PERSONAL SPENDING

The Personal Spending released by the Bureau of Economic Analysis, Department of Commerce is an indicator that measures the total expenditure by individuals. The level of spending can be used as an indicator of consumer optimism. It is also considered as a measure of economic growth: While the Personal spending stimulates inflationary pressures, it could lead to rise interest rates. A high reading is positive (or Bullish) for the USD.

CORE PERSONAL CONSUMPTION EXPENDITURE

The Core Personal Consumption Expenditure released by the US Bureau of Economic Analysis is an average amount of money that consumers spend in a month. "Core" excludes seasonally volatile products such as food and energy in order to capture an accurate calculation of the expenditure. It is a significant indicator of inflation. A high reading is bullish for the USD, while a low reading is bearish.

PERSONAL INCOME

The Personal Income released by the Bureau of Economic Analysis, Department of Commerce measures the total income received by individuals, from all sources including wages and salaries, interest, dividends, rent, workers' compensation, proprietors' earnings, and transfer payments. This figure can provide insight on the US employment situation. A high reading is positive for the USD, whereas a low reading is negative.

CONSTRUCTION SPENDING

The Construction Spending released by the US Census Bureau is an indicator that measures the total amount of spending in the US on all types of construction. The residential construction component is useful for predicting future national new home sales and mortgage origination volume. A high reading is seen as positive, or bullish for the USD, while a low reading is seen as negative, or bearish.

ISM MANUFACTURING

The Institute for Supply Management (ISM) Manufacturing Index shows business conditions in the US manufacturing sector it is a significant indicator of the overall economic condition in US. A result above 50 is seen as positive (or bullish) for the USD, whereas a result below 50 is seen as negative (or bearish).

PENDING HOME SALES

The Pending Home Sales released by the National Association of Realtors is a leading indicator of trends of the housing market in the US It captures residential housing contract activity of existing single-family homes. As the housing market is considered as a sensitive factor to the US economy, it generates some volatility for the USD. A high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).

MBA MORTGAGE APPLICATIONS

The MBA Mortgage Applications released by the Mortgage Bankers Association presents various mortgage applications. It is considered as a leading indicator of the U.S Housing Market. A Mortgage growth represents a healthy housing market that stimulates the overall US economy. Thus, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).

FACTORY ORDERS

The Factory orders released by the US Census Bureau is a measure of the total orders of durable and non durable goods such as shipments (sales), inventories and orders at the manufacturing level which can offer insight into inflation and growth in the manufacturing sector. A high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).

FED'S BERNANKE TESTIFIES

The fed Governor Ben Shalom Bernanke gives a press conference as to how the Fed observes the current U.S. economy and the value of USD. His comments may influence the volatility of USD and determine a short-term positive or negative trend. His hawkish view is considered as positive, or bullish for the USD, whereas his dovish view is considered as negative or bearish for the Dollar.

ISM NON-MANUFACTURING

The ISM Non-Manufacturing Index released by the Institute for Supply Management (ISM)shows business conditions in the US non-manufacturing sector. It is worth noting that the non-manufacturing sector does not influence, either positively or negatively, the GDP as much as the ISM Manufacturing does. A result above 50 is positive (or bullish) for the USD.

EIA CRUDE OIL STOCKS CHANGE

EIA Crude Oil Stock is a measure of change in crude oil storage and it's released by the Energy Information Administration. This report indicates the oil demand and the price volatility. As the oil prices have an impact on worldwide economy, some volatility for the currencies, especially for the USD is expected. We have to take into account that Canada is the world's fourteenth largest producer of oil so a strong oil demand appreciates, or is bullish for the USD.

INITIAL JOBLESS CLAIMS

The Initial Jobless Claims released by the US Department of Labor is a measure of the number of people filing first-time claims for state unemployment insurance. In other words, it provides a measure of strength in the labor market. A larger than expected number indicates weakness in this market which influences the strength and direction of the US economy. Therefore, a decreasing number should be taken as positive or bullish for the USD.

CONTINUING JOBLESS CLAIMS

The Counting Jobless Claims released by the US Department of Labor measure the number of individuals who are unemployed and are currently receiving unemployment benefits. It presents the strength in the labor market. A rise in this indicator has negative implications for consumer spending which discourage economic growth. Therefore, a high reading is seen as negative, or bearish for the USD, while a low reading is seen as positive, or bullish.

NONFARM PRODUCTIVITY

The Non-farm Productivity released by the Bureau of Labor Statistics of the US Department of Labor shows the output per Hour of labor worked. Non-farm Productivity indicates the overall business health in the US, which has an influence on GDP. A high reading is positive (or bullish) for the USD, while a low reading is negative (or bearish).

NONFARM PAYROLLS

The nonfarm payrolls released by the Bureau of Labor Statistics of the US Department of Labor is one of the most important data. The report presents the number of people on the payrolls of all non-agricultural businesses. The monthly changes in payrolls can be excessively volatile. A high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).

