FX.co ★ Traders economic calendar. International economic events

The Westpac/Melbourne Institute (MI) Leading Index is a composite index based on nine economic indicators, which is designed to predict the direction of the economy.The data is compiled from economic indicators related to consumer confidence, housing, stock market prices, money supply, and interest rate spreads. The report tends to have a muted 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 AUD, while a lower than expected reading should be taken as negative/bearish for the AUD.

Data is an estimate of New Zealand Government securities held on behalf of non-residents. Government bonds include the total of all Government bonds and inflation indexed bonds. Treasury bills include the total of all Treasury bills.The proportion held for non-residents is calculated from the amount of bonds in the market. The bonds in the market do not include bonds held by Reserve Bank of New Zealand or by the Earthquake Commission. The survey seeks to identify the nominal amount of New Zealand Government securities held on behalf of non-residents. Since March 1994 this includes any securities held under repurchase agreement (repos). Repurchase agreements (repos): Arrangements under which one institution sells securities at a specified price to another, together with an agreement that they, or similar securities, will be purchased back at a fixed price on a specified future date. When a New Zealand institution acquires securities through repos, or transactions that replicate repos, they should be reported.

The Core Consumer Price Index (CPI) measures the changes in the price of goods and services, excluding food and energy. The CPI measures price change from the perspective of the consumer. It is a key way to measure changes in purchasing trends.

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.

The Core Consumer Price Index (CPI) is a key measure of the inflation trend in the UK economy, and it's released by the Office for National Statistics. Unlike the standard CPI measure, the Core CPI excludes more volatile items, such as food, energy, alcohol and tobacco, in order to provide a more accurate picture of the underlying inflationary trend. This data is of high importance to market participants, because the CPI and its components influence many areas of economic policy, including interest rate decisions by the Bank of England. If the Core CPI increases at a faster rate than expected, it could signal higher inflationary pressures, potentially leading to policy rate increases and subsequently impacting the value of the pound and UK assets.

The Producer Price Index (PPI) measures average changes in prices received by domestic producers for their output. It is a leading indicator of consumer price inflation, which accounts for the majority of overall inflation. Usually a rise in PPI will lead in a short time to a rise in CPI and therefore to a rising interest rates and rising currency. during recession, the producers are not able to roll over the rising cost of material to the consumer, so a rise in PPI will not be rolled over to the consumer but will lower the profitablility of the producer and will deepen the recession, that will lead to a fall in local currency.

The Producer Price Index (PPI) measures average changes in prices received by domestic producers for their output. It is a leading indicator of consumer price inflation, which accounts for the majority of overall inflation. Usually a rise in PPI will lead in a short time to a rise in CPI and therefore to a rising interest rates and rising currency. during recession, the producers are not able to roll over the rising cost of material to the consumer, so a rise in PPI will not be rolled over to the consumer but will lower the profitablility of the producer and will deepen the recession, that will lead to a fall in local currency.

The Retail Price Index was first calculated for June 1947 and was the principal official measure of inflation in the UK before the start of the CPI figure.The core RPI excludes mortgage payments, therefore its difference from CPI is minor, but exists. The impact on the currency may go both ways, a rise in inflation may lead to a rise in interest rates and a rise in local currency, on the other hand, during recession, a rise in CPI may lead to a deepened recession and therefore a fall in local currency.

The Retail Price Index was first calculated for June 1947 and was the principal official measure of inflation in the UK before the start of the CPI figure.The core RPI excludes mortgage payments, therefore its difference from CPI is minor, but exists. The impact on the currency may go both ways, a rise in inflation may lead to a rise in interest rates and a rise in local currency, on the other hand, during recession, a rise in CPI may lead to a deepened recession and therefore a fall in local currency.

The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends.

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.

The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends.

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.

The Consumer Price Index (CPI, n.s.a) is an essential economic calendar event for the United Kingdom, providing critical information about the country's inflation status. The CPI measures the change in the prices of a specific basket of goods and services purchased by households over a particular time period. This economic indicator is a vital tool for evaluating the cost of living and purchasing power of consumers across the nation.

As a non-seasonally adjusted (n.s.a) figure, the CPI does not account for seasonal fluctuations in prices, such as holiday periods or seasonal changes in product demand. This allows for a more accurate reflection of current price trends, aiding policymakers and investors in making well-informed financial decisions. A higher-than-expected CPI reading may indicate increasing inflation, potentially leading to higher interest rates and a strengthening currency. Conversely, a lower-than-expected reading may point to a weakening currency and lower interest rates, as policymakers address the potential threat of deflation.

Producer Price Index (PPI) Input measures the change in the price of goods and raw materials purchased by manufacturers. The index is a leading indicator of consumer price inflation.

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.

Producer Price Index (PPI) Input measures the change in the price of goods and raw materials purchased by manufacturers. The index is a leading indicator of consumer price inflation.

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.

Producer Price Index (PPI) Output measures the change in the price of goods sold by manufacturers.

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.

