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The Trading Week

The Trading Week: Oct. 6 − Oct. 10

Fri, Oct 3 2008, 00:01 GMT
by Ilian Yotov

AllThingsForex

Oct. 3, 2008 (Allthingsforex.com) – In the week ahead, traders will focus on three interest rate announcements from the Reserve Bank of Australia, Bank of Japan, and Bank of England, as well as on the upcoming G-7 finance ministers and central bank governors meeting, scheduled to begin on Friday, October 10.

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.

Monday, Oct. 6 will start with important housing data from the U.K.- the Halifax House Price Index, a leading indicator of the U.K. housing market measuring monthly price changes in residential properties, at 4:30 am, ET, along with the Euro-zone Investor Confidence Index, also at 4:30 am, ET.

News from Canada will bring the Canadian Building Permits, at 8:30 am, ET, followed by the Canadian Ivey PMI- Purchasing Managers Index, measuring the activity level of purchasing managers in all sectors of the economy, at 10:00 am, ET.

The only U.S. economic release for the day will be the U.S. Treasury STRIPS, a report on the amount of stripping and reconstitution of Treasury notes and bonds by individual issue, at 3:00 pm, ET.

That evening, New Zealand’s Business Confidence of big and small companies, will be released at 5:00 pm, ET, followed by the Australian Industry Group Construction Index, at 6:30 pm, ET.

A notable economic report will come from the U.K. with the preliminary estimate of the GDP- Gross Domestic Product, the main measure of economic activity and growth, at 7:00 pm, ET.

The day will end with the first spotlight event of the week- the Reserve Bank of Australia Interest Rate Announcement, scheduled at 11:30 pm, ET.

Tuesday, Oct. 7 will begin early with a spotlight event- Bank of Japan’s Interest Rate Announcement, expected around 12:00 am, ET, followed by the Japanese Leading Index of economic conditions, at 1:00 am, ET.

Another spotlight event- the U.K. Industrial Production and Manufacturing Output, a measure of the physical output of the nation's factories, mines and utilities, will hit the newswires at 4:30 am, ET, followed by the German Factory Orders, at 6:00 am, ET.

The only notable U.S. economic data for the day will be the release of the FOMC- Federal Open Market Committee Minutes from the previous meeting that may provide clues about any future changes in the Fed’s monetary policy, scheduled at 2:00 pm, ET. 

The day will conclude with two spotlight events- the U.K. Consumer Confidence Index, a survey of consumers’ financial conditions and confidence in the economy, at 7:00 pm, ET, and the Australian Westpac Melbourne Institute Consumer Sentiment, a measure of consumers’ attitudes about the economy, at 7:30 pm, ET, followed by the Australian Home Loans, measuring the total number of issued home loans, at 8:30 pm, ET.

Wednesday, Oct. 8 will start with the Japanese Eco Watchers Survey of the sentiment of businesses in the services industry, at 1:00 am, ET, along with Bank of Japan’s Monthly Report on current economic conditions, also at 1:00 am, ET.

News from the U.K. will bring the British Retail Consortium Shop Price Index of price changes in the retail sector, at 5:30 am, ET, followed by the German Industrial Production, at 6:00 am, ET, and the Canadian Housing Starts, a measure of new residential construction, at 8:30 am, ET.

The U.S. releases will bring a spotlight event- the U.S. Pending Home Sales Index, a leading indicator of existing home sales, at 10:00 am, ET, followed by the EIA- Energy Information Administration Weekly Oil Inventories, at 10:30 am, ET.

The day will end with a spotlight event from “down under”- the Australian Employment Situation Report and Unemployment Rate, at 8:30 pm, ET.

Thursday, Oct. 9 will begin with the German Trade Balance, at 2:00 am, ET, and the European Central Bank’s Bulletin of statistical data on inflation, economic activity and growth, at 4:00 am, ET. 
 
News from the U.K. will deliver the U.K. Trade Balance of the difference between imports and exports of tangible goods and services, at 4:30 am, ET.

One of the main spotlight events of the week will follow with Bank of England's Interest Rate Announcement, scheduled at 7:00 am, ET.

The U.S. economic data will include the U.S. Weekly Jobless Claims, at 8:30 am, ET, the U.S. Wholesale Trade, measuring the dollar value of sales made and inventories held by merchant wholesalers, 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 Bank of Japan’s Meeting Minutes from the previous monetary policy meeting that may provide clues about any future changes in the bank’s monetary policy, scheduled at 7:50 pm, ET.

Friday, Oct. 10 will start with the Swiss Unemployment Rate, at 1:45 am, ET, and the French Industrial Production of the Euro-zone’s second-largest economy, at 2:45 am, ET.

A spotlight event will come from Canada with the release of the Canadian Employment Situation Report, measuring the unemployment rate and the number of paid employees working part and full-time, at 7:00 am, ET, followed by the Canadian Trade Balance, at 8:30 am, ET.

The U.S. economic data will bring another spotlight event- the U.S. International Trade Balance, a measure of the difference between imports and exports of tangible goods and services, at 8:30 am, ET, along with the U.S. Import and Export Prices, indicating inflationary trends in internationally traded products, also at 8:30 am, ET.

The trading week will end with the U.S. Treasury Budget, a monthly account of the surplus or deficit of the federal government, at 2:00 pm, ET.

Another important event for currency traders will be next weekend’s G-7 finance ministers and central bank governors meeting, scheduled to begin on Friday, October 10, 2008. 

Published on  Fri, Oct 3 2008, 00:02 GMT