Forex2u - Online Forex Trading FX Market Community - AKFOREX CALENDAR 28 OCTOBER 2007

CALENDAR 28 OCTOBER 2007 – 02 NOVEMBER 2007

Sunday, October 28, 2007
-GMT 23:50 JPN Retail Sales seasonally adjusted (m/m), (Sep) EST -2.0% PREVIOUS 3.9%
-GMT 23:50 JPN Retail Sales (y/y), (Sep) EST -0.5% PREVIOUS 0.5%
Definition
The retail sales report is a measure of the total receipts of retail stores from samples representing all sizes and kinds of business in retail trade throughout the nation. It is the most timely indicator of broad consumer spending patterns and is adjusted for normal seasonal variation, holidays, and trading-day differences. Retail sales include durable and nondurable merchandise sold, and services and excise taxes incidental to the sale of merchandise. Excluded are sales taxes collected directly from the customer. It also excludes spending for services, a large component of consumer expenditures. Retail sales is a the first picture of consumer spending for a given month. Retail sales are often viewed ex-autos, as auto sales can move sharply from month-to-month. Also, gas and food component changes are often a result of price changes rather than shifting consumer demand. Retail sales can be quite volatile and the advance reports are subject to large revisions.

Monday, October 29, 2007
-GMT 23:30 JPN Household spend (m/m), (Sep) EST -1.4% PREVIOUS -0.4%
-GMT 23:30 JPN Household spend (y/y), (Sep) EST 1.0% PREVIOUS 1.6%

-GMT 23:30 JPN Unemployment (Sep) EST 3.8% PREVIOUS 3.8%
Definition
The percentage of the people classified as unemployed as compared to the total labor force.

Tuesday, October 30, 2007
-GMT 08:55 GER Unemployment Change (Oct) EST -25K PREVIOUS -50K
-GMT 08:55 GER Unemployment Rate s.a. (Oct) EST % PREVIOUS 8.8%
Definition
The percentage of the people classified as unemployed as compared to the total labor force.

-GMT 14:00 USA Consumer Confidence (Oct) EST 100.0 PREVIOUS 99.8
Definition
The Consumer Confidence index attempts to gauge consumers' feelings about the current condition of the economy and their expectations about the economy's future direction.

Wednesday, October 31, 2007
-Japan – Monetary Policy Meeting

-Japan- BoJ Rate Decision EST 0.5% PREVIOUS 0.5%

-GMT 05:00 JPN Housing starts (y/y), (Sep) EST % PREVIOUS -43.3%
-GMT 05:00 JPN Annualized Housing Starts (Sep) EST k PREVIOUS 729k

-GMT 05:00 JPN Construction orders (y/y), (Sep) EST -11.8% PREVIOUS -14.2%

-GMT 10:00 EU Consumer Confidence (Oct) EST PREVIOUS -5.0
Definition
The Consumer Confidence index attempts to gauge consumers' feelings about the current condition of the economy and their expectations about the economy's future direction.

-GMT 10:00 EU Industrial Confidence (Oct) EST PREVIOUS 3.0

-GMT 10:00 EU HICP Estimate (y/y), (Oct) EST 2.3% PREVIOUS 2.1%
Definition
The consumer price index (CPI) gauges the average change in retail prices for a fixed market basket of goods and services. The CPI data is compiled from a sample of prices for food, shelter, clothing, fuel, transportation and medical services that people purchase on daily basis.

-GMT 10:00 EU Unemployment (Sep) EST 6.9% PREVIOUS 6.9%
Definition
The percentage of the people classified as unemployed as compared to the total labor force.

-GMT 10:30 UK GFK Survey (Oct) EST PREVIOUS -7.0
Definition
This index is based on the following question to consumers: ‘How do you think the general economic situation will develop in the next 12 months?’ (improve – stagnate – deteriorate). About 2000 interviews are conducted each month.

-GMT 12:30 USA Employment Cost (q/q), (Q3) EST 0.9% PREVIOUS 0.9%
Definition
The Employment Cost Index measures wages and inflation and provides the most comprehensive analysis of worker compensation,including wages, salaries and fringe benefits. The ECI is one of the Fed’s favorite quarterly economic statistics

-GMT 12:30 USA GDP Annualized (q/q), (3Q) EST 3.1% PREVIOUS 3.8%
-GMT 12:30 USA GDP Price Index (y/y), (3Q) EST 2.2% PREVIOUS 2.6%
Definition
Gross Domestic Product (GDP) is the total value of final goods and services produced within a country's borders in a year. It is one of the measures of national income and output. It may be used as one indicator of the standard of living in a country, but there may be limitations with this view.

