EIA Crude Oil Stocks Change

Stocks of crude oil refer to the weekly change of the crude oil supply situation.

EIA Gasoline Stocks Change

Stocks of gasoline refers to the weekly change of the gasoline supply situation.

EIA Refinery Crude Runs Change

Crude Runs refer to the volume of crude oil consumed by refineries.

EIA Distillate Stocks Change

EIA Heating Oil Stocks Change

EIA Gasoline Production Change

EIA Crude Oil Imports Change

EIA Cushing Crude Oil Stocks Change

Change in the number of barrels of crude oil held in storage at the Cushing, Oklahoma during the past week.

EIA Distillate Fuel Production Change

Fed Chair Powell Testimony

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.

BoC Interest Rate Decision

4.5%

In Canada, benchmark interest rate is set by the Bank of Canada's (BoC) Governing Council. The official interest rate is the Overnight Rate. Since 1996 the Bank Rate is set at the upper limit of an operating band for the money market overnight rate. Previously, from March 1980 until February 1996 the Bank Rate was set at 25 basis points above the weekly average tender rate for 3-month Treasury bills.

Interest Rate Decision

6.75%

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.

JOLTs Job Openings

11012000

In the United States, job openings refer to all positions that are open (not filled) on the last business day of the month. Job openings are part of the Job Openings and Labor Turnover Survey (JOLTS). The survey collects data from around 16400 nonfarm establishments including retailers and manufacturers, as well as federal, state, and local government entities in the 50 states and the District of Columbia. The JOLTS assesses the unmet demand for labor in the U.S. labor market and gained attention in 2014 as favorite labor market indicator of Federal Reserve Chair Janet Yellen.

JOLTs Job Quits

4087000

In the United States, job quits are generally voluntary separations initiated by the employee. Therefore, the quits rate can serve as a measure of workers’ willingness or ability to leave jobs. The quits rate is computed by dividing the number of quits by employment and multiplying that quotient by 100.

Balance of Trade

-160000000

Between 1980 and 2008, Canada recorded a positive trade balance every year, with an expectation of 1991 and 1992. From 2009 onwards, the trade balance shifted to a deficit. In 2021, it switched again to a trade surplus, with energy products making the largest share of exports. The United States remains the country's biggest trading partner.

Exports

62970000000

Exports account for more than 30 percent of the Canadian GDP. In 2021, the top three Canadian goods exports in terms of total value were mineral fuels, oils, distillation products (24 percent), vehicles other than railways, tramways (9.1 percent), and machinery, nuclear reactors, boilers (6.6 percent). The US is by far the largest destination for Canadian products (76 percent of total exports), followed by China (4.5 percent) and the United Kingdom (2.6 percent).

Imports

63130000000

In 2021, Canada imported mainly: Machinery, nuclear reactors & boilers (14 percent), vehicles other than railways, tramways (14 percent), and electrical & electronic equipment (9.4 percent). Canada's major import partners were: the US (49 percent of total imports), China (14 percent), Mexico (5.5 percent), and Germany (3.1 percent).

Balance of Trade

The United States has been running consistent trade deficits since 1976 due to high imports of oil and consumer products. In 2022, the biggest trade deficits are recorded with China, Mexico, Vietnam, Canada, Germany, Japan, and Ireland, and the biggest trade surpluses with the Netherlands, Hong Kong, Brazil, Singapore, Australia, and United Kingdom. Canada is the top trading partner, accounting for 15 percent of total trade, followed by Mexico (14 percent) and China (13 percent).

Exports

250200000000

The United States is the world's third biggest exporter, yet exports account only for 10 percent of GDP. In 2022, the main exports were industrial supplies (38 percent of the total), capital goods (29 percent), consumer goods (14 percent), automotive vehicles (8 percent), and food, feeds, and beverages (8 percent). Main export partners were Canada (18 percent of total exports), Mexico (16 percent), China (7 percent), Japan (4.5 percent), the United Kingdom (4 percent), and Germany (3.5 percent).

Imports

317600000000

The United States is the world's second-biggest importer. In 2022, the main imports were consumer goods (27 percent), capital goods (26 percent), and industrial supplies (25 percent) followed by automotive vehicles, parts and engines (12 percent), and foods, feeds and beverages (6 percent). Shipments from China represented 17 percent of the total imports followed by Mexico (14 percent), Canada (13 percent), Japan (4.5 percent), and Germany (4.5 percent).

ADP Employment Change

The ADP National Employment Report measures levels of non-farm private employment. The Report is based on the actual payroll data from about 25 million employees and is produced by the ADP Research Institute in collaboration with the Stanford Digital Economy Lab.

