Sunday, 16 June, 2024
(GMT -4) Est Time: 18.30
Importance: Low
Performance of Services Index
| Actual | 43.0 |
| Forecast | |
| Previous | 46.6 |
Currency : NZD
Source of Report:
Business NZ (Release URL)
BNZ-BusinessNZ PSI is a monthly survey of the services sector providing an early indicator of activity levels. A PSI reading above 50 points indicates services activity is expanding; below 50 indicates it is contracting. The main PMI and sub-index results are seasonally adjusted.
A higher than expected reading should be taken as positive/bullish for the NZD , while a lower than expected reading should be taken as negative/bearish for the NZD.
(GMT -4) Est Time: 22:00
Importance: Medium
Fixed Asset Investment (YoY)
| Actual | |
| Forecast | 4.2% |
| Previous | 4.2% |
Currency : CNY
Source of Report:
National Bureau of Statistics of China (Release URL)
Chinese Fixed Asset Investment reports the change in the total amount spent on capital investment (in non-rural areas). Capital investments includes such things as factories, roads, power grids, and property.
A reading that is stronger than forecast is generally supportive (bullish) for the CNY, while a weaker than forecast reading is generally negative (bearish) for the CNY.
(GMT -4) Est Time: 22:00
Importance: Medium
Industrial Production (YoY)
| Actual | |
| Forecast | 6.2% |
| Previous | 6.7% |
Currency : CNY
Source of Report:
National Bureau of Statistics of China (Release URL)
Industrial Production gauges the change in the total inflation-adjusted value of output manufacturers, quarries, and utilities produced.
A reading that is stronger than forecast is generally supportive (bullish) for the CNY, while a weaker than forecast reading is generally negative (bearish) for the CNY.
(GMT -4) Est Time: 22:00
Importance: Medium
Chinese Industrial Production YTD (YoY) (May)
| Actual | |
| Forecast | |
| Previous | 6.3% |
Currency : CNY
Source of Report:
National Bureau of Statistics of China (Release URL)
Industrial Production measures the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities. A higher than expected reading should be taken as positive/bullish for the CNY, while a lower than expected reading should be taken as negative/bearish for the CNY.
Monday, 17 June , 2024
Holiday
Youth Day South Africa
Holiday
Eid al-Adha Singapore
Holiday
Bakri Id India
(GMT -4) Est Time: 04:00
Importance: Medium
ECB’s Lanes Speaks 
Currency: EUR
Source Of Report: European Central Bank (Release URL)
Philip R. Lane, member of the Executive Board of the European Central Bank, is set to speak. His speeches often contain indications on the future possible direction of monetary policy.
(GMT -4) Est Time: 05:00
Importance: Medium
ECB’s President Lagarde Speaks
Currency: EUR
Source Of Report:
European Central Bank (Release URL)
European Central Bank (ECB) President Christine Lagarde (November 2019 – October 2027) is to speak. As head of the ECB, which sets short term interest rates, she has a major influence over the value of the euro. Traders watch her speeches closely as they are often used to drop subtle hints regarding future monetary policy and interest rate shifts. Her comments may determine a short-term positive or negative trend.
