Today's announcements and data releases, 20/5/2019
All times in GMT+7, Jakarta, Bangkok
EUR German Producer Price Index (MoM) (APR)
EUR German Producer Price Index (YoY) (APR)
JPY Convenience Store Sales (YoY) (APR)
The value of items sold at small convenience stores, based on a monthly industry survey. Japanese consumers spend a significant portion of their income at the more than forty thousand convenience stores in the country. In fact Japan has one of the highest convenience store per capita rates in the industrialized world. Even though a significant portion of Japan 's economy depends on global demand for exports, domestic consumption is still very important. Convenience Store Sales give good insight into developments in overall Japanese consumer spending because of the Japanese consumer's reliance on convenience stores to supply everyday necessities. As with most indicators of consumer spending, rapid growth in Convenience Store Sales signals mounting inflationary pressures.
CHF Total Sight Deposits CHF (MAY 17)
CHF Domestic Sight Deposits CHF (MAY 17)
EUR Euro-Zone Current Account s.a. (euros) (MAR)
Summarizes the flow of goods, services, income and transfer payments in and out of the Euro-zone nations to other countries. The report gauges how the Euro-zone nations' interact with the rest of the world. Current Account is one of the three components that make up a country's Balance of Payments (Financial Account, Capital Account and Current Account). Where the other side of the Balance of Payments, Capital and Financial Accounts deal mainly with financial assets and investments, the Current Account gives a detailed breakdown of how the country interacts with rest of the global economy on a 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) indicates that the flow of capital from these components into the Euro-zone exceeds the capital leaving the Euro-zone. A negative value (current account deficit) means that there is a net capital outflow from the Euro-zone. Persistent Current Account deficits may lead to a depreciation of a currency, as trade, income and transfer payments usually reflect that Euros are leaving the Euro Area to make payments abroad. Conversely, underlying surpluses act as an appreciating weight on the Euro. The Euro-zone has a historically had an export oriented economy and has relied on exports as the engine for economic expansion. To this day, trade surpluses form the foundation of Euro-zone current account surpluses. 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 at least a month 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 reflects data for a specific reporting month, any significant developments in the Current Account should theoretically have been already felt during that quarter.
But just like GDP and Trade Balance, Current Account is central to forecasting long term developments in foreign exchange rates. It gives a detailed picture of how the Euro-zone's aggregate economy interacts internationally, breaking down these exchanges into separate components that can be tracked and often anticipated. Thus the weight of the Current Account has led it historically to be one of the more important reports out of the Euro-zone. The headline figure is expressed in billions of Euros
EUR ECB Chief Economist Praet Speaks in London
USD Chicago Fed Nat Activity Index (APR)
USD Fed's Harker Speaks About Management Science in Boston
USD U.S. to Sell USD36 Bln 3-Month Bills
USD U.S. to Sell USD36 Bln 6-Month Bills
GBP BOE's Ben Broadbent speaks in London
- just now