MBA 30-Year Mortgage Rate

MBA 30-Year Mortgage Rate is average 30-year fixed mortgage lending rate measured during the reported week and backed by the Mortgage Bankers Association.

MBA Mortgage Applications

In the US, the MBA Weekly Mortgage Application Survey is a comprehensive overview of the nationwide mortgage market and covers all types of mortgage originators, including commercial banks, thrift institutions and mortgage banking companies. The entire market is represented by the Market Index which covers all mortgage applications during the week, whether for a purchase or to refinance. The survey covers over 75% of all US retail residential mortgage applications.

MBA Mortgage Refinance Index

The MBA Weekly Mortgage Application Survey is a comprehensive overview of the nationwide mortgage market and covers all types of mortgage originators, including commercial banks, thrift institutions and mortgage banking companies. The entire market is represented by the Market Index which covers all mortgage applications during the week. This includes all conventional and government applications, all fixed-rate mortgages (FRMs), all adjustable-rate mortgages (ARMs), whether for a purchase or to refinance.

MBA Mortgage Market Index

The MBA Weekly Mortgage Application Survey is a comprehensive overview of the nationwide mortgage market and covers all types of mortgage originators, including commercial banks, thrift institutions and mortgage banking companies. The entire market is represented by the Market Index which covers all mortgage applications during the week. This includes all conventional and government applications, all fixed-rate mortgages (FRMs), all adjustable-rate mortgages (ARMs), whether for a purchase or to refinance.

MBA Purchase Index

M3 Money Supply YoY

India Money Supply M3 includes M2 plus long-term time deposits in banks.

Industrial Production YoY

-6.8%

In Ireland, industrial production measures the output of businesses integrated in industrial sector of the economy. Manufacturing is the most important sector and its biggest segments are: Basic pharmaceutical products and preparations (37 percent of total production); food products (18 percent); chemicals and chemical products (15 percent); computer,electronic,optical and electrical equipment (11 percent); other manufacturing, repair and installation of machinery and equipment (7 percent); and basic metals and fabricated metal products,machinery and equipment (5 percent).

Inflation Rate YoY

4.8%

In Luxembourg, the most important categories in the consumer price index is Housing, Water, Electricity, Gas and Other Fuels (13 percent of total weight); Miscellaneous Goods and Services (12 percent); and Transport (10 percent). Food and Non-Alcoholic Beverages account for 9 percent; Furniture, Household Goods and Maintenance for 6 percent; Clothing and Footwear for 5 percent; and Recreation and Culture for 4 percent. Restaurants and Hotels; Alcohol Beverages and Tobacco; Health; Communication; and Education account for the remaining 12 percent of total weight.

Inflation Rate MoM

-0.4%

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

7-Year Bund Auction

2.34%

GDP Growth Rate QoQ 3rd Est

0.3%

The Euro Area is an economic and monetary union of 19 European countries that adopted the euro as their currency. It is the second largest economy in the world and if it was a country it would be the third most populous with 341 million inhabitants. Germany, France, Italy and Spain are the most important economies accounting respectively for 29 percent, 20 percent, 15 percent and 10 percent of the bloc’s GDP.

GDP Growth Rate YoY 3rd Est

2.3%

The Euro Area is the second largest economy in the world. Of the 19 member states it includes, the biggest are: Germany (29 percent of total GDP), France (20 percent), Italy (15 percent) and Spain (10 percent). On the expenditure side, household consumption is the main component of GDP and accounts for 54 percent of its total use, followed by gross fixed capital formation (21 percent) and government expenditure (20 percent). Exports of goods and services account for 47 percent of GDP while imports account for 43 percent, adding 4 percent of total GDP.

Employment Change QoQ Final

0.3%

In Euro Area, employment change refers to the quarterly 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.

Employment Change YoY Final

1.8%

In Euro Area, employment change refers to the quarterly 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.

GDP Growth Rate QoQ

1.1%

The economy of Luxembourg is dependent on the banking, steel, and industrial sectors and the country has one of the highest GDP per capita in the world. On the expenditure side, external balance of exports and imports is the main component of GDP and accounts for 35 percent of its total use, as exports of goods and services account for 200 percent while imports account for 165 percent. It is followed by household consumption (30 percent of GDP) gross fixed capital formation (18 percent) and government expenditure (17 percent).

GDP Growth Rate YoY

3%

On the expenditure side, external balance of exports and imports is the main component of GDP and accounts for 35 percent of its total use, as exports of goods and services account for 200 percent while imports account for 165 percent. It is followed by household consumption (30 percent of GDP) gross fixed capital formation (18 percent) and government expenditure (17 percent).

