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The Trading Week

The Trading Week: July 13 − July 18

Thu, Jul 10 2008, 22:31 GMT
by Ilian Yotov

AllThingsForex

July 11, 2008 (Allthingsforex.com) – Inflation and consumer spending will be the main themes of the week ahead, during which traders will focus on the U.S. Retail Sales and a number of Consumer and Producer 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, July 13 will start the trading session with a significant economic release- New Zealand’s Retail Sales, the main gauge of consumer spending, measuring the total receipts at stores that sell durable and nondurable goods, at 6:45 pm, ET.

Monday, July 14 will begin with the first spotlight event of the week- the U.K. PPI-Producers Input and Output Price Indexes, the main measure of the level of inflation experienced by manufacturers, at 4:30 am, ET, followed by the Euro-zone Industrial Production, at 5:00 am, ET.

Later that evening, another spotlight event will bring New Zealand’s CPI- Consumer Price Index, the main measure of inflation, at 6:45 pm, ET.

The day will end with the U.K. Retail Sales Monitor, at 7:00 pm, ET, followed by a spotlight event- Reserve Bank of Australia’s Minutes from the last monetary policy meeting that may provide some clues about the bank’s future monetary policy, scheduled at 9:30 pm, ET.

Tuesday, July 15 will have an early start with a spotlight event- Bank of Japan’s Interest Rate Decision, expected to be announced around 12:00 am, ET.

One of the main spotlight events of the week- the U.K. CPI- Consumer Price Index, the main gauge of inflation, will be released 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, also at 4:30 am, ET.

The Euro-zone news will deliver the closely watched German and Euro-zone ZEW Institute Economic Sentiment of institutional investors, both due at 5:00 am, ET.

The U.S. releases will bring two spotlight events- the U.S. Retail Sales, the main gauge of consumer spending, measuring the total receipts at stores that sell durable and nondurable goods, at 8:30 am, ET, along with the U.S. PPI- Producers Price Index, measuring the level of inflation experienced by manufacturers, also at 8:30 am, ET.

Another spotlight even will follow with the release of Bank of Canada’s Interest Rate Decision, announced at 9:00 am, ET.

More U.S. data that morning will include the Empire State Manufacturing Survey of manufacturers in New York State, at 8:30 am, ET, and the U.S. Business Inventories, measuring the dollar amount of inventories held by manufacturers, wholesalers, and retailers, at 10:00 am, ET.

The day will end with important housing data from the U.K.- the RICS- Royal Institution of Chartered Surveyors House Price Balance, a monthly measure of the changes in house prices, at 7:00 pm, ET, followed by the Japanese Tertiary Industry Index of activity in the services sector of the economy, at 7:50 pm, ET, and the Australian Leading Index of economic conditions, at 8:30 pm, ET.

Wednesday, July 16 will be the busiest trading day of the week, beginning with the German CPI- Consumer Price Index, the main measure of inflation in the Euro-zone’s largest economy, at 2:00 am, ET, followed by the U.K. Unemployment Rate, Average Earnings, and Claimant Count Change, at 4:30 am, ET.

One of the main spotlight events of the week will come from Europe with the release of the Euro-zone HICP- Harmonized Index of Consumer Prices, the main gauge of inflation and the European equivalent to a Consumer Price Index, scheduled at 5:00 am, ET.

Another major spotlight event 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. TIC- Treasury International Capital, tracking the flows of financial instruments into and out of the United States, at 9:00 am, ET.

The U.S. data will continue with the U.S. Industrial Production and Capacity Utilization of the nation’s factories, mines, and utilities, at 9:15 am, ET, and the EIA- Energy Information Administration's Weekly Oil Inventories, at 10:30 am, ET, and the NAHB- National Association of Home Builders’ Housing Market Index, at 1:00 pm, ET.

Later that afternoon, another spotlight event will come from the U.S. with the release of the FOMC- Federal Open Market Committee Meeting Minutes, scheduled at 2:00 pm, ET. The FOMC minutes should generate a lot of attention in the financial markets because the minutes reveal more details on the discussion at the most recent FOMC meeting and on the Fed’s position on interest rates.

The busy day will end with Reserve Bank of Australia’s Monthly Bulletin of statistics and publications on economic conditions, at 9:30 pm, ET.

Thursday, July 17 will start with the Swiss ZEW Institute Economic Expectations Index, at 5:00 am, ET, followed by the Canadian Foreign Securities Purchases, a measure of the attractiveness of the Canadian Dollar for foreign investors, at 8:30 am, ET.

The U.S. releases will bring a notable event- the U.S. Housing Starts and Building Permits, providing an outlook for the construction industry and the state of the housing market, at 8:30 am, ET, along with the U.S. Weekly Jobless Claims, also at 8:30 am, ET.

More U.S. data will deliver another important economic release- the Philadelphia Fed Survey of manufacturing conditions within the Philadelphia Federal Reserve district, at 10:00 am, ET, followed by Bank of Canada’s Monetary Policy Report on interest rates, inflation, and economic conditions, due at 10:30 am, ET.

The day will end with two significant economic releases- Bank of Japan’s Minutes from the last monetary policy meeting that may provide some clues about the bank’s future policies, at 7:50 pm, ET, and the Australian Import Price Index, measuring price changes and inflation of imported goods, at 9:30 pm, ET.

Friday, July 18 will begin with the German PPI- Producers Price Index, a measure of the level of inflation experienced by manufacturers, at 2:00 am, ET, followed by the U.K. Public Sector Borrowing and Money Supply, at 4:30 am, ET.

More European news will bring the Euro-zone Trade Balance of the difference between imports and exports of tangible goods and services, at 5:00 am, ET.

The Canadian Wholesale Sales and Leading Indicators of economic activity, scheduled at 8:30 am, ET, will be the last two releases of the busy week filled with plenty of crucial economic data and market-moving opportunities. 

Published on  Thu, Jul 10 2008, 22:33 GMT

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