-GMT 13:45 USA Chicago PMI (Oct) EST 53.5 PREVIOUS 54.2
Definition
The Chicago PMI (officially known as the Business Barometer) is a monthly composite index based on opinion surveys of more than 200 Chicago purchasing managers regarding the manufacturing industry. The survey responses are limited to three options: slower, faster and same. As such, the index will not capture if a component is growing but at a much slower rate or vice versa. The index is a composite of seven similarly constructed indexes including: new orders, production, supplier delivery times, backlogs, inventories, prices paid, and employment. New orders and orders backlog indices indicate future production activity. It signals factory-sector expansion when it is above 50 and contraction when below it. The index is seasonally adjusted for the effects of variations within the year, differences due to holidays and institutional changes. Because it is an opinion survey, it is often influenced by respondents’ perception of current events, as opposed to actual hard data. Also, it does not capture technological and production changes, which make it possible for production to expand, while employment contracts. Because the Chicago PMI is released the day before the ISM, it is watched in order to predict the more important ISM report, which is in itself a good leading indicator of overall economic activity. It frequently moves markets

-GMT 15:00 USA Construction Sp (m/m), (Sep) EST -0.3% PREVIOUS 0.2%
Definition
Measures the total amount of spending in the U.S. on all types of construction. The residential construction component is useful for predicting future national new homes sales and mortgage origination volume.

-GMT 18:15 USA FOMC Rate Decision EST 4.50% PREVIOUS 4.75%
Definition
The Federal Open Market Committee is a twelve-member committee made up of the seven members of the Board of Governors and five Federal Reserve Bank presidents. It meets eight times per year to determine the near-term direction of monetary policy, such as setting guidelines for the purchase and sale of government securities and setting policy relating to System operations in the foreign exchange markets. These changes in monetary policy are now announced immediately after FOMC meetings. Most importantly, the Fed determines interest rate policy at FOMC meetings. Market participants speculate about the possibility of an interest rate change at these meetings, and if the outcome is different from expectations, the impact on the markets

can be dramatic and far-reaching. The interest rate set by the Fed the federal funds rate serves as a benchmark for all other rates. A change in the fed funds rate, the lending rate banks charge each other for the use of overnight funds, translates directly through to all other interest rates from Treasury bonds to mortgage loans. It also changes the dynamics of competition for investor dollars: when bonds yield 10 percent, they will attract more money away from stocks then when they only yield 5 percent. The level of interest rates affects the economy higher rates tend to slow activity; lower rates stimulate activity, a ripple effect that expands into all sectors of the economy.

Thursday, November 01, 2007
- GMT 08:55 GER Manuf. PMI (Oct) EST PREVIOUS 54.9
Definition
The Index is widely used by industrialized economies to assess business confidence. Germany, Japan and the UK use PMI surveys for both manufacturing and services industries. The numbers are arrived at through a series of questions regarding Business activity, New Business, Employment, Input Prices, Prices Charged and Business Expectations. In addition to the headline figures, the prices paid components is highly scrutinized by the markets for evaluating pricing power and inflationary risks.

- GMT 09:30 UK Manuf. PMI (Oct) EST PREVIOUS 55.1
Definition
The Index is widely used by industrialized economies to assess business confidence. Germany, Japan and the UK use PMI surveys for both manufacturing and services industries. The numbers are arrived at through a series of questions regarding Business activity, New Business, Employment, Input Prices, Prices Charged and Business Expectations. In addition to the headline figures, the prices paid components is highly scrutinized by the markets for evaluating pricing power and inflationary risks.

- GMT 12:30 USA Initial Claims EST k PREVIOUS K
Definition
New unemployment claims are compiled weekly to show the number of individuals who filed for unemployment insurance for the first time. An increasing (decreasing) trend suggests a deteriorating (improving) labor market. The four-week moving average of new claims smoothes out weekly volatility.

-GMT 12:30 USA Personal Income (m/m), (Sep) EST 0.4% PREVIOUS 0.3%
Definition
Personal income is simply the income received by individuals, nonprofit institutions, and private trust funds.
This indicator is vital for the sales sector. Without an adequate personal income and a propensity to purchase, consumer purchases of durable and nondurable goods are limited.

