Today's announcements and data releases, 9/1/2019
- Economic Calender
- 1 month ago
All times in GMT+7, Jakarta, Bangkok
CHF SNB Posts Preliminary Result
EUR German Trade Balance (NOV)
EUR German Current Account (euros) (NOV)
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) (NOV)
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) (NOV)
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.
CHF Consumer Price Index (MoM) (DEC)
It is the key gauge for inflation in Switzerland . Simply put, inflation reflects a decline in the purchasing power of the Franc, where each Franc buys fewer goods and services. The CPI calculates the change in the price of a predetermined basket of consumer goods and services. This basket represents the goods and services that an average household will purchase. The figure is compared to those of the previous month as well as the previous year in order to gauge changes to the costs of living on a month to month and year to year basis. The headline number is the percentage change either from the previous month's value or the previous year's value. As the key indicator of inflation, a rising CPI may prompt the Swiss National Bank to raise interest rates in attempt to manage inflation and slow economic growth. Higher interest rates make holding the Franc more attractive to foreign investors, and this higher level of demand will place upward pressure on the value of the Franc.
CHF Consumer Price Index (YoY) (DEC)
CHF Consumer Price Index EU Harmonized (MoM) (DEC)
CHF Consumer Price Index EU Harmonized (YoY) (DEC)
CHF Consumer Price Index Core (YoY) (DEC)
EUR Euro-Zone Unemployment Rate (NOV)
Reports the cumulative percentage of unemployed individuals in the Euro-zone nations. A low or falling unemployment rate is associated with increased expenditure, given that more people are employed and have incoming wages. Increased expenditure encourages economic growth, which can spark inflation. The figure acts as a significant indicator of the region's economic activity, particularly because it is released earlier than the GDP. However, because unemployment rates for member countries are released well before the aggregate Euro-zone rate, the figure often receives less attention.
USD MBA Mortgage Applications (JAN 4)
Gauges demand for mortgage application in the US . Tracking new home mortgages and refinances, MBA Mortgage Applications Survey serves at a current indicator for the US housing market. Growth in mortgages suggests a healthy housing market. Due to the multiplier effect housing has on the rest of the economy, rising activity suggests increased household income and economic expansion. The headline figure is the weekly percentage change in the MBA Mortgage Applications figure. Among the various indices measured in the survey, the purchase index and refinancing index most accurately reflect where the housing market is headed. The purchasing index measures the change in existing home sales in all mortgage applications, while the refinance index measures the mortgage refinancing activity in all mortgage applications.
CAD Housing Starts (DEC)
Reflects the rate of growth in housing construction. Housing Starts act as an indicator measuring the strength of Canada's construction sector and housing market. Economists also use the figure as a leading indicator for the economy as a whole due to Housing Starts' sensitivity to changes in the business cycle. Housing Starts slow at the onset of a recession and quickly grow at the beginning of an economic boom; consequently, a high Housing Starts figure forecasts strong economic growth. The headline figure is the percentage change in new home starts.
USD Fed’s Bostic Speaks in Chattanooga on Economic Outlook
USD Trade Balance (NOV)
The US Trade Balance refers to the difference between exports of goods and services out of the US, and imports to America. The trade balance is one of the biggest components of the US's Balance of Payment, which gives valuable insight and heavy pressure on the value of the dollar. A positive Trade Balance (surplus) indicates that exports are greater than imports. When imports exceed exports, the US experiences a trade deficit. Because foreign goods are usually purchased using foreign currency, trade deficits usually reflect dollars leaking out of the country. Such currency outflows may lead to a natural depreciation of a dollar, unless countered by comparable capital inflows (US Net Foreign Security Purchases, or TICs data reports on such capital flows). At a bare minimum, deficits fundamentally weigh down the value of the currency. There are a number of factors that work to diminish the market impact of US Trade Balance. The report is not very timely, coming some time after the reporting period. Developments in many of the figure's components are also typically well anticipated. Lastly, since the report reflects data for a specific reporting month, any significant changes in the Trade Balance should plausibly have already been felt during that month and not during the release of data. However, because of the overall significance of Trade Balance data in forecasting trends in the Forex Market, the release has historically been one of the more important reports out of the US. The headline figure for trade balance is expressed in billion of dollars.
MXN Bi-Weekly Consumer Price Index (DEC 31)
MXN Bi-Weekly Consumer Price Index (YoY) (DEC 31)
MXN Bi-Weekly Core Consumer Price Index (DEC 31)
MXN Consumer Price Index (MoM) (DEC)
MXN Consumer Price Index (YoY) (DEC)
MXN Consumer Price Index Core (MoM) (DEC)
USD Fed’s Evans Speaks on Economy and Monetary Policy
CAD Bank of Canada Rate Decision (JAN 9)
USD DOE U.S. Crude Oil Inventories (JAN 4)
USD DOE Cushing OK Crude Inventory (JAN 4)
USD DOE U.S. Gasoline Inventories (JAN 4)
USD DOE U.S. Distillate Inventory (JAN 4)
GBP BOE Governor Carney Participates in Online Q&A
USD Fed’s Rosengren Speaks on the Economic Outlook