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The Trading Week

The Trading Week: May 11 − May 16

Fri, May 9 2008, 01:39 GMT
by Ilian Yotov

AllThingsForex

May 9, 2008 (Allthingsforex.com) – Inflation and consumer spending will be the main themes of the week ahead, during which the markets will focus on the U.S. Retail Sales and on a sequence of Consumer Price Indexes scheduled for release from several major industrialized nations. 

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 11 will begin the trading session with the Japanese Money Supply, a measure of the value of all currency and liquid cash assets held by the public, at 7:50 pm, ET, and the Australian Home Loans, measuring the borrowings of housing market consumers, at 9:30 pm, ET.

Monday, May 12 will have an early start with Japan’s Eco Watchers Survey, indicating the mood of businesses that directly service consumers, at 1:00 am, ET, and the Japanese Machine Tool Orders, at 2:00 am, ET.

The first spotlight event of the week- the U.K. Input and Output PPI- Producers Price Index, the main measure of the level of inflation experienced by manufacturers, will hit the newswires at 4:30 am, ET, along with the U.K. Trade Balance, also at 4:30 am, ET.

News from Canada will bring the Canadian New Housing Price Index, measuring the changes in prices of new residential construction, at 8:30 am, ET.

The day will conclude with New Zealand’s Food Price Index, a measure of the level of inflation in food prices, at 6:45 pm, ET, the U.K. BRC- British Retail Consortium Retail Sales Monitor, at 7:00 pm, ET, and the Australian Business Confidence of small and large companies in the economy, at 9:30 pm, ET.

Tuesday, May 13 will begin with a spotlight event- the U.K. CPI- Consumer Price Index, the main measure of inflation, at 4:30 am, ET, along with the U.K. RPI- Retail Price Index of the rate of inflation experienced by consumers when purchasing goods and services, at 4:30 am, ET, and the U.K. House Price Index, a measure of the U.K. housing market’s inflation, also at 4:30 am, ET.

One of the main spotlight events of the week- the U.S. Retail Sales, an important gauge of consumer spending, measuring the total receipts at stores that sell durable and nondurable goods, will be released at 8:30 am, ET.

More U.S. economic data will include the U.S. Import and Export Price Index of the prices of goods that are bought in the United States but produced abroad and the prices of goods sold abroad but produced domestically, at 8:30 am, ET, and the U.S. Business Inventories, at 10:00 am, ET.

Important data from Japan will bring the Japanese CGPI- Corporate Goods Price Index, an equivalent to a PPI- Producers Price Index as a measure of inflation experienced by manufacturers, along with the Japanese Current Account, both due at 7:50 pm, ET.

The day will end with a spotlight event from Australia- the Westpac Melbourne Institute’s Consumer Sentiment, a survey of consumers’ financial conditions and attitudes about the economy, at 8:30 pm, ET, followed by the Australian Wage Price Index of inflation in workers’ compensation and wages, at 9:30 pm, ET.

Wednesday, May 14 will start with the French CPI- Consumer Price Index, the main measure of inflation in the Euro-zone’s second-largest economy, at 2:45 am, ET, and the U.K. Unemployment Rate, Average Earnings, and Claimant Count Change, at 4:30 am, ET.

More European news will bring two releases that will be watched closely- the Euro-zone Industrial Production of the area’s factories, mines, and utilities, at 5:00 am, ET, and the Bank of England’s Inflation Report, containing detailed analysis and future estimates for inflation in the U.K., at 5:30 am, ET.

One of the main spotlight events of the week- the U.S. CPI- Consumer Price Index, the main measure of inflation in the world’s largest economy, will be released at 8:30 am, ET, followed by the U.S. EIA- Energy Information Administration Weekly Oil Inventories, at 10:30 am, ET.

Later that afternoon, an important release from “down under” will deliver New Zealand’s Retail Sales, the main measure of consumer spending, at 6:45 pm, ET, along with New Zealand’s Manufacturing Index of performance in the manufacturing sector, at 8:00 pm, ET.

The day will end with a notable Australian release- the Reserve Bank of Australia’s Meeting Minutes from the last monetary policy meeting that may provide some clues about the bank’s future monetary policies, scheduled at 9:30 pm, ET.

Thursday, May 15 will be the busiest trading day of the week, beginning with the Swiss Consumer Sentiment, a survey of consumers’ financial conditions and attitudes about the economy, at 1:45 am, ET.

Important economic releases from Germany will follow with the German CPI- Consumer Price Index, the main measure of inflation in the Euro-zone’s largest economy, at 2:00 am, ET, and the German GDP- Gross Domestic Product, the main measure of economic activity and growth, also at 2:00 am, ET.

A strong sequence of spotlight events will bring the Euro-zone HICP- Harmonized Index of Consumer Prices, the main measure of inflation in the Euro-zone and the European equivalent to the CPI- Consumer Price Index, at 5:00 am, ET, along with the Euro-zone GDP- Gross Domestic Product, the main measure of economic activity and growth, also at 5:00 am, ET.
 
The U.S. releases will start with a spotlight event- the U.S. Empire State Manufacturing Survey of manufacturing conditions in the state of New York, at 8:30 am, ET, along with the U.S. Weekly Jobless Claims, also at 8:30 am, ET.

More U.S. data will bring two important releases- the U.S. TIC- Treasury International Capital, tracking the flows of financial instruments into and out of the United States, at 9:00 am, ET, and the U.S. Industrial Production and Capacity Utilization of the nation’s factories, mines, and utilities, at 9:15 am, ET.

The U.S. releases will continue with another spotlight event- the Philadelphia Fed Survey of manufacturing conditions within the Philadelphia Federal Reserve district, at 10:00 pm, ET, followed by the NAHB- National Association of Home Builders’ Housing Market Index of present sales of new homes, sales of new homes expected in the next six months, and traffic of prospective buyers in new homes, due at 1:00 pm, ET.

The busy day will conclude with the closely watched release of New Zealand’s PPI- Producers Price Index, the main measure of inflation experienced by manufacturers, at 6:45 pm, ET, and a spotlight event from Japan- the Japanese GDP- Gross Domestic Product, the main measure of economic activity and growth, at 7:50 pm, ET.

Friday, May 16 will start with the Japanese Industrial Production, at 12:30 am, ET, and the Japanese Household Confidence, a survey of the economic sentiment of households, at 1:00 am, ET.

News from Europe will bring the Swiss Retail Sales, the main measure of consumer spending, at 3:15 am, ET, and the Euro-zone Trade Balance of the difference between imported and exported goods and services, at 5:00 am, ET.

The U.S economic releases will begin with the U.S. Housing Starts and Building Permits, measuring initial construction of residential units, at 8:30 am, ET.

The busy and exciting trading week will end with a spotlight event- the U.S. Consumer Sentiment, the University of Michigan's monthly survey of 500 households on financial conditions and attitudes about the economy, scheduled at 10:00 am, ET.

Published on  Fri, May 9 2008, 01:40 GMT

Archive

• The Trading Week: Jul. 27 - Aug. 1
  Published On Thu, Jul 24 2008, 20:34 GMT
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• The Trading Week: July 13 - July 18
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• The Trading Week: July 6 - July 11
  Published On Thu, Jul 3 2008, 15:17 GMT
• The Trading Week: June 29 - July 4
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