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The Trading Week

The Trading Week: Sep. 21 − Sep. 26

Thu, Sep 18 2008, 22:37 GMT
by Ilian Yotov

AllThingsForex

Sep. 19, 2008 (Allthingsforex.com) – The financial turmoil news, along with the U.S. housing and economic growth data, promise to keep traders occupied in the week ahead.

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, Sep. 21 will start the trading session with a sequence of significant economic releases, beginning with the U.K. Rightmove House Price Index, used as an indicator of price changes and inflation in the housing sector, at 7:00 pm, ET, followed by Japanese All Activity Index of changes in spending for goods and services, at 7:50 pm, ET.

The day will end with Bank of Japan’s Meeting 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.

Monday, Sep. 22 will begin with the first spotlight event of the week- the Canadian 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.

The only other notable economic release for the day will be New Zealand’s Westpac Consumer Confidence survey of consumers’ financial conditions and attitudes about the economy, at 10:00 pm, ET.

Tuesday, Sep. 23 will start with the German and the Euro-zone Manufacturing and Services PMI- Purchasing Manager's Indexes, measuring the level of activity of purchasing managers in the manufacturing and service sectors, scheduled at 3:30 am, ET and 4:00 am, ET. 

The U.K. British Bankers' Association Mortgage Approvals, will be released at 4:30 am, ET, followed by the Euro-zone Industrial New Orders for durable and non-durable goods, at 5:00 am, ET.

News from Canada will bring one of the major spotlight events of the week- the Canadian CPI- Consumer Price Index, the main measure of inflation, at 8:30 am, ET.   

The U.S. economic data will include the U.S. House Price Index of the price changes of homes with mortgages backed by Fannie May and Freddie Mac, at 10:00 am, ET, the U.S. State Street Investor Confidence Index, measuring investors’ confidence by looking at actual levels of risk in investment portfolios, at 10:00 am, ET, and the Richmond Fed Index, measuring the general business conditions of manufacturers in the Richmond Federal Reserve district, also at 10:00 am, ET.

The day will end with the Japanese Manufacturing Index of activity of large manufacturers, at 7:50 pm, ET.

Wednesday, Sep. 24 will begin with a spotlight event- 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, at 4:00 am, ET, along with the Euro-zone Current Account of goods, services and transfer of payments into and out of the region, also at 4:00 am, ET. 

The U.S. economic releases will bring the main spotlight event of the week- the U.S. Existing Home Sales, the main gauge of the condition of the U.S. housing market measuring the number of closed sales of previously constructed homes, condominiums and co-ops, at 10:00 am, ET, followed by the EIA- Energy Information Administration Weekly Oil Inventories, at 10:30 am, ET.

The day will conclude with the Japanese CSPI- Corporate Services Price Index of the rate of inflation for corporations paying for services, at 7:50 pm, ET, the Japanese Trade Balance of the difference between imports and exports, also at 7:50 pm, ET, and the Australian Leading Index of economic activity, at 8:00 pm, ET.

Thursday, Sep. 25 will start with the German Consumer Climate Index of the sentiment of consumers regarding current and future economic conditions, at 2:00 am, ET, followed by the Euro-zone M3 Money Supply, measuring the supply of money held by the public, at 4:00 am, ET.

The U.S economic releases will begin with a spotlight event- the U.S. Durable Goods Orders, placed with domestic manufacturers for immediate and future delivery of factory hard goods, at 8:30 am, ET, along with the usual for every Thursday weekly Jobless Claims, at 8:30 am, ET.

The U.S. data will continue with another 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 weekly EIA- Energy Information Administration Weekly Natural Gas Inventories, at 10:30 am, ET.

The day will end with two spotlight events- New Zealand’s GDP- Gross Domestic Product, the main measure of economic activity and growth, at 6:45 pm, ET, and the Japanese CPI- Consumer Price Index, the main measure of inflation, at 7:30 pm, ET.

Friday, Sep. 26 will begin with the German CPI- Consumer Price Index, the main measure of inflation in the Euro-zone’s largest economy, expected around 2:00 am, ET.

The U.S. economic releases will bring a spotlight event- the U.S. GDP- Gross Domestic Product, the main measure of economic activity and growth in the world’s largest economy, at 8:30 am, ET. 

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

Published on  Thu, Sep 18 2008, 22:38 GMT