Producer Price Index (PPI) Output measures the change in the price of goods sold by manufacturers.

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.

The Retail Price Index (RPI) measures the change in the price of goods and services purchased by consumers for the purpose of consumption. RPI differs from Consumer Price Inflation (CPI) in that it only measures goods and services bought for the purpose of consumption by the vast majority of households and includes housing costs, which are excluded from CPI.

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.

The Retail Price Index was first calculated for June 1947 and was the principal official measure of inflation in the UK before the start of the CPI figure. The main difference is that RPI includes mortgage interest payments as opposed to CPI which doesn't. . The impact on the currency may go both ways, a rise in inflation may lead to a rise in interest rates and a rise in local currency, on the other hand, during recession, a rise in CPI may lead to a deepened recession and therefore a fall in local currency.

The Japanese Household Confidence indicator is a measure of the mood of consumers.

The index is based on data collected from a survey of around 5000 households.

The consumer confidence indicator is closely linked to consumer spending and correlated with personal income, purchasing power, employment and business conditions.

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

The Japanese Household Confidence indicator is a measure of the mood of consumers.

The index is based on data collected from a survey of around 5000 households.

The consumer confidence indicator is closely linked to consumer spending and correlated with personal income, purchasing power, employment and business conditions.

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

The definition for an unemployed person is: Persons (16-65 years) who were available for work (except for temporary illness) but did not work during the survey week, and who made specific efforts to find a job within the previous 4 weeks by going to an employment agency, by applying directly to an employer, by answering a job ad, or being on a union or professional register. The percentage number is calculated unemployed / (employed + unemployed). A higher than expected reading should be taken as negative/bearish for the SEK , while a lower than expected reading should be taken as positive/bullish for the SEK.

Consumer Prices Index, including owner occupiers’ housing costs (CPIH) is a lead inflation index; it is the most comprehensive measure of UK as it includes owner occupiers’ housing costs and Council Tax, which are excluded from the CPI.

Wages and salaries are defined as "the total remuneration, in cash or in kind, payable to all persons counted on the payroll (including homeworkers), in returnfor work done during the accounting period" regardless of whether it is paid on the basis of working time, output or piecework and whether it is paid regularly or not.Y/Y - percentage change over corresponding period of the previous year. Gross monthly average earnings of full-time employees in the national economy.

Producer Price Index (PPI) measures a change in the prices of goods and services, over a span of time, either as they leave their place of production oras they enter the production process. PPI measures a change in the prices received by domestic producers for their outputs or the change in the prices paid by domestic producers for their intermediate inputs. Inflation at this producer level often gets passed through to the Consumer Price Index (CPI). By tracking price pressures in the pipeline, inflationary consequences in coming months can be anticipated. Inflation at this producer level often gets passed through to the Consumer Price Index (CPI). By tracking price pressures in the pipeline, inflationary consequences in coming months can be anticipated.

Producer Price Index (PPI) measures a change in the prices of goods and services, over a span of time, either as they leave their place of production oras they enter the production process. PPI measures a change in the prices received by domestic producers for their outputs or the change in the prices paid by domestic producers for their intermediate inputs. Inflation at this producer level often gets passed through to the Consumer Price Index (CPI). By tracking price pressures in the pipeline, inflationary consequences in coming months can be anticipated. Inflation at this producer level often gets passed through to the Consumer Price Index (CPI). By tracking price pressures in the pipeline, inflationary consequences in coming months can be anticipated.

The Italian Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends.

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 Italian Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends.

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 Italian Consumer Price Index (CPI) Ex Tobacco is a key economic indicator that measures the change in the price of goods and services purchased by households in Italy, excluding tobacco products. The data is released monthly by the Italian National Institute of Statistics (ISTAT) and is used to analyze inflation trends within the country.

As tobacco prices can be influenced by various external factors, excluding them from the CPI provides a clearer picture of the overall inflation rate. The index captures price changes for a diverse range of goods and services, allowing economists and market participants to gauge the purchasing power of the Italian consumers.

A higher than expected reading signals an increase in inflation, which could potentially lead to an increase in interest rates and a strengthening of the Italian currency. Conversely, a lower than expected reading could signal weaker inflation, prompting the possibility of lower interest rates or other easing measures by the central bank to stimulate economic growth.

Harmonised Index of Consumer Prices, is the same as CPI, but with a joint basket of products for all Eurozone member countries. The impact on the currency may go both ways, a rise in CPI may lead to a rise in interest rates and a rise in local currency, on the other hand, during recession, a rise in CPI may lead to a deepened recession and therefore a fall in local currency.

Harmonised Index of Consumer Prices, is the same as CPI, but with a joint basket of products for all Eurozone member countries. The impact on the currency may go both ways, a rise in CPI may lead to a rise in interest rates and a rise in local currency, on the other hand, during recession, a rise in CPI may lead to a deepened recession and therefore a fall in local currency.

The Office for National Statistics House Price Index measures the change in the selling price of homes. This data tends to have a relatively mild impact because there are several earlier indicators related to house prices.