AVERAGE HOURLY EARNINGS

The Average Hourly Earnings released by the Bureau of Labor Statistics of the US Department of Labor is a significant indicator of labor cost inflation and of the tightness of labor markets. The Federal Reserve Board pays close attention to when setting interest rates. A high reading is also positive for the USD, while a low reading is negative.

AVERAGE WEEKLY HOURS

The Average Weekly Hours released by the Bureau of Labor Statistics of the US Department of Labor is an indicator of labor cost inflation and of the tightness of labor markets. The Federal Reserve Board pays close attention to when setting interest rates. Excessive volatility is expected.

UNEMPLOYMENT RATE

The Unemployment Rate released by the Bureau of Labor Statistics of the US Department of Labor is the number of unemployed workers divided by the total civilian labor force. If the rate is up, it indicates a lack of expansion within the US economy. Therefore, a decrease of the figure is seen as positive (or bullish) for the USD, while an increase is seen as negative (or bearish).

CONSUMER CREDIT

The Consumer Credit released by the Board of Governors of the Federal Reserve is an amount of money that individuals borrowed. It shows if consumers can afford large expenses, which can fuel economic growth. However, a high figure may also indicate that the economy is overheating, as consumers borrow in order to live beyond their means. A high reading is seen as positive (or Bullish) for the USD, whereas a low reading is seen as negative.

WHOLESALE INVENTORIES

The Wholesale Inventories released by the US Census Bureau captures sales and inventory statistics from the second stage of the manufacturing process. The sales figures do not move the market as they do not reflect personal consumption while wholesale inventories may change the aggregate inventory profile which can influence the GDP forecast. A high inventory suggests economic slowing in the US, that is seen as negative (or bearish) for the USD, whereas a low reading is seen as positive (or bullish).

TREASURY'S Lew SPEECH

Jack Lew became the 76th Secretary of the US Department of Treasury in 2009. He gives a press conference as to how the Treasury Secretary observes the current US economy. His comments may determine a short-term positive or negative trend. If he shows a hawkish outlook, that is seen as positive (or bullish) for the USD, while a dovish is seen as negative (or bearish).

TRADE BALANCE

The Trade Balance released by the Bureau of Economic Analysis and the U.S. Census Bureau is a balance between exports and imports of total goods and services. A positive value shows trade surplus, while a negative value shows trade deficit. It is an event that generates some volatility for the USD. If a steady demand in exchange for US exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the USD.

FED'S BEIGE BOOK

The Beige Book reports on the current US economic situation. Through interviews with key business contacts, economists, market experts, and other sources are gathered by each of the 12 Federal Reserve Districts. The survey gives a picture of the overall US economic growth. An optimistic view of those authorities is considered as positive, or bullish for the USD, whereas a pessimistic view is considered as negative or bearish for the Dollar.

MONTHLY BUDGET STATEMENT

The Monthly Budget Statement released by the Financial Management Service summarizes the financial activities of federal entities, disbursing officers, and Federal Reserve banks. A positive budget statement that receipts exceed budgetary outlays is seen as bullish for the USD. On the other hands, a negative figure (deficit) that indicates government debt is seen as bearish.

RETAIL SALES

he retail Sales released by the US Census Bureau measures the total receipts of retail stores. Monthly percent changes reflect the rate of changes of such sales. Changes in Retail Sales are widely followed as an indicator of consumer spending. A high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).

BUSINESS INVENTORIES

The business inventories released by the US Census Bureau measures the monthly percentage changes in inventories from manufacturers, retailers, and wholesalers. The sales figures do not move the markets as they do not reflect personal consumption; while wholesale inventories may change the aggregate inventory profile which can influence the GDP forecast. A high reading is seen as negative (or bearish) for the USD, while a low reading is seen as positive (or bullish).

IMPORT PRICE INDEX

The Import Price Index released by the US Department of Labor informs the changes in the price of imported products into the US. The higher the cost of imported goods, the stronger the effect they will have on inflation, redounding in a higher probability of a rate rise. Therefore, a high reading should be taken as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).

REUTERS/MICHIGAN CONSUMER SENTIMENT INDEX

The Reuters/Michigan Consumer Sentiment Index released by the Reuters/University of Michigan is a survey of personal consumer confidence in economic activity. It shows a picture of whether or not consumers are willing to spend money. A high reading anticipates positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).

NY EMPIRE STATE MANUFACTURING INDEX

The survey of manufactures in New York conducted by the Federal Reserve Bank of New York. It indicates the overall manufactures in the United Sates. A positive result indicates bullish for US Dollar, while a negative result shows poor growth of US Dollar.

NET LONG-TERM TIC FLOWS

The total Net TIC Flows is released by the US Department of Treasury. TIC stands for Treasury International Capital. It shows in and out flows of financial resources in the United States. The TIC flow is one of the major events in the market, as it is seen by most participants as the Government resource for offsetting the current Trade Deficit. A high reading is positive (or bullish) for the USD, while a low reading is negative (or bearish).

