Today's announcements and data releases, 17/1/2019
- Economic Calender
- 2 months ago
All times in GMT+7, Jakarta, Bangkok
GBP Bank of England Credit Conditions & Bank Liabilities Surveys
EUR Euro-Zone Construction Output s.a. (MoM) (NOV)
A measure of construction output and activity in the Euro Zone. Increased construction suggests a growing economy as expensive construction outlays reflect consumer and business optimism. The index is commonly used as a business cycle indicator, as the housing market is closely tied to changes in economic growth. There are two headline figures. The current month's figure adjusted for economic fluctuations that occur throughout the year. And the annualized figured including the full year's data.
EUR Euro-Zone Construction Output w.d.a. (YoY) (NOV)
EUR Euro-Zone Consumer Price Index Core (YoY) (DEC F)
EUR Euro-Zone Consumer Price Index (MoM) (DEC)
CPI is the key gauge for inflation in the Euro Zone. Inflation, simply put, is a decline in the purchasing power of the Euro, where each Euro buys fewer goods and services due to higher consumer prices. The index tracks changes in the price of a basket of goods and services that a typical household might purchase. When the CPI is high, it indicates that significant inflationary pressures exist in Euro Zone economies. This puts pressure on the European Central Bank to raise interest rates. When CPI comes out lower than expected the ECB is expected to lower interest rates, or keep them lower, to encourage economic growth. As a rule, the Bank adjusts rates in order to keep Europe consumer price inflation in the 0 to 2 percent range.The CPI is also expressed as Core CPI, a similar measure that excludes energy and food in the basket of goods for the reason that items are highly volatile in price and can distort the CPI. Some market participants believe that Core CPI provides a better representation of inflation. The headline figures for the Euro-zone Inflation Index are a monthly and annualized percentage change.
EUR Euro-Zone Consumer Price Index (YoY) (DEC F)
EUR ECB's Lautenschlaeger Speaks in Dublin
USD Housing Starts (MoM) (DEC)
USD Building Permits (MoM) (DEC)
USD Building Permits (DEC)
The number of new building projects authorized for construction. Because receiving a Building Permit is the first step in the construction process, the figure is used as the earliest indicator for developments in the housing market. Additionally, because of the high outlays needed for construction projects an increase in Building Permits implies an increase in investment and corporate optimism. Finally, the figure gives insight into consumer activity, since new home purchases are associated with an increase in sales of "big ticket" durable goods. Given such connections to consumer and corporate sentiment, real estate generally leads economic developments - thriving at the start of a boom and waning at the onset of recession. Considering the above, one would expect the Building Permits figure to significantly move markets. After all, Building Permits is a part of the Conference Board's Leading Indicators index used to forecast US growth. However, the timeliness of the figure comes at a cost. The report is far removed from end market impacts, making it a less market-moving figure.
USD Housing Starts (DEC)
Gauges the change in the number of new houses built in the United States. Housing Starts are one of the earliest indicators of the housing market, only trailing Building Permits in timeliness.
USD Philadelphia Fed Business Outlook (JAN)
USD Initial Jobless Claims (JAN 12)
USD Continuing Claims (JAN 5)
USD EIA Working Natural Gas Implied Flow (JAN 11)
USD EIA Natural Gas Storage Change (JAN 11)
USD Fed’s Quarles Speaks at Insurance Industry Forum
USD U.S. to Sell 8-Week Bills
USD U.S. to Sell 4-Week Bills