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Today's announcements and data releases, 17/12/2018

  • Regular
  • Economic Calender
  • 1 month ago
  • 26

All times in GMT+7 Jakarta, Bangkok

 

 

16:00

CHF Total Sight Deposits CHF (DEC 14)

 

16:00

CHF Domestic Sight Deposits CHF (DEC 14)

 

17:00

EUR Euro-Zone Trade Balance s.a. (OCT)

 

17:00

EUR Euro-Zone Trade Balance (euros) (OCT)

The difference between exports and imports of Euro-zone goods and services. The Trade Balance is one of the biggest components of Europe 's Balance of Payment, and thus gives valuable insight into pressures on the value of the Euro. A negative Trade Balance figure (deficit) indicates that imports are greater than imports. When exports are greater than imports, the Euro-zone experiences a trade surplus. Trade surpluses indicate that funds are coming into Europe in exchange for exported goods and services. Because such exported goods are usually purchased with Euros, trade surpluses typically indicates that currency is flowing into the Euro-zone. Such currency inflows may lead to a natural appreciation of a Euro, unless countered by similar capital outflows. At a bare minimum, surpluses will buoy the value of the currency. There are a number of factors that work to diminish the market impact of Euro-zone Balance of Trade. The report is not very timely, released fifty days after the reporting period. In addition, developments in many of the Trade Balance's components are typically well anticipated. Lastly, since the report reflects data for a specific reporting month, any significant changes in the Trade Balance should plausibly have been already felt during that month and not during the release of data. Despite these considerations, and because of the overall significance of Trade Balance data, the release has historically been one of the more important reports out of Europe. The headline figure for trade balance is expressed in millions of Euros, and usually accompanied by the year-on-year percentage change.

 

17:00

EUR Euro-Zone Consumer Price Index Core (YoY) (NOV F)

 

17:00

EUR Euro-Zone Consumer Price Index (YoY) (NOV F)

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.

 

17:00

EUR Euro-Zone Consumer Price Index (MoM) (NOV)

 

20:30

EUR Euro-Zone Consumer Price Index (MoM) (NOV)

 

The difference between imports and exports of goods. Merchandise Trade differentiates itself from Trade Balance because it does not record intangibles like services, only reporting on physical goods. Because exports of tangibles like oil, gold and manufacturing contribute to a large part of Canada 's GDP, trade data can give critical insight into developments in the economy and into foreign exchange rates.

Negative International Merchandise Trade (deficit) indicates that imports of goods are greater than exports. When exports are greater than imports, Canada experiences a trade surplus. Trade surpluses indicate that funds are coming into Canada in exchange for exported goods. Because such exported goods are usually purchased with Canadian dollars, trade surpluses usually reflect currency flowing into Canada, such currency inflows may lead to a natural appreciation of a the Canadian dollar, unless countered by similar capital outflows (Canadian International Securities Transactions tracks such capital flows). At a bare minimum, surpluses will buoy the value of the currency. There are a number of factors that work to diminish the market impact of Canadian Merchandise Trade on markets. The report is not very timely, released about three months after the reporting quarter. Developments in many of the components that comprise the figure are also usually well anticipated. Lastly, since the report reflect data for a specific reporting quarter, any significant changes in the Merchandise Trade should plausibly have been already felt during that quarter and not during the release of data. But because of the overall significance of Trade on Foreign Exchange Rates, the figure has a history of being one of the more important reports out of Canada . The headline figure for trade balance is expressed in millions of Canadian dollars and usually accompanied by a year-on-year percentage change figure.

 

20:30

USD Empire Manufacturing (DEC)

Survey assessing business conditions and expectations of manufacturing executives in New York . Though the survey is relatively new and New York has a considerably small number of manufacturers, the report has shown a promising correlation to the Philadelphia Fed Index and the market moving ISM Manufacturing Survey. Thus Empire serves as a useful earlier indicator of overall manufacturing in the US . Results are calculated as the difference between percentage of positive and negative scores; zero acts as the breakeven point. A high figure is bullish for the dollar, indicating positive business sentiment conducive to growth in production. A low or negative number signals poor business conditions.

 

21:00

CAD Existing Home Sales (MoM) (NOV)

 

22:00

USD NAHB Housing Market Index (DEC)

A timely gauge of home sales and expectations for future home building. Based on a small sample of homebuilders, the Housing Market Index is a timely indicator of future US home sales. However, as the index is not as comprehensive as formal housing reports like new home sales or MBA mortgage applications, the index acts more like a supplemental indicator for predicting housing trends. As such, the NAHB Housing Market Index is still able to provide general insight to where the housing market is heading. Given that new home sales reflect 'big ticket' items that require construction and investment, the housing market is often viewed as an indicator of the direction of the economy as a whole. Growth in the housing market will spur subsequent spending, generating demand for goods and services and the employees who provide them. The report headline is expressed in percentage change from the previous month.

 

23:30

USD U.S. to Sell USD39 Bln 3-Month Bills

 

23:30

USD U.S. to Sell USD36 Bln 6-Month Bills