TOTAL NET TIC FLOWS

The total Net TIC Flows is released by the US Department of Treasury. TIC stands for Treasury International Capital. It shows in and out flows of financial resources in the United States. The TIC flow is one of the major events in the market, as it is seen by most participants as the Government resource for offsetting the current Trade Deficit. A high reading is positive (or bullish) for the USD, while a low reading is negative (or bearish).

HOUSING STARTS

The Housing Starts released by the US Census Bureau, at the Department of Commerce is an indicator that tracks how many new single-family homes or buildings were constructed. For the survey each house and each single apartment are counted as one housing start. The figures include all private and publicly owned units. It indicates movements of the US housing market. A high reading anticipates positive (or bullish) for the USD, whereas a low reading is seen as negative (or bearish).

BUILDING PERMITS

The Building Permits released by the US Census Bureau, at the Ccommerce shows the number of permits for new construction projects. It implies the movement of corporate investments (US economic development). It tends to cause some volatility to the USD. The more growing number of permits, the more positive (or bullish) for the USD.

PRODUCER PRICE INDEX

The Producer Price Index released by the labor measures the average changes in prices in primary markets of the US by producers of commodities in all states of processing. Changes in the PPI are widely followed as an indicator of commodity inflation. A high reading is seen as positive (or bullish) for the USD, whereas a low reading is seen as negative (or bearish).

INDUSTRIAL PRODUCTION

The Industrial Production released by the Reserve shows the volume of production of US industries such as factories and manufacturing. Up trend is regarded as inflationary which may anticipate interest rates to rise. If high industrial production growth comes out, this may generate a positive sentiment (or bullish) for the USD.

CAPACITY UTILIZATION

The Capacity Utilization released by the Federal Reserve Board is the percentage of the US production capacity which is actually used over the short-time period. It is indicative of overall growth and demand in the U.S. economy. High capacity utilization stimulates inflationary pressures. A high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or Bearish).

CONSUMER PRICE INDEX

The Consumer Price Index released by the US Department of Labor is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. The purchase power of USD is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. A high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or Bearish).

CURRENT ACCOUNT

The Current Account released by the Bureau of Economic Analysis is a net flow of current transactions, including goods, services, and interest payments into and out of the US. A current account surplus indicates that the flow of capital into the US exceeds the capital reduction. A high reading is seen as positive (or Bullish) for the USD, whereas a low reading is seen as negative (or Bearish).

LEADING INDICATORS

The Leading Indicators released by the Conference Board measures future trends of the overall economic activity including employment, average manufacturing workweek, initial claims, permits for new housing construction, stock prices and yield curve. It is considered as a measure for economic stability in United States. This event generates some volatility for the USD. A high reading is seen as positive (or bullish).

PHILADELPHIA FED MANUFACTURING SURVEY

The Philadelphia Fed Survey is a spread index of manufacturing conditions (movements of manufacturing) within the Federal Reserve Bank of Philadelphia. This survey, served as an indicator of manufacturing sector trends, is interrelated with the ISM manufacturing Index (Institute for Supply Management) and the index of industrial production. It is also used as a forecast of The ISM Index. An above-the-expectations reading is seen as positive.

PURCHASING MANAGER INDEX MANUFACTURING

The Manufacturing Purchasing Managers Index (PMI) released by the Market Economics captures business conditions in the manufacturing sector. As the manufacturing sector dominates a large part of total GDP, the manufacturing PMI is an important indicator of business conditions and the overall economic condition in the Euro Zone. A result above 50 signals is bullish for the EUR, whereas a result below 50 is seen as bearish.

UNEMPLOYMENT RATE

The Unemployment Rate released by the Eurostat is the number of unemployed workers divided by the total civilian labor force. It is a leading indicator for the European Economy. If the rate is up, it indicates a lack of expansion within the European lobar market. As a result, a rise leads to weaken the European economy. A decrease of the figure is seen as positive (or bullish) for the EUR, while an increase is seen as negative (or bearish).

PURCHASING MANAGER INDEX SERVICES

The PMI service released by the Market Economics is an indicator of the economic situation in the Euro Zone services sector. It captures an overview of the condition of sales and employment. It is worth noting that the European service sector does not influence, either positively or negatively, the GDP as much as the PMI manufacturing does. Any reading above 50 signals expansion, while a reading under 50 shows contraction.

GROSS DOMESTIC PRODUCT S.A.

The Gross Domestic Product released by the Eurostat is a measure of the total value of all goods and services produced by the Eurozone. The GDP is considered as a broad measure of the Eurozone economic activity and health. A rising trend has a positive effect on the EUR, while a falling trend is seen as negative (or bearish).

