FX.co ★ Traders economic calendar. International economic events

M3 Money Supply measures the change in the total quantity of domestic currency in circulation and deposited in banks. An increasing supply of money leads to additional spending, which in turn leads to inflation.

C2 stands for ""Credit from domestic sources in NOK and foreign currency"", ie ""the indicator of gross domestic debt for the non-financial private sector and municipalities in NOK and foreign currency"". In addition to C1, ""Credit from domestic sources in NOK and foreign currency"" (C2) consists of lending to the public in foreign currency by Norwegian financial corporations. All growth rate calculations based on holdings which include foreign currency loans are adjusted for changes in exchange rates in order to eliminate all changes not related to transactions. The growth rate calculations are also adjusted for statistical breaks which are not attributable to transactions or valuation changes. An example of this kind of break could be that a financial enterprise moves from one sector to another.

The Gfk German Consumer Climate Index measures the level of consumer confidence in economic activity. The data is compiled from a survey of about 2,000 consumers which asks respondents to rate the relative level of past and future economic conditions.

A higher than expected reading should be taken as positive/bullish for the EUR,while a lower than expected reading should be taken as negative/bearish for the EUR.

The Confederation of British Industry (CBI) Distributive Trades Survey (DTS) measures the health of the retail sector. The reading is compiled from a survey of about 150 retail and wholesale companies. It includes measures of sales activity across the distributive trades. It is a leading indicator of consumer spending. The figure is the difference between the percentage of retailers reporting an increase in sales and those reporting a decrease.

A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.

Israeli Industrial Production measures the change in the seasonally adjusted Industrial Production Index. Industrial Production Index is an economic indicator that measures changes in output for the manufacturing, mining, and utilities. Although these sectors contribute only a small portion of GDP, they are highly sensitive to interest rates and consumer demand. This makes Industrial Production an important tool for forecasting future GDP and economic performance. A higher than expected number should be taken as positive to the ILS, while a lower than expected number as negative

The Focus Market Report provides weekly mean market expectations for inflation over following month, 12 months, and following year as well as expectations for Selic target rate, real GDP growth, net public sector debt/GDP, industrial production growth, current account, and trade balance, collected from over 130 banks, brokers, and funds managers.

Bank Lending measures the change in the total value of outstanding bank loans issued to consumers and businesses. Borrowing and spending are closely correlated with consumer confidence. A higher than expected reading should be taken as positive/bullish for the BRL , while a lower than expected reading should be taken as negative/bearish for the BRL.

The Trade Balance measures the difference in value between imported and exported goods and services over the reported period. A positive number indicates that more goods and services were exported than imported.

A higher than expected reading should be taken as positive/bullish for the MXN, while a lower than expected reading should be taken as negative/bearish for the MXN.

Trade balance, called also net export, is the difference between the value of country's exports and imports, over a period of time. A positive balance (trade surplus) means that exports exceed imports, a negativeone means the opposite. Positive trade balance illustrates high competitiveness of country's economy. This strengthens investors' interest in the local currency, appreciating its exchange rate.

The figures displayed in the calendar represent the average yield on the Bons du Trésor à taux fixe or BTF auctioned.

French BTF bills have maturities of up to 1 year. Governments issue treasuries to borrow money to cover the gap between the amount they receive in taxes and the amount they spend to refinance existing debt and/or to raise capital.

The yield on the BTF represents the return an investor will receive by holding the treasury for its entire duration. All bidders receive the same rate at the highest accepted bid.

Yield fluctuations should be monitored closely as an indicator of the government debt situation. Investors compare the average rate at auction to the rate at previous auctions of the same security.

The figures displayed in the calendar represent the average yield on the Bons du Trésor à taux fixe or BTF auctioned.

French BTF bills have maturities of up to 1 year. Governments issue treasuries to borrow money to cover the gap between the amount they receive in taxes and the amount they spend to refinance existing debt and/or to raise capital.

The yield on the BTF represents the return an investor will receive by holding the treasury for its entire duration. All bidders receive the same rate at the highest accepted bid.

Yield fluctuations should be monitored closely as an indicator of the government debt situation. Investors compare the average rate at auction to the rate at previous auctions of the same security.