-GMT 12:30 USA Personal Spending (m/m), (Sep) EST 0.0% PREVIOUS 0.6%
Definition
Personal Spending, also known as PCE, represents the change in the market value of all goods and services purchased by individuals. It is the largest component of GDP.

-GMT 12:30 USA PCE Deflator (y/y),(Sep) EST % PREVIOUS 1.8%

-GMT 12:30 USA Core PCE Deflator (m/m),(Sep) EST % PREVIOUS 0.1%
-GMT 12:30 USA Core PCE Deflator (y/y), (Sep) EST 1.9% PREVIOUS 1.8%

-GMT 14:00 USA ISM Index (Oct) EST PREVIOUS 59
Definition
The Institute for Supply Management (ISM) Index is a composite diffusion index of national manufacturing conditions. Readings above 50 percent indicate an expanding factory sector. The index is calculated from five of the eight sub-components of a monthly survey of purchasing managers at roughly 400 manufacturing firms representing 20 industries and all 50 states. The survey queries purchasing managers about the general direction of production, orders, inventories, employment, vendor deliveries and prices.

-GMT 14:00 USA ISM Manufacturing (OCT) EST 52 PREVIOUS 52
Definition
A national manufacturing index based on a survey of purchasing executives at roughly 300 industrial companies. Signals expansion when the PMI is above 50 and contraction when below.

Friday, November 02, 2007
-GMT 09:00 EU Manuf. PMI (Oct) EST PREVIOUS 53.2
Definition
The Index is widely used by industrialized economies to assess business confidence. Germany, Japan and the UK use PMI surveys for both manufacturing and services industries. The numbers are arrived at through a series of questions regarding Business activity, New Business, Employment, Input Prices, Prices Charged and Business Expectations. In addition to the headline figures, the prices paid components is highly scrutinized by the markets for evaluating pricing power and inflationary risks.

-GMT 12:30 USA Nonfarm Payroll (Oct) EST 90k PREVIOUS 110k
-GMT 12:30 USA Unemployment Rate (Oct) EST 4.7% PREVIOUS 4.7%
-GMT 12:30 USA Avg Hrly Earnings (Oct) EST 0.2% PREVIOUS 0.4%
-GMT 12:30 USA Work Week (Oct) EST 33.8hrs PREVIOUS 33.8hrs
Definition
In the US, the employment report, also known as the labor report, is regarded as the most important among all economic indicators. The report provides the first comprehensive look at the economy, covering nine economic categories. Here are the three main components of the report:
Payroll Employment: Measures the change in number of workers in a given month and measures the number of jobs in more than 500 industries (ex-¬farming) in all states and 255 metropolitan areas. The employment estimates are based on a survey of larger businesses and counts the number of paid employees working part-time or full-time in the nation's business and government establishments. This release is the most closely watched indicator because of its timeliness, accuracy and its comprehensiveness. It is important to compare this figure to a monthly moving average (6 or 9 months) to capture a true perspective of the trend in labor market strength. Equally important are the frequent revisions for the prior months, which are often significant.
Unemployment Rate: The percentage of the civilian labor force actively looking for employment but unable to find jobs. Although it is a highly proclaimed figure (due to simplicity of the number and its political implications), the unemployment rate gets relatively less importance in the markets because it is known to be a lagging indicator -- it usually falls behind economic turns.
Average Hourly Earnings Growth: The growth rate between one month’s average hourly rate and another’s sheds light on wage growth and, hence, assesses the potential of wage-push inflation. The year-on-year rate is also important in capturing the longer-term trend.
The employment data give the most comprehensive report on how many people are looking for jobs, how many have them, what they're getting paid and how many hours they are working. These numbers are the best way to gauge the current state and future direction of the economy. They also provide insight on wage trends and wage inflation. By tracking the jobs data, investors can sense the degree of tightness in the job market. If wage inflation threatens, usually interest rates will rise, and bond and stock prices will fall. One weakness in this indicator is it is subject to significant revisions and large seasonal distortions.

-GMT 14:00 USA Factory Orders (m/m), (Sep) EST 1.3% PREVIOUS -3.3%
Definition
Factory orders refer to the total of durable and nondurable good orders

While AKFOREX attempts to ensure the accuracy of these data by using sources it believes to be reliable, release dates, times, items included and content are frequently subject to change, error and ommissions. These data shall not be construed as a recommendation to buy or sell any security. AKFOREX shall not assume any legal liability or responsibility for any incorrect, misleading or altered information contained herein.