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The Trading Week

The Trading Week: Nov. 1 − Nov. 6

Fri, Oct 30 2009, 20:55 GMT
by Ilian Yotov

AllThingsForex

Oct. 30, 2009 (Allthingsforex.com) – The U.S. Non-Farm Payrolls plus four interest rate announcements from the Fed, the Reserve Bank of Australia, the Bank of England, and the European Central Bank could set the trend for equities, commodities and currencies in the month 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, Nov. 1 will begin the trading session with a sequence of significant economic releases from “down under”, starting with the Australian Manufacturing PMI-Purchasing Managers' Index, a leading indicator of economic conditions measuring the activity level of purchasing managers in the manufacturing sector, at 6:30 pm, ET.

Another notable report- the Australian TD Securities Melbourne Institute Inflation Gauge, a measure of consumer inflation used as a leading monthly indicator of the official quarterly Consumer Price Index, will be released at 7:30 pm, ET, followed by the Australian House Price Index, a measure of changes in home prices, at 8:30 pm, ET.

The day will end with the Japanese Cash Earnings, a measure of workers’ income, at 9:30 pm, ET.   

Monday, Nov. 2 will start with the Swiss PMI-Purchasing Managers' Index, measuring the activity level of purchasing managers in the manufacturing and service sectors, at 3:30 am, ET. 

Two important releases will follow with the Euro-zone Manufacturing PMI-Purchasing Managers' Index, a leading indicator of economic conditions measuring the activity level of purchasing managers in the manufacturing sector, at 4:00 am, ET, followed by the U.K. Manufacturing PMI-Purchasing Managers' Index, at 4:30 am, ET. 

The U.S. economic data will bring the first spotlight event of the week- the U.S. ISM Manufacturing Index, a leading indicator of industrial activity, where a reading above or below 50 is the dividing line between economic expansion and contraction, scheduled at 10:00 am, ET, along with the U.S. Construction Spending, also at 10:00 am, ET.

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

Tuesday, Nov. 3 will start with the U.K. Construction PMI- Purchasing Managers' Index, measuring the level of activity of purchasing managers in the construction sector, at 4:30 am, ET.

The only notable U.S. economic report will be the U.S. Factory Orders, a leading indicator of economic activity measuring orders placed with domestic manufacturers, at 10:00 am, ET.

The evening will bring the Australian Services PMI- Purchasing Managers' Index, measuring the level of activity of purchasing managers in the services sector, at 6:30 pm, ET.

The U.K. Nationwide Consumer Confidence Index, a survey of consumers’ financial conditions and outlook on the economy, will follow at 8:00 pm, ET, along with the British Retail Consortium Shop Price Index of changes in the price of goods, also at 8:00 pm, ET.

The day will end with two notable reports- the Australian Retail Sales, the main gauge of consumer spending, at 8:30 pm, ET, along with the Australian Building Approvals, a leading indicator of housing market activity, also at 8:30 pm, ET.

Wednesday, Nov. 4 will begin with the U.K. Services PMI- Purchasing Managers' Index, a leading indicator of economic conditions measuring the activity level of purchasing managers in the services sector, at 4:30 am, ET, and the Euro-zone Services PMI- Purchasing Managers' Index, at 5:00 am, ET.

More European news will bring the Euro-zone PPI- Producer Price Index, the main measure of wholesale inflation experienced by manufacturers and a leading indicator of consumer inflation, at 5:00 am, ET.  

The U.S. economic data will begin with 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, at 8:15 am, ET.

Another spotlight event- the U.S. ISM Non-Manufacturing Index of economic conditions in the services industries: agriculture, mining, construction, transportation, communications, wholesale trade and retail trade, will be released at 10:00 am, ET, followed by the EIA- Energy Information Administration Weekly Oil Inventories, at 10:30 am, ET.

One of the main spotlight events of the week- the FOMC- Federal Market Committee Interest Rate Decision will be announced at 2:15 pm, ET.

An important report- the New Zealand Employment Situation and Unemployment Rate, the main gauge of employment trends and labor market conditions, will be released at 4:45 pm, ET.

The day will end with the Australian Trade Balance of the difference between imports and exports, at 7:30 pm, ET, and the Bank of Japan’s Meeting Minutes from the bank’s latest monetary policy meeting that could provide an outlook on economic conditions, inflation and future monetary policy, at 7:50 pm, ET.

Thursday, Nov. 5 will begin with the Swiss CPI- Consumer Price Index, the main measure of inflation, at 3:15 am, ET.

News from the U.K. will bring a spotlight event- the U.K. Industrial Production and Manufacturing Output, the main gauge of industrial activity measuring the output of factories, mines and utilities, at 4:30 am, ET.

Another notable report- the Euro-zone Retail Sales, the main measure of consumer spending, will be released at 5:00 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 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.

The Canadian Building Permits, a leading indicator of housing market conditions, will come at 8:30 am, ET.

The U.S. economic reports will begin with the weekly Jobless Claims, a gauge of labor market conditions measuring new unemployment claims, at 8:30 am, ET, along with the U.S. Non-farm Productivity and Labor Costs Index, measuring the growth of labor efficiency and price changes in labor costs, also at 8:30 am, ET.

A notable Canadian economic data will bring the Canadian Ivey PMI-Purchasing Managers' Index, a leading indicator of economic conditions measuring the activity level of purchasing managers in all sectors of the economy, at 10:00 am, ET, followed by the U.S. EIA- Energy Information Administration Weekly Natural Gas Inventories, at 10:30 am, ET.

The evening session will deliver the Australian Construction PMI- Purchasing Managers' Index, measuring the level of activity of purchasing managers in the construction sector, at 6:30 pm, ET.

The day will end with two important economic reports beginning with the U.K. National Institute for Global Economic and Social Research’s preliminary estimate of the U.K. GDP- Gross Domestic Product, the main measure of economic activity and growth, at 7:00 pm, ET.

The Reserve Bank of Australia’s Monetary Policy Report on inflation, economic conditions and future monetary policy, will wrap up the day at 7:30 pm, ET. 

Friday, Nov. 6 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.

The U.K. economic data will bring a notable report with the release of the U.K. Input and Output PPI- Producers Price Indexes, the main measures of wholesale inflation experienced by manufacturers and leading indicators of consumer inflation, at 4:30 am, ET.

The German Manufacturers’ Orders, a leading indicator of economic activity in the Euro-zone’s largest economy will be released at 6:00 am, ET.

A sequence of spotlight events will begin with the Canadian Employment Situation and Unemployment Rate, the main gauge of employment trends and labor market conditions, at 7:00 am, ET.

The main spotlight economic event of the week- 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 will hit the newswires at 8:30 am, ET, along with the U.S. Unemployment Rate and Average Hourly Earnings, also at 8:30 am, ET.

The busy first trading week of the month will end with the U.S. Wholesale Trade, a gauge of economic conditions measuring business inventories and sales, scheduled at 10:00 am, ET.

Published on  Fri, Oct 30 2009, 20:56 GMT