The figures displayed in the calendar represent the average yield on the Bons du Trésor à taux fixe or BTF auctioned.

French BTF bills have maturities of up to 1 year. Governments issue treasuries to borrow money to cover the gap between the amount they receive in taxes and the amount they spend to refinance existing debt and/or to raise capital.

The yield on the BTF represents the return an investor will receive by holding the treasury for its entire duration. All bidders receive the same rate at the highest accepted bid.

Yield fluctuations should be monitored closely as an indicator of the government debt situation. Investors compare the average rate at auction to the rate at previous auctions of the same security.

GDP measures the summary value of goods and services generated in a relevant country or region. A region's gross domestic product, or GDP, is one of the ways for measuring the size of its economy. Expenditure approach - Total expenditures on all finished goods and services produced within the economy. Calculation: GDP using the expenditure approach is derived as the sum of all final expenditures, changes in inventories and exports of goods and services less imports of goods and services. Market influence of GDP: Unexpectedly high quarterly GDP growth is perceived to be potentially inflationary if the economy is close to full capacity; this, in turn, causes bond prices to drop and yields and interest rates to rise. Where the stock market is concerned, higher than expected growth leads to higher profits and that's good for the stock market.

The Dallas Fed conducts the Texas Manufacturing Outlook Survey monthly to obtain a timely assessment of the state factory activity. Firms are asked whether output, employment, orders, prices and other indicators increased, decreased or remained unchanged over the previous month. Survey responses are used to calculate an index for each indicator. Each index is calculated by subtracting the percentage of respondents reporting a decrease from the percentage reporting an increase. When the share of firms reporting an increase exceeds the share of firms reporting a decrease, the index will be greater than zero, suggesting the indicator has increased over the prior month. If the share of firms reporting a decrease exceeds the share reporting an increase, the index will be below zero,suggesting the indicator has decreased over the prior month. An index will be zero when the number of firms reporting an increase is equal to the number of firms reporting a decrease. A higher than expected reading should be taken as positive/bullish for the USD , while a lower than expected reading should be taken as negative/bearish for the USD.

The figures displayed in the calendar represent the rate on the Treasury Bill auctioned.

U.S. Treasury Bills have maturities of a few days to one year. Governments issue treasuries to borrow money to cover the gap between the amount they receive in taxes and the amount they spend to refinance existing debt and/or to raise capital. The rate on a Treasury Bill represents the return an investor will receive by holding the bill for its entire duration. All bidders receive the same rate at the highest accepted bid.

Yield fluctuations should be monitored closely as an indicator of the government debt situation. Investors compare the average rate at auction to the rate at previous auctions of the same security.

The figures displayed in the calendar represent the rate on the Treasury Bill auctioned.

U.S. Treasury Bills have maturities of a few days to one year. Governments issue treasuries to borrow money to cover the gap between the amount they receive in taxes and the amount they spend to refinance existing debt and/or to raise capital. The rate on a Treasury Bill represents the return an investor will receive by holding the bill for its entire duration. All bidders receive the same rate at the highest accepted bid.

Yield fluctuations should be monitored closely as an indicator of the government debt situation. Investors compare the average rate at auction to the rate at previous auctions of the same security.

The figures displayed in the calendar represent the yield on the Treasury Note auctioned.

U.S. Treasury Notes have maturities of two to ten years. Governments issue treasuries to borrow money to cover the gap between the amount they receive in taxes and the amount they spend to refinance existing debt and/or to raise capital. The rate on a Treasury Note represents the return an investor will receive by holding the note for its entire duration. All bidders receive the same rate at the highest accepted bid.

Yield fluctuations should be monitored closely as an indicator of the government debt situation. Investors compare the average rate at auction to the rate at previous auctions of the same security.

The figures displayed in the calendar represent the yield on the Treasury Note auctioned.

U.S. Treasury Notes have maturities of two to ten years. Governments issue treasuries to borrow money to cover the gap between the amount they receive in taxes and the amount they spend to refinance existing debt and/or to raise capital. The rate on a Treasury Note represents the return an investor will receive by holding the note for its entire duration. All bidders receive the same rate at the highest accepted bid.

Yield fluctuations should be monitored closely as an indicator of the government debt situation. Investors compare the average rate at auction to the rate at previous auctions of the same security.

