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The Trading Week

The Trading Week: Oct. 5 − Oct. 9

Sat, Oct 3 2009, 04:39 GMT
by Ilian Yotov

AllThingsForex

Oct. 2, 2009 (Allthingsforex.com) – The week ahead will be light on U.S. economic data, but three interest rate announcements from the Reserve Bank of Australia, the Bank of England, and the European Central Bank, along with employment, consumer spending and industrial activity reports from these three major economies, could serve as catalysts for AUD, EUR and GBP trading opportunities.

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. 5 will start with three notable reports- the Euro-zone Services PMI-Purchasing Managers' Index, a leading indicator of economic conditions measuring the activity level of purchasing managers in the services sector, at 4:00 am, ET, the U.K. Services PMI-Purchasing Managers' Index, at 4:30 am, ET, and the Euro-zone Sentix Investor Confidence Index of the outlook of investors on the economy, also at 4:30 am, ET.

The first spotlight event of the week- the Euro-zone Retail Sales, an important gauge of consumer spending measuring the total receipts at stores that sell durable and non-durable goods, will be released at 5:00 am, ET.

A major spotlight event from the U.S. will bring the ISM Non-Manufacturing Index of economic conditions in the services industries: agriculture, mining, construction, transportation, communications, wholesale trade and retail trade, scheduled at 10:00 am, ET.

The day will conclude with New Zealand’s Business Confidence, a measure of the economic outlook of big and small companies, at 5:00 pm, ET, followed by the Australian Trade Balance of the difference between imports and exports of goods and services, at 8:30 pm, ET. 

One of the main spotlight events of the week- the Reserve Bank of Australia Interest Rate Announcement, will wrap up the day at 11:30 pm, ET.

Tuesday, Oct. 6 will begin with an important report- the Swiss CPI- Consumer Price Index, the main measure of inflation preferred by the Swiss National Bank, at 3:15 am, ET.

A major spotlight event- the U.K. Industrial Production and Manufacturing Output, the main gauge of industrial activity measuring the physical output of the nation's factories, mines and utilities, will hit the newswires at 4:30 am, ET.

Notable Canadian economic data will include the Canadian Building Permits, a leading indicator of housing market activity, at 8:30 am, ET, and 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.

Another spotlight event will follow from the U.K. with the NIESR- National Institute of Economic and Social Research’s preliminary estimate of the U.K. GDP- Gross Domestic Product, the main measure of economic activity and growth, at 10:00 am, ET.

The sequence of important U.K. economic reports will continue with the U.K. Nationwide Building Society’s Consumer Confidence Index, a survey of consumers’ financial conditions and outlook on the economy, at 7:00 pm, ET, along with the BRC- British Retail Consortium Shop Price Index, a gauge of inflation that tracks price changes of goods sold at retail stores, also at 7:00 pm, ET.

The day will end with the Australian Home Loans, a leading indicator of housing market conditions measuring the total number of issued home loans, at 8:30 pm, ET.

Wednesday, Oct. 7 will start with the Japanese Leading Indicators of economic activity, at 1:00 am, ET, and the Swiss Unemployment Rate, at 1:45 am, ET.

A major spotlight event will follow with the release of the Euro-zone GDP- Gross Domestic Product, the main measure of economic activity and growth, due at 5:00 am, ET.

Another notable report from the Euro-zone’s largest economy- the German Manufacturers’ Orders, a leading indicator of industrial activity measuring new orders placed with manufacturers will come at 6:00 am, ET.

The only U.S. economic data that morning will be the EIA- Energy Information Administration Weekly Oil Inventories, at 10:30 am, ET.

The Japanese Current Account of goods, services and transfer of payments into and out of the country will be released at 7:50 pm, ET. 

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

Thursday, Oct. 8 will begin with the Japanese Eco Watchers Survey of the sentiment of businesses in the services industry, at 1:00 am, ET.

An important report- the German Industrial Production, the main gauge of industrial activity measuring the physical output of factories, mines and utilities of the Euro-zone’s largest economy will be released at 6:00 am, ET.

Two of the main spotlight events of the week will follow- the Bank of England Interest Rate Announcement, at 7:00 am, ET, and the European Central Bank’s Interest Rate Announcement, at 7:45 am, ET. 

Another significant 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, due at 8:30 am, ET. The language of his statement will be very closely watched for any hints of future changes in the ECB’s monetary policy.

News from Canada will bring the Canadian Housing Starts, a leading indicator of housing market activity measuring new residential construction, at 8:30 am, ET.                                                 

The U.S. economic data sequence will begin with the U.S. Weekly Jobless Claims, an important gauge of labor market conditions measuring new unemployment claims, at 8:30 am, ET, and the U.S. Wholesale Trade, measuring the dollar value of sales made and inventories held by merchant wholesalers, at 10:00 am, ET.

The U.S. releases will continue with the EIA- Energy Information Administration Weekly Natural Gas Inventories, at 10:30 am, ET, the Federal Reserve’s Balance Sheet, a report on the factors impacting the supply and use of Federal Reserve funds, scheduled at 4:30 pm, ET, and the U.S. Money Supply, a measure of the supply of money in the financial system, also at 4:30 pm, ET. 

The busy day will end with the Japanese Machinery Orders, a leading indicator of industrial activity, at 7:50 pm, ET.

Friday, Oct. 9 will start with the German CPI- Consumer Price Index, the main measure of inflation in the Euro-zone’s largest economy, at 2:00 am, ET, along with the German Trade Balance of the difference between imported and exported goods and services, also at 2:00 am, ET.

The French Industrial Production, the main gauge of industrial activity measuring the physical output of factories, mines and utilities of the Euro-zone’s second-largest economy will follow at 2:45 am, ET.

The U.K. economic data will bring two notable reports- the U.K. Input and Output PPI- Producers Price Index, the main measure of wholesale inflation experienced by manufacturers and a leading indicator of consumer inflation, at 4:30 am, ET, along with the U.K. Trade Balance of the difference between imports and exports of tangible goods and services, also at 4:30 am, ET.

A spotlight event will come from Canada with the release of the Canadian Employment Situation Report, the main gauge of labor market conditions 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 deliver the U.S. International Trade Balance, a measure of the difference between imports and exports of goods and services, at 8:30 am, ET.

The trading week will end with the Bank of Canada’s Business Outlook Survey of businesses on their outlook of current and future economic conditions, scheduled at 10:00 am, ET.

Published on  Sat, Oct 3 2009, 04:40 GMT