Fed Williams Speech

In the United States, the authority to set interest rates is divided between the Board of Governors of the Federal Reserve (Board) and the Federal Open Market Committee (FOMC). The Board decides on changes in discount rates after recommendations submitted by one or more of the regional Federal Reserve Banks. The FOMC decides on open market operations, including the desired levels of central bank money or the desired federal funds market rate.

Monetary Policy Meeting Minutes

In Poland interest rates decisions are taken by the National Bank of Poland (Narodowy Bank Polski, NBP). The official interest rate is the Reference Rate.

Wholesale Inventories MoM

The Wholesale Inventories are the stock of unsold goods held by wholesalers. Inventories are a key component of gross domestic product changes. A high inventory points to economic slowdown in the US, while a low reading points to a stronger growth.

Current Account

58200000000

Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).

Unemployment Rate

5.1%

In Canada, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

Part Time Employment Chg

In Canada, part-time employment consists of persons who usually work less than 30 hours per week at their main or only job.

Full Time Employment Chg

In Canada, full-time employment consists of persons who usually work 30 hours or more per week at their main or only job.

Participation Rate

65.3%

The labour force participation rates is the number of persons who are employed and unemployed but looking for a job divided by the total working-age population.

Employment Change

39800

In Canada, employment change refers to the change in the number of persons who work for pay or profit, or perform unpaid family work. Estimates include both full-time and part-time employment.

Average Hourly Wages YoY

Average Hourly Wages of Permanent Employees in Canada refers to the usual wages or salary of permanent employees at their main job. Respondents are asked to report their wage/salary before taxes and other deductions, and include tips and commissions. Weekly and hourly wages/salary are calculated in conjunction with usual paid work hours per week.

Non Farm Payrolls

390000

Nonfarm payrolls is an employment report released monthly, usually on the first Friday of every month, and heavily affects the US dollar, the bond market and the stock market. Current Employment Statistics (CES) program from the U.S. Department of Labor Bureau of Labor Statistics, surveys about 141,000 businesses and government agencies, representing approximately 486,000 individual work sites, in order to provide detailed industry data on employment, hours, and earnings of workers on nonfarm payrolls.

Unemployment Rate

3.6%

In the United States, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

Average Hourly Earnings MoM

0.3%

In the United States, Average Hourly Earnings is the average amount employees make per hour in a given month. The Federal Reserve uses average hourly earnings in deciding whether to raise or lower interest rates.

Participation Rate

62.3%

The civilian labor force participation rate is the number of employed and unemployed but looking for a job as a percentage of the population aged 16 years and over.

Average Hourly Earnings YoY

5.2%

In the United States, Average Hourly Earnings is the average amount employees make per hour in a given month. The Federal Reserve uses average hourly earnings in deciding whether to raise or lower interest rates.

Nonfarm Payrolls Private

333000

Private Nonfarm Payrolls measures the change in the number of total payrolls in any business, excluding general government employees, private household employees, employees of nonprofit organizations that provide assistance to individuals and farm employees.

Average Weekly Hours

34.6

Average weekly hours are the total weekly hours divided by the employees paid for those hours. Unpaid absenteeism, labor turnover, part-time work, and stoppages cause average weekly hours to be lower than scheduled hours of work for an establishment.

Manufacturing Payrolls

18000

Manufacturing Payrolls reports the absolute change in the number of employees working in the Manufacturing sector in the United States.

Government Payrolls

57000

Government Payrolls reports the absolute change in the number of employees working in the Government sector in the United States. It includes Federal, State and Local governments.

Inflation Rate MoM

0.47%

Inflation Rate MoM measures month over month change in the price of goods and services.

