FX.co ★ Traders economic calendar. International economic events

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.

Money Supply is the aggregate amount of monetary assets available in a country at a specific time. According to the Financial Times, Money Supply M0 and M1, also known as narrow money, includes coins and notes in circulation and other assets that are easily convertible into cash. Money Supply M2 includes M1 plus short-term time deposits in banks. Money Supply M3 includes M2 plus longer-term time deposits. A higher than expected number should be taken as negative to the PLN, while a higher than expected number as negative

The Hungarian National Bank Monetary Policy Committee's decision on where to set the benchmark interest rate. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation.

A higher than expected rate is positive/bullish for the HUF, while a lower than expected rate is negative/bearish for the HUF.

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 prices. M2 = Currency in circulation + demand deposits (private sector) + time and savings deposits (private sector).

The Private Sector Credit is an important economic indicator that measures the total outstanding credit provided by financial institutions to businesses and households in Bahrain. This reflects the overall financial health of the private sector and is a key indicator of the level of credit available in the economy. It is a valuable tool for policymakers, investors, and analysts to assess the current economic climate and determine potential growth prospects.

A rise in private sector credit shows increased confidence and growth potential, as businesses and households are taking advantage of credit facilities to invest in capital goods, expand their operations, and boost consumer spending. This growth in credit is usually a sign of a healthy and expanding economy. On the other hand, a decline in credit indicates a lack of confidence, reduced investment, and potential stagnation in the economy. Therefore, monitoring changes in private sector credit can help identify prevailing economic trends and make informed decisions regarding investments and economic policies.

The budget of a government is a summary or plan of the intended revenues and expenditures of that government. Surplus in general refers to an excess of income over expenditure. Deficit refers to the negative of the budget surplus, thus the excess of expenditure over income.

Building Permits measures the change in the number of new building permits issued by the government. Building permits are a key indicator of demand in the housing market.

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.

Building Permits is a report closely watched by economists and investors alike. Since all related factors associated with the construction of a building are important economic activities (for example, financing and employment), the building permit report can give a major hint as to the state of the economy in the near future. A higher than expected number should be taken as positive to the USD, while a lower than expected number as negative.

The Redbook Index is a sales-weighted of year-over-year same-store sales growth in a sample of large US general merchandise retailers representing about 9,000 stores. A higher than expected number should be taken as positive to the USD, while a lower than expected number as negative.

The Manufacturing Purchasing Managers' Index (PMI) measures the activity level of purchasing managers in the manufacturing sector. A reading above 50 indicates expansion in the sector; below 50 indicates contraction. Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance. 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 S&P Global Composite PMI (Purchasing Managers' Index) is an economic calendar event that provides a comprehensive, forward-looking insight into the performance of the global economy. This event measures the activity level of purchasing managers in the private sector across various industries, including manufacturing and services. The data is collected through surveys conducted by IHS Markit, a leading provider of global market and economic information.

A PMI reading above 50 indicates expansion in the surveyed business sector, while a reading below 50 signifies contraction. The index is widely regarded as a reliable barometer of global economic health, as it offers a timely and accurate assessment of business conditions and purchasing trends. Investors, policymakers, and analysts closely monitor this event to gauge the overall strength of the economy and predict future growth patterns.

The Service PMI release is published monthly by Markit Economics. The data are based on surveys of over 400 executives in private sector service companies. The surveys cover transport and communication, financial intermediaries, business and personal services, computing & IT, hotels and restaurants. 

An index level of 50 denotes no change since the previous month, while a level above 50 signals an improvement, and below 50 indicates a deterioration. 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.

New Home Sales measures the change in percenatge of the new home sales, A new home sale is considered to be any deposit or contract signing either in the year the house was built or the year after it was built. A strong number would indicate a strong housing activity, and therefore a strong economy. A higher than expected number should be taken as positive to the USD, while a lower than expected number as negative

New Home Sales measures the annualized number of new single-family homes that were sold during the previous month. This report tends to have more impact when it's released ahead of Existing Home Sales because the reports are tightly correlated.

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 Richmond Manufacturing Index rates the relative level of business conditions including shipments, new orders, and employment. A level above zero on the index indicates improving conditions; below indicates worsening conditions. The data is compiled from a survey of about 100 manufacturers in the Richmond area.

