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The Trading Week

The Trading Week: Sep. 28 − Oct. 3

Fri, Sep 26 2008, 00:45 GMT
by Ilian Yotov

AllThingsForex

Sep. 26, 2008 (Allthingsforex.com) – The Non-Farm Payrolls and Employment Situation report will take the center stage in the busy week ahead that should provide more clues about the condition of the U.S. economy.

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. 28 will start the trading session with two significant economic releases- New Zealand’s Trade Balance of the difference in value between imported and exported goods and services, at 6:45 pm, ET, and the Japanese Retail Sales, the main gauge of consumer spending, scheduled at 7:50 pm, ET.

Monday, Sep. 29 will begin with the U.K. Mortgage Approvals and Net Lending to Individuals, at 4:30 am, ET, followed by the Euro-zone Economic Sentiment index of business and consumer sentiment, at 5:00 am, ET.

The U.S. economic data will deliver the first spotlight event of the week- 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. 

Later that evening, an important economic release will bring the U.K. Consumer Confidence, a survey of consumers’ financial conditions and attitudes about the economy, at 7:00 pm, ET. 

The day will conclude with a sequence of notable economic reports, starting with the Japanese Unemployment Rate and Household Spending, at 7:30 pm, ET, and the Japanese Industrial Production, at 7:50 pm, ET, followed by the Australian Retail Sales, the main measure of consumer spending, at 9:30 pm, ET.

Tuesday, Sep. 30 will begin with the Japanese Housing Starts, at 1:00 am, ET, followed by the German Retail Sales, the main gauge of consumer spending in the Euro-zone’s largest economy, along with the German Unemployment Change, due at 3:55 am, ET, and the Swiss Consumption Indicator of consumer spending, at 4:00 am, ET.

A spotlight event from the U.K. will deliver 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 goods, services and transfer of payments into and out of the region, also at 4:30 am, ET .

News from the Euro-zone will bring another spotlight event- the Euro-zone Flash HICP- Harmonized Index of Consumer Prices, a preliminary, flash estimate of the European equivalent to the CPI- Consumer Price Index and the main gauge of inflation, at 5:00 am, ET.

Notable economic reports from Canada will follow with the releases of 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, also at 8:30 am, ET.

The U.S. economic data will begin with the U.S. National Home Price Index of changes in home prices in 20 metropolitan areas, at 9:00 am, ET, followed by the National Association of Purchasing Management – Chicago Manufacturing survey and a composite diffusion index of business conditions in the Chicago area, at 9:45 am, ET.

One of the main spotlight events of the week- the U.S. Consumer Confidence, a Conference Board survey of consumer attitudes on present economic conditions and expectations of future conditions, will be released at 10:00 am, ET.

The day will end with the closely watched Japanese Tankan Manufacturing Index based on a survey conducted quarterly by the Bank of Japan considered to be the most complete reading of economic performance in Japan, at 7:50 pm, ET.

Wednesday, Oct. 1 will start with the Euro-zone Manufacturing PMI- Manufacturing Purchasing Manager's Index, measuring the activity level of purchasing managers in the manufacturing sector, at 4:00 am, ET, followed by the U.K. Manufacturing PMI- Manufacturing Purchasing Manager's Index, at 4:30 am, ET, and the Euro-zone Unemployment Rate, at 5:00 am, ET.

The U.S. economic releases will bring a spotlight event- the ADP-Automatic Data Processing Employment Report, a preliminary estimate that could ultimately help to predict the monthly non-farm payrolls, due at 8:15 am, ET.

Another U.S. spotlight event- the ISM- Institute for Supply Management Manufacturing Index, a composite diffusion index of national manufacturing conditions, where readings below 50 percent indicate economic contraction, will be released at 10:00 am, ET. 

More U.S economic data will include the U.S. Construction Spending, at 10:00 am, ET, and the EIA- Energy Information Administration Weekly Oil Inventories, at 10:30 am, ET.

The day will end with the Australian Trade Balance of the difference in value between imported and exported goods and services, also at 9:30 pm, ET.

Thursday, Oct. 2 will begin with the Swiss State Secretariat for Economic Affairs Economic Forecast, at 1:45 am, ET, followed by important housing data from the U.K.- the Nationwide House Price Index, a leading indicator of the U.K. housing market measuring monthly price changes in residential properties, at 2:00 am, ET.

More U.K. data will bring the U.K. Construction PMI- Purchasing Manager's Index, measuring the activity level of purchasing managers in the construction sector, at 4:30 am, ET, followed by the Swiss National Bank’s Monetary Policy Report on current and future monetary policy and economic conditions, at 5:00 am, ET.

The European news will continue with a notable release- the Euro-zone PPI- Producers Price Index, the main measure of inflation experienced by manufacturers and a leading indicator of consumer inflation, at 5:00 am, ET.

One of the main spotlight events of the week- the European Central Bank's Interest Rate Decision will be announced at 7:45 am, ET.

Another important event that morning will be the European Central Bank President Jean-Claude Trichet's speech at 8:30 am, ET at the press conference following the ECB Governing Council's interest rate decision. The language of the statement will be very closely watched for any hints of future changes in the ECB’s monetary policy.

The U.S. economic releases will include the U.S. Weekly Jobless Claims, at 8:30 am, ET, the U.S. Factory Orders placed with domestic manufacturers, at 10:00 am, ET, and the EIA- Energy Information Administration Weekly Natural Gas Inventories, at 10:30 am, ET.

The day will end with an important economic release from “down under”- the Australian Melbourne Institute Inflation Gauge, a leading monthly indicator of the official quarterly released Consumer Price Index, scheduled at 8:30 pm, ET. 

Friday, Oct. 3 will start with the Swiss CPI- Consumer Price Index, the main measure of inflation, at 1:45 am, followed by the Euro-zone Services PMI- Purchasing Managers Index, measuring the activity level of purchasing managers in the services sector, at 4:00 am, ET, and the U.K. Services PMI- Purchasing Managers Index, at 4:30 am, ET.

More European news will deliver a spotlight event- the Euro-zone Retail Sales, the main measure of consumer spending, at 5:00 am, ET.

The U.S. economic data will begin with the main spotlight event of the week- the U.S. Non-Farm Payrolls and Employment Situation Report, one of the most important indicators of economic health, measuring the number of new jobs created, scheduled at 8:30 am, ET, along with the U.S. Unemployment Rate and Average Hourly Earnings, also at 8:30 am, ET.

The busy week will end with another U.S. spotlight event- the ISM- Institute for Supply Management Non-Manufacturing Index, a composite diffusion index of national conditions in industries like agriculture, mining, construction, transportation, communications, wholesale trade and retail trade, where readings below 50 percent indicate economic contraction, scheduled for release at 10:00 am, ET. 

Published on  Fri, Sep 26 2008, 00:45 GMT