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.

Breakdown of total nominal hourly labour costs, whole economy: wages.% change from previous year, not seasonally adjusted. In addition to employees gross earnings, total labour costs include indirect costs such as employers social contributions and taxes connected to the employment. Gross earnings or wages arethose paid directly and regularly by the employer at the time of each wage payment. They include the value of any social contributions, income taxes, etc. payable by the employee, even if actually withheld by the employer and paid directly to social insurance schemes, tax authorities, etc. on behalf of the employee. Hourly labour cost indices show the short-term development of the total cost for employers of employing the labour force. These indices are calculated by Member States using jointly-agreed definitions. When calculating these indices, all enterprises, whatever their size, and all employees should be taken into account. Labour costs include gross wages and salaries, employers social contributions and taxes net of subsidies connected to employment. Labour costs here do not include costs for occupational training or other costs such as those for canteens or recruitment. Hourly labour costs are obtained by dividing the total of these costs for all employees in a defined country by all hours worked by these employees. Here, instead of hours worked, hours paid/number of employees might have been used as a measure of volume of labour.""

Industrial Production measures the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities.

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.

Industrial production is a measure of output of the industrial sector of the economy. The industrial sector includes manufacturing, mining, and utilities. Although these sectors contribute only a small portion of GDP (Gross Domestic Product), 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 EUR, while a lower than expected number as negative.

The Labor Cost Index measures the change in the price businesses pay for labor, excluding overtime. It is a leading indicator of consumer 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 Interest Rate Decision is a key economic event in Zambia that reflects the Central Bank's stance on monetary policy. This event involves the announcement of changes (if any) to the benchmark interest rate, which is set by the Bank of Zambia (BoZ).

The decision is based on various factors such as inflation, economic growth, political stability, and global economic conditions, among others. The objective is to maintain price stability, support economic growth, and manage foreign exchange reserves to ensure a sustainable balance of payments.

Increases in interest rates usually translate to tighter monetary policy, which could lead to a decrease in spending, lending, and borrowing. Meanwhile, a decrease in interest rates could signify a looser monetary policy, potentially encouraging spending, lending, and borrowing. This event is closely monitored by market participants, as it impacts businesses, consumers, and investors in various ways.

Foreign capital actually utilized refers to the amount which has been actually used according to the agreements and contracts, including cash, materials and invisible capital such as labour service and technology which both parties agree to take as an investment.

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

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

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 30 year Bund 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.

Gross National Product and Gross Domestic Product is the total value of the finished goods and services produced in the economy. It is not a precise measure of national economic well-being but expressed in volume (adjusted for inflation). It is the closest single number we have got to such a measure. It is the sum of final expenditures; Export of goods and services, Imports of goods and services, Private Consumption, Government Consumption, Gross Fixed Capital Formation and Increases/Decreases(-) in stocksA higher than expected reading should be taken as positive/bullish for the ILS, while a lower than expected reading should be taken as negative/bearish for the ILS.

The Residential Property Prices event tracks the changes in the sale prices of residential properties in Ireland. This important economic indicator serves as a gauge for the health and direction of the housing market in the country.

Accurate and up-to-date information on property prices can assist potential homebuyers, sellers, investors, and policymakers in making informed decisions. Factors such as supply and demand, interest rates, and economic conditions can impact property prices. An increase in residential property prices indicates a growing housing market and strong demand, while a decrease may suggest a weakening market with lowered demand.

Keep an eye on Ireland's Residential Property Prices event to better understand the current housing market trends and make well-informed decisions related to property investments and transactions.

The Residential Property Prices event is an important indicator for the real estate sector in Ireland. It provides insight into the selling prices of residential properties, including new and used homes, apartments, and townhouses. This event is closely monitored by economists, investors, and policymakers as it affects both the housing market and the overall economy.

Higher residential property prices may indicate a growing economy with increased demand for housing, while lower prices may signify a slowdown or recession. The data is also helpful for first-time homebuyers, property investors, and real estate professionals in making informed decisions.

It's worth mentioning that this event is subject to fluctuations based on factors such as supply and demand, interest rates, and government policies. Thus, it's crucial to analyze the data in context with other economic indicators for a comprehensive understanding of the Irish economy.

The Bundesbank Monthly Report handles economic issues, including in particular monetary policy, and financial and economic policy issues.

Producer Price Inflation (PPI) is a significant economic event for Ghana that measures the average changes in prices received by domestic producers for their output on the wholesale level. It serves as a key indicator of inflationary trends in the manufacturing sector, influencing monetary policy decisions.

The Ghana Statistical Service releases the index monthly, tracking the changes in PPI among three main industry groups: mining and quarrying, manufacturing, and utilities. An increase in PPI often signifies inflationary pressures, which could lead to increased costs for consumers, while a decrease may indicate deflation and declining economic activity. Thus, this data is keenly observed by market analysts, investors, and policymakers.

