FX.co ★ Traders economic calendar. International economic events

The German Current Assessment rates current business conditions in Germany, without considering future expectations. It is a sub-index of the German Ifo Business Climate Index.

A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.

The German Ifo Business Climate Index rates the current German business climate and measures expectations for the next six months. It is a composite index based on a survey of manufacturers, builders, wholesalers and retailers. The index is compiled by the Ifo Institute for Economic Research.

A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.

The unemployment rate represents the number of unemployed persons expressed as a percentage of the labour force. The unemployment rate for a particular age/sex group is the number of unemployed in that group expressed as a percentage of the labour force for that group. The Central Statistical Office, GUS, revised its jobless figures starting in December 2003, after a national census showed a drop in the number of people employed in agriculture. A higher than expected reading should be taken as negative/bearish for the PLN , while a lower than expected reading should be taken as positive/bullish for the PLN.

A measure that examines the weighted average of prices of a basket of consumer goods and services, such as transportation, food and medical care. The CPI is calculated by taking price changes for each item in the predetermined basket of goods and averaging them; the goods are weighted according to their importance. Changes in CPI are used to assess price changes associated with the cost of living.

The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends.

The impact on the currency may go both ways, a rise in CPI may lead to a rise in interest rates and a rise in local currency, on the other hand, during recession, a rise in CPI may lead to a deepened recession and therefore a fall in local currency.

The figures displayed in the calendar represent the yield on the Treasury Gilt auctioned.

U.K. Treasury Gilts have maturities up to 50 years. Governments issue treasuries to borrow money to cover the gap between the amount they receive in taxes and the amount they spend to refinance existing debt and/or to raise capital. The rate on a Treasury Gilt represents the return an investor will receive by holding the note for its entire duration. All bidders receive the same rate at the highest accepted bid.

Yield fluctuations should be monitored closely as an indicator of the government debt situation. Investors compare the average rate at auction to the rate at previous auctions of the same security.

The Production Price Index (PPI) for all commodities for South African consumption. All indices are based on producer prices at the point of production in the case of commodities produced in South Africa.The Producers Price Index has two types of indexes. First, the output indexes which measure changes in the prices received by producers. Second, the input indexes which measure changes in the cost of production (excluding labour and capital costs). Inputs indexes: The input indexes measure price changes in costs of production excluding labour and depreciation costs. The input indexes cover the prices of: Materials, Fuels and electricity, Transport and communication, Commission and contract services, Rent and lease of land, buildings, vehicles and plant,Business services, Insurance premiums less claims. A higher than expected reading should be taken as positive/bullish for the ZAR , while a lower than expected reading should be taken as negative/bearish for the ZAR.

The Production Price Index (PPI) for all commodities for South African consumption. All indices are based on producer prices at the point of production in the case of commodities produced in South Africa.The Producers Price Index has two types of indexes. First, the output indexes which measure changes in the prices received by producers. Second, the input indexes which measure changes in the cost of production (excluding labour and capital costs). Inputs indexes: The input indexes measure price changes in costs of production excluding labour and depreciation costs. The input indexes cover the prices of: Materials, Fuels and electricity, Transport and communication, Commission and contract services, Rent and lease of land, buildings, vehicles and plant,Business services, Insurance premiums less claims. A higher than expected reading should be taken as positive/bullish for the ZAR , while a lower than expected reading should be taken as negative/bearish for the ZAR.

GDP measures the summary value of goods and services generated in a relevant country or region. A region's gross domestic product, or GDP, is one of the ways for measuring the size of its economy. Expenditure approach - Total expenditures on all finished goods and services produced within the economy. Calculation: GDP using the expenditure approach is derived as the sum of all final expenditures, changes in inventories and exports of goods and services less imports of goods and services. Market influence of GDP: Unexpectedly high quarterly GDP growth is perceived to be potentially inflationary if the economy is close to full capacity; this, in turn, causes bond prices to drop and yields and interest rates to rise. As far as the stock market is concerned, higher than expected growth leads to higher profits and that's good for the stock market.

Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy's health. A higher than expected reading should be taken as positive/bullish for the BHD, while a lower than expected reading should be taken as negative/bearish for the BHD.

The Confederation of British Industry (CBI) Industrial Trends Orders measures the economic expectations of the manufacturing executives in the U.K. It is a leading indicator of business conditions. A level above zero indicates order volume is expected to increase; a level below zero indicates expectations are for lower volumes. The reading is compiled from a survey of about 550 manufacturers.

A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.

The Bundesbank Monthly Report handles economic issues, including in particular monetary policy, and financial and economic policy issues.