Isabel Schnabel, member of the Executive Board of the European Central Bank, is set to speak. Her speeches often contain indications on the future possible direction of monetary policy.

The British Retail Consortium (BRC) Shop Price Index measures price changes in BRC-member retail outlets in the U.K.

A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.

A statistical measurement and economic indicator of the overall health of the economy as determined by consumer opinion. Consumer sentiment takes into accountan individual's feelings toward his or her own current financial health, the health of the economy in the short term and the prospects for longer term economic growth.

The jobs/applications ratio measures the ratio between job applications and actual jobs. This is an indicator of the health of employment in the economy. A higher than expected number should be taken as positive to the JPY, while a lower than expected number as negative.

The Unemployment Rate measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month. The data tends to have a muted impact relative to employment data from other countries because the Japanese economy is more reliant on the industrial sector than personal spending.

A higher than expected reading should be taken as negative/bearish for the JPY, while a lower than expected reading should be taken as positive/bullish for the JPY.

Bank of Japan Monetary Policy Statement contains the outcome of the BoJ’s decision on asset purchases and commentary about the economic conditions that influenced their decision.

Bank of Japan (BOJ) policy board members come to a consensus on where to set the rate. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation.

A higher than expected rate is positive/bullish for the JPY, while a lower than expected rate is negative/bearish for the JPY.

Bank of Japan Outlook Report provides insight into the BoJ’s view of economic conditions and inflation - key factors which shape the future of monetary policy.

Measures the change in the price of goods and services purchased by consumers, excluding food and energy. The BoJ usually pays more attention to the core inflation data.

Trade balance is the difference between the value of country's exports and imports, over a period of time. A positive balance (trade surplus) means that exports exceed imports, a negative one means the opposite. Positive trade balance illustrates high competitiveness of country's economy. This strengthens investor's interest in the local currency, appreciating its exchange rateA higher than expected reading should be taken as positive/bullish for the SEK , while a lower than expected reading should be taken as negative/bearish for the SEK.

Changes in the volume of the physical output of the nation's factories, minesand utilities are measured by the index of industrial production. The figure is calculated as a weighted aggregate of goods and reported in headlines as a percent change from previous months. It is often adjusted by season or weather conditions and thus volatile. However, it is used as a leading indicator and helps in forecasting GDP changes. Rising industrial production figures signify increasing economic growth and can positively influence the sentiment towards local currency.

Changes in the volume of the physical output of the nation's factories, minesand utilities are measured by the index of industrial production. The figure is calculated as a weighted aggregate of goods and reported in headlines as a percent change from previous months. It is often adjusted by season or weather conditions and thus volatile. However, it is used as a leading indicator and helps in forecasting GDP changes. Rising industrial production figures signify increasing economic growth and can positively influence the sentiment towards local currency.

Retail sales data represents total consumer purchase from retail stores. It provides valuable information about consumer spending which makes up the consumption part of GDP. The most volatile components like autos, gas prices and food prices are often removed from the report to show more underlying demand patterns as changes in sales in these categories are frequently a result of price changes. Rising retail sales indicate stronger economic growth.

Retail sales data represents total consumer purchase from retail stores. It provides valuable information about consumer spending which makes up the consumption part of GDP. The most volatile components like autos, gas prices and food prices are often removed from the report to show more underlying demand patterns as changes in sales in these categories are frequently a result of price changes. Rising retail sales indicate stronger economic growth.

The Bank of Japan (BOJ) press conference looks at the factors that affected the most recent interest rate decision, the overall economic outlook, inflation and offers insights into future monetary policy decisions.

Retail Sales measure the change in the total value of inflation-adjusted sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity.

A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.

The Unemployment Rate measures the percentage of the total work force that is unemployed and actively seeking employment.

A higher than expected reading should be taken as negative/bearish for the EUR, while a lower than expected reading should be taken as positive/bullish for the EUR.

The Leading Indicators Index is a composite index based on 10 economic indicators, that is designed to predict the future direction of the economy. The report tends to have a limited impact because most of the indicators used in the calculation are released previously.

A higher than expected reading should be taken as positive/bullish for the CAD, while a lower than expected reading should be taken as negative/bearish for the CAD.