Inflation Rate YoY

11.73%

In Brazil, the inflation rate measures a broad rise or fall in prices that consumers pay for a standard basket of goods. The most important categories of the index are: Transport (20 percent); Food and beverages (19 percent of the total weight) ; housing (15 percent); health care (13 percent); and personal expenses (11 percent). Also, Communication accounts for 4 percent; education for 6 percent; clothing for 5 percent; household goods for 4 percent. Data is collected in the Metropolitan Areas of São Paulo, Rio de Janeiro, Belo Horizonte, Porto Alegre, Belém, Fortaleza, Recife, Salvador and Curitiba and in the cities of Goiânia and Brasília.

ECB Lagarde Speech

In the Euro Area, benchmark interest rate is set by the Governing Council of the European Central Bank. The primary objective of the ECB’s monetary policy is to maintain price stability which is to keep inflation below, but close to 2 percent over the medium term. In times of prolonged low inflation and low interest rates, ECB may also adopt non-standard monetary policy measures, such as asset purchase programmes. The official interest rate is the Main refinancing operations rate.

Foreign Exchange Reserves

In India, 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.

Inflation Rate MoM

0.18%

Inflation Rate MoM measures month over month change in the price of goods and services.

Inflation Rate YoY

7.65%

In Mexico, the most important categories in the CPI basket are Nonfood Goods (19.7 percent of the total weight); Housing (18.7 percent) and Other Services (18.4 percent). Food, Beverages and Tobacco account for 14.8 percent and Energy for 9.5 percent. Others include: Products subsidized by the government (5.3 percent); Education (5.1 percent); Meat and Eggs (4.8 percent) and Fruits and Vegetables (3.7 percent). The CPI index has a base of 100 as of December of 2010. The national index tracks 46 large, medium and small cities.

Core Inflation Rate YoY

7.28%

In Mexico, the core inflation rate tracks changes in prices that consumers pay for a basket of goods which excludes some volatile price items.

Core Inflation Rate MoM

0.59%

In Mexico, the core consumer price index tracks changes in prices that consumers pay for a basket of goods which excludes some volatile price items.

Consumer Confidence

-21

In Russia, the Consumer Confidence Overall Index is based on a survey of 5,000 people aged 16+ leaving in all regions of the country. The index is an arithmetical average of 5 indices: the change in the respondent's personal financial situation over the last 12 months and next 12 months, the change in the country's economic situation over the last year and in the next 12 months, and the current climate for durable goods purchase. The index shows the difference between the percentage share of persons that are optimistic and the percentage of persons that are pessimistic. It takes a value between -100 (all respondents asses their situation as poor and expect it to become worse) and 100 (all participants are satisfied with the current situation and expect it to improve); 0 indicates neutrality.

Inflation Rate MoM

0.9%

Inflation Rate MoM measures month over month change in the price of goods and services.

Harmonised Inflation Rate MoM

1.1%

Harmonised Inflation Rate YoY

8.3%

The Harmonised Index of Consumer Prices (HICP) is an indicator of inflation and price stability for the European Central Bank (ECB). The HICP is compiled by Eurostat and the national statistical institutes in accordance with harmonised statistical methods. The ECB aims to maintain annual inflation rates as measured by the HICP below, but close to, 2% over the medium term.

Inflation Rate YoY

In Ireland, the most important categories in the consumer price index are: housing, water, electricity, gas and other fuels (17 percent of total weight); transport (15 percent); restaurants and hotels (14 percent) and food and non-alcoholic beverages (11 percent). The index also includes: recreation and culture (8 percent); clothing and footwear (5 percent); alcoholic beverages and tobacco (5 percent); health (5 percent) and communications (4 percent). Furnishings, household equipment, education and other goods and services account for the remaining 16 percent.

Balance of Trade

-2445000000

In 2017, the Portuguese trade deficit widened sharply by 23.4 percent from the previous year to EUR 13.8 billion, the largest trade gap since 2011. Imports rose by 12.5 percent, the most since 2010, while exports increased at a slower 10.1 percent, the biggest gain since 2011. The largest trade deficits were recorded with Spain, Germany, Italy, the Netherlands, Russia and China, while the biggest trade surpluses were recorded with the United States, the United Kingdom and France.

