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The Trading Week

The Trading Week: May 4 − May 9

Thu, May 1 2008, 20:17 GMT
by Ilian Yotov

AllThingsForex

May 2, 2008 (Allthingsforex.com) – In the week ahead, traders will focus on the U.S. ISM Non-Manufacturing data, as well as on three interest rate announcements from the Reserve Bank of Australia, Bank of England and the European Central Bank.

In preparation for the new trading week, here is a quick look at the most important economic events that every currency trader should pay attention to.

Sunday, May 4 will start the trading session with New Zealand’s Labor Cost Index of inflation in worker’s compensation and wages, at 6:45 pm, ET, followed by the Australian Services PMI- Purchasing Managers Index of the level of activity by purchasing managers in the services sector, at 7:30 pm, ET.

More news from “down under” will bring the first spotlight event of the week- the Australian TD Securities Melbourne Institute Inflation Gauge used a timely indicator of the official quarterly Consumer Price Index, at 8:30 pm, ET.

The day will conclude with the Australian House Price Index of changes in house prices, at 9:30 pm, ET, and New Zealand’s Commodity Price Index of inflation in commodities' prices, at 11:00 pm, ET.

Monday, May 5 will begin with the Euro-zone Investor Confidence in the economy, at 4:30 am, ET.

The U.S. economic data will deliver one of the main spotlight events of the week- the ISM Non-Manufacturing Index of economic conditions in industries like agriculture, mining, construction, transportation, communications, wholesale trade and retail trade, at 10:00 am, ET. If the Institute for Supply Management Index shows a reading below 50, that would indicate economic contraction.

The day will end with the Australian Trade Balance of the difference in value between imported and exported goods and services, at 9:30 pm, ET.

Tuesday, May 6 will start with one of the major spotlight events of the week- the Reserve Bank of Australia's Interest Rate Announcement, at 12:30 am, ET.

Another spotlight event- the Swiss CPI- Consumer Price Index, the main measure of inflation, will be released at 1:45 am, ET, followed by the Euro-zone Services PMI- Purchasing Managers' Index of the level of activity by purchasing managers in the services sector, at 4:00 am, ET, and the U.K. Services PMI- Purchasing Managers' Index, at 4:30 am, ET.

More news from the Euro-zone will deliver a spotlight event- the Euro-zone PPI- Producer Price Index, the main measure of inflation experienced by manufacturers, at 5:00 am, ET.  

There will be no notable U.S. releases for that day, but important data from Canada will bring the Canadian Building Permits, at 8:30 am, ET, and the Canadian Ivey PMI- Purchasing Managers' Index of the level of activity by purchasing managers from all sectors of the economy, at 10:00 am, ET.

The closely watched U.K. Consumer Confidence in economic conditions, at 7:00 pm, ET, will warp up the day.

Wednesday, May 7 will begin with the U.K. Industrial Production, measuring the physical output of the nation's factories, mines and utilities, at 4:30 am, ET.

A spotlight event will hit the newswires with the release of the Euro-zone Retail Sales, the main gauge of consumer spending, at 5:00 am, ET, followed by the U.K. BRC- British Retail Consortium Shop Price Index, measuring the rate of inflation experienced by retailers, at 5:30 am, ET, and the German Factory Orders, at 6:00 am, ET.

The U.S. economic data sequence will begin with a spotlight event- the U.S. Non-farm Productivity and Labor Costs Index, measuring the growth of labor efficiency and the level of inflation in worker’s compensation and wages, at 8:30 am, ET.

The U.S. news will continue with the U.S. Pending Home Sales Index, at 10:00 am, ET, and the EIA- Energy Information Administration Weekly Oil Inventories, at 10:30 am, ET.

The day will conclude with New Zealand’s Unemployment Rate and Employment Change, at 6:45 pm, ET, and the Australian Employment Situation Report, measuring the unemployment rate and the number of paid employees working part and full-time, at 9:30 pm, ET.

Thursday, May 8 will start early with the Swiss Unemployment Rate at 1:45 am, ET, the German Trade Balance, at 2:00 am, ET, and the German Industrial Production, measuring the physical output of the factories, mines and utilities in the Euro-zone’s largest economy, at 6:00 am, ET.

Two of the main spotlight events of the week will follow- Bank of England's Interest Rate Decision at 7:00 am, ET and the European Central Bank's Interest Rate Decision at 7:45 am, ET. No rate changes are expected from both of these central banks.

After the interest rate announcements, the U.S. Weekly Jobless Claims and the Canadian Housing Starts will be released at 8:30 am, ET.

Another important event that morning will be the European Central Bank's President Jean-Claude Trichet speech at 8:30 am, ET at the press conference in Frankfurt following the ECB Governing Council's interest rate decision. The language of the statement will be very closely watched for any hints of future changes in the ECB’s monetary policy.

More U.S. data will bring the U.S. Wholesale Inventories, at 10:00 am, ET, the EIA- Energy Information Administration Weekly Natural Gas Inventories, at 10:30 am, ET, the U.S. Chain Store Sales, at 12:00 pm, ET, and the U.S. Money Supply by degree of liquidity, at 4:30 pm, ET.

The day will end with the Reserve Bank of Australia's Monetary Policy Statement on economic growth, inflation and the future monetary policy, at 9:30 pm, ET.

Friday, May 9 will begin with the Japanese Leading Index of economic conditions, at 1:00 am, ET, and the French Industrial Production of the Euro-zone’s second largest economy, at 2:45 am, ET.

The last spotlight event of the week will come from Canada with the release of the Canadian Employment Report, measuring the unemployment rate and the number of paid employees working part and full-time, at 7:00 am, ET, followed by the Canadian Trade Balance, at 8:30 am, ET.

The U.S. International Trade Balance, a measure of the difference between imports and exports of tangible goods and services, at 8:30 pm, ET, and the U.S. CASH- Consumer Attitudes and Spending by Household Index, a monthly national survey of consumer attitudes on the current and future state of local economies, personal financial situations, savings, and confidence to make large investments, at 9:00 am, ET, will wrap up the trading week.

Published on  Thu, May 1 2008, 20:19 GMT

Archive

• The Trading Week: Oct. 6 - Oct. 10
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• The Trading Week: Sep. 28 - Oct. 3
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• The Trading Week: Sep. 21 - Sep. 26
  Published On Thu, Sep 18 2008, 22:37 GMT
• The Trading Week: Sep. 14 - Sep. 19
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• The Trading Week: Sep. 7 - Sep. 12
  Published On Fri, Sep 5 2008, 01:19 GMT

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