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 Survey of Fifth District Manufacturing Activity - Business activity index. All firms surveyed are located within the Fifth Federal Reserve District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and Most of West Virginia. Each index equals the precentage reporting increase minus the percentage reporting decrease.

The Survey of Fifth District Manufacturing Activity - Business activity index. All firms surveyed are located within the Fifth Federal Reserve District, which includes the District of Columbia, Maryland, North Carolina, South Carolina, Virginia, and Most of West Virginia. Each index equals the precentage reporting increase minus the percentage reporting decrease.

The Monetary Policy Review is published twice a year and is aimed at broadening public understanding of the objectives and conduct of monetary policy. The Monetary Policy Review covers domestic and international developments that impact on the monetary policy stance. It takes a forward-looking approach, in contrast to the Quarterly Bulletin which records and explains recent economic developments. The Monetary Policy Review is presented by senior officials of the SARB at monetary policy forums in various centres across South Africa in an effort to develop a better understanding of monetary policy through direct interactions with stakeholders.

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 Instituto Nacional de Estadística y Censos (INDEC) Economy Activity Index provides an early estimate for real gross domestic (GDP) performance in Argentina.

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

Non-financial public sector (National administration, state-owned companies and former provincial pension funds). Cash basis.

The American Petroleum Institute reports inventory levels of US crude oil, gasoline and distillates stocks. The figure shows how much oil and product is available in storage.The indicator gives an overview of US petroleum demand.

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

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

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 KRW, while a lower than expected reading should be taken as negative/bearish for the KRW.

The exports number provides the total NZ dollar amount of merchandise exports.

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

The Imports number measures any good or service brought into one country from another country in a legitimate fashion, typically for use in trade. Import goods or services are provided to domestic consumers by foreign producers.

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

The Trade Balance measures the difference in value between imported and exported goods and services over the reported period. A positive number indicates that more goods and services were exported than imported.

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

The Trade Balance measures the difference in value between imported and exported goods and services over the reported period. A positive number indicates that more goods and services were exported than imported.

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

The Corporate Services Price Index (CSPI) measures the change in the price of goods sold by corporations. It is a leading indicator of consumer price inflation.

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

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 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.

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

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 Weighted mean is calculated using the quarterly price changes of all CPI components, with the annual rates based on compounded quarterly calculations.

The Trimmed Mean Consumer Price Index (CPI) measures the change in the price of goods and services purchased by consumers, excluding the most volatile 30% of items. This data helps illustrate underlying trends.

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

Monthly CPI Indicator measures monthly changes in the price of a 'basket' of goods and services which account for a high proportion of expenditure by the CPI population group (i.e. metropolitan households).

The Weighted mean is calculated using the quarterly price changes of all CPI components, with the annual rates based on compounded quarterly calculations.

The Weighted mean is calculated using the quarterly price changes of all CPI components, with the annual rates based on compounded quarterly calculations.

Export price index is a measure of the average prices of a group of the goods that a country exports. The headline is the percentage change in the index from the previous month or year. It is generally preferable when the index is based on prices taken directly from the exporter. However, in the absence of national sources, data for wholesale prices are taken from world commodity markets and are converted into national currency at period average exchange rates. Changes in this figure represent either a change in the amount of sold goods or in the prices of the goods which might be caused by changing production costs. Export price index serves is an indicator of the economy's total demand for goods and services. Therefore it directly influences GDP.

Import price index is a measure of the average prices of the goods that a country imports. The headline is the percentage change in the index from the previous month or year. It is generally preferable when the index is based on prices taken directly from the importer. However, in the absence of national sources, data for wholesale prices are taken from world commodity markets and are converted into national currency at period average exchange rates. Changes in this figure represent either a changing foreign demand or a change in prices of foreign goods. Significant changes in foreign goods prices might affect inflation. Increasing index causes higher retail prices in the country. Import price index is an indicator of the economy's total supply of goods and services.

The Producer Price Index (PPI) is designed to monitor changes in prices of items at the first important commercial transactions. The PPI shows the same general pattern of inflation as does Consumer price index, but is more volatile. This is because it is weighted more heavily towards goods that are traded in highly competitive markets and somewhat less sensitive to changes in the cost of labour.The PPI is worth watching as a leading indicator of inflation at the consumer level. 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 definition for an unemployed person is: Persons (16-65 years) who were available for work (except for temporary illness) but did not work during the survey week, and who made specific efforts to find a job within the previous 4 weeks by going to an employment agency, by applying directly to an employer, by answering a job ad, or being on a union or professional register.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. A higher than expected reading should be taken as negative/bearish for the EUR , while a lower than expected reading should be taken as positive/bullish for the EUR.