Vehicle Sales YoY

-83.5%

In Russia, Total Vehicle Sales refer to total registrations of car and light commercial vehicles.

Industrial Production YoY

-4.5%

In Greece, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities.

Harmonised Inflation Rate YoY

10.5%

The Harmonised Index of Consumer Prices (HICP) is an indicator of inflation and price stability for the European Central Bank (ECB). The HICP is compiled by Eurostat and the national statistical institutes in accordance with harmonised statistical methods. The ECB aims to maintain annual inflation rates as measured by the HICP below, but close to, 2% over the medium term.

Inflation Rate YoY

11.3%

In Greece, the most important categories in the consumer price index are: food and non-alcoholic beverages (17 percent of total weight); transport (13 percent); housing (12 percent) and hotels, cafés and restaurants (11 percent). The index also includes: clothing and footwear (9 percent); health (7 percent); furnishing and household equipment (7 percent); recreation and culture (5 percent); communication (5 percent). Education, alcoholic beverages, tobacco and other goods and services account for the remaining 14 percent of total weight.

Balance of Trade

-2700000000

Greece reports regular trade deficits due to high volume of imports. Main imports are mineral fuels, machinery and transport equipment and chemicals. In recent years, the biggest trade deficits were recorded with Russia, Germany, China, Italy and France. Greece records trade surpluses with Turkey, Cyprus, United States, Algeria and United Arab Emirates.

Inflation Rate MoM

0.7%

In Greece, the most important categories in the consumer price index are: food and non-alcoholic beverages (17 percent of total weight); transport (13 percent); housing (12 percent) and hotels, cafés and restaurants (11 percent). The index also includes: clothing and footwear (9 percent); health (7 percent); furnishing and household equipment (7 percent); recreation and culture (5 percent); communication (5 percent). Education, alcoholic beverages, tobacco and other goods and services account for the remaining 14 percent of total weight.

Budget Balance

-101000000000

The government budget balance is the difference between government revenues and expenses. The budget is balanced when outlays equal to receipts, the country reports budget surplus when revenues are higher than expenses and deficit when expenses exceed the revenues.

Foreign Exchange Reserves

167170000000

In Czech Republic, 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.

Industrial Production MoM

1.6%

In Italy, industrial production measures the output of businesses integrated in industrial sector of the economy. Manufacturing is the most important sector and accounts for 88 percent of total production. The biggest segments within Manufacturing are: Metallurgy and fabricated metal products (14 percent of total production); machinery and equipment (12 percent); food, drink and tobacco (10 percent); rubber and plastics products and non-metallic mineral products (9 percent); textile, clothing and leather (8 percent); transport equipment (7 percent); and other manufacturing, repair and installation of machinery and equipment (7 percent). Electricity, gas, steam and air conditioning account for 10 percent of total output and Mining and quarrying account for 1 percent.

Industrial Production YoY

4.2%

In Italy, industrial production measures the output of businesses integrated in industrial sector of the economy. Manufacturing is the most important sector and accounts for 88 percent of total production. The biggest segments within Manufacturing are: Metallurgy and fabricated metal products (14 percent of total production); machinery and equipment (12 percent); food, drink and tobacco (10 percent); rubber and plastics products and non-metallic mineral products (9 percent); textile, clothing and leather (8 percent); transport equipment (7 percent); and other manufacturing, repair and installation of machinery and equipment (7 percent). Electricity, gas, steam and air conditioning account for 10 percent of total output and Mining and quarrying account for 1 percent.

Industrial Production YoY

9.1%

In Austria, industrial production measures the output of businesses integrated in industrial sector of the economy. Manufacturing is the most important sector (69 percent of total production) including: machinery and equipment (9 percent); basic metals (6 percent); food products (6 percent); motor vehicles, trailers and semi-trailers (6 percent); fabricated metal products, except machinery and equipment (6 percent); and electrical equipment (5 percent). Electricity, gas, steam and air conditioning supply account for 15 percent of total output followed by construction (13 percent), water supply, sewerage and waste management (2 percent) and mining and quarrying (1 percent).

