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The Trading Week

The Trading Week: Top 10 Spotlight Economic Events

Wed, Jan 7 2009, 06:49 GMT
by Ilian Yotov

AllThingsForex

Jan. 5, 2009 (Allthingsforex.com) – The U.S. Non-Farm Payrolls and Bank of England’s interest rate announcement will take the center stage in the first full trading week of 2009.

Here is a list of the Top 10 spotlight economic events that every currency trader should pay attention to in the week ahead.

1.    EUR- Euro-zone Flash HICP- Harmonized Index of Consumer Prices, Tues., Jan. 6, 5:00 am, ET

The HICP- Harmonized Index of Consumer Prices is the main measure of inflation in the Euro-zone and the European equivalent to the CPI- Consumer Price Index.

2.    USD- U.S. ISM Non-Manufacturing Index, Tues., Jan. 6, 10:00 am, ET

The ISM- Institute for Supply Management Non-Manufacturing Index measures economic activity and conditions in the U.S. service industries like agriculture, mining, construction, transportation, communications, wholesale trade and retail trade.

3.    EUR- Euro-zone PPI- Producer Price Index, Wed., Jan. 7, 5:00 am, ET

The PPI-Producers Price Index is the main measure of inflation experienced by manufacturers and is used as a leading indicator of the HICP- Harmonized Index of Consumer Prices- the official measure of inflation in the Euro-zone. 

4.    USD- U.S. ADP- Automatic Data Processing Employment Report, Wed., Jan. 7, 8:15 am, ET

The ADP-Automatic Data Processing Employment Report covers jobs and payrolls in the private sector of the U.S. economy and is used as a leading indicator of the outcome of the monthly Non-Farm Payrolls.

5.    EUR- Euro-zone GDP- Gross Domestic Product, Thurs., Jan. 8, 5:00 am, ET

The Euro-zone GDP- Gross Domestic Product is the main measure of economic activity and growth in the 15 member countries of the European Monetary Union.
 
6.    GBP- Bank of England Interest Rate Announcement, Thurs., Jan. 8, 7:00 am, ET

The Bank of England announces its decision on interest rates. The consensus forecast is for 50 basis points interest rate cut.

7.    GBP- U.K. PPI- Producer Price Index and Manufacturing Output, Fri., Jan. 9, 4:30 am, ET

The PPI-Producers Price Index is the main measure of inflation experienced by manufacturers and is used as a leading indicator of the CPI- Consumer Price Index. The Industrial Production and Manufacturing Output are important indicators of manufacturing activity and growth of the U.K. economy.

8.    EUR- Euro-zone Retail Sales, Fri., Jan. 9, 5:00 am, ET

The Euro-zone Retail Sales are an important measure of consumer spending. As opposed to the U.S. and Canadian retail sales reports, auto sales are not included in the retail sales data from the Euro-zone.

9.    CAD- Canada Employment Report and Unemployment Rate, Fri., Jan. 9, 7:00 am, ET

The Canadian Employment Report is an indicator of economic conditions, jobs creation and employment trends.

10.    USD- U.S. Non-Farm Payrolls and Employment Situation, Fri., Jan. 9, 8:30 am, ET

The U.S. Employment Situation Report and Non-Farm Payrolls are the most important indicators of labor market conditions and economic health, measuring the number of new jobs added to the U.S. economy, as well as the U.S. Unemployment Rate and Average Hourly Earnings. The consensus forecast for the Non-Farm Payrolls is -500,000, compared to -533,000 jobs reported in the previous month. The Unemployment Rate is expected to rise to 7.0% from the previously reported 6.7%.

Published on  Wed, Jan 7 2009, 06:53 GMT