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Today’s Economic Calendar is Chock-A-Block with Data

Today’s Economic Calendar is Chock-A-Block with Data

July 28th, 2016

Global market participants will find themselves knee-deep in economic reports today. The day began on an optimistic note with all the data points released until now showing an upward movement. It all started with the UK as the nation’s house price index data surpassed expectations in July. Post that, the German unemployment rate continued to stay at an all-time low in July as the number of jobless people fell for the tenth straight month. Further ahead, the European Commission will publish the July figures for the Eurozone’s business climate and consumer confidence indices data. Later in the day, Germany’s preliminary consumer price index (CPI) for July is scheduled for release. Across the Atlantic, investors will witness the US weekly jobless claims, advance goods trade balance and the Kansas Fed manufacturing activity index data.

Daily Currency News

  • The Fed and BoJ Will Command Attention This Week
    July 25th, 2016

    The Fed and BoJ Will Command Attention This Week

    The Federal Open Market Committee (FOMC) and the Bank of Japan (BoJ) will take centre stage this week, as both the central banks are scheduled to hold their monetary policy meetings. While the US Fed is expected to maintain status quo, the BoJ is anticipated to introduce additional stimulus measures. Although the US witnessed a series of positive data points last week in the form of nonfarm payrolls, retail sales and CPI, the nation’s inflation is still far away from the Fed’s target rate. As a result, the Fed seems hesitant to introduce an upward move at this meeting. On the other hand, given the sluggish growth in Japan, a stimulus announcement is widely expected from the BoJ this week. Today the German Ifo survey data for July came in better than expected. In the UK, the CBI industrial trends orders data for July will be released. In the US, the Dallas Fed manufacturing index will be eyed.

  • First Set of Post-Brexit Economic Data Released Today
    July 22nd, 2016

    First Set of Post-Brexit Economic Data Released Today

    Today, market participants finally got some post-Brexit referendum economic data to reflect on. The Eurozone’s preliminary composite PMI dipped to over a one-year low level in July. On the other hand, German private sector growth registered its highest level so far this year, brushing off Brexit concerns. In the UK, the just out data showed that Britain’s manufacturing and services sectors sharply contracted in July for the first time in at least three years. Across the Atlantic, the US manufacturing PMI will be out later in the day. During the weekend, the G-20 finance ministers and central bank governors will meet in Chengdu, China, to discuss the deteriorating global outlook after Britain’s decision to leave the European Union (EU).

  • All Eyes on the ECB’s Interest Rate Decision Today
    July 21st, 2016

    All Eyes on the ECB’s Interest Rate Decision Today

    It is the European Central Bank’s (ECB) interest rate day today. The ECB will hold its first monetary policy meeting post Brexit, followed by a press conference which will be presided by the ECB Chief, Mario Draghi. The central bank is widely expected to hold the benchmark interest rate steady, but markets will closely watch the ECB President’s comments about the impact of Brexit on the Eurozone economy. Across the English Channel, the just released data showed that UK’s retail sales dropped in June. On the political front, Britain’s Prime Minister (PM) Theresa May will meet the French President, Francois Hollande, in Paris to discuss Britain’s plans to leave the European Union (EU). After meeting her German counterpart, Angela Merkel, in Berlin yesterday, UK’s PM repeated that the nation will not trigger the two-year Article 50 process until at least the end of this year. In the US, weekly jobless claims and the Philadelphia manufacturing data is due.

  • UK unemployment rate surprisingly declines in May
    July 20th, 2016

    UK unemployment rate surprisingly declines in May

    Today is a busy day on the economic as well as political front across the globe. In the UK, the just released data showed that the nation’s jobless rate unexpectedly declined to a fresh eleven-year low during the three months ended May, while the claimant count increased less than expected in June. On the political side, the newly-appointed British Prime Minister, Theresa May, is set to hold talks with German Chancellor Angela Merkel today. Both are keen to minimise the economic fallout of Brexit. In the Eurozone, the flash consumer confidence data for July is awaited, while across the Atlantic the US weekly mortgage application data is the sole economic release for today. Separately, the International Monetary Fund (IMF) trimmed its global economic growth outlook for this year and the next, warning that Brexit has triggered a wave of uncertainty amid the already-fragile business and consumer confidence.

  • German economy in the spotlight today
    July 19th, 2016

    German economy in the spotlight today

    Germany’s economy will come under the focus lens today, with the ZEW economic survey numbers for July pegged for release. This will help corroborate the German Bundesbank’s viewpoint about the economy. The Eurozone economic sentiment index and construction output data are due for release today, along with the International Monetary Fund’s latest update on world economic outlook, which will definitely include an analysis of post-Brexit impact on the global economy. In the UK, the just out data showed that the nation’s consumer price index (CPI) rose more than expected on an annual basis in June. Across the Atlantic, after a busy Friday, the US economic calendar has calmed down a bit, with only the Tier 2 housing starts figures and building permits data scheduled for release today.