ECB President 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.

ECB Panetta 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.

Retail Sales MoM

-0.2%

In Italy, the Retail sales report provides an aggregated measure of sales of retail goods and services over a specific time period. In Italy, Retail sales are seasonal, volatile and relatively important to the overall economy.

Retail Sales YoY

3.4%

In Italy, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.

Unemployment Rate

3.9%

In Czech Republic, the unemployment rate shows the share of unemployed people between the ages of 15 and 64 immediately able to start work versus all working people in the same demographic group.

Inflation Rate YoY

25.7%

In Hungary, the most important category in the consumer price index is Food and Non-Alcoholic Beverages (23 percent of total weight). Transport accounts for 15 percent; Housing and Utilities for 12 percent; Alcoholic beverages, Tobacco and Narcotics for 9 percent; Recreation and Culture for 7 percent; Miscellaneous Goods and Services for 7 percent; and Furniture, Household Equipment and Maintenance for 7 percent. Health; Restaurants and Hotels; Communication; Clothing and Footwear; and Education account for the remaining 20 percent of total weight.

Inflation Rate MoM

2.3%

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

Core Inflation Rate YoY

25.4%

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

Industrial Production MoM

-3.1%

In Germany, industrial production measures the output of businesses integrated in industrial sector of the economy. Manufacturing is the most important sector and accounts for 79 percent of total production. The biggest segments within Manufacturing are: machinery and equipment (12 percent of total production); motor vehicles, trailers and semi-trailers (12 percent); basic metals and fabricated metal products (10 percent); and computers, electronic and optical products and electrical equipment (10 percent). Construction accounts for 11 percent of total output; and energy production accounts for 10 percent.

Balance of Trade

-670000000

International trade makes a third of Finland’s GDP. Finnish principal exports are: telecommunications equipment, passenger cars and forestry products and paper and paperboard. Finnish principal imports are food stuffs, petroleum and petroleum products, chemicals, transport equipment, iron and steel, machinery, textile yarn and fabrics and grains. European Union makes 55 percent of the total trade. The largest trade flows are with Germany, Russia, Sweden, China and U.S.

GDP Growth Rate YoY 2nd Est

3.8%

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 QoQ 2nd Est

1.2%

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.

Household Consumption YoY

9.9%

In the Netherlands, Household Consumption YoY measures the year-on-year change of consumption expenditure by households. Consumption expenditure includes all voluntary expenditure on goods and services by private individuals and households. It does not include compulsory expenditure such as taxes. Services is the most important sector and accounts for 58 percent of total consumption. The biggest segments within Services are housing; financial and business services; transport, communication services; and medical services and welfare. Consumption of goods account for the remaining 42 percent, in particular durable consumer goods (15 percent) and food, beverages and tobacco (15 percent).

Coincident Index Prel

Coincident Index correlates with the business cycle, and is used to identify the current state of the economy. In general, increasing coincident index shows that the economy is in an expansion phase, and decreasing coincident index reflects that the economy is in a contraction phase. The index is calculated using month-over-month percentage changes in 11 leading indicators, 11 coincident indicators, and 6 lagging indicators.

Leading Economic Index Prel

In Japan, the Leading Composite Index consists of 12 indexes such as account inventory ratios, machinery orders, stock prices and other leading economic indicators. The index anticipates changes in the direction of the Japanese economy in the coming months. In general, increase in the index reflects that the economy is in an expansion phase, and decreasing coincident index reflects that the economy is in a contraction phase. The index is used to make official judgement on when the business cycle begins and ends.

Eco Watchers Survey Current

48.5

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

49.3

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.

6-Month Bill Auction

-0.133%

Consumer Confidence

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.

RBA Chart Pack

In Australia, interest rates decisions are taken by the Reserve Bank of Australia's Board. The official interest rate is the cash rate. The cash rate is the rate charged on overnight loans between financial intermediaries, is determined in the money market as a result of the interaction of demand for and supply of overnight funds.

International Women’s Day

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.

RBA Gov Lowe Speech

In Australia, interest rates decisions are taken by the Reserve Bank of Australia's Board. The official interest rate is the cash rate. The cash rate is the rate charged on overnight loans between financial intermediaries, is determined in the money market as a result of the interaction of demand for and supply of overnight funds.

API Crude Oil Stock Change

Stocks of crude oil refer to the weekly change of the crude oil supply situation.

Consumer Credit Change

In the United States, Consumer Credit refers to outstanding credit flows extended to individuals for household, family, and other personal expenditures, excluding loans secured by real estate.

3-Year Note Auction