The IGP-10 Inflation Rate measures the change in the price of goods and services from last month's 11th day to the current month's 10th. A higher than expected reading should be taken as negative/bearish for the BRL, while a lower than expected reading should be taken as positive/bullish for the BRL.

Retail trade refers to establishments that retail merchandise goods without processing to consumers for personal or domestic use. Statistics South Africa conducts a monthly survey of the retail trade industry, covering retail enterprises. This survey is based on a sample drawn from the 2004 Business Sample Frame (BSF) that contains businesses registered for value-added tax (VAT) and income tax. Retail trade sales include value added tax (VAT). A higher than expected reading should be taken as positive/bullish for the ZAR , while a lower than expected reading should be taken as negative/bearish for the ZAR.

Fixed 30-year mortgage lending rates for 80% loan-to-value mortgage (source by MBA).

Mortgage Bankers Association (MBA) Mortgage Applications measures the change in the number of new applications for mortgages backed by the MBA during the reported week.

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.

MBA - Mortgage Bankers Association of America. The Purchase Index includes all mortgages applications for the purchase of a single-family home. It covers the entire market, both conventional and government loans, and all products. The Purchase Index has proven to be a reliable indicator of impending home sales.

MBA - Mortgage Bankers Association of America. The Market Index covers all mortgage applications during the week. This includes all conventional and government applications, all fixed-rate mortgages (FRMs), all adjustable-rate mortgages (ARMs), whether for a purchase or to refinance.

MBA - Mortgage Bankers Association of America. The Refinance Index covers all mortgage applications to refinance an existing mortgage. It is the best overall gauge of mortgage refinancing activity. The Refinance Index includes conventional and government refinances, regardless of product (FRM or ARM) or coupon rate refinanced into or out of. Seasonal factors are less significant in refinances than in home sales, however holiday effects are considerable.

Monetary aggregates, known also as "money supply", is the quantity of currency available within the economy to purchase goods and services. M3 is a broad monetary aggregate that includes all physical currency circulating in the economy (banknotes and coins), operational deposits in central bank, money in current accounts, saving accounts, money market deposits, certificates of deposit, all other deposits and repurchase agreements. A higher than expected reading should be taken as positive/bullish for the INR , while a lower than expected reading should be taken as negative/bearish for the INR.

The IBC-Br is widely considered to reflect gross domestic product data. It is the Index of Economic Activity of the Central Bank in BrazilA 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 consumer price index (CPI) is a measure of change in the general level of prices of goods and services bought by households over a specified period of time. It compares a household's cost for a specific basket of finished goods and services with the cost of the same basket during an earlier benchmark period. The consumer price index is used as a measurement of and is a key economic figure. Likely impact: 1) Interest Rates: Larger-than-expected quarterly increase in price inflation or increasing trend is considered inflationary; this will cause bond prices to drop and yields and interest rates to rise. 2) Stock Prices: Higher than expected price inflation is bearish on the stock market as higher inflation will lead to higher interest rates. 3) Exchange Rates: High inflation has an uncertain effect. It would lead to depreciation as higher prices mean lower competitiveness. Conversely, higher inflation causes higher interest rates and a tighter monetary policy that leads to an appreciation.

Monetary policy refers to the actions undertaken by a country's monetary authority, central bank or government to achieve certain national economic goals. It is based on the relationship between interest rates at which money can be borrowed and total supply of money. Policy rates are the most important rates within a country's monetary policy. These can be: deposit rates, lombard rates, rediscount rates, reference rates etc. Changing them influences economic growth, inflation, exchange rates and unemployment.

Housing starts measures the change in the annualized number of new residential buildings that began construction during the reported month. It is a leading indicator of strength in the housing sector.

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.

Core Retail Sales measures the change in the total value of sales at the retail level in the U.S., excluding automobiles. It is an important indicator of consumer spending and is also considered as a pace indicator for the U.S. economy.

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.

Export price tracks price changes of U.S. export goods. The figure is used to determine whether a change in the headline Export figure is representative of an increase of goods sold to foreign nations or just an increase in the price of export goods. United States exports account for approximately a tenth of the nation’s GDP. The headline figure is the percentage change in the index from either the previous month or year. A higher than expected number should be taken as positive to the USD, while a lower than expected number as negative.

The Import Price Index measures the change in the price of imported goods and services purchased domestically.

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.

Retail Control is an important economic calendar event for the United States that measures the overall health of the retail sector. The data for this event is generally released on a monthly basis and provides insights into consumer spending behavior, as well as retail sales trends.

This event highlights the total value of sales at the retail level, excluding sales from automobiles and fuel stations. By monitoring the activity of the retail sector, analysts and investors can gauge the strength of consumer spending, which is a critical component of the economy.

Strong retail control figures indicate robust consumer spending and a growing economy, while weaker retail control results suggest that consumers may be cutting back on spending, which could signal a slowdown in economic growth. As a result, the Retail Control event is keenly watched by market participants to assess the potential impact on financial markets and the overall economy.

Retail Sales measure the change in the total value of 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 USD, while a lower than expected reading should be taken as negative/bearish for the USD.

