As an official measure of the Japanese money supply, the Monetary Base will show the immediate impacts of monetary policy actions and can give an indication into the future direction of inflation. Compatible with Forex Tester and MT4. Higher interest rates make holding the Franc more attractive to foreign investors, and this higher level of demand will place upward pressure on the value of the Franc.
What is the Economic Calendar?
The composite index is based on the surveys for sales, new orders, employment, inventories and deliveries, compiled by American International Group. The AIG Performance of Service Index excludes industrial manufacturing sectors that tend to be volatile and seasonal, giving a clean picture of Australia's service sector that accounts for a majority of Aussie GDP. The headline number uses a 50 baseline, where above 50 signifies growth, while a number below 50 shows a contraction in the services sector.
Measures the monthly price change of New Zealand 's seventeen main commodity exports. Given that the exports act as the driving force of New Zealand 's economy, changes in their prices can affect GDP and exchange rates.
An increase in export prices may suggest a strengthening of the Dollar as foreigners pay relatively more for New Zealand 's exports. Conversely, falling export prices may indicate a decline in demand for New Zealand commodities; weakening the exchange rate. The headline value is the percentage change in the index from the previous month.
Because the figure measures price changes in commodity goods, it acts as an early indicator of price changes. As such an early indicator the figure is useful in predicting future price direction. The number of domestic building permits granted for the month.
Strong growth in new approvals and permits indicates a growing housing market. Because real estate generally leads economic developments - housing tends to thrive at the start of booms and wane at the onset of recession - the figure can be used with others to forecast future growth in the economy as a whole. For this reason Business Approvals is one of eight components used to construct the Conference Board Leading Index, a widely used index to forecast Australia 's economic course.
A strong housing market also tends to lead consumer spending. The headline number is the seasonally adjusted percentage change in new building approvals from the previous month. The total value of goods and services sold each month at retail outlets. The report acts as a gauge of consumption and consumer confidence. An increasing number of sales signal consumer confidence and economic growth, which would fuel the Euro-zone economy.
However, higher consumption also leads to inflationary pressures, which results in economic instability. The headline is the monthly percentage change in retail sales. Gauges demand for mortgage application in the US.
Growth in mortgages suggests a healthy housing market. Due to the multiplier effect housing has on the rest of the economy, rising activity suggests increased household income and economic expansion.
Among the various indices measured in the survey, the purchase index and refinancing index most accurately reflect where the housing market is headed. The purchasing index measures the change in existing home sales in all mortgage applications, while the refinance index measures the mortgage refinancing activity in all mortgage applications. Dollar volume of new orders, shipments, unfilled orders and inventories as reported by domestic manufacturers. Factor Orders is not a widely watched economic release.
The Advance Release on Durable Goods Activity reported one week earlier tends grab more market attention, given that durable goods make up more than half of factory orders. Factor Orders does provide a comprehensive look at the manufacturing sector. Specifically, the New Orders figure can act as a gauge of demand across industries while Shipments are indicative of supply. The Unfilled Orders and Inventory figures reconcile the balance between New Orders and Shipments; high Shipments are indicative of an excess of demand relative to supply, high Inventories signal an excess of supply over demand.
Figures are reported in billions of dollars and also in percent change from the previous month. The value of orders placed for relatively long lasting goods. Durable Goods are expected to last more than three years.
Such products often require large investments and usually reflect optimism on the part of the buyer that their expenditure will be worthwhile. Because orders for goods have large sway over the actual production, this figure serves as an excellent forecast of U. Durable Goods are typically sensitive to economic changes. When consumers become skeptical about economic conditions, sales of durable goods are one of the first to be impacted since consumers can delay purchases of durable items, like cars and televisions, only spending money on necessities in times of economic hardship.
Conversely, when consumer confidence is restored, orders for durable goods rebound quickly. The data is highly volatile as well, some volatility is eliminated with the Durable Goods Orders excluding Transportation figure, making it the more closely watched indicator.
The headline figure is expressed as a percentage change from previous months. The Durable Goods Orders figure is also reported excluding transportation expenditures. Orders for items like civilian vehicles or aircrafts are fairly expensive and fluctuate idiosyncratically, distorting the Durable Goods Orders figure.
Such goods are excluded to provide a better measure of durable goods orders. The average amount of pre-tax earnings per regular employee, including overtime pay and bonuses. Though the report does not take into account all sources of household income accumulated wealth and capital gains from financial assets are omitted , Labor Cash Earnings accurately reflects the spending ability of domestic consumers, one of the driving forces behind economic growth.
Because growth in wages fuels higher consumption, rising Labor Cash Earnings generally lead to higher inflation.
Measures the current economic activity based on a composite of indicators that track current business conditions in Japan. The headline number is derived by comparing the number of expanding indicators to the total number of indicators used. Included in the index are; the expansion or contraction of industrial production, capacity utilization, retail and wholesale sales, power consumption, non-scheduled work hours, the job-offer rate and operating profits.
Measures the total change in orders placed at domestic manufacturers. The figure gives a picture of the strength of demand for German industrial products. Factory orders are an early indicator of the overall level of spending in the economy, and spending drives economic growth. Although higher German Factory Orders alone is not a strong enough factor to influence the value of Euro in a significant way, growth in orders can put upward pressure on the Euro if higher orders are due to greater demand aboard.
