US Fed Interest Rate Decision

Location: United States

Date: 31/07/2013

Time: 19:00 - 20:00

Strength: 3/3

Previous: 0.25% / Consensus: 0.25%

Notes: The Board of Governors of the Federal Reserve announces an interest rate. This interest rate affects the whole range of interest rates set by commercial banks, building societies and other institutions for their own savers and borrowers. It also tends to affect the exchange rate. Generally speaking, if the Fed is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the USD.Review Alex Nekritin's Article -Suggested Strategies to trade the US dollar with this economic release.

#END

US Personal Consumption Expenditures Prices (QoQ)

Location: United States

Date: 31/07/2013

Time: 13:30 - 14:30

Strength: 2/3

Previous: 1%

Notes: Personal Consumption Expenditures, released by US Department of Commerce, measures price changes in consumer goods and services. Personal consumption expenditures consist of the actual and imputed expenditures of households; the measure includes data pertaining to durables, non-durables and services. It is essentially a measure of goods and services targeted toward individuals and consumed by individuals.

#END

US Gross Domestic Product Annualized

Location: United States

Date: 31/07/2013

Time: 13:30 - 14:30

Strength: 3/3

Previous: 1.8% / Consensus: 1.2%

Notes: The Gross Domestic Product Annualized released by the US Bureau of Economic Analysis shows the monetary value of all the goods, services and structures produced within a country in a given period of time. GDP Annualized is a gross measure of market activity because it indicates the pace at which a country's economy is growing or decreasing. Generally speaking, a high reading or a better than expected number is seen as positive for the USD, while a low reading is negative.

#END

US Gross Domestic Product Price Index

Location: United States

Date: 31/07/2013

Time: 13:30 - 14:30

Strength: 2/3

Previous: 1.3% / Consensus: 1.0%

Notes: The GDP Price Index released by the Bureau of Economic Analysis, Department of Commerce gauges the change in the prices of goods and services. Changes in the GDP price index are followed as an indicator of inflationary pressure that may anticipate interest rates to rise. A high reading is seen as positive, or bullish for the USD, while a low reading is seen as negative, or bearish.

#END

US ADP Employment Change

Location: United States

Date: 31/07/2013

Time: 13:15 - 14:15

Strength: 2/3

Previous: 188K / Consensus: 182K

Notes: The Employment Change released by the Automatic Data Processing, Inc is a measure of the change in the number of employed people in the US. Generally speaking, a rise in this indicator has positive implications for consumer spending, stimulating economic growth. So a high reading is traditionally seen as positive, or bullish for the USD, while a low reading is seen as negative, or bearish.

#END

EMU Consumer Price Index - Core (YoY)

Location: European Monetary Union

Date: 31/07/2013

Time: 10:00 - 11:00

Strength: 3/3

Previous: 1.2% / Consensus: 1.6%

Notes: The core Consumer Price Index released by Eurostat is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services excluding the volatile components like food, energy, alcohol and tobacco. The core CPI is a key indicator to measure inflation and changes in purchasing trends. Generally, a high reading is seen as positive or bullish for the EUR, while a low reading is seen as negative.

#END

EMU Consumer Price Index (YoY)

Location: European Monetary Union

Date: 31/07/2013

Time: 10:00 - 11:00

Strength: 3/3

Previous: 1.6% / Consensus: 1.7%

Notes: The Euro Zone CPI released by the Eurostat captures the changes in the price of goods and services. The CPI is a significant way to measure changes in purchasing trends and inflation in the Euro Zone. Generally, a high reading anticipates a hawkish attitude which will be positive (or bullish) for the EUR, while a low reading is seen as negative (or bearish).

#END

DE Unemployment Rate s.a.

Location: Germany

Date: 31/07/2013

Time: 8:55 - 9:55

Strength: 3/3

Previous: 6.8% / Consensus: 6.8%

Notes: The Unemployment Rate released by the Bundesagentur f�r Arbeit and published by the German Statistics Office shows , in a percent basis, the amount of unemployed people in Germany. A decrease in this indicator has positive implications for consumer spending which stimulates economic growth. Normally, a decrease of the figure is bullish for the EUR, while an increase is bearish.

#END

DE Unemployment Change

Location: Germany

Date: 31/07/2013

Time: 8:55 - 9:55

Strength: 3/3

Previous: -12K / Consensus: -4K

Notes: The Unemployment Change released by the Bundesagentur f�r Arbeit and published by the German Statistics Office is a measure of the change in the number of unemployed people in Germany. A rise in this indicator has negative implications for consumer spending which encourages economic growth. Generally, a high reading is seen as negative (or bearish) for the EUR, while a low reading is seen as positive (or bullish).

#END

UK Gfk Consumer Confidence

Location: United Kingdom

Date: 30/07/2013

Time: 0:01 - 1:01

Strength: 2/3

Previous: -21 / Consensus: -19

Notes: The GfK Group Consumer Confidence is a leading index that measures the level of consumer confidence in economic activity. A high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn. Normally, a high reading is positive for the GBP, while a low reading is bearish.

#END

DE Harmonised Index of Consumer Prices (MoM)

Location: Germany

Date: 30/07/2013

Time: 13:00 - 14:00

Strength: 2/3

Previous: 0.1% / Consensus: 0.3%

Notes: HICP is an index of consumer prices calculated and published by Destatis, the Statistical Office of the European Union, on the basis of a statistical methodology that has been harmonised across all EU member states. HICP is a measure of prices used by Governing Council of EU to define and assess price stability in the euro area as a whole in quantitative terms.

#END

DE Consumer Price Index (MoM)

Location: Germany

Date: 30/07/2013

Time: 13:00 - 14:00

Strength: 2/3

Previous: 0.1% / Consensus: 0.3%

Notes: The Germany consumer price index released by the Statistiches Bundesamt Deutschland measures the average price change for all goods and services purchased by households for consumption purposes. CPI is the main indicator to measure inflation and changes i

#END

DE Consumer Price Index (YoY)

Location: Germany

Date: 30/07/2013

Time: 13:00 - 14:00

Strength: 3/3

Previous: 1.8% / Consensus: 1.8%

Notes: The Germany consumer price index released by the Statistiches Bundesamt Deutschland measures the average price change for all goods and services purchased by households for consumption purposes. CPI is the main indicator to measure inflation and changes i

#END

DE Gfk Consumer Confidence Survey

Location: Germany

Date: 30/07/2013

Time: 7:00 - 8:00

Strength: 2/3

Previous: 6.8 / Consensus: 6.9

Notes: The GfK Consumer Confidence is a leading index that measures the level of consumer confidence in economic activity. A high level of consumer confidence stimulates economic expansion while a low level drives to economic downturn. Generally speaking, a high reading is positive (or bullish) for the EUR, while a low reading is seen as negative (or bearish).