Retail Sales measure the change in the total value of 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 USD, while a lower than expected reading should be taken as negative/bearish for the USD.

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 andfood 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. It is not adjusted for inflation. Spending on services is not included. Rising retail sales indicate stronger economic growth. However, if theincrease is larger than forecast, it may be inflationary.

Building Permits measures the change in the number of new building permits issued by the government. Building permits are a key indicator of demand in the housing market.

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.

Export price tracks price changes of U.S. export goods. The figure is used to determine whether a change in the headline Export figure is representative of an increase of goods sold to foreign nations or just an increase in the price of export goods. United States exports account for approximately a tenth of the nation’s GDP. The headline figure is the percentage change in the index from either the previous month or year. A higher than expected number should be taken as positive to the USD, while a lower than expected number as negative.

The Import Price Index measures the change in the price of imported goods and services purchased domestically. 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 FX reserve is an extremely pivotal indicator of Angola's economic stability. The Foreign Exchange Reserves are assets, commonly in a foreign currency, retained by Angola's central bank (the National Bank of Angola). They come from balance of payments surpluses, official aid, and borrowings on foreign markets.

The reserves are used to back liabilities and influence monetary policy. They include foreign banknotes, deposits, bonds, treasury bills, and other foreign government securities. Establishing whether these reserves are increasing or decreasing can be a valuable measurement of economic health, assisting in assessing the nation's ability to manage economic downturns.

Frank Elderson, member of the Executive Board and Vice-Chair of the Supervisory Board of the European Central Bank, is set to speak. His speeches often contain indications related to the future possible direction of monetary policy.

Business Inventories measures the change in the worth of unsold goods held by manufacturers, wholesalers, and retailers. A high reading can indicate a lack of consumer demand.

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

The National Association of Home Builders (NAHB) Housing Market Index (HMI) rates the relative level of current and future single-family home sales. The data is compiled from a survey of around 900 home builders. A reading above 50 indicates a favorable outlook on home sales; below indicates a negative outlook.

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.

Retail Inventories Ex Auto is an economic indicator that measures the changes in the value of retail inventories. This metric provides insight into the health of the retail sector by analyzing the value of unsold goods held by retailers, excluding automobile and auto parts dealers. A growing inventory can signal that consumer demand is weak, leading retailers to hold onto a surplus of products. On the other hand, a decline in retail inventories can indicate increased consumer spending, stronger business confidence, and positive economic growth.

Investors, market participants, and policymakers pay close attention to this data, as it serves as a valuable tool for gauging the overall health of the retail sales industry and the broader economy. Additionally, changes in retail inventories can also have a direct impact on GDP calculations, making it a significant factor in assessing economic growth. Monitoring the Retail Inventories Ex Auto can help market participants make informed decisions about potential shifts in consumer behavior and the economic landscape.

The Energy Information Administration's (EIA) Crude Oil Inventories measures the weekly change in the number of barrels of commercial crude oil held by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation.

If the increase in crude inventories is more than expected, it implies weaker demand and is bearish for crude prices. The same can be said if a decline in inventories is less than expected.

If the increase in crude is less than expected, it implies greater demand and is bullish for crude prices. The same can be said if a decline in inventories is more than expected.

The EIA Refinery Crude Runs is an economic calendar event that focuses on the weekly report provided by the United States Energy Information Administration (EIA). This report features data on the total volume of crude oil processed within American refineries, also known as crude runs.

An increase in refinery crude runs could indicate higher demand for crude oil, which in turn corresponds to strong economic growth. On the other hand, a decrease in refinery crude runs may signal a possible decline in demand for crude oil or refining capacity, reflecting weakening economic activity. As a result, industry participants and market analysts pay close attention to this data, as it can significantly impact the crude oil market and provide insights into the overall health of the US economy.

Crude Oil Imports is an economic calendar event that highlights the change in the volume of imported crude oil into the United States. This information provides valuable insights into the overall health of the US energy sector and the nation's reliance on foreign oil supplies.

A positive change in the volume of crude oil imports indicates an increasing demand for oil, which could be driven by factors such as economic growth and rising industrial activity. Conversely, a decrease in crude oil imports may suggest a decline in demand or an increase in domestic oil production. This data can have a significant impact on the oil market and the value of the US dollar, as well as influencing the decisions of policymakers and investors.

Crude Oil Imports is typically monitored by energy market participants, economists, and policymakers, as it can provide useful insights into the dynamics of the energy market and potential shifts in global market trends. The data is released by the US Energy Information Administration (EIA) on a weekly basis, and it is widely regarded as a key indicator of the US energy market's performance.

Change in the number of barrels of crude oil held in storage at the Cushing, Oklahoma during the past week. Storage levels at Cushing are important because it serves as the delivery point for the U.S. crude oil benchmark, West Texas Intermediate.