Core Inflation Rate YoY

12.2%

In Hungary, the core inflation rate tracks changes in prices that consumers pay for a basket of goods which excludes some volatile price items.

Inflation Rate YoY

In Hungary, the most important category in the consumer price index is Food and Non-Alcoholic Beverages (21.3 percent of total weight). Transport accounts for 16.2 percent; Housing and Utilities for 13.2 percent; Alcoholic beverages and Tobacco for 8.3 percent; Recreation and Culture for 7.7 percent and Miscellaneous Goods and Services for 7.3 percent. Restaurants and Hotels; Health; Furniture, Household Goods and Maintenance; Communication; Clothing and Footwear and Education account for the remaining 26 percent of total weight.

Inflation Rate MoM

1.7%

Inflation Rate MoM measures month over month change in the price of goods and services.

Current Account

-2740000000

Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).

Balance of Trade

86600000000

The Norwegian trade balance has been in surplus since 1989. In 2019, the trade surplus narrowed sharply by 48.3 percent from the previous year to NOK 148 billion amid global trade tensions and weak external demand. The biggest trade surpluses were recorded with the UK, the Netherlands, Germany, France, Belgium, Spain, Iceland, Portugal, Singapore and Ireland; and the largest deficits were recorded with China, the US, Sweden, Russia, Italy, Canada, Brazil, Poland, Czech Republic and Switzerland.

GDP Growth Rate QoQ Final

1%

Romania is an upper-middle income economy and has been part of the European Union since 2007. The main industries in Romania are: electric machinery and equipment, textiles and footwear, light machinery and auto assembly, software, mining, timber, construction materials, metallurgy, chemicals, food processing and petroleum refining. On the expenditure side, household consumption is the main component of GDP and accounts for 63 percent of its total use, followed by gross fixed capital formation (22 percent) and government expenditure (14 percent). Exports of goods and services account for 41 percent of GDP and imports account for 41 percent.

GDP Growth Rate YoY Final

2.4%

On the expenditure side, household consumption is the main component of GDP and accounts for 63 percent of its total use, followed by gross fixed capital formation (22 percent) and government expenditure (14 percent). Exports of goods and services account for 41 percent of GDP and imports account for 41 percent.

Industrial Production YoY

7.3%

In Finland, industrial production measures the output of businesses integrated in industrial sector of the economy. Manufacturing is the most important sector and accounts for 87 percent of total production. The biggest segments within Manufacturing are: chemicals (16 percent); electrical and electronics (13 percent); machinery and equipment (11 percent); paper and paper products (9 percent); fabricated metal products (8 percent); and food products (7 percent). Electricity, gas, steam and air conditioning supply accounts for 11 percent of total output; and Mining and quarrying account for 2 percent.

Eco Watchers Survey Current

54

The Economy Watchers Current Index measures the current mood of businesses that directly service consumers, such as barbers, taxi drivers, and waiters. The survey covers eleven regions across the country including Hokkaido, Tohoku, Northern Kanto, Southern Kanto, Tokai, Hokuriku, Kinki, Chugoku, Shikoku, Kyushu, and Okinawa. There were 2,050 people selected among those engaged in jobs in industries. This enabled them to observe any developments that accurately reflect economic activities such as household activity, corporate activity, and employment. A reading above 50.0 indicates optimism; below indicates pessimism.

Eco Watchers Survey Outlook

52.5

The Economy Watchers Survey Outlook measures the expected mood of businesses that directly service consumers, such as barbers, taxi drivers, and waiters. The survey covers eleven regions across the country including Hokkaido, Tohoku, Northern Kanto, Southern Kanto, Tokai, Hokuriku, Kinki, Chugoku, Shikoku, Kyushu, and Okinawa. There were 2,050 people selected among those engaged in jobs in industries. This enabled them to observe any developments that accurately reflect economic activities such as household activity, corporate activity, and employment. A reading above 50.0 indicates optimism; below indicates pessimism.