#END

UK Consumer Credit

Location: United Kingdom

Date: 29/07/2013

Time: 9:30 - 10:30

Strength: 2/3

Previous: �0.7B

Notes: The Consumer Credit released by the Bank of England is an amount of money that individuals borrowed in the previous month. It shows if consumers can afford large expenses, which can fuel economic growth. However, a high figure may also indicate that the economy is overheating, as consumers borrow in order to live beyond their means. A high reading is seen as positive for the GBP, whereas a low reading is seen as negative.

#END

US Dallas Fed Manufacturing Business Index

Location: United States

Date: 29/07/2013

Time: 15:30 - 16:30

Strength: 2/3

Previous: 6.5

Notes: The Dallas Fed conducts the Texas Manufacturing Outlook Survey monthly to obtain a timely assessment of the state's factory activity. Firms are asked by Federal Reserve Bank of Dallas whether output, employment, orders, prices and other indicators increased, decreased or remained unchanged over the previous month. Survey responses are used to calculate an index for each indicator. Each index is calculated by subtracting the percentage of respondents reporting a decrease from the percentage reporting an increase.

#END

US Durable Goods Orders

Location: United States

Date: 26/07/2013

Time: 13:30 - 14:30

Strength: 3/3

Previous: 3.6% / Consensus: 0.5%

Notes: The Durable Goods Orders, released by the US Census Bureau, measures the cost of orders received by manufacturers for durable goods, which means goods planned to last for three years or more, such as motor vehicles and appliances. As those durable products often involve large investments they are sensitive to the US economic situation. The final figure shows the state of US production activity. Generally speaking, a high reading is bullish for the USD.

#END

US Durable Goods Orders ex Transportation

Location: United States

Date: 25/07/2013

Time: 13:30 - 14:30

Strength: 2/3

Previous: 0.7% / Consensus: 0.5%

Notes: The Durable Goods Orders measures, released by the US Census Bureau, the cost of orders received by manufacturers for durable goods, which means goods planned to last for three years or more, excluding the transport sector. As those durable products often involve large investments they are sensitive to the US economic situation. Generally speaking, a high reading is bullish for the USD, while a low reading is seen as Bearish.

#END

DE IFO - Current Assessment

Location: Germany

Date: 25/07/2013

Time: 9:00 - 10:00

Strength: 2/3

Previous: 109.4 / Consensus: 110.0

Notes: The IFO Current Assessment released by the CESifo Group is closely watched as an indicator of current conditions and business expectations in Germany. The Institute surveys more than 7,000 enterprises on their assessment of the business situation and their short-term planning. The positive economic growth anticipates bullish movements for the EUR, while a low reading is seen as negative (or bearish).Review Alex Nekritin's Article - Trading Euro with IFO Report

#END

DE IFO - Expectations

Location: Germany

Date: 25/07/2013

Time: 9:00 - 10:00

Strength: 2/3

Previous: 102.5 / Consensus: 102.5

Notes: The IFO Expectations released by the CESifo Group is closely watched as an early indicator of current conditions and business expectations for the next six months, where firms rate the future outlook as better, same, or worse. An optimistic view of those 7,000 business leaders and senior managers is considered as positive, or bullish for the EUR, whereas a pessimistic view is considered as negative, or bearish.Review Alex Nekritin's Article - Trading Euro with IFO Report

#END

UK Nationwide Housing Prices n.s.a (YoY)

Location: United Kingdom

Date: 25/07/2013

Time: 7:00 - 8:00

Strength: 2/3

Previous: 1.9%

Notes: The Nationwide Housing Prices shows the value of the houses prices in UK and indicate current movements in the housing market that is considered as a sensitive factor to the UK's economy. A high reading is seen as positive (or bullish) for the GBP, while a low reading is seen as negative (or bearish).

#END

US Markit Manufacturing PMI

Location: United States

Date: 24/07/2013

Time: 13:58 - 14:58

Strength: 2/3

Previous: 51.9 / Consensus: 51.9

Notes: The Manufacturing Purchasing Managers Index (PMI) released by the Markit Economics captures business conditions in the manufacturing sector. As the manufacturing sector dominates a large part of total GDP, the manufacturing PMI is an important indicator of business conditions and the overall economic condition in the United States. Readings above 50 imply the economy is expanding, making investors understood it as a bullish for the USD, whereas a result below 50 points for an economic contraction, and weighs negatively on the currency.

#END

DE Markit Manufacturing PMI

Location: Germany

Date: 24/07/2013

Time: 8:28 - 9:28

Strength: 2/3

Previous: 48.6 / Consensus: 49.4

Notes: The Manufacturing Purchasing Managers Index (PMI) released by Markit Economics captures business conditions in the manufacturing sector. As the manufacturing sector dominates a large part of total GDP, the Manufacturing PMI is an important indicator of business conditions and the overall economic condition in Germany. Normally, a result above 50 signals is bullish for the EUR, whereas a result below 50 is seen as bearish.

#END

DE Markit Services PMI

Location: Germany

Date: 24/07/2013

Time: 8:28 - 9:28

Strength: 2/3

Previous: 50.4 / Consensus: 50.8

Notes: The Services PMI released by Markit Economics interviews German executives on the status of sales, employment, and their outlook. Because the performance of the German service sector is extremely consistent over time, services does not impact final GDP figures as much as the more volatile figure on the manufacturing sector. Any reading above 50 signals expansion, while a reading under 50 shows contraction.

#END

US Housing Price Index (MoM)

Location: United States

Date: 23/07/2013

Time: 14:00 - 15:00

Strength: 2/3

Previous: 0.7% / Consensus: 0.8%

Notes: The Housing Price Index released by the Office of Federal Reserve Housing Enterprise Oversightprovides an estimated value of housing market conditions. It is an important indicator as the housing market is considered as a sensitive factor to the US economy. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).

#END

UK BBA Mortgage Approvals

Location: United Kingdom

Date: 23/07/2013

Time: 9:30 - 10:30

Strength: 2/3

Previous: 36.1K / Consensus: 38.5K

Notes: The Mortgage Approvals published by the British Bankers' Association (BBA) measure the number of home loans issued by the BBA during the previous quarter. It is considered as a leading indicator of the UK Housing Market. A Mortgage growth represents a healthy housing market that stimulates the overall UK economy. Normally, a high reading is seen as positive (or bullish) for the GBP, while a low reading is seen as negative (or bearish)

#END

UK Public Sector Net Borrowing

Location: United Kingdom

Date: 19/07/2013

Time: 9:30 - 10:30

Strength: 2/3

Previous: �10.535B / Consensus: �9.400B

Notes: The Net Borrowing released by the National Statistics captures an amount of new debt held by the U.K. governments (the financial deficit in the UK national accounts). Generally speaking, if the Net Borrowing is negative, it means the UK Accounts are surplus, and that should be positive for the GBP. While a deficit is generally unfavorable for the economy, a growth in the Net Borrowing is considered as negative, or bearish for the GBP.