  • ECB Will be the Cynosure of All Eyes This Week
    July 18th, 2016

    ECB Will be the Cynosure of All Eyes This Week

    Today, the global economic calendar is relatively light, taking a breather after a whirlwind week which witnessed surprising political and economic developments from different parts of the world. In the UK, dramatic sequences outplayed last week. Firstly, the Bank of England (BoE) surprised markets by holding the benchmark interest rate steady, and on the political front Theresa May replaced David Cameron as British Prime Minister. The European Central Bank’s (ECB) interest rate decision stands out as the big event of this week. Today in the Eurozone, the German Bundesbank is scheduled to release its monthly report on the German economy. Meanwhile in the UK, the BoE policy maker, Martin Weale, indicated that he needs further evidence on the impact of Brexit to support additional stimulus at the central bank’s August meeting. Across the Atlantic, the NAHB housing market index for July is awaited.

  • Eurozone and US Consumer Prices Data Awaited
    July 15th, 2016

    Eurozone and US Consumer Prices Data Awaited

    Today is a busy day for the global economy, with several significant data points up for release. The US consumer price inflation and retail sales data, along with the University of Michigan’s consumer confidence survey, will be on traders’ radars. Investors will also look forward to the US industrial production data for further clues. The just published data revealed that UK’s construction output dropped more than expected in May, its fifth straight monthly fall. After the Bank of England’s (BoE) unexpected decision to leave the benchmark interest rate unchanged, Governor Mark Carney is expected to give a speech later in the day. The final print of Eurozone’s consumer price index and its foreign trade data are scheduled to be released in a short while.

  • Focus on The BoE’s Interest Rate Decision
    July 14th, 2016

    Focus on The BoE’s Interest Rate Decision

    Today, the Bank of England (BoE), in its first monetary policy meeting after the European Union (EU) membership referendum, is expected to cut the key interest rate for the first time in almost seven years, in order to prevent the economy from further deteriorating in the wake of UK’s surprise vote to leave the EU. The BoE Governor, Mark Carney, had earlier dropped hints of a possible rate cut. The minutes of the bank’s meeting will give a glimpse of the board members’ thoughts on UK’s current economic situation. The Eurozone economic calendar is devoid of any significant macroeconomic releases today. Across the Atlantic, weekly data on the number of Americans filing for unemployment benefits will be on traders’ radars. Also, a report on US producer price inflation will be on tab.

  • Focus On the Fed’s Beige Book
    July 13th, 2016

    Focus On the Fed’s Beige Book

    In economic releases, the Eurozone’s industrial production data is scheduled to release in a few hours. In the Eurozone, just out data indicated that the French consumer price index rose at a slower pace in June, while consumer prices in Spain advanced as estimated in June. Also, Italian consumer price index rose in June from May. Later today, Theresa May will be appointed as the UK’s new Prime Minister after David Cameron hands over his resignation. Today, the US Federal Reserve (Fed) will release its Beige Book describing the prevailing economic conditions in the nation. Fed officials Patrick Harker and Robert D. Kaplan are scheduled to speak later today while the US monthly budget for June is also on tab.

  • Speeches by BoE’s Carney and Fed Officials Awaited
    July 12th, 2016

    Speeches by BoE’s Carney and Fed Officials Awaited

    Today, the Governor of the Bank of England (BoE), Mark Carney, is expected to present the bank’s Inflation Report to Parliament and give a speech on the UK’s financial stability. A few hours later, the BoE will release its Quarterly Bulletin. Earlier in the session, a survey revealed that growth in UK’s retail sales slowed in June, mainly due to bad weather and uncertainty surrounding the EU Referendum. In the Eurozone, data confirmed that growth in consumer prices in Germany picked up pace in June. In the US, Federal Reserve (Fed) officials James Bullard, Daniel K. Tarullo, Neel Kashkari and Loretta Mester are scheduled to speak later in the day. On the economic front, data on US wholesale inventories and job openings are due today.

  • Light Economic Calendar Ahead
    July 11th, 2016

    Light Economic Calendar Ahead

    With no major economic releases scheduled for today, traders will focus on a report on US labour market conditions for June. In the Eurozone, just released data indicates that Italy industrial production fell surprisingly in May. Meanwhile, business sentiment in France remained stable for June. Later this week, the Bank of England (BoE), in its first monetary policy meeting after the UK voted to leave the European Union, is expected to cut its benchmark interest rate to a new historic low. The central bank Governor, Mark Carney, had hinted of monetary policy easing in the summer. Meanwhile, the Eurozone and German consumer price inflation data for June will attract market attention. In the US, the consumer price inflation and retail sales data due towards the second half of the week will offer insights into the nation’s economic situation.