PRODUCER PRICE INDEX

The Producer Price Index released by the Eurostat is an index that measures the change in prices received by domestic producers of commodities in all stages of processing (crude materials, intermediate materials, and finished goods). A high reading is seen positive (or bullish) for the EUR, while a low reading is seen as negative (or bearish).

RETAIL SALES

The Retail Sales released by the Eurostat is a measure of changes in sales of the German retail sector. It shows the performance of the retail sector in the short term. Percent changes reflect the rate of changes of such sales. The changes are widely followed as an indicator of consumer spending. The positive economic growth anticipates "Bullish" for the EUR, while a low reading is seen as negative, or bearish, for the EUR.

ECB INTEREST RATE DECISION

ECB Interest Rate Decision is announced by the European Central Bank. If the ECB is hawkish about the inflationary outlook of the economy and raises the interest rates it is positive, or bullish, for the EUR. Likewise, if the ECB has a dovish view on the European economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.

ECB MONTHLY REPORT

The European Central Bank publishes a monthly report that contains a detailed analysis of the prevailing economic situation and the risks to price stability. It also provides articles on a wide range of topics related to the tasks of the ECB. A high reading anticipates a hawkish attitude which will be positive, or bullish, for the EUR, while a low reading is seen as negative, or bearish.

INDUSTRIAL PRODUCTION S.A.

The Industrial Production is released by the Eurostat. It shows the volume of production of Industries such as factories and manufacturing. Up trend is regarded as inflationary which may anticipate interest rates to rise. If high industrial production growth comes out, this may generate a positive sentiment (or bullish) for the EUR, while low industrial production is seen as a negative sentiment (or bearish).

EMPLOYMENT CHANGE

The Employment Change released by the Eurostat is a measure of the change in the number of employed people in the Euro-Zone. Generally speaking, a rise in this indicator has positive implications for consumer spending which stimulates economic growth. Therefore, a high reading is seen as positive (or bullish) for the EUR, while a low reading is seen as negative (or bearish).

CONSUMER PRICE INDEX

The Euro Zone CPI released by the Eurostat captures the changes in the price of goods and services. The CPI is a significant way to measure changes in purchasing trends and inflation in the Euro Zone. A high reading anticipates a hawkish attitude which will be positive (or bullish) for the EUR, while a low reading is seen as negative (or bearish).

TRADE BALANCE N.S.A.

The Trade Balance released by the Eurostat is a balance between exports and imports of total goods and services. A positive value shows trade surplus, while a negative value shows trade deficit. It is an event that generates some volatility for the EUR. If a steady demand in exchange for exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the EUR.

CURRENT ACCOUNT N.S.A

The Current Account released by the European Central Bank is a net flow of current transactions, including goods, services, and interest payments into and out of the Euro-Zone. A current account surplus indicates that the flow of capital into the Euro-Zone exceeds the capital reduction. A high reading is seen as positive (or bullish) for the EUR, whereas a low reading is seen as negative (or bearish).

INDUSTRIAL NEW ORDERS S.A.

The Industrial new orders released by the Eurostat captures the value of new contracts for goods in the manufacturing sector. An increasing number of Industrial New Orders predicts enhanced production and a growth in the GDP. A high reading is seen as positive, or bullish, for the EUR, while a low reading is seen as negative, or bearish.

ECONOMIC CONFIDENCE

The Euro Zone Economic Confidence released by the European Commission is a survey of consumer’s confidence in economic activity. It indicates the trend of the overall Euro Zone economy. An optimistic view of consumers is considered as positive for the EUR, whereas a pessimistic view is considered as negative.

INDUSTRIAL CONFIDENCE

The Industrial Confidence released by the European Commission is an index that measures the level of industrial executive’s confidence in economic activity. The survey asks about orders and buildup of inventories. A high level of industrial confidence stimulates economic expansion while a low level drives to economic downturn. A high reading is seen as positive (or bullish) for the EUR, while a low reading is seen as negative (or bearish).

MONETARY BASE

The Monetary Base released by the Bank of Japan is the "Currency Supplied by the BoJ" including all the JPY in circulation, encompassing notes and coins as well as money held in bank accounts. It is considered as an important indicator of inflation, as monetary expansion adds pressure to the exchange rates. An acceleration of monetary base is considered as positive for the JPY, whereas a decline is seen as negative.

ADJUSTED CURRENT ACCOUNT

The Current Account released by the Ministry of Finance is a net flow of current transactions, including goods, services, and interest payments into and out of Japan. A current account surplus indicates that the flow of capital into Japan exceeds the capital reduction. A current account deficit indicates that there is a net capital outflow from these sources. A high reading is seen as positive for the JPY, while a low reading is seen as negative.

BANK LENDING

The bank Lending released by the Bank of Japan is a measure of total amounts outstanding and discounts changes by Japanese banks. The bank lending gives critical insight into the Japanese economy as it indicates the climate of business confidence and investment in Japan. A high reading is seen as positive (or bullish) for the JPY, while a low reading is seen as negative (or bearish).