#END

UK Retail Sales ex-Fuel (YoY)

Location: United Kingdom

Date: 18/07/2013

Time: 9:30 - 10:30

Strength: 2/3

Previous: 2.1% / Consensus: 1.6%

Notes: The Retail Sales ex-fuel released by the National Statistics is a measure of changes in sales of the British retail sector excluding fuel. It shows the performance of the retail sector in the short term. Percent changes reflect the rate of changes of such sales. The changes are widely followed as an indicator of consumer spending. A high reading is seen as positive (or bullish) for the Pound, while a low reading is seen as negative (or bearish).

#END

UK Retail Sales (YoY)

Location: United Kingdom

Date: 18/07/2013

Time: 9:30 - 10:30

Strength: 2/3

Previous: 1.9% / Consensus: 1.7%

Notes: The retail Sales released by the National Statistics measures the total receipts of retail stores. Monthly percent changes reflect the rate of changes of such sales. Changes in Retail Sales are widely followed as an indicator of consumer spending. Generally speaking, a high reading is seen as positive, or bullish for the GBP, while a low reading is seen as negative or bearish.

#END

UK Claimant Count Rate

Location: United Kingdom

Date: 18/07/2013

Time: 9:30 - 10:30

Strength: 2/3

Previous: 4.5% / Consensus: 4.5%

Notes: The Claimant Count Rate released by the National Statistics is a monthly measure of unemployment in the UK It indicates the health of the UK labor market. If the rate is up, it indicates a lack of expansion within the UK labor market, while it indicates economic expansion and could spark inflationary pressures if the rate is down. Generally, a decrease of the figure is seen as positive (or bullish) for the GBP, while an increase is seen as negative.

#END

DE 10-y Bond Auction

Location: Germany

Date: 18/07/2013

Time: 10:30 - 11:30

Strength: 2/3

Previous: 1.55%

Notes: Displayed in the calendar is the average yield on the Federal Bonds auctioned by Deutsche Bundesbank. German Federal Bonds have maturities of above then ten years. The yield on the bonos represents the return an investor will receive by holding the bond until maturity. Investors monitor the yield volatility and compare the average rate at auction to the rate at previous auctions of the same security as an indicator of the government debt situation.

#END

US Fed's Beige Book

Location: United States

Date: 17/07/2013

Time: 19:00 - 20:00

Strength: 3/3

Previous:

Notes: The Beige Book reports on the current US economic situation. Through interviews with key business contacts, economists, market experts, and other sources are gathered by each of the 12 Federal Reserve Districts. The survey gives a picture of the overall US economic growth. An optimistic view of those authorities is considered as positive, or bullish for the USD, whereas a pessimistic view is considered as negative, or bearish for the Dollar.

#END

UK Average Earnings including Bonus (3Mo/Yr)

Location: United Kingdom

Date: 17/07/2013

Time: 9:30 - 10:30

Strength: 2/3

Previous: 1.3% / Consensus: 1.4%

Notes: The Average Earing Including Bonus released by the National Statistics is a key short-term indicator of how levels of pay are changing within the U.K. economy. Generally speaking, the positive earnings growth anticipates "Bullish for the GBP, whereas a low reading is seen

#END

US Net Long-Term TIC Flows

Location: United States

Date: 16/07/2013

Time: 14:00 - 15:00

Strength: 2/3

Previous: -$37.3B / Consensus: $14.3B

Notes: The Net Long-Term TIC Flows is released by the US Department of Treasury. TIC stands for Treasury International Capital. It shows in and out flows of financial resources in the United States. The TIC flows is one of the major events in the market, as it is seen by most participants as the Government resource for offsetting the current Trade Deficit. Generally speaking, a high reading is positive (or bullish) for the USD, while a low reading is negative (or bearish).

#END

US Consumer Price Index (YoY)

Location: United States

Date: 16/07/2013

Time: 13:30 - 14:30

Strength: 3/3

Previous: 1.4% / Consensus: 1.5%

Notes: The Consumer Price Index released by the US Bureau of Labor Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. The purchase power of USD is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or Bearish).

#END

US Consumer Price Index Ex Food & Energy (MoM)

Location: United States

Date: 16/07/2013

Time: 13:30 - 14:30

Strength: 2/3

Previous: 0.2% / Consensus: 0.2%

Notes: The Consumer Price Index (CPI) Ex Food & Energy released by the US Department of Labor Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. Those volatile products such as food and energy are excluded in order to capture an accurate calculation. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or Bearish).

#END

US Consumer Price Index (MoM)

Location: United States

Date: 16/07/2013

Time: 13:30 - 14:30

Strength: 2/3

Previous: 0.1% / Consensus: 0.3%

Notes: The Consumer Price Index released by the US Bureau of Labor Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. The purchase power of USD is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or Bearish).

#END

US Consumer Price Index Ex Food & Energy (YoY)

Location: United States

Date: 16/07/2013

Time: 13:30 - 14:30

Strength: 3/3

Previous: 1.7% / Consensus: 1.6%

Notes: The Consumer Price Index (CPI) Ex Food & Energy released by the US Department of Labor Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. Those volatile products such as food and energy are excluded in order to capture an accurate calculation. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or Bearish).

#END

UK BOE Inflation Letter

Location: United Kingdom

Date: 16/07/2013

Time: 11:00 - 12:00

Strength: 3/3

Previous:

Notes: BOE inflation letter is issued if the earlier-released CPI y/y is above 3.0% or below 1.0%. If CPI is not above 3.0% or below 1.0% this event will be removed from the calendar immediately following the CPI release. Otherwise the Tentative mark will be discarded when the exact timing of the letter is known.

#END

DE ZEW Survey - Economic Sentiment

Location: Germany

Date: 16/07/2013

Time: 10:00 - 11:00

Strength: 2/3

Previous: 38.5 / Consensus: 39.0

Notes: The Economic Sentiment published by the Zentrum f�r Europ�ische Wirtschaftsforschung measures the institutional investor sentiment, reflecting the difference between the share of investors that are optimistic and the share of analysts that are pessimistic. Generally speaking, an optimistic view is considered as positive (or bullish) for the EUR, whereas a pessimistic view is considered as negative (or bearish).Review Alex Nekritin's Article - Trading the Euro with Germany ZEW Survey

#END

EMU Consumer Price Index - Core (YoY)

Location: European Monetary Union

Date: 16/07/2013

Time: 10:00 - 11:00

Strength: 3/3

Previous: 1.2% / Consensus: 1.2%

Notes: The core Consumer Price Index released by Eurostat is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services excluding the volatile components like food, energy, alcohol and tobacco. The core CPI is a key indicator to measure inflation and changes in purchasing trends. Generally, a high reading is seen as positive or bullish for the EUR, while a low reading is seen as negative.

