01:30 AUD Trade Balance
Forecast: -0.35B Previous: -0.28B
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 AUD, while a lower than expected reading should be taken as negative/bearish for the AUD.
01:30 AUD Retail Sales (MoM)
Forecast: 0.7% Previous: 0.5%
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 AUD, while a lower than expected reading should be taken as negative/bearish for the AUD.
07:15 CHF Retail Sales (YoY)
Forecast: 2.0% Previous: 6.2%
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 CHF, while a lower than expected reading should be taken as negative/bearish for the CHF.
07:30 CHF SVME PMI
Forecast: 47.0 Previous: 48.1
The Schweizerischer Verband für Materialwirtschaft und Einkauf (SVME) Purchasing Manager’s Index (PMI) measures the activity level of purchasing managers in the manufacturing sector. A reading above 50 indicates expansion in the sector; a reading below 50 indicates contraction. Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance. A higher than expected reading should be taken as positive/bullish for the CHF, while a lower than expected reading should be taken as negative/bearish for the CHF.
08:00 EUR Spanish 10-year Obligacion Auction
Forecast: Previous: 6.430%
The figures displayed in the calendar represent the average yield on the Obligaciones del Estado or ODE auctioned. Spanish ODE bonds have maturities of above then five 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 yield on the ODE 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.
11:00 GBP BOE QE Total
Forecast: 375B Previous: 375B
The Bank of England electronically creates new money and uses it to purchase gilts from private investors such as pension funds and insurance companies. A higher than expected reading should be taken as negative/bearish for the GBP , while a lower than expected reading should be taken as positive/bullish for the GBP.
11:00 GBP Interest Rate Decision
Forecast: 0.50% Previous: 0.50%
Bank of England (BOE) monetary policy committee 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 GBP, while a lower than expected rate is negative/bearish for the GBP.
11:45 EUR Interest Rate Decision
Forecast: 0.75% Previous: 0.75%
The six members of the European Central Bank (ECB) Executive Board and the 16 governors of the euro area central banks 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 EUR, while a lower than expected rate is negative/bearish for the EUR.
12:30 EUR ECB Press Conference
The European Central Bank (ECB) press conference is held monthly, about 45 minutes after the Minimum Bid Rate is announced. The conference is approximately an hour long and has two parts. Firstly, a prepared statement is read, then the conference is open to press questions. The press conference examines the factors which affected the ECB’s interest rate decision and deals with the overall economic outlook and inflation. Most importantly, it provides clues regarding future monetary policy. High levels of volatility can frequently be observed during the press conference as press questions lead to unscripted answers.
12:30 USD Initial Jobless Claims
Forecast: 375K Previous: 353K
Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week. 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.