MONEY SUPPLY M2+CD

The Money Supply M2+CD released by the Bank of Japan measures all the JPY in circulation, encompassing notes and coins as well as money held in bank accounts. It is considered as an important indicator of inflation, as monetary expansion adds pressure to the exchange rates. An acceleration of the M2 money is considered as positive for the JPY, whereas a decline is as negative.

TRADE BALANCE

The Trade Balance released by the Customs Office is a measure of balance amount between import and export. A positive value shows a trade surplus while a negative value shows a trade deficit. Japan is so much dependent on exports that the Japanese economy heavily relies on a trade surplus. If a steady demand in exchange for Japanese exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the JPY.

LEADING ECONOMIC INDEX

The Leading Economic Index released by the Cabinet Office is an economic indicator that consists of 12 indexes such as account inventory ratios, machinery orders, stock prices and other leading economic indicators. It shows the performance of the Japanese Economy over the short and mid-term. A result above 50 is positive (or bullish) for the JPY, whereas a result below 50 is seen as bearish.

MACHINE TOOL ORDERS

DOMESTIC CORPORATE GOODS PRICE INDEX

The Domestic Corporate Goods Price Index released by the Bank of Japan is a measure of prices for goods purchased by domestic corporates in Japan. The DCGPI is correlated with the CPI (Consumer Price Index) and is a way to measure changes in manufacturing cost and inflation in Japan. A high reading is seen as anticipatory of a rate hike and is positive (or bullish) for the JPY, while a low reading is seen as negative (or Bearish).

GROSS DOMESTIC PRODUCT

The Gross Domestic Product released by the Cabinet Office shows the monetary value of all the goods, services and structures produced in Japan within a given period of time. It is a gross measure of market activity because it indicates the pace at which the Japanese economy is growing or decreasing. A high reading or a better than expected number is seen as positive for the JPY, while a low reading is negative.

INDUSTRIAL PRODUCTION

The Industrial Production released by the Ministry of Economy, Trade and Industry measures outputs of the Japanese factories and mines. Changes in industrial production are widely followed as a major indicator of strength in the manufacturing sector. A high reading is seen as bullish for the JPY, whereas a low reading is seen as bearish.

CAPACITY UTILIZATION

The Capacity Utilization released by the Ministry of Economy, Trade and Industry is the percentage of the Japanese production capacity which is actually used over the short-time period. It is indicative of overall growth and demand in the Japanese economy. High capacity utilization stimulates inflationary pressures. A high reading is seen as positive (or bullish) for the JPY, while a low reading is seen as negative (or Bearish).

CONSUMER CONFIDENCE HOUSEHOLDS

The Consumer Confidence released by the Cabinet Office captures the level of confidence that households have in economic activity. A high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn. A result above 50 is positive (or bullish) for the JPY, whereas a result below 50 is seen as bearish.

BOJ INTEREST RATE DECISION

BoJ Interest Rate Decision is announced by the Bank of Japan. If the BoJ is hawkish about the inflationary outlook of the economy and raises the interest rates it is positive, or bullish, for the JPY. Likewise, if the BoJ has a dovish view on the Japanese economy and keeps the ongoing interest rate, or cuts the interest rate it is negative, or bearish.

BOJ'S GOVERNOR SHIRAKAWA SPEECH

The BoJ Governor Masaaki Shirakawa was born in 1949. He graduated from University of Tokyo and a M.A. in economics in 1977 from University of Chicago. In 2008 he became the governor. He gives a press conference as to how the BoJ observes the current Japanese economy and the value of JPY. His comments may determine a short-term positive or negative trend.

BANK OF JAPAN MONTHLY ECONOMIC SURVEY

The BoJ Monthly Economic Survey released by the Bank of Japan presents a study of economic movements in Japan. It reviews economic developments inside and outside of Japan and indicate a sign of new fiscal policy. Any changes in this report tend to affect the JPY volatility. A high reading is seen as positive (or bullish) for the JPY, while a low reading is seen as negative (or bearish).

BOJ MINUTES

The Bank of Japan publishes a study of economic movements in Japan. It indicates a sign of new fiscal policy. Any changes in this report tend to affect the JPY volatility. If the BoJ minutes show a hawkish outlook, that is seen as positive (or bullish) for the JPY.

TERTIARY INDUSTRY INDEX

Tertiary Industry Index released by the Ministry of Economy, Trade and Industry indicates the domestic service sector in Japan such as information and communication, electricity, gas heat and water, services, transport, wholesale and retail trade, finance and insurance ,and welfare. As the Japanese economy relies upon its exports, this event is expected to generate low volatility for the JPY. A high reading is positive (or bullish) for the JPY, while a low reading is negative (or bearish).