Distillate Fuel Production is an important economic indicator that provides insight into the overall energy production and demand in the United States. Distillate fuels, such as diesel and heating oil, are commonly used for a variety of purposes, including transportation, heating, and industrial processes. This data is closely monitored by both investors and policymakers as a measure of the health of the energy sector and the overall economy.

Increased distillate fuel production can result from rising demand due to economic growth, seasonal factors, or changes in energy policies. Conversely, decreased production can reflect weakening demand or supply disruptions. This indicator's fluctuations may impact the prices of distillate fuels, which in turn can affect consumer spending, inflation, and trade balances.

Distillate Fuel Production figures are typically released on a weekly basis by the U.S. Energy Information Administration (EIA), providing updated and relevant data for traders, investors, and businesses alike. Understanding the trends and patterns in this data can help inform decision-making processes and investment strategies.

The Energy Information Administration reports inventory levels of US crude oil, gasoline and distillates stocks. The figure shows how much oil and product is available in storage. The indicator gives an overview of US petroleum demand.

Gasoline Production is a significant economic calendar event that pertains to the United States. It indicates the volume of gasoline manufactured domestically on a weekly basis. The data is collected and published by the Energy Information Administration (EIA).

As gasoline is a key component in fueling the transportation sector, its production levels have a notable impact on energy prices, supply chains, and consequently, the overall economy. When gasoline production increases, it reflects positively on the industrial sector's performance and serves as an indicator of economic growth.

However, high gasoline production levels may also lead to an oversupply in the market, causing prices to drop. Investors and analysts track the Gasoline Production report to make informed decisions regarding the energy and transportation sectors' performance and predict the potential implications on the general economy.

Heating Oil Stockpiles is an economic calendar event that provides insights into the United States' current inventory levels of distillate fuel oil, which is primarily used for home heating purposes. These stockpiles are essentially reserves of heating oil that are stored, produced, and supplied to meet the country's demand during cold months and fluctuating market conditions.

Tracking heating oil stockpile trends can help investors gauge the overall health of the energy market and anticipate potential price fluctuations in heating oil. Significant changes in the stockpile levels may indicate disparities between supply and demand for the commodity, thus affecting its market price. These data can also provide valuable information about the performance and stability of refining companies, distributors, and other businesses within the oil and gas industry.

This economic calendar event is typically released by the United States Energy Information Administration (EIA) on a weekly basis. Investors, traders, and analysts closely monitor these data to formulate strategies and make informed decisions in the energy markets.

The EIA Weekly Refinery Utilization Rates is an important economic calendar event that provides valuable insights into the weekly performance of refineries in the United States. The Energy Information Administration (EIA) releases this report to measure the percentage of available refining capacity that is being utilized by refineries during the specified period.

These utilization rates are critical for market participants, policymakers, and analysts as they offer a clear picture of the state of the refinery sector. Changes in refinery utilization rates may indicate shifts in the overall energy market, including the demand and supply dynamics for crude oil, gasoline, and other petroleum products. Should the rates rise, it may signal increasing demand for fuel or strong economic activity, while declining rates can be a sign of weakening demand or economic slowdown.

Investors, traders and businesses typically use this information to help them make decisions and predictions about the energy market, oil prices, and the overall performance of the economy. Hence, the EIA Weekly Refinery Utilization Rates constitutes a highly significant economic calendar event for the United States.

Gasoline Inventories measures the change in the number of barrels of commercial gasoline held in inventory by commercial firms during the reported week. The data influences the price of gasoline products which affects inflation.

The data has no consistent effect, there are both inflationary and growth implications.

Industrial Production measures the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities.

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

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 andfood 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. It is not adjusted for inflation. Spending on services is not included. Rising retail sales indicate stronger economic growth. However, if theincrease is larger than forecast, it may be inflationary.

The Atlanta Fed GDPNow is an economic event that provides a real-time estimate of the United States' gross domestic product (GDP) growth for the current quarter. It serves as a valuable indicator for analysts, policymakers, and economists looking to gauge the health of the American economy.

Created and maintained by the Federal Reserve Bank of Atlanta, the GDPNow model utilizes a sophisticated algorithm that processes incoming data from official government sources. These sources include reports on manufacturing, trade, retail sales, housing, and other sectors, which allows the Atlanta Fed to update their GDP growth projections on a frequent basis.

As an essential benchmark for economic performance, the GDPNow forecast can significantly impact financial markets and influence investment decisions. Market participants often use the GDPNow forecast to adjust their expectations regarding monetary policies and various economic outcomes.

The Producer Price Index (PPI) measures average changes in prices received by domestic producers for their output. It is a leading indicator of consumer price inflation, which accounts for the majority of overall inflation. Usually a rise in PPI will lead in a short time to a rise in CPI and therefore to a rising interest rates and rising currency. during recession, the producers are not able to roll over the rising cost of material to the consumer, so a rise in PPI will not be rolled over to the consumer but will lower the profitablility of the producer and will deepen the recession, that will lead to a fall in local currency.