The Annual Meetings of the Boards of Governors of the International Monetary Fund (IMF) and the World Bank Group (WBG) and the bring together central bankers, ministers of finance and development, parliamentarians, private sector executives, representatives from civil society organizations and academics to discuss issues of global concern, including the world economic outlook, poverty eradication, economic development, and aid effectiveness. Also featured are seminars, regional briefings, press conferences, and many other events focused on the global economy, international development, and the world's financial system.

FGV Consumer confidence is based on surveys which are sent to citizens which rate their opinion on different issues concerning future and current conditions.The Consumer Expectations Survey produces indicators about consumer sentiment, such as: decisions about saving accounts and future expenses; pointers to the short-term path of the economy; evaluations and expectations about the local economic situation; the financial situation of the family, work prospects, and intention to purchase durable goods; Consumer`s Trust Index, Present Situation, and Expectations Index. A stronger than expected figure should be taken as a bullish signal to the BRL while a weaker than expected figure as bearish to the BRL.

The Consumer Confidence measures the level of consumer confidence in economic activity. It is a leading indicator as it can predict the consumer spending, which is a major part in the total economic activity. Higher readings point to higher consumer optimism.

A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.

FX Reserves measures the foreign assets held or controlled by the country's central bank. The reserves are made of gold or a specific currency. They can also be special drawing rights and marketable securities denominated in foreign currencies like treasury bills, government bonds, corporate bonds and equities and foreign currency loans.

FX Reserves measures the foreign assets held or controlled by the country's central bank. The reserves are made of gold or a specific currency. They can also be special drawing rights and marketable securities denominated in foreign currencies like treasury bills, government bonds, corporate bonds and equities and foreign currency loans.

The consumer price index (CPI) is a measure of change in the general level of prices of goods and services bought by households over a specified period of time. It compares a household's cost for a specific basket of finished goods and services with the cost of the same basket during an earlier benchmark period. The consumer price index is used as a measurement of and is a key economic figure. Likely impact: 1) Interest Rates: Larger-than-expected quarterly increase in price inflation or increasing trend is considered inflationary; this will cause bond prices to drop and yields and interest rates to rise. 2) Stock Prices: Higher than expected price inflation is bearish on the stock market as higher inflation will lead to higher interest rates. 3) Exchange Rates: High inflation has an uncertain effect. It would lead to depreciation as higher prices mean lower competitiveness. Conversely, higher inflation causes higher interest rates and a tighter monetary policy that leads to an appreciation.

The consumer price index (CPI) is a measure of change in the general level of prices of goods and services bought by households over a specified period of time. It compares a household's cost for a specific basket of finished goods and services with the cost of the same basket during an earlier benchmark period. The consumer price index is used as a measurement of and is a key economic figure. Likely impact: 1) Interest Rates: Larger-than-expected quarterly increase in price inflation or increasing trend is considered inflationary; this will cause bond prices to drop and yields and interest rates to rise. 2) Stock Prices: Higher than expected price inflation is bearish on the stock market as higher inflation will lead to higher interest rates. 3) Exchange Rates: High inflation has an uncertain effect. It would lead to depreciation as higher prices mean lower competitiveness. Conversely, higher inflation causes higher interest rates and a tighter monetary policy that leads to an appreciation.

Deutsche Bundesbank President and voting member of the ECB Governing Council from Jan 2022. He's believed to be one of the most influential members of the council. ECB Governing Council members vote on where to set the Eurozone's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy.

The National Monetary Council (CMN) meets once a month and is responsible for issuing guidelines for the National Financial System. CMN sets Brazilian inflation targets and formulates monetary and credit policies aiming at preservation of Brazilian monetary stability, among others.

A monthly report by the Chicago Federal Reserve Bank that tracks economic activity in the 7th district, which is comprised of Indiana, Iowa, Illinois, Michigan and Wisconsin. The index is useful in tracking economic growth and identifying potential inflation.

A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.

Core Durable Goods Orders measures the change in the total value of new orders for long lasting manufactured goods, excluding transportation items. Because aircraft orders are very volatile, the core number gives a better gauge of ordering trends. A higher reading indicates increased manufacturing activity.

A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.

Durable Goods Orders measures the change in the total value of new orders for long lasting manufactured goods, including transportation items.

A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.