NATIONAL CPI EX FOOD, ENERGY

The National Consumer Price Index released by the Statistics Bureau is a measure of price movements obtained by comparison of the retail prices of a representative shopping basket of goods and services. These volatile products such as food and energy are excluded in order to capture an accurate calculation. CPI is the most significant way to measure changes in purchasing trends. The purchase power of JPY is dragged down by inflation. A high reading is seen as positive for the JPY.

TOKYO CPI EX FOOD, ENERGY

The Tokyo Consumer Price Index released by the Statistics Bureau is a measure of price movements obtained by comparison of the retail prices of a representative shopping basket of goods and services. These volatile products such as food and energy are excluded in order to capture an accurate calculation. CPI is the most significant way to measure changes in purchasing trends. The purchase power of JPY is dragged down by inflation. A high reading is seen as positive for the JPY.

RETAIL TRADE

The Retail Trade released by the Ministry of Economy, Trade and Industry captures the aggregate sales made through a business location (usually a store) in which the principal activity is the sale of merchandise and related services to the general public, for household or personal consumption. Consumer spending is a key important indicator for the Japanese economy. A high reading is positive for the JPY, while a low reading is negative.

JOBLESS RATE

The Jobless Rates released by the Ministry of Health, Labor and welfare is a measure of the percentage of unemployed in Japan. A high percentage indicates weakness in the labor market which influences the strength and direction of the Japanese economy. Therefore, a low percentage should be taken as positive or bullish for the JPY.

TANKAN LARGE MANUFACTURING OUTLOOK

The Tankan large Manufacturing Outlook released by the Bank of Japan shows forecasts of the growth in the Manufacturing sector for the next quarter. It is considered as an indicator of future business expectations. A high reading is seen as positive (or bullish) for the JPY, while a low reading is seen as negative (or bearish).

TANKAN LARGE ALL INDUSTRY CAPEX

The Tankan Large All Industry Capital Expenditure released by the Bank of Japan measures capital expenditure (capex) of all the Japanese industries except the financial industry. The Capex is considered as an early indicator of productively growth. A high reading is seen as positive (or bullish) for the JPY, while a low reading is seen as negative (or bearish).

TANKAN NON - MANUFACTURING INDEX

The Tankan Non-Manufacturing Index released by the Bank of Japan presents overall conditions of the service industry in Japan. It is an indicator for both the growth of domestic demand and the health of the non-export sector. A result above the 0 level is seen as positive (or bullish) for the JPY, whereas a result below 0 is seen as negative (or bearish).

RBA INTEREST RATE DECISION

RBA Interest Rate Decision is announced by the Reserve Bank of Australia. If the RBA is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the AUD. Likewise, if the RBA has a dovish view on the Australian economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.

COMPANY GROSS OPERATING PROFITS

The Company Gross Operating Profits released by the statistics measures the total amount of pre-tax profits earned from business activities, excluding interest expense on borrowing and valuation adjustments. A high reading is seen as positive (or bullish) for the AUD because good business conditions are a sign of a strong consumer spending and import/ export activity, while a low reading is seen as negative (or bearish).

RETAIL SALES TREND

The Retail Sales released by the Australian Bureau of Statistics is a survey of goods sold by retailers is based on a sampling of retail stores of different types and sizes and it's considered as an indicator of the pace of the Australian economy. It shows the performance of the retail sector over the short and mid-term. Positive economic growth anticipates bullish trends for the AUD, while a low reading is seen as negative or bearish.

RBA COMMODITY INDEX SDR

The RBA Commodity Price SDR released by the Reserve Bank of Australia is considered as an early indicator of export price changes. The price changes influence GDP and exchange rates. An increase in prices may indicate strength of the AUD, while a decrease in prices may indicate weakness of the AUD. A high reading is seen as bullish for the AUD, whereas a low reading is seen as bearish.

BUILDING PERMITS

The Building Permits released by the Australian Bureau of Statistics shows the number of permits for new construction projects. It implies the movement of corporate investments (the Australian economic development). It tends to cause some volatility to the AUD. The more growing number of permits, the more positive (or bullish) for the AUD.

CURRENT ACCOUNT BALANCE

The Current Account Balance released by the Australian Bureau of Statistics is a net flow of current transactions, including goods, services, and interest payments into and out of Australia. A current account surplus indicates that the flow of capital into Australia exceeds the capital reduction. A high reading is seen as positive (or Bullish) for the AUD, whereas a low reading is seen as negative (or Bearish).

GROSS DOMESTIC PRODUCT

The Gross Domestic Product released by the Australian Bureau of Statistics is a measure of the total value of all goods and services produced by Australia. The GDP is considered as a broad measure of Swiss economic activity and health. A rising trend has a positive effect on the AUD, while a falling trend is seen as negative (or bearish) for the AUD.

