is good for currency;
FF Notes FOMC voting member 2010, 2013, 2016, and 2019;
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);
1:30AM USD MEDIUMFOMC Member Quarles Speaks
Description Due to participate in a panel discussion titled "The Future of the Federal Reserve's Balance Sheet" at the US Monetary Policy Forum, in New York;
Source Federal Reserve (latest release)
Speaker Federal Reserve Governor Randal Quarles;
Usual Effect More hawkish than expected is good for currency;
FF Notes FOMC voting member Oct 2017 - Jan 2032;
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);
5:30AM USD MEDIUMFOMC Member Williams Speaks
Description Due to deliver closing remarks at the First Annual Joint Research Day on Quantitative Tools for Monitoring Macroeconomic and Financial Conditions, organized by the Federal Reserve Banks of Atlanta and New York, in New York;
Source Federal Reserve Bank of New York (latest release)
Speaker Federal Reserve Bank of New York President John Williams;
Usual Effect More hawkish than expected is good for currency;
FF Notes FOMC voting member 2012, 2015, 2018 and 2019. In Jun 2018 his title changed from Federal Reserve Bank of San Francisco President to Federal Reserve Bank of New York President;
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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