Today's announcements and data releases, 11/3/2019
- Economic Calender
- 1 week ago
All times in GMT+7, Jakarta, Bangkok
JPY Machine Tool Orders (YoY) (FEB P)
Tracks trends in machine tool orders placed by major manufacturers in Japan . Machine Tool Orders is considered a leading indicator of business capital spending, and increases are indicative of stronger business confidence and a better future outlook. Higher capital spending is also positive for the Japanese employment situation, as companies will generally require new employees to run and maintain new machinery.
The Machine Tool Orders figure tracks closely with the Machine Orders figure put out by the Economic and Social Research Institute, but tend to affect the market more since it is released nearly a month earlier.
EUR German Industrial Production s.a. (MoM) (JAN)
Measures the total change in orders placed at domestic manufacturers. The figure gives a picture of the strength of demand for German industrial products. Factory orders are an early indicator of the overall level of spending in the economy, and spending drives economic growth. Although higher German Factory Orders alone is not a strong enough factor to influence the value of Euro in a significant way, growth in orders can put upward pressure on the Euro if higher orders are due to greater demand aboard. German Factory Orders is a seasonally adjusted index. The headline figure is expressed as a percentage change in the index.
EUR German Industrial Production n.s.a. and w.d.a. (YoY) (JAN)
EUR German Trade Balance (JAN)
EUR German Current Account (euros) (JAN)
The German Current Account acts as a gauge for how Germany's economy interacts with the rest of the world. Current account is one of the three components (Financial Account, Capital Account and Current Account) that make up a country's Balance of Payments, the detailed accounting of all international interactions. Where the other side of the Balance of Payments, Capital and Financial Accounts, deals mainly with financial assets and investments, the Current Account gives a detailed breakdown of how the country intermingles with rest of the global economy on a routine, non-investment basis. The Current Account tracks the trade balance (exports and imports for goods and services), income payments (such as interest, dividends and salaries) and unilateral transfers (aid, taxes, and one-way gifts). A positive value (current account surplus) records that the flow of capital from these components into Germany exceeds the capital leaving the country. A negative value (current account deficit) means that there is a net capital outflow from these sources. Since the German economy is by far the largest in the EU, German Current Account has significant weight on the Euro. Persistent Current Account surpluses may lead to a natural appreciation of a currency, as trade, income and transfer payments usually reflect Euros coming into the country (just as underlying deficit act as depreciating weight). There are a number of factors that often work to diminish the impact of the Current Account release on the market. The report is not very timely, released monthly about two weeks after the reporting period. In addition, many of the components that lead to the final Current Account, such as production and trade figures, are known well in advance. Lastly, since the report reflect data for a specific reporting month, any significant developments in the Current Account should plausibly have been already felt during that month and not during the release of data. But due to the significance of German Current Account in tracking foreign exchange developments, the report has a history of moving markets upon release. The headline number is the Current Account balance and the percentage change in the Current Account from the previous month.
EUR German Exports s.a. (MoM) (JAN)
Goods and services produced domestically that are sold or awaiting sale outside of Germany . The headline number is the percentage change in the Exports value. The value of Exports is an important input in calculations of the Trade Balance, the Current Account and GDP. Exports are rarely considered in isolation. Rather, they are most often analyzed in comparison to Imports. Generally, excess exports indicate a country's goods are seen as desirable abroad, which signals that this country's currency is relatively weak (cheap) compared to that of its trading partners and may appreciate in the future due to robust demand.
EUR German Imports s.a. (MoM) (JAN)
Represents German domestic demand for foreign goods. The headline number is the percentage change in the value of imports. The value of imports is an important input in calculations of the Trade Balance, the Current Account and GDP. Imports are rarely considered in isolation. Rather, they are most often analyzed in comparison to Exports. German imports (and exports) are separated by intra-community trade and extra-community trade. Intra-community trade covers trade within the EU member countries while Extra-community trade covers trades with the rest of the world. A strong demand for imports from the Extra-community could lead to a trade deficit that could result in a drop in the currency's value. Note: The import report aggregates the Intra-community trade and Extra-community trade to provide overall import values. The report is seasonally adjusted to avoid confusion caused by month to month volatility in sales.
EUR Labor Costs SA (QoQ) (4Q)
EUR Labor Costs WDA (YoY) (4Q)
CHF Total Sight Deposits CHF (MAR 08)
CHF Domestic Sight Deposits CHF (MAR 08)
USD Retail Sales Advance (MoM) (JAN)
USD Retail Sales Ex Auto (MoM) (JAN)
USD Retail Sales Ex Auto and Gas (JAN)
USD Retail Sales Control Group (JAN)
GBP BOE's Haskel Speaks in Birmingham
USD Business Inventories (DEC)
Unsold goods held by manufacturers, wholesalers and retailers. Business Inventories are often able to show economic turning points. A significant decrease in inventories implies that the economy is on the verge of rapid growth because stockrooms for businesses are empty and need to be replenished, which triggers higher production overall. Inventories are also useful when examined in conjunction with total business sales. Rising inventories paired with slackening business sales are indicative of troubled economic times. When business sales slow, retailers' inventories increase and they are forced cut back on wholesale orders. Wholesalers, affected by the fear of swelling inventories, will slow or even shut down production in factories. Recent technological advancements allow firms to manage inventories more efficiently, keeping inventory levels lower. Accordingly, declines in inventory stores are often indicative of productivity increases rather than changes in demand. But these logistical advances put particular emphasis on growing inventories. Increases in stocks of goods signal declining demand in America. While the Business Inventories figure is released with the Advanced Retail Sales report, the Advanced Retail Sales report features a lag time of merely two weeks. The Business Inventories' lag time is three times as long, making it an indicator that follows rather than leads the overall pace of the economy. Market participants tend to focus more on the Advanced Retail Sales figures.
USD U.S. to Sell 3-Month Bills
USD U.S. to Sell 6-Month Bills