• Home ::
• Fundamental ::
• Market View ::
• The Trading Week

• Send
• Print
• Add To
• Rss

The Trading Week

The Trading Week: Aug. 24 − Aug. 29

Fri, Aug 22 2008, 00:58 GMT
by Ilian Yotov

AllThingsForex

Aug. 22, 2008 (Allthingsforex.com) – In the week ahead, traders will 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, Aug. 24 will start the trading session with New Zealand’s Food Price Index of inflation in food prices and services, at 6:45 pm, ET. 

Monday, Aug. 25 will begin with the German Import Price Index of price changes and inflationary trends for imported goods, at 2:00 am, ET.

The only U.S. economic data for the day will deliver the first spotlight event of the week- the U.S. Existing Home Sales, measuring the number of closed sales of previously constructed homes, condominium and co-ops, and the main gauge of the condition of the U.S. housing market, at 10:00 am, ET.

The day will conclude with several notable economic releases, beginning with New Zealand’s Trade Balance of the difference in value between imported and exported goods and services, at 6:45 pm, ET, 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, and the Reserve Bank of New Zealand’s Inflation Expectations survey of business managers, at 11:00 pm, ET.

Tuesday, Aug. 26 will start with a strong sequence of important economic data from the Euro-zone’s largest economy with the releases of the German Consumer Confidence Index of the sentiment of consumers regarding current and future economic conditions, 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, followed by the Swiss Consumption Indicator of consumer spending, at 4:00 am, ET.

More European releases will deliver a spotlight event- the German IFO Institute Business Climate and Expectations Index, an early indicator of current conditions and business expectations, at 4:00 am, ET, followed by the U.K. BBA- British Bankers' Association Mortgage Approvals, measuring the number of issued home loans, at 4:30 am, ET.

The U.S. economic data 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.

Two U.S. spotlight events will follow- the U.S. Consumer Confidence Index, measuring consumers’ attitudes in regard to economic conditions, at 10:00 am, ET, along with the U.S. New Home Sales, measuring the number of newly constructed homes with a committed sale during the previous month, also at 10:00 am, ET.

The U.S. data sequence will continue with the Richmond Fed Index of manufacturing and economic activity in the Richmond Federal Reserve district, at 10:00 am, ET, and the FOMC- Federal Open Market Committee Minutes from the most recent FOMC meeting which may reveal more details on the future of the Fed’s monetary policy, scheduled at 2:00 pm, ET. 

The busy day will end with the Australian Completed Construction Projects, at 9:30 pm, ET, and New Zealand’s Business Confidence, a measure of the sentiment of businesses regarding current and future economic conditions, at 11:00 pm, ET.

Wednesday, Aug. 27 will begin with the German preliminary estimate of the CPI- Consumer Price Index, the main measure of inflation in the Euro-zone’s largest economy, at 2:00 am, ET, and 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.

The U.S economic releases 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, followed by the EIA- Energy Information Administration Weekly Oil Inventories, at 10:30 am, ET.

The day will end with the Australian Leading Index of overall economic conditions, at 8:00 pm, ET, and the Australian Capital Expenditures by private businesses, at 9:30 pm, ET.

Thursday, Aug. 28 will start with the Swiss Employment Level at 3:15 am, ET, the German Unemployment Rate, at 3:55 am, ET, and the Euro-zone Money Supply, at 4:00 am, ET.

More European news will bring a spotlight event- the Euro-zone Consumer Confidence, a measure of consumers’ attitudes in regard to economic conditions, at 5:00 am, ET, followed by the U.K. Confederation of British Industry’s Distributive Trades, measuring the reported sales at the nation’s retailers, at 6:00 am, ET.

The U.S. economic releases will begin with a spotlight event- 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.

The U.S. data will continue with the U.S. Corporate Profits, at 8:30 am, ET, and the weekly EIA Natural Gas Inventories, at 10:30 am, ET.

A spotlight event will come later that evening with the release of the U.K. Consumer Confidence, a measure of consumers’ attitudes in regard to economic conditions, at 7:00 pm, ET. 

The day will end with two spotlight events- the Japanese CPI- Consumer Price Index, the main measure of inflation, 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, Aug. 29 will begin with the Japanese Housing Starts, measuring construction of new residential properties, at 1:00 am, ET. 

News from the Euro-zone will deliver a spotlight event- the Euro-zone Flash HICP- Harmonized Index of Consumer Prices, a preliminary flash estimate of 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 Unemployment Rate, also at 5:00 am, ET, followed by the Swiss Leading Index of overall economic conditions, at 5:30 am, ET.

Two spotlight events from Canada will bring the Canadian GDP- Gross Domestic Product, the main measure of economic activity and growth, at 8:30 am, ET, and 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, starting with a 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 of inflation 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 another 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  Fri, Aug 22 2008, 00:59 GMT