#END

EMU Consumer Price Index (MoM)

Location: European Monetary Union

Date: 16/07/2013

Time: 10:00 - 11:00

Strength: 2/3

Previous: 0.1% / Consensus: 0.1%

Notes: The Euro Zone CPI released by the Eurostat captures the changes in the price of goods and services. The CPI is a significant way to measure changes in purchasing trends and inflation in the Euro Zone. Generally, a high reading anticipates a hawkish attitude which will be positive (or bullish) for the EUR, while a low reading is seen as negative (or bearish).

#END

DE ZEW Survey - Current Situation

Location: Germany

Date: 16/07/2013

Time: 10:00 - 11:00

Strength: 2/3

Previous: 8.6 / Consensus: 9.0

Notes: The Economic Sentiment published by the Zentrum f�r Europ�ische Wirtschaftsforschung measures the institutional investor sentiment, reflecting the difference between the share of investors that are optimistic and the share of analysts that are pessimistic. Generally speaking, an optimistic view is considered as positive (or bullish) for the EUR, whereas a pessimistic view is considered as negative (or bearish).Review Alex Nekritin's Article - Trading the Euro with Germany ZEW Survey

#END

EMU Consumer Price Index (YoY)

Location: European Monetary Union

Date: 16/07/2013

Time: 10:00 - 11:00

Strength: 3/3

Previous: 1.4% / Consensus: 1.6%

Notes: The Euro Zone CPI released by the Eurostat captures the changes in the price of goods and services. The CPI is a significant way to measure changes in purchasing trends and inflation in the Euro Zone. Generally, a high reading anticipates a hawkish attitude which will be positive (or bullish) for the EUR, while a low reading is seen as negative (or bearish).

#END

UK Core Consumer Price Index (YoY)

Location: United Kingdom

Date: 16/07/2013

Time: 9:30 - 10:30

Strength: 3/3

Previous: 2.2% / Consensus: 2.3%

Notes: The Core Consumer Price Index released by the National Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. "Core excludes seasonally volatile products such as food and energy in order to capture an accurate calculation. The CPI is a key indicator to measure inflation and changes in purchasing trends. Generally, a high reading is seen as positive (or bullish) for the GBP, while a low reading is seen as negative (or Bearish).

#END

UK PPI Core Output (YoY) n.s.a

Location: United Kingdom

Date: 16/07/2013

Time: 9:30 - 10:30

Strength: 2/3

Previous: 0.8%

Notes: Producer Prices Index Core Output, released by National Statistics, excludes volatile items such as food and energy. The Core PPI is generally a better measure of inflation because it excludes those items whose short-term price fluctuations can distort inflationary data.

#END

UK Consumer Price Index (MoM)

Location: United Kingdom

Date: 16/07/2013

Time: 9:30 - 10:30

Strength: 2/3

Previous: 0.2%

Notes: The Consumer Price Index released by the National Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. The purchase power of GBP is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. Generally, a high reading is seen as positive (or bullish) for the GBP, while a low reading is seen as negative (or Bearish).

#END

UK Consumer Price Index (YoY)

Location: United Kingdom

Date: 16/07/2013

Time: 9:30 - 10:30

Strength: 3/3

Previous: 2.7% / Consensus: 3.0%

Notes: The Consumer Price Index released by the National Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. The purchase power of GBP is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. Generally, a high reading is seen as positive (or bullish) for the GBP, while a low reading is seen as negative (or Bearish).

#END

UK Producer Price Index - Output (YoY) n.s.a

Location: United Kingdom

Date: 16/07/2013

Time: 9:30 - 10:30

Strength: 2/3

Previous: 1.2%

Notes: The Producer Price Index released by the National Statistics is a monthly measurement of the price changes of goods produced by UK manufacturers. Generally speaking, a price hike generates higher retail prices for consumers. Thus, a high reading is positive (or bullish) for the GBP, while a low reading is seen as negative (or bearish).

#END

US Retail Sales ex Autos (MoM)

Location: United States

Date: 15/07/2013

Time: 13:30 - 14:30

Strength: 2/3

Previous: 0.3% / Consensus: 0.4%

Notes: The Retail Sales ex Autos released by the US Census Bureau is a monthly data that shows all goods sold by retailers based on a sampling of retail stores of different types and sizes except the automobile sector. The retail sales index is often taken as an indicator of consumer confidence. This report is the "advance report, which can be revised fairly significantly after the final numbers are calculated. The positive economic growth anticipates bullish movements for the USD.

#END

US Retail Sales (MoM)

Location: United States

Date: 15/07/2013

Time: 13:30 - 14:30

Strength: 3/3

Previous: 0.6% / Consensus: 0.8%

Notes: The retail Sales released by the US Census Bureau measures the total receipts of retail stores. Monthly percent changes reflect the rate of changes of such sales. Changes in Retail Sales are widely followed as an indicator of consumer spending. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).

#END

UK Rightmove House Price Index (YoY)

Location: United Kingdom

Date: 15/07/2013

Time: 0:01 - 1:01

Strength: 2/3

Previous: 2.7%

Notes: The Rightmove House Price Index provides a sample of residential property prices in the UK. It shows the strength of the UK housing market, which can be considered as the economy as a whole due to property prices' sensitivity to changes in the business cycle. Generally speaking, a high reading is seen as positive, or bullish for the GBP, while a low reading is seen as negative, or bearish.

#END

US Producer Price Index (YoY)

Location: United States

Date: 12/07/2013

Time: 13:30 - 14:30

Strength: 2/3

Previous: 1.7% / Consensus: 2.1%

Notes: The Producer Price Index released by the Bureau of Labor statistics, Department of Labor measures the average changes in prices in primary markets of the US by producers of commodities in all states of processing. Changes in the PPI are widely followed as an indicator of commodity inflation. Generally speaking, a high reading is seen as positive (or bullish) for the USD, whereas a low reading is seen as negative (or bearish).

#END

US Producer Price Index ex Food & Energy (YoY)

Location: United States

Date: 12/07/2013

Time: 13:30 - 14:30

Strength: 2/3

Previous: 1.7% / Consensus: 1.6%

Notes: The Producer Price Index ex Food & energy released by the Bureau of Labor statistics, Department of Labor measures the average changes in prices in primary markets of the US by producers of commodities in all states of processing. Those volatile products such as food and energy are excluded in order to capture an accurate calculation. Generally speaking, a high reading is seen as positive (or bullish) for the USD, whereas a low reading is seen as negative (or bearish).

#END

EMU Industrial Production w.d.a. (YoY)

Location: European Monetary Union

Date: 12/07/2013

Time: 10:00 - 11:00

Strength: 2/3

Previous: -0.6% / Consensus: -1.3%

Notes: The Industrial Production is released by the Eurostat. It shows the volume of production of Industries such as factories and manufacturing. Up trend is regarded as inflationary which may anticipate interest rates to rise. Usually, if high industrial production growth comes out, this may generate a positive sentiment (or bullish) for the EUR, while low industrial production is seen as a negative sentiment (or bearish).

