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The Trading Week

The Trading Week: June 22 − June 27

Thu, Jun 19 2008, 21:11 GMT
by Ilian Yotov

AllThingsForex

June 20, 2008 (Allthingsforex.com) – In the week ahead, all eyes will be on the Fed’s highly-anticipated meeting and interest rate announcement, but traders will also pay close attention to the U.S. housing, consumer confidence and economic growth data.     

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, June 22 will start the trading session with a notable economic release- the U.K. Rightmove House Price Index of the monthly change in the average asking price of residential properties, at 7:00 pm, ET, followed by the Japanese Business Survey Index of Manufacturing Conditions, at 7:50 pm, ET.

Monday, June 23 will begin with the German Manufacturing and Services PMI- Purchasing Managers' Indexes of the level of activity by purchasing managers in the manufacturing and services sectors, at 3:30 am, ET.

The first spotlight event of the week- the German IFO Institute Business Climate and Expectations Index, an early indicator of current conditions and business expectations in the Euro-zone’s largest economy, will be closely watched at 4:00 am, ET, along with the Euro-zone Manufacturing and Services PMI- Purchasing Managers' Indexes, also at 4:00 am, ET.

There will be no notable economic releases from major industrialized countries for the rest of the day.

Tuesday, June 24 will start with the German Import Price Index of price changes and inflationary trends for imported goods, at 2:00 am, ET, the French Consumer Spending, at 2:45 am, ET, and the Swiss Consumption Indicator of consumer spending, at 4:00 am, ET.

News from the U.K. will deliver the BBA- British Bankers' Association Mortgage Approvals, measuring the number of issued home loans, at 4:30 am, ET.

The U.S. economic releases will begin with the S&P/Case-Shiller National Home Price Index of the monthly change in the average price of single-family homes, at 9:00 am, ET.

More U.S. data will bring a spotlight event- the U.S. Consumer Confidence Index, measuring consumers’ attitudes in regard to economic conditions, at 10:00 am, ET, along with the Richmond Fed Index of manufacturing and economic activity in the Richmond Federal Reserve district, also at 10:00 am, ET.

The day will end with two important economic releases- the Japanese CSPI- Corporate Services Price Index- a measure of the rate of inflation experienced by corporations when purchasing services, at 7:50 pm, ET, as well as the Japanese Trade Balance of the difference in value between imported and exported goods and services, also at 7:50 pm, ET.

Wednesday, June 25 will begin with the German Consumer Confidence Index of the sentiment of consumers regarding current and future economic conditions, at 2:00 am, ET, followed by a leading indicator of the U.K. housing market- the Nationwide House Price Index of the monthly change in the average asking price of residential properties, at 4:30 am, ET, and the U.K. Confederation of British Industry’s Distributive Trades, measuring the reported sales at the nation’s retailers, at 6:00 am, ET.

A sequence of important U.S. economic data will start with the U.S. Durable Goods Orders, placed with domestic manufacturers for immediate and future delivery of factory hard goods, at 8:30 am, ET.

The U.S. releases will continue with a spotlight event- the U.S. New Home Sales, measuring the number of newly constructed homes with a committed sale during the previous month, at 10:00 am, ET, followed by the EIA- Energy Information Administration Weekly Oil Inventories, at 10:30 am, ET.

Later that afternoon, all eyes will be focused on the main spotlight event of the week- the U.S. FOMC- Federal Open Market Committee Interest Rate Decision, scheduled to be announced at 2:15 pm, ET. 

The day will end with the Australian Leading Index of overall economic conditions, at 8:00 pm, ET.

Thursday, June 26 will be the busiest day of the week starting with the first spotlight event for the day- the U.S. GDP- Gross Domestic Product, the main measure of economic activity and growth, at 8:30 am, ET, along with the usual weekly Jobless Claims, at 8:30 am, ET, and the U.S. Corporate Profits, also at 8:30 am, ET.

More U.S. data will deliver one of the main spotlight events of the week- the U.S. Existing Home Sales, a measure of the closed sales of previously constructed homes, condominium and co-ops and used as the main gauge of the condition of the U.S. housing market, scheduled at 10:00 am, ET, followed by the U.S. Help Wanted Index of the strength or weakness in the labor market, at 10:00 am, ET, and the weekly EIA Natural Gas Inventories, at 10:30 am, ET.

Another spotlight event will follow that evening with the release of New Zealand’s GDP- Gross Domestic Product, the main measure of economic activity and growth, at 6:45 pm, ET, along with New Zealand’s Trade Balance of the difference in value between imported and exported goods and services, also at 6:45 pm, ET.

The last spotlight event for the day- the Japanese CPI- Consumer Price Index, the main measure of inflation, will be released along with the Japanese Unemployment Rate and Household Spending, at 7:30 pm, ET, followed by the Japanese Retail Sales, the main measure of consumer spending, at 7:50 pm, ET. 

Friday, June 27 will begin with a spotlight event- the U.K. GDP- Gross Domestic Product, the main measure of economic activity and growth, at 4:30 am, ET, along with the U.K. Current Account of the transfers of imported and exported goods, services, and income flows, also at 4:30 am, ET.

News from the Euro-zone will deliver an important release- the Euro-zone Economic Sentiment, a broad measure of both business and consumer sentiment, at 5:00 am, ET, followed by the Swiss Leading Index of overall economic conditions, at 5:30 am, ET.

A spotlight event from Canada will bring the Canadian IPPI- Industrial Product Price Index and RMPI- Raw Materials Price Index, the main measures of inflation experienced by manufacturers, at 8:30 am, ET.

The U.S. economic data for the day will be consumer-focused, delivering another spotlight event- the U.S. Personal Income and Spending, a measure of the income received and purchases made by consumers, at 8:30 am, ET. This leading indicator inflation gauge is preferred by the Fed because it measures a variable basket of goods and services, as opposed to the CPI-Consumer Price Index, which measures a fixed basket of goods and services. 

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

Published on  Thu, Jun 19 2008, 21:12 GMT

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