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The Trading Week

The Trading Week: June 28 − July 3

Fri, Jun 26 2009, 15:25 GMT
by Ilian Yotov

AllThingsForex

June 26, 2009 (Allthingsforex.com) – The U.S. Non-Farm Payrolls report and the European Central Bank’s Interest Rate Announcement will be in the spotlight in the holiday-shortened 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, June 28 will start the trading session with housing data from “down under” with New Zealand’s Building Permits, a leading indicator of housing market activity, at 6:45 pm, ET, along with New Zealand’s Trade Balance of the difference in value between imported and exported goods and services, also at 6:45 pm, ET.

The first spotlight event of the week- the Japanese Industrial Production, the main indicator of industrial performance measuring the output of factories, mines and utilities, will be released at 7:50 pm, ET, along with the Retail Sales, an important measure of consumer spending, also at 7:50 pm, ET.

Monday, June 29 will begin with the U.K. Mortgage Approvals, a leading indicator of demand for housing, at 4:30 am, ET, along with the U.K. Lending to Individuals, measuring consumer credit, also at 4:30 am, ET.

The Euro-zone Economic Sentiment Index, a survey of business and consumer sentiment, will be released at 5:00 am, ET.

Later that evening important economic data sequence will begin with the U.K. Consumer Confidence, a survey of consumers’ financial conditions and attitudes about the economy, at 7:00 pm, ET, and the Japanese Manufacturing PMI- Manufacturing Purchasing Manager's Index, measuring the activity level of purchasing managers in the manufacturing sector, at 7:15 pm, ET.

The day will conclude with the Japanese Unemployment Rate and Household Spending, at 7:30 pm, ET, and New Zealand’s Business Confidence, a survey of the confidence of businesses in the economy, at 11:00 pm, ET.

Tuesday, June 30 will begin with the Japanese Housing Starts, a leading indicator of housing market activity, at 1:00 am, ET, the Swiss Consumption Indicator of consumer spending, at 2:00 am, ET.

The German Retail Sales, the main gauge of consumer spending in the Euro-zone’s largest economy, and the German Unemployment Rate, will be released at 3:55 am, ET.

News from the U.K. will bring a spotlight event- the U.K. GDP- Gross Domestic Product, the main measure of economic activity and growth, at 4:30 am, ET.

One of the main spotlight events of the week- 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, will be released at 5:00 am, ET.

Another spotlight event will come with 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. S&P Case/Schiller National Home Price Index of changes in home prices in 20 of the largest 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.

A major spotlight event- 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.

Another spotlight event- the Japanese Tankan Manufacturing Index, a survey of large and small manufacturers conducted quarterly by the Bank of Japan, considered as the most complete reading of economic performance in Japan, will come at 7:50 pm, ET.

The day will end with two notable reports- the Australian Retail Sales, the main measure of consumer spending, and the Australian Building Approvals, both scheduled at 9:30 pm, ET.

Wednesday, July 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 help to predict the outcome of the monthly non-farm payrolls, due at 8:15 am, ET.

Another U.S. spotlight event- the ISM- Institute for Supply Management Manufacturing Index, an 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. Pending Home Sales Index, a leading indicator of housing market conditions, at 10:00 am, ET, 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 an important report- the Australian Trade Balance of the difference in value between imported and exported goods and services, at 9:30 pm, ET.

Thursday, July 2 will begin with 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, along with the Bank of England’s Credit Conditions survey, also at 4:30 am, ET.

News from the Euro-zone will bring two notable reports- the PPI- Producers Price Index, the main measure of wholesale inflation experienced by manufacturers and a leading indicator of consumer inflation, at 5:00 am, ET, and the Euro-zone Unemployment Rate, also at 5:00 am, ET, along with the Swiss National Bank’s Bulletin on inflation and economic conditions, 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 press conference following the ECB Governing Council's interest rate decision, at 8:30 am, ET. The language of the statement will be very closely watched for any hints of future interest rate cuts or increases and changes in the ECB’s monetary policy.

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 and labor market conditions, 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.

More 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.

Friday, July 3 will start with the Swiss CPI- Consumer Price Index, the main measure of inflation, at 3:15 am, ET.

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

The busy trading week will conclude with the Euro-zone Retail Sales, an important gauge of consumer spending measuring the total receipts at stores that sell durable and non-durable goods, scheduled at 5:00 am, ET.

The U.S. markets and banks will be closed in observance of Independence Day.

Published on  Fri, Jun 26 2009, 15:26 GMT