(GMT -4) Est Time: 05:00
Importance: Medium
Wages in euro zone (YoY)
| Actual | |
| Forecast | |
| Previous | 3.10% |
Currency: EUR
Source Of Report: Eurostat (Release URL)
Breakdown of total nominal hourly labour costs, whole economy: wages.% change from previous year, not seasonally adjusted. In addition to employees gross earnings, total labour costs include indirect costs such as employers social contributions and taxes connected to the employment. Gross earnings or wages arethose paid directly and regularly by the employer at the time of each wage payment. They include the value of any social contributions, income taxes, etc. payable by the employee, even if actually withheld by the employer and paid directly to social insurance schemes, tax authorities, etc. on behalf of the employee. Hourly labour cost indices show the short-term development of the total cost for employers of employing the labour force. These indices are calculated by Member States using jointly-agreed definitions. When calculating these indices, all enterprises, whatever their size, and all employees should be taken into account.Labour costs include gross wages and salaries, employers social contributions and taxes net of subsidies connected to employment. Labour costs here do not include costs for occupational training or other costs such as those for canteens or recruitment.Hourly labour costs are obtained by dividing the total of these costs for all employees in a defined country by all hours worked by these employees. Here, instead of hours worked, hours paid/number of employees might have been used as a measure of volume of labour
(GMT -4) Est Time: 10:00
Importance: Medium
Housing Starts
| Actual | |
| Forecast | 247.0K |
| Previous | 240.2K |
Currency: CAD
Source Of Report: Canadian Mortgage and Housing Corporation (Release URL)
Housing starts measures the change in the quantity of new residential buildings upon which construction began over the reported month, in annualised terms. It is a leading indicator of strength in the housing sector.
A reading that is stronger than forecast is generally supportive (bullish) for the CAD, while a weaker than forecast reading is generally negative (bearish) for the CAD.
(GMT -4) Est Time: 08:30
Importance: Medium
NY Empire State Manufacturing Index
| Actual | |
| Forecast | -12.50 |
| Previous | -15.60 |
Currency : USD
Source of Report:
Federal Reserve Bank of New York (Release URL)
The Empire State Manufacturing Index rates the relative level of business conditions in the state of New York. A level above zero points to improving conditions, below indicates worsening conditions. The reading is compiled from a survey of about 200 manufacturers in New York state.
A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD.
(GMT -4) Est Time: 08:30
Importance: Medium
NY Empire State Manufacturing Index
| Actual | |
| Forecast | 12.30B |
| Previous | 14.37B |
Foreign Securities Purchases reports the amount of Canadian financial assets bought by foreign investors. Such investments include Canadian stocks, bonds, and other fixed-income instruments.
A reading that is stronger than forecast is generally supportive (bullish) for the CAD, while a weaker than forecast reading is generally negative (bearish) for the CAD.
(GMT -4) Est Time: 17:00
Importance: Medium
Westpac Consumer Sentiment
| Actual | |
| Forecast | |
| Previous | 93.2 |
The Westpac Consumer Sentiment Index measures the change in the level of consumer confidence in economic activity. On the index, a level above 100.0 indicates optimism, below indicates pessimism. The data is compiled from a survey of about 1,200 consumers which asks respondents to rate the relative level of past and future economic conditions.
A higher than expected reading should be taken as positive/bullish for the NZD, while a lower than expected reading should be taken as negative/bearish for the NZD.
Tuesday, 18 June, 2024
(GMT -4) Est Time: 00:30
Importance: High
RBA Interest Rate Decision
| Actual | |
| Forecast | 4.35% |
| Previous | 4.35% |
Currency: AUD
Source Of Report: Reserve Bank of Australia (Release URL)
The Reserve Bank of Australia (RBA) reports its decision on where to set the benchmark interest rate. As short term interest rates are an important determinant of currency valuation, traders watch interest rate changes closely.
A reading that is stronger than forecast is generally supportive (bullish) for the AUD, while a weaker than forecast reading is generally negative (bearish) for the AUD.
(GMT -4) Est Time: 05:00
Importance: Medium
German ZEW Current Conditions
| Actual | |
| Forecast | -69.0 |
| Previous | -72.3 |
Currency: EUR
Source Of Report: ZEW (Release URL)
This survey summarizes the net percentage of positive and negative responses regarding the expectations for economic growth in the next 6 months, as given by financial analysts from banks, insurance companies and large industrial enterprises. For example, if 50% believe that the economic situation will improve and 20% believe it will get worse, the result will be +30.
The survey deals with the markets of Germany, the USA, Japan, Great Britain, France, Italy and other EU countries.