The Data showes the monthly change in the total turnover of the Italian industry.

The Data showes the monthly change in the total turnover of the Italian industry.

The PMI Report on Manufacturing is a monthly publication, researched and published by Markit. It is based on a survey of business executives in the reporting country's private sector manufacturing companies and is designed to provide the most up-to-date picture of business conditions in the private manufacturing sector.The survey covers industrial sectors based on Standard Industrial Classification (SIC) groups; Chemicals, Electrical, Food/Drink, Mechanical Engineering, Metals, Textiles, Timber/Paper, Transport, Other. Each response received is weighted according to the size of the company to which the questionnaire refers and the contribution to total manufacturing output accounted for by the sub-sector to which that company belongs. This therefore ensures that replies from larger companies have a greater impact on the final index numbers than replies from small companies.

The euro area bank lending survey (BLS) was launched by the Eurosystem in 2003. Its main objective is to enhance the Eurosystem’s knowledge of bank lending conditions in the euro area. It provides information on the lending policies of euro area banks and supplements existing statistics on loans and bank lending rates with information on the supply of and demand for loans to enterprises and households. The BLS provides input to the assessment of monetary and economic developments carried out by the ECB Governing Council in the process of making its monetary policy decisions. The BLS is conducted four times a year and addressed to senior loan officers of a representative sample of euro area banks, comprising around 150 institutions representing all euro area countries, and takes into account the characteristics of the respective national banking structures.

Exports of goods and services consist of transactions in goods and services (sales, barter, gifts or grants) from residents to non-residents. Exports free on board (f.o.b.) and imports cost insurance freight (c.i.f.) are, in general, customs statistics reported under the general trade statistics according to the recommendations of the UN International Trade Statistics.

A higher than expected number should be taken as positive to the HKD, while a lower than expected number as negative.

Exports free on board (f.o.b.) and Imports cost insurance freight (c.i.f.) are, in general, customs statistics reported under the general trade statistics according to the recommendations of the UN International Trade Statistics. For some countries Imports are reported as f.o.b. instead of c.i.f. which is generally accepted. When reporting Imports as f.o.b. you will have the effect of reducing the value of Imports by the amount of the cost of insurance and freight.

A higher than expected number should be taken as positive to the HKD, while a lower than expected number as negative.

The Trade Balance measures the difference in value between imported and exported goods and services over the reported period. A positive number indicates that more goods and services were exported than imported.

A higher than expected reading should be taken as positive/bullish for the HKD, while a lower than expected reading should be taken as negative/bearish for the HKD.

The Producer Price Index (PPI) measures the change in the price of goods sold by manufacturers. It is a leading indicator of consumer price inflation, which accounts for the majority of overall inflation.

A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.

The Producer Price Index (PPI) measures the change in the price of goods sold by manufacturers. It is a leading indicator of consumer price inflation, which accounts for the majority of overall inflation.

A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.

The figures displayed in the calendar represent the average yield on the BOT auctioned.

Italian BOT bills have maturities of one year or less. Governments issue treasuries to borrow money to cover the gap between the amount they receive in taxes and the amount they spend to refinance existing debt and/or to raise capital.

The yield on the BOT represents the return an investor will receive by holding the treasury for its entire duration. All bidders receive the same rate at the highest accepted bid.

Yield fluctuations should be monitored closely as an indicator of the government debt situation. Investors compare the average rate at auction to the rate at previous auctions of the same security.

France Jobseekers Total s.a. is the total number of jobseekers looking for a full-time job and enrolled with the national labour agency at the end of the month.

Industry is a basic category of business activity. Firms in the same industry are on the same side of the market, produce goods which are close substitutes and compete for the same customers. For statistical purposes, industries are categorized following a uniform classification code such as Standard Industrial Classification (SIC). Changes in the volume of the physical output of the nations factories, mines and utilities are meaured by the index of industrial production. The figure is calculated as a weighted aggregate of goods and reported in headlines as a percent change from previous months. It is often adjusted by season or weather conditions and thus volatile. However, it is used as a leading indicator and helps in forecasting GDP changes. Rising industrial production figures signify increasing economic growth and can positively influence the sentiment towards local currency.