New orders measure the value of orders received in a given period of time. They are legally binding contracts between a consumer and a producer for delivering goods and services. New orders indicate future industrial output and production requirements.The Manufacturers Shipments, Inventories, and Orders (M3) survey provides broad-based, monthly statistical data on economic conditions in the domestic manufacturing sector. There are 89 separately tabulated industry categories in the M3 survey. These categories are groupings of the 473 manufacturing industries as defined in the 1997 North American Industry Classification System (NAICS) Manual. The monthly M3 estimates are based on information obtained from most manufacturing companies with $500 million or more in annual shipments. In order to strengthen the sample coverage in individual industry categories, the survey includes selected smaller companies. Value of Shipments - The value of shipments data in the M3 survey represents net selling values, f.o.b. plant, after discounts and allowances and excluding freight charges and excise taxes.

Manufacturers new orders for nondefense capital goods excluding aircrafts. Nondefense capital goods include among other things: small arms; farm machinery and equipment; construction machinery; turbines, generators and other power transmission equipment; electronic computers; communications equipment; heavy duty trucks; office and institutional furniture; and medical materials and supplies.

The Manufacturers Shipments, Inventories, and Orders survey provides broad- based, monthly statistical data on economic conditions in the domestic manufacturing sector.

A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD.

The Average Weekly Earnings report is a significant economic indicator for Canada. It measures the average income, including overtime, of employees in the country on a weekly basis. The earnings information is presented by sector, allowing for detailed evaluations of trends in different areas of the economy.

Higher earnings potentially signal positive growth in the economy, suggesting that businesses are doing well and can afford to pay higher wages. Meanwhile, a decrease may signal an economic slowdown. It is heavily used by analysts and policy makers for planning and forecasting. However, it should be noted that this indicator does not account for inflation and changes in the number of hours worked.

Continuing Jobless Claims measures the number of unemployed individuals who qualify for benefits under unemployment insurance.

A higher than expected reading should be taken as negative/bearish for the USD, while a lower than expected reading should be taken as positive/bullish for the USD.

Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week.

A higher than expected reading should be taken as negative/bearish for the USD, while a lower than expected reading should be taken as positive/bullish for the USD.

Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week.

As the week to week numbers might be very volatile, the four week moving average smooths the weekly data and used for the initial jobless claims metric A higher than expected reading should be taken as negative/bearish for the USD, while a lower than expected reading should be taken as positive/bullish for the USD.

The National Bank of Belgium (NBB) Business Climate Index measures the change in the level of confidence in business conditions. On the index, a level above zero indicates improving conditions, below indicates worsening conditions. The data is compiled from a survey of about 6,000 businesses which asks respondents to rate the current level of business conditions and expectations for the following six months.

A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.

Monetary aggregates, known also as "money supply", is the quantity of currency available within the economy to purchase goods and services. Depending on the degree of liquidity chosen to define an asset as money, various monetary aggregates are distinguished: M0, M1, M2, M3, M4, etc. Not all of them are used by every country. Note that methodology of calculating money supply varies between countries. M2 is a monetary aggregate that includes all physical currency circulating in the economy (banknotes and coins), operational deposits in central bank, money in current accounts, saving accounts, money market deposits and small certificates of deposit. Excess money supply growth potentially can cause inflation and generate fears that the government may tighten money growth by allowing the interest rates to rise which in turn, lowers future prics.

Bank Lending is a key economic event that reflects the changes in total loans extended by banks in Kuwait within a specified period. This event is significant because it provides insights into the health of the banking sector and the overall economic environment in the country.

When bank lending is on the rise, it implies that businesses and consumers are borrowing money, which in turn stimulates economic growth. On the other hand, a declining trend in bank lending may indicate a downturn in the economy, signaling lower consumer confidence and reduced willingness to invest in new ventures.

Market participants closely follow this event to understand the shifts in the credit market and act accordingly in terms of investment and trading strategies. Furthermore, it guides policymakers in making decisions that impact interest rates and other monetary policies to maintain financial stability.

 Foreign Exchange Reserves are the foreign assets held or controlled by the country central bank. The reserves are made of gold or a specific currency. They can also be special drawing rights and marketable securities denominated in foreign currencies like treasury bills, government bonds, corporate bonds and equities and foreign currency loans. A higher than expected number should be taken as positive to the RUB, while a lower than expected number as negative

Philip R. Lane, member of the Executive Board of the European Central Bank, is set to speak. His speeches often contain indications on the future possible direction of monetary policy.

Existing Home Sales measures the change in the number of existing (not new) residential buildings that were sold during the previous month. This report helps to gauge the strength of the U.S. housing market and is a key indicator of overall economic strength.

A higher than expected number should be taken as positive to the USD, while a lower than expected number as negative

Existing Home Sales measures the change in the annualized number of existing residential buildings that were sold during the previous month. This report helps to gauge the strength of the U.S. housing market and is a key indicator of overall economic strength.

A higher than expected reading should be taken as positive/bullish for the USD, while a lower than expected reading should be taken as negative/bearish for the USD.