A reading that is stronger than forecast is generally supportive (bullish) for the Euro, while a weaker than forecast reading is generally negative (bearish) for the Euro.
(GMT -4) Est Time: 05:00
Importance: Medium
German ZEW Economic Sentiment
| Actual | |
| Forecast | 49.6 |
| Previous | 47.1 |
Currency: EUR
Source Of Report: ZEW (Release URL)
The German Zentrum für Europäische Wirtschaftsforschung (ZEW) Economic Sentiment Index gauges the six-month economic outlook. A level above zero indicates optimism; below indicates pessimism. The reading is compiled from a survey of about 350 German institutional investors and analysts.
A reading that is stronger than forecast is generally supportive (bullish) for the EUR, while a weaker than forecast reading is generally negative (bearish) for the EUR
(GMT -4) Est Time: 05:00
Importance: High
CPI (YoY)
| Actual | |
| Forecast | 2.6% |
| Previous | 2.4% |
Currency: EUR
Source Of Report: Eurostat (Release URL)
The Consumer Price Index (CPI) measures the change in the prices of goods and services contained in a basket of consumer items. The Central bank pays very close attention to this figure in its role of maintaining price stability.
A reading that is stronger than forecast is generally supportive (bullish) for the EUR, while a weaker than forecast reading is generally negative (bearish) for the EUR.
(GMT -4) Est Time: 08:30
Importance: High
Core Retail Sales (MoM)
| Actual | |
| Forecast | 0.2% |
| Previous | 0.2% |
Currency: USD
Source Of Report: Census Bureau (Release URL)
Core Retail Sales measures the change in the total value of sales at the retail level in the U.S., excluding automobiles. It is an important indicator of consumer spending which accounts for a large percentage of US GDP.
A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD.
(GMT -4) Est Time: 08:30
Importance: High
Retail Sales (MoM)
| Actual | |
| Forecast | 0.3% |
| Previous | 0.0% |
Currency: USD
Source Of Report: Census Bureau (Release URL)
Retail Sales gauges the change in the aggregate value of sales at the retail level across the country. It is an important indicator of consumer spending accounting for the majority of overall economic activity.
A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD.
Wednesday, 19 June, 2024
Holiday
Juneteenth
United States
(GMT -4) Est Time: 02:00
Importance: High
CPI (YoY)
| Actual | |
| Forecast | 2.0% |
| Previous | 2.3% |
Currency: GBP
Source Of Report: Office for National Statistics (Release URL)
The Consumer Price Index (CPI) measures the change in the prices of goods and services contained in a basket of consumer items. The Central bank pays very close attention to this figure in its role of maintaining price stability.
A reading that is stronger than forecast is generally supportive (bullish) for the GBP, while a weaker than forecast reading is generally negative (bearish) for the GBP.
(GMT -4) Est Time: 18:45
Importance: High
GDP (QoQ)
| Actual | |
| Forecast | 0.1% |
| Previous | -0.1% |
Currency: NZD
Source Of Report: Statistics New Zealand (Release URL)
Gross Domestic Product (GDP) gauges the inflation-adjusted value of all goods and services produced within the economy. It is the most comprehensive measure of economic activity and an important indicator of economic health.
A reading that is stronger than forecast is generally supportive (bullish) for the NZD, while a weaker than forecast reading is generally negative (bearish) for the NZD.
Thursday, 20 June, 2024
(GMT -4) Est Time: 03:30
Importance: High
SNB Interest Rate Decision (Q2)
| Actual | |
| Forecast | |
| Previous | 1.50% |
Currency: CHF
Source Of Report: Swiss National Bank (Release URL)
Swiss National Bank (SNB) governing board members come to a consensus on where to set the target range for the rate. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation.
A reading that is stronger than forecast is generally supportive (bullish) for the CHF, while a weaker than forecast reading is generally negative (bearish) for the CHF.
