Today's announcements and data releases, 13/12/2018
- Economic Calender
- 1 month ago
All times in GMT+7, Jakarta, Bangkok
EUR German Consumer Price Index (MoM) (NOV F)
Assesses changes in the cost of living by measuring changes in the prices of consumer items. The CPI is the headline inflation figure that indicates the strength of domestic inflationary pressures. Simply put, inflation reflects a decline in the purchasing power of the Euro in Germany , where each Euro buys fewer goods and services. CPI is the most popular way to measure changes in purchasing power. The report tracks changes in the price of a basket of goods and services that a typical German household might purchase. An increase in the index indicates that it takes more Euros to purchase this same set of basic consumer items. The German CPI is significant as one of the primary gauges of inflation. As the largest Euro-zone economy, inflation in Germany will contribute significantly to inflation in the Euro-zone and the behavior of the European Central Bank. High or rising inflation acts as a signal to the ECB to raise interest rates, an action which will result in the strengthening of the Euro. The headline figure for CPI is the percentage change in monthly and annualized percentage term.
EUR German Consumer Price Index (YoY) (NOV F)
CHF Producer & Import Prices (MoM) (NOV)
Tracks inflation in producer and import prices in Switzerland . The headline figure is the percentage change in the index from the previous period. Changes in this index will generally precede changes in the consumer price index, as higher import costs and producer prices tend to eventually be passed to consumers. As with any indicator of inflation, increases in producer and import prices tend to act as an appreciating weight for the Swiss franc because inflationary pressures are almost always met with interest rate increases from the Swiss central bank. The figure represents changes in the combined producer and import price index, calculated from changes in producer prices and import prices, giving appropriate weight to the proportion of domestic and imported goods.
CHF Producer & Import Prices (YoY) (NOV)
CHF SNB Sight Deposit Interest Rate (DEC 13)
CHF SNB 3-Month Libor Lower Target Range (DEC 13)
CHF SNB 3-Month Libor Upper Target Range (DEC 13)
CHF KOF Institute Winter Economic Forecast
CHF SNB's Jordan Speaks at Press Conference in Bern
EUR European Central Bank Rate Decision (DEC 13)
The European Central Bank's decision to increase, decrease, or maintain interest rates. Controlling interest rates is the key mechanism of monetary policy, and the ECB influences interest rates by first changing the "overnight rate" through the purchase or sale of government bonds. Lowering rates can spur economic growth but may incite inflationary pressures. On the other hand, increasing rates slows inflation but can stymie growth. The European Central Bank makes a concerted effort to be transparent in its policy. Frequent speeches by Bank Governers make policy goals clear and the Bank adheres to a stated inflation target of 2 percent, changing rates accordingly to meet that goal. Because of this, rate decisions are generally well anticipated, but very important nonetheless. The ECB's rate decision has an enormous influence on financial markets. Because the ECB interest rate is essentially the return investors receive while holding Euros, changes in rates affect the exchange rate of the Euro. Because rate changes are usually well anticipated, the actual decision does not tend to impact the market. But if the ECB changes rates they will hold a press conference where some rationale for the decision is offered. Market participants pay close attention to the press conference, hoping to clue in on the likelihood of further rate changes. Often, the language used in the press conference holds important signals to how ECB feels about inflation and the economy. The ECB President's language will be "hawish" if he is pessimistic about the inflation outlook for the economy. In that case, the market sees a higher chance of future rate hike. Conversely, if the ECB President believes inflation is in check, his remarks will be "dovish," and the market perceives a future rate increase to be unlikely.
EUR ECB Marginal Lending Facility (DEC 13)
EUR ECB Deposit Facility Rate (DEC 13)
CAD New Housing Price Index (MoM) (OCT)
A component of the Consumer Price Index (CPI) that measures changes in prices for new homes. Higher housing prices suggest stronger consumer demand and growth in the housing market. At the same time, higher housing prices that accompany economic expansion often lead to inflationary pressures. The headline number is the percentage change in the index. Note: The New Housing Price Index takes into account the quality and features of the new homes sold. For example, if selling prices for new homes are unchanged, but the features and quality of housing have increased (e.g. added swimming pool and better construction materials), then the price for new homes is considered to have fallen.
CAD New Housing Price Index (YoY) (OCT)
USD Import Price Index (MoM) (NOV)
USD Import Price Index (YoY) (NOV)
USD Export Price Index (MoM) (NOV)
USD Export Price Index (YoY) (NOV)
USD Import Price Index ex Petroleum (MoM) (NOV)
USD Initial Jobless Claims (DEC 8)
USD Continuing Claims (DEC 1)
USD EIA Working Natural Gas Implied Flow (DEC 7)
USD EIA Natural Gas Storage Change (DEC 7)
USD U.S. to Sell 8-Week Bills
USD U.S. to Sell 4-Week Bills