The Producer Price Index (PPI) measures average changes in prices received by domestic producers for their output. It is a leading indicator of consumer price inflation, which accounts for the majority of overall inflation. Usually a rise in PPI will lead in a short time to a rise in CPI and therefore to a rising interest rates and rising currency. during recession, the producers are not able to roll over the rising cost of material to the consumer, so a rise in PPI will not be rolled over to the consumer but will lower the profitablility of the producer and will deepen the recession, that will lead to a fall in local currency.

Deutsche Bundesbank President and voting member of the ECB Governing Council from Jan 2022. He's believed to be one of the most influential members of the council. ECB Governing Council members vote on where to set the Eurozone's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy.

European Central Bank (ECB) President Christine Lagarde (November 2019 - October 2027) is to speak. As head of the ECB, which sets short term interest rates, she has a major influence over the value of the euro. Traders watch her speeches closely as they are often used to drop subtle hints regarding future monetary policy and interest rate shifts. Her comments may determine a short-term positive or negative trend.

The BOC Summary of Deliberations is a document released by the Bank of Canada (BoC) after each monetary policy meeting. It provides investors and analysts with an overview of the key points discussed during the meeting and the reasons behind the central bank's decisions.

The report is important for market participants as it offers valuable insights into the BoC's views on economic conditions, inflation, and other factors that may affect future monetary policy decisions. By analyzing these details, investors can better understand the likely direction of interest rate changes and the overall outlook for the Canadian economy.

It is worth noting that the BOC Summary of Deliberations is not a verbatim transcript of the meeting. Instead, it highlights the main points of discussion and may not cover all the topics that were addressed during the session. This makes the report a useful tool for gaining a general understanding of the central bank's thinking, but it should be used alongside other sources of information for a more comprehensive view of the Canadian economy and monetary policy.

The indicator shows the amount of capital flows that is directed to the country by foreign investors. Capital flows are essential for developing and emerging markets. They contribute to enhancing investments and financing current account deficits. 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.

Interest Rate Projection for the 1st year is an economic calendar event in the United States that forecasts the interest rates for the upcoming year. It provides valuable insights into the future trends of the interest rates, which can impact various aspects of the economy, such as borrowing costs, investment decisions, and currency valuations.

This projection is closely monitored by investors, businesses, and policymakers to make well-informed financial decisions and assess the overall health of the economy. By considering various factors like inflation, economic growth, unemployment rates, and other economic indicators, the projection sets expectations for future interest rates and helps in anticipating how the Federal Reserve might adjust its monetary policy in response to these factors.

The Interest Rate Projection - 2nd Yr event is an economic indicator that provides insights into the expected direction of interest rates within the United States for the second year. This projection is a valuable tool for investors, businesses, and policymakers to make informed decisions based on the anticipated movement of interest rates.

The Federal Reserve plays a crucial role in determining the interest rates and managing monetary policy. Interest Rate Projections are essential for assessing the overall health of the economy, inflation, and unemployment rates. These projections aid decision-makers in planning their investments and strategies according to future economic conditions. A higher interest rate typically signals a stronger economy, while a lower rate may indicate economic weakness or uncertainty.

The Interest Rate Projection for the 3rd year is a forward-looking economic indicator that provides an estimate of where interest rates could be in three years. It is a critical tool for central banks, economists, and financial market participants to gauge the future trajectory of monetary policy and the overall economic outlook in the United States.

This economic calendar event is based on various factors, such as inflation expectations, global economic developments, and the current stance of monetary policy. By analyzing these factors, the interest rate projection aims to provide a valuable insight into the anticipated interest rate environment, which can influence investment decisions, borrowing costs, and financial market stability.

It is essential to note that these projections are subject to revision, as economic conditions change and new information becomes available. As such, market participants closely monitor the release of these forecasts to assess the potential impact on interest rates, currency valuation, and other financial instruments.

The Interest Rate Projection - Current is an economic calendar event for the United States that reflects the market's expectations for future central bank interest rate decisions. Economists, analysts, and market participants use these projections to assess the likely short-term direction of interest rates, which can impact borrowing costs, investment decisions, and financial market activity.

These projections are based on various factors, such as economic growth, inflation, and employment data, as well as global economic developments and geopolitical risks. The Interest Rate Projection - Current is an essential tool for understanding the potential monetary policy direction and its implications for businesses, investors, and consumers.

The Interest Rate Projection - Longer is an economic calendar event for the United States that represents the long-term forecasts for interest rates. This projection, made by central banking authorities like the Federal Reserve, helps market participants and analysts better anticipate future economic developments and monetary policy decisions. The longer-term interest rate forecasts typically cover a period of several years.

These projections can have significant implications for the economy, as interest rates impact borrowing costs, investment decisions, and the value of assets. For instance, higher long-term interest rates can result in increased costs for borrowers, while lower rates can stimulate economic growth through more accessible credit. As such, the Interest Rate Projection - Longer is an essential event to keep an eye on in order to understand both the overall economic outlook and the potential implications for various sectors and financial instruments.

Federal Open Market Committee (FOMC) members vote 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 USD, while a lower than expected rate is negative/bearish for the USD.