TRADE BALANCE

The trade balance released by the Australian Bureau of Statistics is the difference in the value of its imports and exports of Australian goods. Export data can give an important reflection of Australian growth, while imports provide an indication of domestic demand. Trade Balance gives an early indication of the net export performance. If a steady demand in exchange for Australian exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the AUD.

RBA'S GOVERNOR GLENN STEVENS SPEECH

The RBA Governor Glenn Stevens was born in 1958. He graduated from the University of Sydney. In 2006 he became Governor of the Reserve Bank of Australia. He gives a press conference as to how the RBA observes the current Australian economy and the value of AUD. His comments may determine a short-term positive or negative trend.

NATIONAL AUSTRALIA BANK'S BUSINESS CONDITIONS

The NAB´s Business Conditions released by the National Australia Bank looks at trading, profitability and employment conditions in Australia. It serves as an indicator of overall economic situation in the short term. A high reading is seen as positive (or bullish) for the AUD, while a low reading is seen as negative (or bearish).

HOME LOANS

The Home Loans released by the Australian Bureau of Statistics presents the number of home loans. It indicates the housing market trend in Australia and a level of consumer confidence as large housing loans are taken out. A high reading is seen positive (or bullish) for the AUD, while a low reading is seen negative (or bearish).

CONSUMER INFLATION EXPECTATION

The Consumer Inflation Expectation released by the Melbourne Institute presents the consumer expectations of future inflation during the next 12 months. The higher expectations, the stronger the effect they will have on a probability of a rate hike by the RBA. Therefore, a high reading should be taken as positive, or bullish, for the AUD, while low expectations are seen as negative or bearish.

UNEMPLOYMENT RATE

The Unemployment Rate release by the Australian Bureau of Statistics is the number of unemployed workers divided by the total civilian labor force. If the rate hikes, indicates a lack of expansion within the Australian labor market. As a result, a rise leads to weaken the Australian economy. A decrease of the figure is seen as positive (or bullish) for the AUD, while an increase is seen as negative (or bearish).

RBA MEETING'S MINUTES

The minutes of the Reserve Bank of Australia meetings are published two weeks after the interest rate decision. The minutes give a full account of the policy discussion, including differences of view. They also record the votes of the individual members of the Committee. If the RBA is hawkish about the inflationary outlook for the economy, then the markets see a higher possibility of a rate increase, and that is positive for the AUD.

INDUSTRIAL PRODUCTION

The Industrial Production released by the National Statistics measures outputs of the UK factories and mines. Changes in industrial production are widely followed as a major indicator of strength in the manufacturing sector. A high reading is seen as positive (or bullish) for the GBP, whereas a low reading is seen as bearish.

PURCHASING MANAGER INDEX MANUFACTURING

The Manufacturing Purchasing Managers Index (PMI) released by both the Chartered Institute of Purchasing & Supply and the Market Economics captures business conditions in the manufacturing sector. As the manufacturing sector dominates a large part of total GDP, the Manufacturing PMI is an important indicator of business conditions and the overall economic condition in UK. A result above 50 signals is bullish for the GBP, whereas a result below 50 is seen as bearish.

PMI CONSTRUCTION

The PMI Construction released by the Chartered Institute of Purchasing & Supply shows business conditions in the UK construction sector. It is worth noting that the construction sector does not influence, either positively or negatively, the GDP as much as the Manufacturing sector does A result that values above 50 signals appreciates (or is bullish for) the GBP, whereas a result that values below 50 is seen as negative (or bearish).

NATIONWIDE CONSUMER CONFIDENCE

The Nationwide Consumer Confidence captures the level of confidence that individuals have in current and future UK's economy. A high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn. A high reading is also positive for the GBP, while a low reading is negative.

HALIFAX HOUSE PRICES

The Halifax House Price Index released by the HBOS is the UK's longest running monthly house price series presents house prices and property price movements on a like-for-like basis. The housing prices are considered as a key indicator for inflationary pressures. A high reading is seen as positive (or bullish) for the GBP, while a low reading is seen as negative (or bearish).

BOE INTEREST RATE DECISION

BoE Interest Rate Decision is announced by the Bank of England. If the BoE is hawkish about the inflationary outlook of the economy and raises the interest rates it is positive, or bullish, for the GBP. Likewise, if the BoE has a dovish view on the UK economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.

PRODUCER PRICE INDEX – INPUT

The Producer Price Index Input released by the National Statistics is a monthly measurement of the rate of inflation experienced by the UK manufactures when buying goods and services. It captures changes in the average price of a fixed basket of goods and services purchased by the UK Manufactures. A high reading is positive (or bullish) for the GBP, while a low reading is seen as negative (or bearish).

PRODUCER PRICE INDEX – OUTPUT

The Producer Price Index Out released by the National Statistics is a monthly measurement of the price changes of goods produced by UK manufacturers. Generally speaking, a price hike generates higher retail prices for consumers. Thus, a high reading is positive (or bullish) for the GBP, while a low reading is seen as negative (or bearish).

