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The Trading Week

The Trading Week: Oct. 18 − Oct. 23

Fri, Oct 16 2009, 19:46 GMT
by Ilian Yotov

AllThingsForex

Oct. 16, 2009 (Allthingsforex.com) – The week ahead will bring the U.S. Housing Starts and Existing Home Sales data that could provide the much needed signs of housing market recovery in order for the current Dow 10,000 breakout to be sustained. 

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, Oct. 18 will start with the U.K. Rightmove House Price Index, an indicator of housing market conditions measuring changes in home prices, at 7:00 pm, ET.

Two notable reports will bring the Japanese Tertiary Index, an important gauge of economic activity in the service industries: utilities, transport and telecommunications, wholesale and retail, finance, insurance, and real estate, scheduled at 7:50 pm, ET, and the Bank of Japan’s Meeting Minutes from the last monetary policy meeting that may provide some clues about the bank’s future monetary policy, also at 7:50 pm, ET.

Monday, Oct. 19 will begin with a gauge of the attractiveness of the Canadian Dollar for foreign investors- the Canadian Foreign Securities Purchases, a measure of foreign investments in Canada, at 8:30 am, ET.

The only U.S. economic report for the day will be the NAHB- National Association of Home Builders Housing Market Index of the demand outlook for single-family home builders, at 1:00 pm, ET.

The day will end with the Reserve Bank of Australia’s Meeting Minutes from the last monetary policy meeting that may provide some clues about the bank’s future monetary policy, at 8:30 pm, ET.

Tuesday, Oct. 20 will start with the German PPI- Producers Price Index, the main measure of wholesale inflation experienced by manufacturers in the Euro-zone’s largest economy and a leading indicator of consumer inflation, at 2:00 am, ET.   

News from the U.K. will bring the U.K. Public Sector Net Borrowing, a measure of credit debt and spending by public corporations, at 4:30 am, ET, and the estimate of the U.K. M4 Money Supply, also at 4:30 am, ET.

The Canadian Leading Indicators of economic activity will follow at 8:30 am, ET, along with the Canadian Wholesale Sales, a leading indicator of retail sales and consumer spending measuring sales made by wholesalers, also at 8:30 am, ET.

The U.S. economic data will bring the first spotlight event of the week- the U.S. Housing Starts and Building Permits, a gauge of housing market conditions measuring changes in the rate of home construction, at 8:30 am, ET, along with the U.S. PPI- Producers Price Index, the main measure of wholesale inflation experienced by manufacturers and a leading indicator of consumer inflation, also at 8:30 am, ET. 

One of the main spotlight events of the week will follow with the Bank of Canada’s Interest Rate Announcement, at 9:00 am, ET.

The day will conclude with the Australian Leading Indicators of economic activity, at 8:00 pm, ET.

Wednesday, Oct. 21 will begin with a spotlight event- the Bank of England’s Monetary Policy Committee Meeting Minutes that should provide clues about the bank’s position on interest rates and the future of the bank’s monetary policy, scheduled at 4:30 am, ET.

Another notable report from the U.K. will follow with the release of the Confederation of British Industry Industrial Trends Survey of economic conditions and the outlook of executives in the manufacturing sector, at 6:00 am, ET.

The U.S. economic reports will begin with the EIA- Energy Information Administration Weekly Oil Inventories, at 10:30 am, ET.

A spotlight event from the U.S. will bring the Fed’s Beige Book of economic conditions in the 12 Federal Reserve Districts based on anecdotal evidence considered by the FOMC members when making monetary policy decisions, scheduled at 2:00 pm, ET.

The day will end with the Japanese Trade Balance of the difference between imported and exported goods and services, at 7:50 pm, ET.

Thursday, Oct. 22 will start with the Japanese All Industries Activity Index of activity in the services industry combined with activity in the construction, agricultural, industrial and public sectors of the economy, at 12:30 am, ET.

The Swiss Trade Balance of the difference between imported and exported goods and services will hit the newswires at 2:15 am, ET, followed by the Euro-zone Current Account of goods, services and transfer of payments into and out of the region, at 4:00 am, ET.

News from the U.K. will deliver a spotlight event with the release of the U.K. Retail Sales, the main gauge of consumer spending, at 4:30 am, ET.

Another spotlight event will bring the Canadian Retail Sales, an important gauge of consumer spending measuring the total receipts at stores that sell durable and nondurable goods, at 8:30 am, ET.

The U.S. economic data sequence will begin with the usual for every Thursday weekly Jobless Claims, an important gauge of labor market conditions measuring new unemployment claims, at 8:30 am, ET, and the U.S. House Price Index of the price changes of homes with mortgages backed by Fannie May and Freddie Mac, at 10:00 am, ET.

The U.S. reports will continue with the U.S. Leading Indicators of economic activity, at 10:00 am, ET, and the EIA- Energy Information Administration Weekly Natural Gas Inventories, at 10:30 am, ET.

Another spotlight event from Canada that morning will bring the Bank of Canada’s Quarterly Monetary Policy Report on economic conditions, inflation and monetary policy, at 10:30 am, ET.

The day will end with the Australian Import Prices, a gauge of inflation measuring price changes in imported goods and services, at 8:30 pm, ET. 

Friday, Oct. 23 will begin with notable economic data- the German Manufacturing and Services PMI- Purchasing Manager's Indexes of the level of activity of purchasing managers in the manufacturing and service sectors, due at 3:30 am, ET.

A spotlight event will bring the German IFO Institute Business Climate and Expectations Index, a leading indicator of economic conditions and business expectations in the Euro-zone’s largest economy, at 4:00 am, ET, along with the Euro-zone Manufacturing and Services PMI- Purchasing Manager's Indexes, two leading indicators of economic conditions measuring the level of activity of purchasing managers in the manufacturing and service sectors, also at 4:00 am, ET.

Another spotlight event- the preliminary estimate of the U.K. GDP- Gross Domestic Product, the main measure of economic activity and growth, will be released at 4:30 am, ET, followed by the Euro-zone New Manufacturers Orders, a leading indicator of industrial activity, at 5:00 am, ET.

The trading week will end with its main spotlight event- the U.S. Existing Home Sales, the main gauge of the condition of the U.S. housing market measuring the number of closed sales of previously constructed homes, condominiums and co-ops, scheduled at 10:00 am, ET.

Published on  Fri, Oct 16 2009, 19:47 GMT