German Factory Orders is a seasonally adjusted index. The headline figure is expressed as a percentage change in the index. It is the key gauge for inflation in Switzerland. Simply put, inflation reflects a decline in the purchasing power of the Franc, where each Franc buys fewer goods and services.
The CPI calculates the change in the price of a predetermined basket of consumer goods and services. This basket represents the goods and services that an average household will purchase. The figure is compared to those of the previous month as well as the previous year in order to gauge changes to the costs of living on a month to month and year to year basis.
The headline number is the percentage change either from the previous month's value or the previous year's value. As the key indicator of inflation, a rising CPI may prompt the Swiss National Bank to raise interest rates in attempt to manage inflation and slow economic growth.
Higher interest rates make holding the Franc more attractive to foreign investors, and this higher level of demand will place upward pressure on the value of the Franc. The percentage of people in the total - labor force without jobs but willing to work and are actively seeking employment.
Lower unemployment bodes well for the economy, translating into more income-earning workers and greater consumption. While such increased expenditure accelerates economic growth, it can also heighten inflationary pressures. On the other hand, a higher unemployment rate tends to lead to lower consumer spending and a contracting economy. The Unemployment Rate is one of the most watch headline indicators of Canada 's labour market.
The net change in the number of people employed in Canada. Increases in employment are generally accompanied by higher consumption and expenditure levels. At the same time, higher employment, consumption and expenditures may lead to heightened inflationary pressures that encourage central banks to tighten monetary policy.
If the Bank of Canada were to raise interest rates, it would put upward pressure on the Canadian dollar. Because this is the main employment report in Canada it tends to have significant impact on the market. The headline figure is the change in employment in thousands. Need to ask questions to an analyst? Join the Canadian employment change live broadcast.
The difference between imports and exports of goods. Merchandise Trade differentiates itself from Trade Balance because it does not record intangibles like services, only reporting on physical goods. Because exports of tangibles like oil, gold and manufacturing contribute to a large part of Canada 's GDP, trade data can give critical insight into developments in the economy and into foreign exchange rates.
Negative International Merchandise Trade deficit indicates that imports of goods are greater than exports. When exports are greater than imports, Canada experiences a trade surplus. Trade surpluses indicate that funds are coming into Canada in exchange for exported goods.
Because such exported goods are usually purchased with Canadian dollars, trade surpluses usually reflect currency flowing into Canada, such currency inflows may lead to a natural appreciation of a the Canadian dollar, unless countered by similar capital outflows Canadian International Securities Transactions tracks such capital flows.
At a bare minimum, surpluses will buoy the value of the currency. There are a number of factors that work to diminish the market impact of Canadian Merchandise Trade on markets. The report is not very timely, released about three months after the reporting quarter. Developments in many of the components that comprise the figure are also usually well anticipated.
Lastly, since the report reflect data for a specific reporting quarter, any significant changes in the Merchandise Trade should plausibly have been already felt during that quarter and not during the release of data. But because of the overall significance of Trade on Foreign Exchange Rates, the figure has a history of being one of the more important reports out of Canada. The headline figure for trade balance is expressed in millions of Canadian dollars and usually accompanied by a year-on-year percentage change figure.
The trade balance is one of the biggest components of the US's Balance of Payment, which gives valuable insight and heavy pressure on the value of the dollar. A positive Trade Balance surplus indicates that exports are greater than imports. When imports exceed exports, the US experiences a trade deficit. Because foreign goods are usually purchased using foreign currency, trade deficits usually reflect dollars leaking out of the country.
Such currency outflows may lead to a natural depreciation of a dollar, unless countered by comparable capital inflows US Net Foreign Security Purchases, or TICs data reports on such capital flows. At a bare minimum, deficits fundamentally weigh down the value of the currency. There are a number of factors that work to diminish the market impact of US Trade Balance. The report is not very timely, coming some time after the reporting period. Developments in many of the figure's components are also typically well anticipated.
The Real-time Economic Calendar may also be subject to change without any previous notice. Have you seen these interesting charts? We have a dedicated team of economists and journalists who update all the data 24h a day, 5 days a week.
To trade Forex through fundamental analysis, you have to check how economies over the world are doing based on their macroeconomics data such as GDP, employment, consumption data, inflation… , watching closely the countries of the currencies you are trading the most.
All data are displayed in chronological order, divided by day. A light grey horizontal line shows you where we stand at the moment and below that line go all upcoming data. Time left before next release is indicated so you quickly grasp when this is coming.
When a new data is released, the calendar page is automatically refreshed so you do not miss it. If you want, you can enable a sound notification for all releases. A flag icon indicates the country of the data release, and next to it, its currency.
So you can quickly scan and see what currencies might be affected today or in some specific days. Shall a bar be red and long, market observers expect this data to have great probability to move the Forex market. Shall this bar be yellow and short, the probability is viewed as low. For all economic calendar indicators, you will find the Previous number: For most indicators, we add a Consensus number: Better or worse than expected?
If we had a consensus published, it comes either in green it means the data is better than expected or in red worse than expected. You might want to focus on some type of data and ignore the rest: You can type a keyword or select countries, dates range, event categories or volatility degrees.