  • Markets Eyeing US Nonfarm Payrolls Report
    July 08th, 2016

    Markets Eyeing US Nonfarm Payrolls Report

    Today, market participants brace themselves for the much-awaited report of this week, the US nonfarm payrolls report for June, also known as the barometer of US economic health, which is expected to create massive volatility across global financial markets. The report garners a lot of significance particularly after posting dismal figures in the previous month. In the UK, the just released data showed that trade deficit widened in May. Meanwhile, in the Eurozone, German exports plummeted in May, which in turn narrowed the nation’s trade surplus figure. Also, French industrial output declined in May.

  • ECB’s June Monetary Policy Meeting Minutes Awaited
    July 07th, 2016

    ECB’s June Monetary Policy Meeting Minutes Awaited

    Today is a busy day for the global economy, with several significant data points up for release. The rush of numbers kick-started from the Eurozone, but unfortunately did not start on a pleasant note as Germany’s industrial production declined in May. Further ahead in the session, market participants await the release of European Central Bank’s (ECB) June monetary policy meeting minutes. Nevertheless, Britain managed to bring back lost joy after the nation’s industrial and manufacturing production data came in better than expected in May. Next up, UK’s monthly GDP estimate from the National Institute of Economic and Social Research (NIESR) will shed more light on how Britain’s economy was performing as the Brexit vote arrived. In the US, weekly jobless claims and the ADP employment change data is up for release today.

  • Draghi’s Speech and Fed Minutes in the Spotlight
    July 06th, 2016

    Draghi’s Speech and Fed Minutes in the Spotlight

    Market participants are on high alert ahead of the European Central Bank (ECB) President Mario Draghi’s speech, which will be followed later today by the release of US Federal Reserve’s (Fed) June monetary policy meeting minutes. Both these events will thrust the divergent monetary policy outlook projected by these central banks back into the spotlight. While it remains to be seen whether the ECB Chief drops any further hints of additional easing, the Fed minutes will bear witness to how concerned the policymakers were about US employment and Brexit. Data-wise, UK is devoid of any significant data releases today. In the Eurozone, data out earlier today showed that German factory orders registered a flat reading in May. Across the Atlantic, the US trade balance and ISM services PMI report will be closely eyed.

  • All Eyes on the BoE Chief’s Response to Brexit
    July 05th, 2016

    All Eyes on the BoE Chief’s Response to Brexit

    Today, the Bank of England (BoE) Governor’s speech will command maximum market attention. The BoE Chief, Mark Carney, who has been under intense pressure prior to as well as post the Brexit decision, is expected to elaborate on the central bank’s future plans after today’s release of the bi-annual financial stability report. Prior to the result, the Governor had come under fire for his one-sided intervention in the referendum campaign. However, post the shock Brexit vote, the BoE Chief managed to silence all his detractors and played an extremely pivotal role in assuaging the berserk markets. In the UK, the just released data showed that services PMI fell more than expected in June. Meanwhile, the final services sector activity in the Eurozone came in better than the flash estimate. Later today the US will witness the release of durable goods orders data for May.

  • Global Financial Markets on the Road to Recovery
    July 04th, 2016

    Global Financial Markets on the Road to Recovery

    It’s been over a week since the historic referendum which saw Britain vote to exit the European Union after forty years of membership. The surprising decision threw the global financial markets out of gear and the aftertaste still lingers. But slowly the dust has begun to settle and markets across the globe have started to limp back to normalcy. At the same time, political leaders and central bankers on both sides of the English Channel are taking turns to calm down the roiled markets and prepare market participants to adapt to this radical new landscape. A couple of data points saw the light early today. The UK’s construction PMI declined at its fastest pace since 2009 in June, while the Eurozone’s Sentix investor confidence index sharply deteriorated in July. Next up for release is the region’s producer price index data for May. The US markets remain closed for the Independence Day holiday today.

  • US factory activity data in focus
    July 01st, 2016

    US factory activity data in focus

    The global economic calendar heats up today, ending the week with a slew of key indicators. The just out data showed that UK’s factory activity advanced more than expected in June. The Eurozone just witnessed the release of several optimistic data points, as the region’s manufacturing sector activity rose above expectations in June. Moreover, factory activity in Germany, the Eurozone’s largest economy, advanced to a 28-month high level in June. Going ahead, market participants look forward to the release of the Eurozone’s unemployment rate data. Later in the day investor attention will shift across the Atlantic, as the US manufacturing PMI data for June and construction spending for May is on the cards.

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