INDUSTRIAL PRODUCTION

The Industrial Production released by the National Statistics measures outputs of the UK factories and mines. Changes in industrial production are widely followed as a major indicator of strength in the manufacturing sector. A high reading is seen as positive (or bullish) for the GBP, whereas a low reading is seen as bearish.

MANUFACTURING PRODUCTION

The Manufacturing Production released by the National Statistics measures the manufacturing output. Manufacturing Production is significant as a short term indicator of the strength of UK manufacturing activity that dominates a large part of total GDP. A high reading is seen as positive (or bullish) for the GBP, while a low reading is seen as negative (or bearish).

TOTAL TRADE BALANCE

The Trade Balance released by National Statistics is a balance between exports and imports of total goods and services. A positive value shows trade surplus, while a negative value shows trade deficit. It is an event that generates some volatility for the GBP. If a steady demand in exchange for UK exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the GBP.

GOODS TRADE BALANCE

The trade balance released by the National Statistics is a balance between exports and imports of goods A positive value shows trade surplus, while a negative value shows trade deficit. It is an event that generates some volatility for the GBP. If a steady demand in exchange for UK exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the GBP.

NIESR GDP ESTIMATE

The GDP Estimate released by the National Institute of Economic and Social Research is a GDP estimate report that comes out a month before the official announce. The report is highly reliable and would influence the UK monetary policy. A high reading is seen as positive (or bullish) for the GBP, whereas a low reading is seen as positive (or bearish).

CONSUMER PRICE INDEX

The Consumer Price Index released by the National Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. The purchase power of GBP is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. A high reading is seen as positive (or bullish) for the GBP, while a low reading is seen as negative (or Bearish).

RETAIL PRICE INDEX

Retail Price Index released by the National Statistics is a statistical measure of a weighted average of prices of a specified set of goods and services purchased by consumers. It is widely considered as a key measure of inflation that indicates an accurate reflection of the cost of living. A high reading is seen as positive (or bullish) for the GBP, whereas a low reading is seen as negative (or bearish).

BANK OF ENGLAND MINUTES

The minutes of the BoE MPC meetings are published two weeks after the interest rate decision. The minutes give a full account of the policy discussion, including differences of view. They also record the votes of the individual members of the Committee. If the BoE is hawkish about the inflationary outlook for the economy, then the markets see a higher possibility of a rate increase, and that is positive for the GBP.

AVERAGE EARNINGS EXCLUDING BONUS

The Average Earing Excluding Bonus released by the National Statistics is a key short-term indicator of how levels of pay are changing within the UK economy. It can be seen as a measure of growth in "basic pay". The positive earnings growth anticipates positive (or bullish) for the GBP, whereas a low reading is seen as negative (or bearish).

ILO UNEMPLOYMENT RATE

The ILO Unemployment Rate released by the National Statistics is the number of unemployed workers divided by the total civilian labor force. It is a leading indicator for the UK Economy. If the rate is up, it indicates a lack of expansion within the U.K. labor market. As a result, a rise leads to weaken the U.K. economy. A decrease of the figure is positive (or bullish) for the GBP, while an increase is negative.

RETAIL SALES

The retail Sales released by the National Statistics measures the total receipts of retail stores. Monthly percent changes reflect the rate of changes of such sales. Changes in Retail Sales are widely followed as an indicator of consumer spending. A high reading is seen as positive, or bullish for the GBP, while a low reading is seen as negative or bearish.

GFK CONSUMER CONFIDENCE

The GfK Group Consumer Confidence is a leading index that measures the level of consumer confidence in economic activity. A high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn. A high reading is positive for the GBP, while a low reading is bearish.

NATIONWIDE HOUSING PRICES N.S.A

The Nationwide Housing Prices shows the value of the houses prices in UK and indicate current movements in the housing market that is considered as a sensitive factor to the UK's economy. A high reading is seen as positive (or bullish) for the GBP, while a low reading is seen as negative (or bearish).

CURRENT ACCOUNT

The Current Account released by the National Statistics is a net flow of current transactions, including goods, services, and interest payments into and out of the UK. A current account surplus indicates that the flow of capital into the UK exceeds the capital reduction. A high reading is seen as positive (or Bullish) for the GBP, whereas a low reading is seen as negative (or Bearish).

GROSS DOMESTIC PRODUCT

The Gross Domestic Product released by the National Statistics is a measure of the total value of all goods and services produced by the UK. The GDP is considered as a broad measure of the UK economic activity and health. A rising trend has a positive effect on the GBP, while a falling trend is seen as negative (or bearish).

TOTAL BUSINESS INVESTMENT

The Total Business Investment released by the National Statistics presents the total amount of capital expenditures made by private firms. A large business investment is indicative of overall growth and demand in the UK economy. A high reading is seen as positive (or bullish) for the GBP, while a low reading is seen as negative (or Bearish).