The definition for an unemployed person is: Persons (16-65 years) who were available for work (except for temporary illness) but did not work during the survey week, and who made specific efforts to find a job within the previous 4 weeks by going to an employment agency, by applying directly to an employer, by answering a job ad, or being on a union or professional register. The percentage number is calculated unemployed / (employed + unemployed). A higher than expected reading should be taken as negative/bearish for the SEK , while a lower than expected reading should be taken as positive/bullish for the SEK.

Wages and salaries are defined as "the total remuneration, in cash or in kind, payable to all persons counted on the payroll (including homeworkers), in returnfor work done during the accounting period" regardless of whether it is paid on the basis of working time, output or piecework and whether it is paid regularly or not.Y/Y - percentage change over corresponding period of the previous year. Gross monthly average earnings of full-time employees in the national economy.

The Deposit Facility Rate is a key monetary policy tool used by the central bank of Indonesia, Bank Indonesia, to control the money supply in the economy. This economic calendar event involves the announcement of the interest rate paid by the central bank to commercial banks for their overnight deposits.

Commercial banks deposit their excess reserves with Bank Indonesia, and they are compensated with an interest known as the Deposit Facility Rate. When the rate is adjusted higher, it incentivizes banks to place more of their excess reserves with the central bank, thus reducing the amount of money available in the economy. Conversely, when the rate is lowered, it discourages banks from depositing excess funds and encourages them to lend more, which stimulates economic activity.

Market participants closely monitor changes in the Deposit Facility Rate since the interest rate decisions can significantly impact the Indonesian Rupiah's exchange rate, inflation, and overall economic growth. Changes in the deposit facility rate can also influence the direction of other short-term interest rates in the country, which then impacts borrowing costs for both businesses and consumers.

The Lending Facility Rate event is an important economic calendar indicator in Indonesia that reflects the central bank's policy rate. The rate is set by the Bank of Indonesia and effectively represents the interest rate charged to commercial banks for borrowing funds from the central bank.

Decisions on the lending facility rate are determined after a careful analysis of various factors, including inflation, overall economic growth, and global market conditions. Financial institutions, investors, and businesses closely monitor this rate, as changes can significantly impact the economy.

A higher lending facility rate can lead to increased borrowing costs for commercial banks, which, in turn, can reduce the availability of credit for businesses and consumers, slowing down economic growth. Conversely, a lower rate can stimulate economic activity by making borrowing less expensive, thereby encouraging investment and spending.

The terms of a standardized loan are formally presented (usually in writing) to each party in the transaction before any money or property changes hands. If a lender requires any collateral, this will be stipulated in the loan documents as well. Most loans also have legal stipulations regarding the maximum amount of interest that can be charged, as well as other covenants such as the length of time before repayment is required. Loans can come from individuals, corporations, financial institutions and governments. They are a way to grow the overall money supply in an economy as well as open up competition, introduce new products and expand business operations. Loans are a primary source of revenue for many financial institutions such as banks, as well as some retailers through the use of credit facilities.

Capacity utilization is a concept in economics and managerial accounting which refers to the extent to which an enterprise or a nation actually uses its installed productive capacity. Thus, it refers to the relationship between actual output that 'is' actually produced with the installed equipment, and the potential output which 'could' be produced with it, if capacity was fully used. A rull of thumb is, when capacity utilization is stable above 80%, in most cases rates will start going up. A higher than expected number should be taken as positive to the TRY while a lower than expected number as negative

Confidence indicator is a measure of the mood of consumers or businesses. It is usually based on a survey during which respondents rate their opinion on different issues concerning current and future conditions. There are many kinds of confidence indicators as institutions measuring them use different questions,sizes of samples or frequency of publications. Consumers opinions are typically expressed with answers like: better, same,worse or positive, negative and unchanged. Results of such surveys are calculated by subtracting the negative replies from the positive ones. Business confidence indicator is closely linked to corporate spending and correlated with employment, consumption and investment. Therefore it is carefully watched as an indication of possible changes in the overall economic growth. A higher than expected reading should be taken as positive/bullish for the TRY , while a lower than expected reading should be taken as negative/bearish for the TRY.