#END

US Fed's Bernanke Speech

Location: United States

Date: 10/07/2013

Time: 21:10 - 22:10

Strength: 2/3

Previous:

Notes: The fed Governor Ben Shalom Bernanke was born in 1953. He graduated from Harvard University and a Ph.D. in economics in 1979 from the Massachusetts Institute of Technology. In 2006 he became the Chairman of the Federal Reserve System. He gives a press conference as to how the Fed observes the current U.S. economy and the value of USD. His comments may determine a short-term positive or negative trend.

#END

US 10-Year Note Auction

Location: United States

Date: 10/07/2013

Time: 18:00 - 19:00

Strength: 2/3

Previous: 2.209%

Notes: Displayed in the calendar is the average yield on the notes auctioned by US Department of Treasury. US notes have maturities of 2, 3, 5, 7, and 10 years and pay interest every six months. The yield on the bonds represents the return an investor will receive by holding the bond until maturity. Investors monitor the yield volatility and compare the average rate at auction to the rate at previous auctions of the same security as an indicator of the government debt situation.

#END

US FOMC Minutes

Location: United States

Date: 10/07/2013

Time: 19:00 - 20:00

Strength: 3/3

Previous:

Notes: FOMC stands for The Federal Open Market Committee that organizes 8 meetings in a year and reviews economic and financial conditions, determines the appropriate stance of monetary policy and assesses the risks to its long-run goals of price stability and sustainable economic growth. FOMC Minutes are released by the Board of Governors of the Federal Reserve and are a clear guide to the future US interest rate policy.Review Alex Nekritin's Article - Trading the US Dollar with the FOMC Minutes

#END

DE Harmonised Index of Consumer Prices (YoY)

Location: Germany

Date: 10/07/2013

Time: 7:00 - 8:00

Strength: 2/3

Previous: 1.6% / Consensus: 1.9%

Notes: HICP is an index of consumer prices calculated and published by Destatis, the Statistical Office of the European Union, on the basis of a statistical methodology that has been harmonised across all EU member states. HICP is a measure of prices used by Governing Council of EU to define and assess price stability in the euro area as a whole in quantitative terms.

#END

DE Consumer Price Index (YoY)

Location: Germany

Date: 10/07/2013

Time: 7:00 - 8:00

Strength: 2/3

Previous: 1.5% / Consensus: 1.8%

Notes: The Germany consumer price index released by the Statistiches Bundesamt Deutschland measures the average price change for all goods and services purchased by households for consumption purposes. CPI is the main indicator to measure inflation and changes i

#END

UK Trade Balance; non-EU

Location: United Kingdom

Date: 09/07/2013

Time: 9:30 - 10:30

Strength: 2/3

Previous: -�3.414B / Consensus: -�3.500B

Notes: The trade balance released by National Statistics is a balance between exports and imports of total goods and services. A positive value shows trade surplus, while a negative value shows trade deficit. It is an event that generates some volatility for the GBP. If a steady demand in exchange for UK exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the GBP.Review Alex Nekritin's Article - Trading British Pound with UK Trade Balance

#END

UK Industrial Production (YoY)

Location: United Kingdom

Date: 09/07/2013

Time: 9:30 - 10:30

Strength: 2/3

Previous: -0.6% / Consensus: -1.5%

Notes: The Industrial Production released by The National Statistics measures outputs of the U.K. factories and mines. Changes in industrial production are widely followed as a major indicator of strength in the manufacturing sector. A high reading is seen as po

#END

UK RICS Housing Price Balance

Location: United Kingdom

Date: 08/07/2013

Time: 0:01 - 1:01

Strength: 2/3

Previous: 5% / Consensus: 10%

Notes: The RICS Housing Price Balance survey released by the Royal Institution of Chartered Surveyors presents housing costs in the UK. It shows the strength of the UK housing market, which can be considered as the economy as a whole, as the housing market is sensitive to the business cycle. A high reading is seen as positive (or bullish) for the GBP, while a low reading is seen as negative (or bearish).

#END

US Consumer Credit Change

Location: United States

Date: 08/07/2013

Time: 20:00 - 21:00

Strength: 2/3

Previous: $11.1B / Consensus: $12.2B

Notes: The Consumer Credit released by the Board of Governors of the Federal Reserve is an amount of money that individuals borrowed. It shows if consumers can afford large expenses, which can fuel economic growth. However, a high figure may also indicate that the economy is overheating, as consumers borrow in order to live beyond their means. A high reading is seen as positive (or Bullish) for the USD, whereas a low reading is seen as negative.

#END

EMU ECB President Draghi's Speech

Location: European Monetary Union

Date: 08/07/2013

Time: 15:30 - 16:30

Strength: 3/3

Previous:

Notes: The European Central Bank's president Mario Draghi was born in 1947 in Rome, Italy. Graduated of the Massachusetts Institute of Technology (MIT), Draghi became the president of the European Central Bank in 2011. As part of his job in the Governing Council he gives press conferences in the back of how the ECB observes the current European economy. President's comments may determine positive or negative the Euro's trend in the short-term. Usually, if he shows a hawkish outlook, that is seen as positive (or bullish) for the EUR, while a dovish is seen as negative (or bearish).

#END

DE Industrial Production s.a. w.d.a. (YoY)

Location: Germany

Date: 08/07/2013

Time: 11:00 - 12:00

Strength: 2/3

Previous: 1%

Notes: The Industrial Production released by the Federal Ministry of Economics and Technology, measures outputs of the German factories and mines. Changes in industrial production are widely followed as a major indicator of strength in the manufacturing sector. A high reading is seen as positive (or bullish) for the EUR, whereas a low reading is seen as negative (or bearish).

#END

EMU Sentix Investor Confidence

Location: European Monetary Union

Date: 08/07/2013

Time: 9:30 - 10:30

Strength: 2/3

Previous: -11.6 / Consensus: -10.0

Notes: With among 1600 financial analysts and institutional investors, the Sentix Investor Confidence is a monthly survey which shows the market opinion about the current economic situation and the expectations for the next semester. The index, released by the Sentix GmbH, is composed by 36 different indicators. Usually a higher reading is seen as positive for the Euro zone, that means positive, or bullish, for the Euro, While a lower number is seen negative or bearish for the unique currency.Review Alex Nekritin's Article - Trading Euro with ESI

#END

DE German Buba President Weidmann speech

Location: Germany

Date: 08/07/2013

Time: 10:30 - 11:30

Strength: 2/3

Previous:

Notes: Dr Jens Weidmann is the president of the Deutsche Bundesbank. He is member of the Governing Council of the ECB and has some responsabilities: Communication, Legal, Economics Research Centre...