The Unemployment Rate measures the percentage of the total work force that is unemployed and actively seeking employment. A higher than expected reading should be taken as negative/bearish for the ILS , while a lower than expected reading should be taken as positive/bullish for the ILS.

The Energy Information Administration (EIA) Natural Gas Storage report measures the change in the number of cubic feet of natural gas held in underground storage during the past week.

While this is a U.S. indicator it tends to have a greater impact on the Canadian dollar, due to Canada's sizable energy sector.

If the increase in natural gas inventories is more than expected, it implies weaker demand and is bearish for natural gas prices. The same can be said if a decline in inventories is less than expected.

If the increase in natural gas is less than expected, it implies greater demand and is bullish for natural gas prices. The same can be said if a decline in inventories is more than expected.

The Federal Reserve Bank of Kansas City quarterly Survey of Manufacturers provides information on current manufacturing activity in the Tenth District (Colorado, Kansas, Nebraska, Oklahoma, Wyoming, northern New Mexico, and western Missouri). The accumulated results also help trace longer term trends. The survey monitors about 300 manufacturing plants selected according to geographic distribution, industry mix, and size. Survey results reveal changes in several indicators of manufacturing activity, including production and shipments, and identify changes in prices of raw materials and finished products.The survey is conducted during the first month of each quarter. A higher than expected reading should be taken as positive/bullish for the USD , while a lower than expected reading should be taken as negative/bearish for the USD.

The Federal Reserve Bank of Kansas City quarterly Survey of Manufacturers provides information on current manufacturing activity in the Tenth District. The survey monitors about 300 manufacturing plants selected according to geographic distribution, industry mix, and size. Survey results reveal changes in several indicators of manufacturing activity, including production and shipments, and identify changes in prices of raw materials and finished products. A higher than expected number should be taken as positive to the USD, while a lower than expected number as negative

The figures displayed in the calendar represent the rate on the Treasury Bill auctioned.

U.S. Treasury Bills have maturities of a few days to one year. Governments issue treasuries to borrow money to cover the gap between the amount they receive in taxes and the amount they spend to refinance existing debt and/or to raise capital. The rate on a Treasury Bill represents the return an investor will receive by holding the bill for its entire duration. All bidders receive the same rate at the highest accepted bid.

Yield fluctuations should be monitored closely as an indicator of the government debt situation. Investors compare the average rate at auction to the rate at previous auctions of the same security.

The figures displayed in the calendar represent the rate on the Treasury Bill auctioned.U.S. Treasury Bills have maturities of a few days to one year. Governments issue treasuries to borrow money to cover the gap between the amount they receive in taxes and the amount they spend to refinance existing debt and/or to raise capital. The rate on a Treasury Bill represents the return an investor will receive by holding the bill for its entire duration. All bidders receive the same rate at the highest accepted bid. Yield fluctuations should be monitored closely as an indicator of the government debt situation. Investors compare the average rate at auction to the rate at previous auctions of the same security.

The Atlanta Fed GDPNow is an economic event that provides a real-time estimate of the United States' gross domestic product (GDP) growth for the current quarter. It serves as a valuable indicator for analysts, policymakers, and economists looking to gauge the health of the American economy.

Created and maintained by the Federal Reserve Bank of Atlanta, the GDPNow model utilizes a sophisticated algorithm that processes incoming data from official government sources. These sources include reports on manufacturing, trade, retail sales, housing, and other sectors, which allows the Atlanta Fed to update their GDP growth projections on a frequent basis.

As an essential benchmark for economic performance, the GDPNow forecast can significantly impact financial markets and influence investment decisions. Market participants often use the GDPNow forecast to adjust their expectations regarding monetary policies and various economic outcomes.

The figures displayed in the calendar represent the yield on the Treasury Note auctioned.

U.S. Treasury Notes have maturities of two to ten years. Governments issue treasuries to borrow money to cover the gap between the amount they receive in taxes and the amount they spend to refinance existing debt and/or to raise capital. The rate on a Treasury Note represents the return an investor will receive by holding the note for its entire duration. All bidders receive the same rate at the highest accepted bid.

Yield fluctuations should be monitored closely as an indicator of the government debt situation. Investors compare the average rate at auction to the rate at previous auctions of the same security.

The Fed balance sheet is a statement listing the assets and liabilities of the Federal Reserve System. Details of the Fed's balance sheet are disclosed by the Fed in a weekly report called "Factors Affecting Reserve Balances."

Reserve Balances with Federal Reserve Banks is the amount of money that depository institutions maintain in their accounts at their regional Federal Reserve Banks.