06:45 CHF Unemployment Rate

 Forecast: 3.1%    Previous: 3.1%

The Unemployment Rate measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month. A higher than expected reading should be taken as negative/bearish for the CHF, while a lower than expected reading should be taken as positive/bullish for the CHF.

 11:00 EUR German Factory Orders (MoM)

 Forecast: 0.6%    Previous: 1.6%

German Factory Orders measures the change in the total value of new purchase orders placed with manufacturers for both durable and non-durable goods. It is a leading indicator of production. 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.

12:00 BRL Brazilian Industrial Production (YoY)

Forecast: -1.5%    Previous: -1.2%

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 BRL, while a lower than expected reading should be taken as negative/bearish for the BRL.

 13:15 US ADP Nonfarm Employment Change

Forecast: 205K    Previous: 173K

The ADP National Employment Report is a measure of the monthly change in non-farm, private employment, based on the payroll data of approximately 400,000 U.S. business clients. The release, two days ahead of government data, is a good predictor of the government’s non-farm payroll report. The change in this indicator can be very volatile. 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.

 13:30 US Unit Labor Costs (QoQ)

Forecast: 1.2%    Previous: 1.2%

Unit Labor Costs measure the annualized change in the price businesses pay for labor, excluding the farming industry. It is a leading indicator of consumer inflation. 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.

 13:30 CAD Building Permits (MoM)

Forecast: -2.3%    Previous: 10.5%

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.

13:30 US Nonfarm Productivity (QoQ)

Forecast: 0.8%    Previous: 0.7%

Nonfarm Productivity measures the annualized change in labor efficiency when producing goods and services, excluding the farming industry. Productivity and labor-related inflation are directly linked-a drop in a worker’s productivity is equivalent to a rise in their wage. 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.

20:00 NZD RBNZ Monetary Policy Statement

The Reserve Bank of New Zealand’s (RBNZ) quarterly Monetary Policy Statement outlines how the bank will achieve its inflation targets, how it proposes to formulate and implement monetary policy during the next five years and how monetary policy has been implemented since the last statement’s release.

20:00 NZD RBNZ Rate Statement

The Reserve Bank of New Zealand’s rate 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 NZD, while a more hawkish than expected statement could be taken as positive/bullish for the NZD.

20:00 NZD Interest Rate Decision

Forecast: 2.50%    Previous: 2.50%

The Reserve Bank of New Zealand (RBNZ) governor decides where to set the rate after consulting senior bank staff and external advisers. 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 NZD, while a lower than expected rate is negative/bearish for the NZD.

22:00 BRL Interest Rate Decision

Forecast: 10.00%    Previous: 10.50%

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.

23:50 JPY GDP Price Index (YoY)

Forecast: -1.6%    Previous: -1.6%

The Gross Domestic Product (GDP) Price Index measures the change in the price of all goods and services included in GDP. It is the broadest measure of inflation and is the primary indicator the Bank of Japan uses to gauge inflation. 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.

23:50 JPY GDP (QoQ)

Forecast: -0.2%    Previous: -0.6%

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

00:30 AUD Unemployment Rate

Forecast: 5.2%    Previous: 5.1%

The Unemployment Rate measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month.  A higher than expected reading should be taken as negative/bearish for the AUD, while a lower than expected reading should be taken as positive/bullish for the AUD.

00:30 AUD Employment Change

Forecast: 5.0K    Previous: 46.3K

Employment Change measures the change in the number of people employed. Job creation is an important indicator of consumer spending. 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.

01:00 KRW South Korean Interest Rate Decision

Forecast: 3.25%    Previous: 3.25%

The Bank of Korea (BOK) Monetary Policy Committee’s decision on where to set the benchmark 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 KRW, while a lower than expected rate is negative/bearish for the KRW.