#END

US Average Hourly Earnings (YoY)

Location: United States

Date: 05/07/2013

Time: 13:30 - 14:30

Strength: 2/3

Previous: 2%

Notes: The Average Hourly Earning released by the US Department of Labor is a significant indicator of labor cost inflation and of the tightness of labor markets. The Federal Reserve Board pays close attention to when setting interest rates. A high reading is also positive for the USD, while a low reading is negative.

#END

US Unemployment Rate

Location: United States

Date: 05/07/2013

Time: 13:30 - 14:30

Strength: 3/3

Previous: 7.6% / Consensus: 7.5%

Notes: The Unemployment Rate released by the US Department of Labor is the number of unemployed workers divided by the total civilian labor force. If the rate is up, it indicates a lack of expansion within the US economy. Therefore, a decrease of the figure is seen as positive (or bullish) for the USD, while an increase is seen as negative (or bearish).

#END

US Nonfarm Payrolls

Location: United States

Date: 05/07/2013

Time: 13:30 - 14:30

Strength: 3/3

Previous: 175K / Consensus: 165K

Notes: The nonfarm payrolls released by the US Department of Labor presents the number of people on the payrolls of all non-agricultural businesses. The monthly changes in payrolls can be excessively volatile. Generally speaking, a high reading is seen as positive (or bullish) for the USD, while a low reading is seen as negative (or bearish).

#END

US Average Hourly Earnings (MoM)

Location: United States

Date: 05/07/2013

Time: 13:30 - 14:30

Strength: 2/3

Previous: 0.0% / Consensus: 0.2%

Notes: The Average Hourly Earning released by the US Department of Labor is a significant indicator of labor cost inflation and of the tightness of labor markets. The Federal Reserve Board pays close attention to when setting interest rates. A high reading is also positive for the USD, while a low reading is negative.

#END

The 6am Cut

6am Cut London Posted 2013-07-05 05:42:46 by Kate Mackenzie Asian stocks rose, following strong gains in Europe, although weaker-than-expected earnings from Samsung weighed on the Kospi which fell 0.2%. The Nikkei and the Hang Seng both rose 1.5% and the ASX was 0.9% higher. (Financial Times)(Bloomberg) TODAY: US non-farm payrolls. Consensus forecast is for an increase of 165,000 jobs in June. (Financial Times) Samsung Q2 profits disappoint, despite record: In a preliminary estimate ahead of more detailed figures to be released later this month, Samsung said it expected to report operating profit for the period of Won9.3-9.7tn ($8.2-8.5bn), compared with Won8.8tn in the first quarter. Analysts polled by Bloomberg before the release produced a consensus forecast of Won10tn. Some analysts wondered whether the results meant the company's smartphone growth was peaking. (Financial Times)(Reuters) Morsi supporters plan rally today: "Islamist supporters of Egypt's ousted president, Mohamed Mursi, will rally on Friday to express their outrage at his overthrow by the army and to reject a planned interim government backed by their liberal opponents." (Reuters) Portugal's government avoids collapse: Prime minister Pedro Passos Coelho said he had received assurances yesterday of continued backing from the junior partner in his centre-right coalition, despite the resignation of its leader, Paulo Portas, as foreign minister. The two parties had "found a formula to maintain government stability", he said after hours of talks with Portas. Yields on the country's 10-year sovereign yields fell back to 7.19% from a high of 7.9% on Wednesday. (Wall Street Journal)(Financial Times) Greece's finance minister expressed optimism that talks with troika auditors will be concluded in time for next week's meeting of eurozone finance ministers that will decide whether to unlock further aid to the country. "We are heading for a political agreement on Monday," Yannis Stournaras said after a three-hour meeting with troika officials and prime minister Antonis Samaras. (Wall Street Journal) China suspends industry-specific data from official manufacturing PMIs: "We now have 3,000 samples in the survey, and from a technical point of view, time is very limited -- there are many industries, you know," Cai Jin, vice president of the China Federation of Logistics & Purchasing, which compiles the data with the National Bureau of Statistics, told reporters yesterday in Beijing. (Bloomberg) Asia-Pacific fund flows reported their first inflows in six weeks, showing investors are feeling more confident in the region after being spooked in late May by tapering talk. (FastFT) COMMENT AND CURIOS: - Gavyn Davies: We are all forward guiders, now. (Financial Times) - Martin Wolf: Despite massive expectations, Carney's BoE mission can succeed. (Financial Times) - Bruce McCullough and making economics less dismal. (Wall Street Journal) - Bard Harstad: Pay countries to keep fossil fuels in the ground. (Financial Times) - Worries mount for German Mittelstand. (Reuters) OVERNIGHT MARKETS: UP Asian markets Nikkei 225 up +224.99 (+1.60%) at 14,244 Topix up +16.41 (+1.40%) at 1,187 Hang Seng up +297.88 (+1.46%) at 20,767 US markets S&P 500 up +1.33 (+0.08%) at 1,615 DJIA up +56.14 (+0.38%) at 14,989 Nasdaq up +10.27 (+0.30%) at 3,444 European markets Eurofirst 300 up +28.09 (+2.44%) at 1,179 FTSE100 up +191.80 (+3.08%) at 6,422 CAC 40 up +107.30 (+2.90%) at 3,809 Dax up +164.99 (+2.11%) at 7,994 Currencies €/$ 1.29 (1.29) $/¥ 100.29 (100.03) £/$ 1.50 (1.51) Commodities ($) Brent Crude (ICE) down -0.10 at 105.44 Light Crude (Nymex) down -0.21 at 101.03 100 Oz Gold (Comex) down -9.20 at 1,243 Copper (Comex) down -0.05 at 3.12 10-year government bond yields (%) US 2.53% UK 2.38% Germany 1.65% CDS (closing levels) Markit iTraxx SovX Western Europe +2.03bps at 100.63bp Markit iTraxx Europe -4.62bps at 111.93bp Markit iTraxx Xover -18.68bps at 445.98bp Markit CDX IG -0.51bps at 85.44bp Sources: FT, Bloomberg, Markit
#END

EMU ECB Interest Rate Decision

Location: European Monetary Union

Date: 04/07/2013

Time: 12:45 - 13:45

Strength: 3/3

Previous: 0.5% / Consensus: 0.5%

Notes: ECB Interest Rate Decision is announced by the European central Bank. Usually, if the ECB is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the EUR. Likewise, if the ECB has a dovish view on the European economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.Review Alex Nekritin's Article - Trading the Euro with the ECB Rate Decision

#END

UK BoE Interest Rate Decision

Location: United Kingdom

Date: 04/07/2013

Time: 12:00 - 13:00

Strength: 3/3

Previous: 0.5% / Consensus: 0.5%

Notes: BoE Interest Rate Decision is announced by the Bank of England. If the BoE is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the GBP. Likewise, if the BoE has a dovish view on the U.K. economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.Review Alex Nekritin's Article - Trading British Pound with BoE Rate Decision

#END

UK BoE Asset Purchase Facility

Location: United Kingdom

Date: 04/07/2013

Time: 12:00 - 13:00

Strength: 3/3

Previous: �375B / Consensus: �375B

Notes: The Asset Purchase Facility is the value of money the BoE plans to create and inject into the economy through open market bond purchases as a way to influence long-term interest rates. This monetary policy tool is also called Quantitative Easing.

