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

• Send
• Print
• Add To
• Rss

The Trading Week

The Trading Week: Nov. 30 − Dec. 5

Fri, Nov 28 2008, 20:43 GMT
by Ilian Yotov

AllThingsForex

Nov. 28, 2008 (Allthingsforex.com) – The U.S. Non-Farm Payrolls and four interest rate announcements from the Reserve Bank of Australia, Reserve Bank of New Zealand, Bank of England, and the European Central Bank promise to deliver an interesting beginning of the last trading month of the year. 

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, Nov. 30 will start the trading session with a sequence of significant economic releases from “down under”, beginning with the Australian Manufacturing PMI- Purchasing Managers Index of the level of activity of purchasing managers in the manufacturing sector, at 5:30 pm, ET.

The first spotlight event of the week- the Australian TD Securities Melbourne Institute Inflation Gauge, a measure of consumer inflation used as a leading monthly indicator of the main gauge of inflation, the quarterly released Consumer Price Index, will come at 6:30 pm, ET, followed by the Japanese Average Cash Earnings, measuring the monthly change in the wages paid to jobholders, at 8:30 pm, ET.  

Monday, Dec. 1 will begin early with the Australian Commodity Prices Index of changes in commodities’ prices, at 12:30 am, ET.

The European economic releases will start with the German Retail Sales, the main measure of consumer spending in the Euro-zone’s largest economy, at 2:00 am, ET, and the Swiss PMI-Purchasing Managers' Index, measuring the activity level of purchasing managers in the manufacturing and service sectors, at 3:30 am, ET. 

The Euro-zone Manufacturing PMI-Purchasing Managers' Index, measuring the activity level of purchasing managers in the manufacturing sector, will be released at 4:00 am, ET, followed by the U.K. Manufacturing PMI- Purchasing Managers' Index, at 4:30 am, ET.

More U.K. news will continue with the BBA- British Bankers' Association Mortgage Approvals, measuring the number of issued home loans, at 4:30 am, ET, the U.K. Credit Lending, at 4:30 am, ET, and the Halifax House Price Index of changes in home prices, also at 4:30 am, ET. 

An important economic report will come from Canada with the release of the Canadian GDP- Gross Domestic Product, the main measure of economic activity and growth, at 8:30 am, ET.

The U.S. economic data will bring a spotlight event- the ISM Manufacturing Index, a composite diffusion index of national conditions in the manufacturing sector, at 10:00 am, ET, along with the U.S. Construction Spending, also at 10:00 am, ET. A reading above or below 50 will be the dividing line between economic expansion and contraction.

The day will conclude with significant economic reports from “down under”, beginning with the Australian Retail Sales, the main gauge of consumer spending, at 7:30 pm, ET, along with the Australian Current Account of goods, services and transfer of payments into and out of the country, also at 7:30 pm, ET.

The day will end with one of the main spotlight events of the week- the Reserve Bank of Australia Interest Rate Announcement, scheduled at 10:30 pm, ET.

Tuesday, Dec. 2 will start with a notable economic release- the Swiss CPI- Consumer Price Index, the main measure of inflation, at 1:45 am, ET, followed by the U.K. Construction PMI- Purchasing Managers' Index, at 4:30 am, ET.

News from the Euro-zone will bring another important economic report- the Euro-zone PPI- Producer Price Index, the main measure of inflation experienced by manufacturers, due at 5:00 am, ET.  

There will be no significant U.S. economic data that morning and the day will conclude with the U.K. Consumer Confidence Index, a survey of consumers’ financial conditions and attitudes about the economy, at 7:00 pm, ET.

The day will end with a spotlight event- the Australian GDP- Gross Domestic Product, the main measure of economic activity and growth, at 7:30 pm, ET, followed by New Zealand’s Commodity Prices Index of changes in commodities’ prices, at 9:00 pm, ET.

Wednesday, Dec. 3 will begin with 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 bring a spotlight event- the Euro-zone Retail Sales, the main measure of consumer spending, at 5:00 am, ET, followed by the U.K. BRC- British Retail Consortium Shop Price Index, measuring the rate of inflation experienced by retailers, at 5:30 am, ET.

The U.S. economic data will begin with the ADP-Automatic Data Processing Employment Report, a preliminary estimate that could help to predict the outcome of monthly non-farm payrolls, at 8:15 am, ET, and the U.S. Non-farm Productivity and Labor Costs Index, measuring the growth of labor efficiency in producing the economy's goods and services, at 8:30 am, ET.

A spotlight event will come with the release of the ISM Non-Manufacturing Index of economic conditions in industries like agriculture, mining, construction, transportation, communications, wholesale trade and retail trade, at 10:00 am, ET, followed by the EIA- Energy Information Administration Weekly Oil Inventories, at 10:30 am, ET.

Another one of the main spotlight events of the week will bring the Reserve Bank of New Zealand’s Interest Rate Announcement, at 3:00 pm, ET. 

The day will end with the Australian Building Approvals and the Australian Trade Balance of the difference between imports and exports, both scheduled at 7:30 pm, ET.

Thursday, Dec. 4 will start with two important economic releases- the Swiss GDP- Gross Domestic Product, the main measure of economic activity and growth in Switzerland, at 1:45 am, ET, and the Euro-zone GDP- Gross Domestic Product, the main measure of economic activity and growth in the Euro-zone, at 5:00 am, ET.

Two of the main spotlight events of the week will follow with Bank of England's Interest Rate Decision at 7:00 am, ET, and the European Central Bank's Interest Rate Decision at 7:45 am, ET. Both of these central banks are expected to reduce interest rates. 

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.

After the interest rate announcements, the U.S. Weekly Jobless Claims will be released at 8:30 am, ET, along with the Canadian Building Permits, also at 8:30 am, ET.

More news from Canada will deliver the Canadian PMI-Purchasing Managers' Index, measuring the activity level of purchasing managers in all sectors of the economy, at 10:00 am, ET. 

The U.S. data will continue with the U.S. Factory Orders for durable and nondurable goods placed with 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 the Australian Construction PMI-Purchasing Managers' Index, measuring the activity level of purchasing managers in the construction sector, at 5:30 pm, ET.

Friday, Dec. 5 will start with the German Factory Orders placed for manufactured goods, at 5:00 am, ET, followed by the Canadian Unemployment Rate and Employment Change, at 7:00 am, ET.

The trading week will conclude with its main spotlight economic event- 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 due at 8:30 am, ET. 

Published on  Fri, Nov 28 2008, 20:44 GMT