Manufacturing Production YoY

13.7%

In the Netherlands, the biggest segments within Manufacturing are: refineries and chemistry (23 percent of total production); electronics, machinery (22 percent); food and beverages (20 percent); basic metals and products (12 percent); transport equipment (5 percent); paper and printing (5 percent); wooden and building material (4 percent); and textile, leather products (2 percent).

Consumer Confidence

128.9

In Indonesia, the Consumer Confidence Index (CCI) measures consumer’s expectations about current income and job availability against those 6 months ago, appropriate time to buy durable goods, and general economic conditions and job availability expectations in the next 6 months. The index is based on a survey of around 4600 middle up class households in major cities (those cities cover about 78 percent of GDP). Data is collected through phone interviews and direct visits. The two main components of the Index are the current economic condition index and the consumer expectation index. The CCI is computed as a net balance obtained from the difference between percentage on ’increase’ answer and percentage on ’decrease’ answer. An index above 100 indicates an improving outlook and below 100 a deteriorating outlook.

3-Month Bill Auction

-0.1339%

G20 Foreign Ministers Meeting

OECD Global Forum on Productivity

OECD Global Forum on Productivity

Eid Al-Adha

Current Account

Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).

Bank Lending YoY

In Japan, bank lending refers to the year-on-year change of all outstanding loans and discounts with banks and shinkin banks. Lending increases with increased business confidence and investment and it is an important indicator for the Japanese economy because of the weakness that has plagued the Japanese banking sector.

Household Spending YoY

In Japan, Household Spending YoY refers to the annual change of consumption expenditures (on food, housing, utilities, furniture, clothing, health, education, transport, communication, leisure activities, etc.) in real terms for two-or-more-person households including agricultural, forestry and fisheries households.

Household Spending MoM

In Japan, Household Spending MoM refers to the monthly change of consumption expenditures (on food, housing, utilities, furniture, clothing, health, education, transport, communication, leisure activities, etc.) in real terms for two-or-more-person households including agricultural, forestry and fisheries households.

Fed Waller Speech

In the United States, the authority to set interest rates is divided between the Board of Governors of the Federal Reserve (Board) and the Federal Open Market Committee (FOMC). The Board decides on changes in discount rates after recommendations submitted by one or more of the regional Federal Reserve Banks. The FOMC decides on open market operations, including the desired levels of central bank money or the desired federal funds market rate.

Fed Bullard Speech

In the United States, the authority to set interest rates is divided between the Board of Governors of the Federal Reserve (Board) and the Federal Open Market Committee (FOMC). The Board decides on changes in discount rates after recommendations submitted by one or more of the regional Federal Reserve Banks. The FOMC decides on open market operations, including the desired levels of central bank money or the desired federal funds market rate.

10-Year Bond Auction

3.259%

Generally, a government bond is issued by a national government and is denominated in the country`s own currency. Bonds issued by national governments in foreign currencies are normally referred to as sovereign bonds. The yield required by investors to loan funds to governments reflects inflation expectations and the likelihood that the debt will be repaid.

Inflation Rate MoM

0.1%

Inflation Rate MoM measures month over month change in the price of goods and services.

Inflation Rate YoY

17.1%

In Russia, the most important categories in the consumer price index are food and non-alcoholic beverages (30 percent of the total weight) and transport (14 percent). The index also includes: clothing and footwear (11 percent); housing, water, electricity, gas and other fuels (11 percent); recreation and cultural activities (6 percent), alcoholic beverages and tobacco products (6 percent) and household appliances (6 percent). Health, communication, education, hotels, restaurants and other goods and services account for the remaining 16 percent of total weight.