#END

The 6am Cut

6am Cut London Posted 2013-07-04 05:46:33 by Kate Mackenzie Asian stocks outside Japan rose after better than expected private sector US jobs data. Japanese stocks were slightly lower. The MSCI Asia Pacific was 0.2% higher in subdued trading ahead of today's July 4 holiday in the US. (Bloomberg)(Financial Times) US reacts cautiously to Morsi's ouster: A carefully-written statement issued by the White House on Wednesday evening about the ouster of Egyptian President Mohamed Morsi carefully avoided using the word "coup" or putting any label on the events. (Financial Times) Interviews for new RBS chief begin: "Sir Philip Hampton, chairman, has drawn up a list of four or five names and aims to finalise the process by the time of the bank's second-quarter results in a month's time, said people close to the exercise." (Financial Times) Peripheral bond yields jumped as investors grew nervous about the prospects of an early election in Portugal and another showdown between Greece and its creditors. In Portugal, Pedro Passos Coelho is struggling to hold his coalition together as political upheaval may undermine the country's efforts to exit its €78bn aid programme on schedule. A eurozone official said it was possible European finance ministers may decide on Monday to delay Greece's next aid instalment by three months, but added such a decision was unlikely. (Financial Times)(Reuters) China is considering a dramatic relaxation of its capital controls over the next few years as part of an accelerated push to make its currency freely tradable, despite international advisers warning against hasty implementation of reform. (Financial Times) Rupert Murdoch has dismissed investigations into phone hacking and other press abuses as "the biggest inquiry ever over next to nothing" in secretly recorded comments to Sun journalists that were broadcast on Channel 4. (Financial Times) NTT DoCoMo weighs overseas acquisitions: Kaoru Kato, DoCoMo's president and CEO, told the FT the group would consider buying assets outside Japan "if a good opportunity arose". (Financial Times) Sprint Nextel-Softbank deal said to meet FCC approval: "U.S. regulators on Wednesday collected the final vote to approve the merger of Sprint Nextel and SoftBank, sources familiar with the situation said, clearing the last hurdle in the Japanese company's drawn-out battle to take control of the No. 3 U.S. wireless provider." (Reuters) Russian oil shipments to Europe have slumped to a 10-year low, forcing refineries across the continent to pay more for scarce supplies. (Financial Times) COMMENT AND CURIOS: - Global fund managers are pulling money out of Chinese stocks in the largest outflow since 2008. (Wall Street Journal) - David Pilling: Japan is not ready for Abe's fourth arrow of consumption tax increase. (Financial Times) - Portugal's woes shine light on the rest of the eurozone periphery. (Reuters) OVERNIGHT MARKETS: MIXED Asian markets Nikkei 225 down -21.60 (-0.15%) at 14,034 Topix down -4.05 (-0.35%) at 1,170 Hang Seng up +353.88 (+1.76%) at 20,501 US markets S&P 500 up +1.33 (+0.08%) at 1,615 DJIA up +56.14 (+0.38%) at 14,989 Nasdaq up +10.27 (+0.30%) at 3,444 European markets Eurofirst 300 down -7.87 (-0.68%) at 1,151 FTSE100 down -74.07 (-1.17%) at 6,230 CAC 40 down -40.56 (-1.08%) at 3,702 Dax down -81.45 (-1.03%) at 7,829 Currencies €/$ 1.30 (1.30) $/¥ 99.82 (99.87) £/$ 1.53 (1.53) Commodities ($) Brent Crude (ICE) down -0.25 at 105.51 Light Crude (Nymex) up +0.01 at 101.25 100 Oz Gold (Comex) up +2.00 at 1,254 Copper (Comex) down -0.01 at 3.16 10-year government bond yields (%) US 2.50% UK 2.42% Germany 1.66% CDS (closing levels) Markit iTraxx SovX Western Europe +3.93bps at 98.6bp Markit iTraxx Europe +2.68bps at 116.55bp Markit iTraxx Xover +9.96bps at 464.66bp Markit CDX IG -0.51bps at 85.44bp Sources: FT, Bloomberg, Markit
#END

US Trade Balance

Location: United States

Date: 03/07/2013

Time: 13:30 - 14:30

Strength: 2/3

Previous: -$40.29B / Consensus: -$40.10B

Notes: The Trade Balance released by the Bureau of Economic Analysis and the U.S. Census Bureau is a balance between exports and imports of total goods and services. A positive value shows trade surplus, while a negative value shows trade deficit. It is an event that generates some volatility for the USD. If a steady demand in exchange for US exports is seen, that would turn into a positive growth in the trade balance, and that should be positive for the USD.Review Alex Nekritin's Article - Trading US Dollar with US Trade Balance

#END

US ADP Employment Change

Location: United States

Date: 03/07/2013

Time: 13:15 - 14:15

Strength: 2/3

Previous: 135K / Consensus: 160K

Notes: The Employment Change released by the Automatic Data Processing, Inc is a measure of the change in the number of employed people in the US. Generally speaking, a rise in this indicator has positive implications for consumer spending, stimulating economic growth. So a high reading is traditionally seen as positive, or bullish for the USD, while a low reading is seen as negative, or bearish.

#END

UK Markit Services PMI

Location: United Kingdom

Date: 03/07/2013

Time: 9:28 - 10:28

Strength: 2/3

Previous: 54.9 / Consensus: 54.5

Notes: The PMI service released by both the Chartered Institute of Purchasing & Supply and the Markit Economics is an indicator of the economic situation in the UK services sector. It captures an overview of the condition of sales and employment. It is worth noting that the UK service sector does not influence, either positively or negatively, the GDP as much as the Manufacturing PMI does. Traders want the highest possible reading as that will be taken as positive for the GBP. Any reading above 50 signals expansion, while a reading under 50 shows contraction.

#END

DE Markit Services PMI

Location: Germany

Date: 03/07/2013

Time: 8:53 - 9:53

Strength: 2/3

Previous: 49.7 / Consensus: 51.3

Notes: The Services PMI released by Markit Economics interviews German executives on the status of sales, employment, and their outlook. Because the performance of the German service sector is extremely consistent over time, services does not impact final GDP figures as much as the more volatile figure on the manufacturing sector. Any reading above 50 signals expansion, while a reading under 50 shows contraction.