This report includes the Federal Open Market Committee's (FOMC) projection for inflation and economic growth over the next 2 years. An important part of the report is the breakdown of individual FOMC members' interest rate forecasts.

The U.S. Federal Reserve's Federal Open Market Committee (FOMC) statement is the primary tool the panel uses to communicate with investors about monetary policy. It contains the outcome of the vote on interest rates, discusses the economic outlook and offers clues on the outcome of future votes.

A more dovish than expected statement could be taken as negative/bearish for the USD, while a more hawkish than expected statement could be taken as positive/bullish for the USD.

The FOMC Press Conference is a crucial event on the economic calendar for the United States. It is held by the Federal Open Market Committee (FOMC) and serves as a platform for the Chairman of the Federal Reserve to communicate their views on the current state of the economy, monetary policy, interest rates, and future expectations.

Different subjects discussed during the conference range from inflation, growth outlook, labor market conditions to global economic developments. These insights are vital for financial market participants, as they offer valuable information from the central bank, which in turn influences investment decisions and market reactions.

Analyzing the FOMC Press Conference is essential for traders and investors alike, as the information revealed during the conference can cause significant market movements and create opportunities for profit or potential risk. Keeping a close eye on the conference can provide valuable insights into the direction of monetary policy and its subsequent effects on the economy and financial markets.

Net purchases of U.S treasury bonds & notes by major foreign sector. (Negative figures indicate net sales by foreigners to U.S residents or a net outflow of capital from the United States.) 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.

This indicator shows the Sum of [(U.S. securities + Foreign stocks and bonds (Negative figures indicate net sales by foreigners to U.S residents or a net outflow of capital from the United States.) Minus estimated unrecorded principal repayments to foreigners on domestic corporate and agency asset-backed securities + estimated foreign acquisitions of U.S. equities through stock swaps - estimated U.S. acquisitions of foreign equities through stock swaps + increase in nonmarketable Treasury Bonds and Notes Issued to Official Institutions and Other Residents of Foreign Countries)+(monthly changes in banks' and broker/dealers' custody liabilities.)+(TIC, Change in Banks' Own Net Dollar- Denominated Liabilities)] TIC data cover most components of international financial flows, but do not include data on direct investment flows, which are collected and published by the Department of Commerce's Bureau of Economic Analysis. 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.

Treasury International Capital (TIC) Net Long-Term Transactions measures the difference in value between foreign long-term securities purchased by U.S. citizens and U.S. long-term securities purchased by foreign investors. Demand for domestic securities and currency demand are directly linked because foreigners must buy the domestic currency to purchase the nation's securities.

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.

TIC Net Long-Term Transactions number is the sum of gross purchases by foreigners from US residents minus gross sales by foreigners to US residents. The components used to calculate long term flows are US Treasury bonds and notes, US government agency bonds, US corporate bonds, US corporate stocks, foreign bonds and foreign stocks. (TIC signifies: Treasury International Capital Flows). A higher than expected number should be taken as positive to the USD, while a lower than expected number as negative.

The Central Bank of Brazil's (BCB) Monetary Policy Committee votes on where to set the overnight interest 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 BRL, while a lower than expected rate is negative/bearish for the BRL.

Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy's health.

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

Total business activity comprises primary industries + goods producing industries + service industries. Includes unallocated taxes on production and imports, bank service charge and balancing items. Conceptually, both the production and expenditure-based GDP series are the same. However, as each series uses independent data and estimation techniques, some differences between the alternative measures arise. The expenditure-based series has historically shown more quarterly volatility and is more likely to be subject to timing and valuation problems. For these reasons, the production-based measure is the preferred measure for quarter-on-quarter and annual changes.

GDP measures 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. Production approach - The sum of the value added created through the production of goods and services within the economy. Calculation: GDP using the production approach is derived as the sum of gross value added for each industry plus taxes less subsidies on products.

GDP measures 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.

Foreign Bonds Buying number measures the flow from the public sector excluding Bank of Japan. The Net data shows the difference of capital inflow and outflow. A positive difference indicates net sales of foreign securities by residents (capital inflow), and a negative difference indicates net purchases of foreign securities by residents (capital outflow). A higher than expected number should be taken as positive to the JPY, while a lower than expected number as negative.

Balance of payments is a set of accounts recording all economic transactions between the residents of the country and the rest of the world in a given period of time, usually one year. Payments into the country are called credits, payments out of the country are called debits. There are three main components of a balance of payments: - current account - capital account - financial account Either a surplus or a deficit can be shown in any of these components. Balance of payments shows strenghts and weaknesses in a country's economy and therefore helps to achieve balanced economic growth. The release of a balance of payments can have a significant effect on the exchange rate of a national currency against other currencies. It is also important to investors of domestic companies that depend on exports. Securities investment, contract basis. Securities investment refers to flows from the public sector excluding Bank of Japan. Bonds include beneficiary certificates but exclude all bills. The Net data shows the difference of capital inflow and outflow.