(GMT -4) Est Time: 07:00
Importance: High
BoE Interest Rate Decision
| Actual | |
| Forecast | 5.25% |
| Previous | 5.25% |
Currency: EUR
Source Of Report: Bank of England (Release URL)
Bank of England (BOE) monetary policy committee members vote on where to set the Bank Rate. Traders watch interest rate changes closely because short term interest rates are the primary factor in currency valuation.
A reading that is stronger than forecast is generally supportive (bullish) for the GBP, while a weaker than forecast reading is generally negative (bearish) for the GBP.
(GMT -4) Est Time: 08.30
Importance: High
Philadelphia Fed Manufacturing Index
| Actual | |
| Forecast | 4.8 |
| Previous | 4.5 |
Currency: USD
Source Of Report: Federal Reserve Bank of Philadelphia (Release URL)
The Philadelphia Federal Reserve Manufacturing Index measures the relative level of business conditions amongst manufacturers in the Federal reserve district. A level above zero on the index indicates improving conditions; below indicates worsening conditions. The data is compiled from a survey of about 250 manufacturers in the Philadelphia Federal Reserve district.
A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD.
(GMT -4) Est Time: 11:30
Importance: High
Crude Oil Inventories
| Actual | |
| Forecast | |
| Previous | 3.730M |
Currency: USD
Source Of Report:
Energy Information Administration (Release URL)
The Energy Information Administration’s (EIA) Crude Oil Inventories measures the weekly change in the number of barrels of commercial crude oil held by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation.
If the increase in crude inventories is more than expected, it implies weaker demand and is bearish for crude prices. The same can be said if a decline in inventories is less than expected.
If the increase in crude is less than expected, it implies greater demand and is bullish for crude prices. The same can be said if a decline in inventories is more than expected.
Friday, 21 June, 2024
(GMT -4) Est Time: 09:45
Importance: High
Manufacturing PMI
| Actual | |
| Forecast | 51.0 |
| Previous | 51.3 |
Currency: USD
Source Of Report: Markit (Release URL)
The Manufacturing Purchasing Managers’ Index (PMI) is a diffusion index incorporating survey results provided by manufacturing firms throughout the country. A reading above fifty suggests the manufacturing sector is expanding, while a reading below fifty suggests the manufacturing sector is in contraction. Policymakers and traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, rather than waiting for the hard data to emerge. While manufacturing accounts for a far smaller percentage of economic output than services, it is far more cyclical and is therefore a useful indicator of where in the economic cycle the economy is currently situated. A reading that is stronger than forecast is generally supportive (bullish) for the USD while a weaker than forecast reading is generally negative (bearish) for the USD.
(GMT -4) Est Time: 09:45
Importance: High
Services PMI (Jun)
| Actual | |
| Forecast | 53.4 |
| Previous | 53.8 |
Currency: USD
Source Of Report: Markit (Release URL)
The Service PMI release is published monthly by Markit Economics. The data are based on surveys of over 400 executives in private sector service companies. The surveys cover transport and communication, financial intermediaries, business and personal services, computing & IT, hotels and restaurants.
An index level of 50 denotes no change since the previous month, while a level above 50 signals an improvement, and below 50 indicates a deterioration. A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD.
(GMT -4) Est Time: 11:00
Importance: High
Fed Monetary Report
| Actual | |
| Forecast | 3.9% |
| Previous | 3.9% |
Currency: USD
Source Of Report: Federal Reserve (Release URL)
The Federal Reserve Act requires the Federal Reserve Board to submit written reports to Congress containing discussions of “the conduct of monetary policy and economic developments and prospects for the future.” This report–called the Monetary Policy Report–is submitted semiannually to the Senate Committee on Banking, Housing, and Urban Affairs and to the House Committee on Financial Services, along with testimony from the Federal Reserve Board Chair.
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The post Economic Week Ahead: June 16 – 22, 2024 appeared first on Ox Securities.