#END

The 6am Cut

6am Cut London Posted 2013-07-03 05:31:35 by Kate Mackenzie Asian stocks fell and WTI crude oil rallied above $100for the first time in nine months on political turmoil in Egypt and shrinking US stockpiles. The Nikkei was 0.1% lower after rallying earlier in the day and the Hang Seng fell 1.9%. The yen, South Korea's won and Australia's dollar all fell and the US dollar strengthened against major currencies. (Bloomberg)(Reuters) TODAY: US ADP private employment figures; US initial jobless claims; European services PMIs. Egypt's Morsi defies army: In a rambling speech the president warned of bloodshed if he were removed. "Military sources told Reuters the army had drafted a plan to sideline Mursi and suspend the constitution after a 5 pm (1500 GMT) deadline passes." (Reuters)(Financial Times) Portuguese PM pledges to stay on amid threat of election: Pedro Passos Coelho says he will seek to establish a stable government despite the resignation of two key ministers and the threatened break-up of his ruling coalition. However, opposition parties called for an early general election, saying there was no possible solution for the governing coalition. (Financial Times) The Fed plans to introduce capital requirements that go beyond Basel III. At a board meeting yesterday in which the central bank agreed to force US banks comply with Basel III rules, it also outlined proposals including forcing the biggest banks to hold a higher leverage ratio, and capital charges targeted at banks most exposed to short-term wholesale funding. Officials have previously mentioned the ideas in speeches but not as firm policy goals. (Financial Times) Investors pulled a record $9.9bn from Pimco in June: It was the largest outflow in the 26-year history of Pimco's flagship Total Return bond fund. (Financial Times)(NYT Dealbook) China's services sector PMIs improved slightly in June, with the HSBC/Markit measure rising to 51.3 from 51.2 in May, but new orders sub-index was 50.5, its lowest since November 2008. (Reuters) "Moody's has placed the credit ratings of the three biggest US custody banks on review for a downgrade in a move that illustrates the continued pressure of record low interest rates on the businesses of some of the largest financial institutions. Bank of New York Mellon, Northern Trust and State Street would most likely see their ratings trimmed by one notch, Moody's said in a statement on Tuesday." (Financial Times) Former FBI head to lead BP compensation probe: Louis Freeh, a former FBI director, was appointed to investigate allegations of misconduct at the office administering compensation claims against BP for the 2010 Deepwater Horizon disaster after complaints from BP, which is paying higher levels of compensation than were expected. (Financial Times) National Australia Bank filed a $230m arbitration claim against Goldman Sachs: People familiar with the matter said the claim, filed with Finra in December, relates to Hudson 1, a $2bn CDO. A 2011 US Senate report on the causes of the financial crisis said Goldman began pitching Hudson 1 in October 2006 without disclosing in marketing materials that the firm also was betting against it. It would be among the biggest arbitration cases in recent years, according to Securities Arbitration Commentator. (Wall Street Journal) A US federal judge has approved HSBC's record $1.92bn settlement with federal and state investigators, over charges that it flouted rules on money laundering and transacting with countries under US sanctions. While noting "heavy public criticism" of the settlement, which enabled HSBC to escape criminal prosecution, US District Judge John Gleeson in Brooklyn, New York, called the decision to approve the accord "easy, for it accomplishes a great deal". (Reuters) China will probably miss its modest 2015 target for shale gas production, energy executives and analysts say. Meeting the target of 6.5bn cubic metres would require a 130-fold increase in 24 months. Complicated geology, lack of technical staff and regulations are thought to be the main barriers. (Financial Times) Oil companies won a US court case against new SEC rules that would force them to disclose payments to foreign governments. (Financial Times) COMMENT AND CURIOS: - Martin Wolf: Could China hit its stall speed? (Financial Times) - China's plans for financial reforms could lead to yet more instability. (Reuters) - What Ian Hannam is doing next. (Financial Times) - Some CFTC officials still fighting the agency's own new rules for trading abroad. (NYT Dealbook) - John Kay: Evolution, adaptation and economics. (Financial Times) - Is it the end of competitive politics in Japan? (Financial Times) - Why Brent is so high despite commodities fall. (Financial Times) - What will be the legacy of long-serving PBoC chairman Zhou? (Bloomberg) - Deutsche Borse plans to trade cloud computing capacity. (Financial Times) OVERNIGHT MARKETS: DOWN Asian markets Nikkei 225 down -15.27 (-0.11%) at 14,083 Topix up +1.24 (+0.11%) at 1,173 Hang Seng down -388.98 (-1.88%) at 20,270 US markets S&P 500 down -0.88 (-0.05%) at 1,614 DJIA down -42.55 (-0.28%) at 14,932 Nasdaq down -1.09 (-0.03%) at 3,433 European markets Eurofirst 300 down -4.81 (-0.41%) at 1,159 FTSE100 down -3.84 (-0.06%) at 6,304 CAC 40 down -24.91 (-0.66%) at 3,743 Dax down -73.15 (-0.92%) at 7,911 Currencies €/$ 1.30 (1.30) $/¥ 100.69 (100.62) £/$ 1.51 (1.52) Commodities ($) Brent Crude (ICE) up +0.80 at 104.80 Light Crude (Nymex) up +2.01 at 101.61 100 Oz Gold (Comex) up +3.70 at 1,247 Copper (Comex) unchanged 0.00 at 3.14 10-year government bond yields (%) US 2.47% UK 2.40% Germany 1.71% CDS (closing levels) Markit iTraxx SovX Western Europe -0.43bps at 94.67bp Markit iTraxx Europe -0.95bps at 113.87bp Markit iTraxx Xover -5.28bps at 454.7bp Markit CDX IG +1.46bps at 85.95bp Sources: FT, Bloomberg, Markit
#END

US FOMC Member Powell Speech

Location: United States

Date: 02/07/2013

Time: 22:45 - 23:45

Strength: 2/3

Previous:

Notes: Jerome H. Powell took office as FOMC member on May 25, 2012, to fill an unexpired term ending January 31, 2014. His comments may affect dollar, an therefore trigger a short term movement positive or negative trend.

#END

EMU Producer Price Index (YoY)

Location: European Monetary Union

Date: 02/07/2013

Time: 10:00 - 11:00

Strength: 2/3

Previous: -0.2% / Consensus: -0.3%

Notes: The Producer Price Index (PPI) released by the Eurostat is an index that measures the change in prices received by domestic producers of commodities in all stages of processing (crude materials, intermediate materials, and finished goods). Generally, a high reading is seen positive (or bullish) for the EUR, while a low reading is seen as negative (or bearish).

#END

UK PMI Construction

Location: United Kingdom

Date: 02/07/2013

Time: 9:30 - 10:30

Strength: 2/3

Previous: 50.8

Notes: The PMI Construction released by the Chartered Institute of Purchasing & Supply and Markit Economics shows business conditions in the UK construction sector. It is worth noting that the construction sector does not influence, either positively or negatively, the GDP as much as the Manufacturing sector does A result that values above 50 signals appreciates (or is bullish for ) the GBP, whereas a result that values below 50 is seen as negative (or bearish).

#END

The 6am Cut

6am Cut London Posted 2013-07-02 05:40:36 by Kate Mackenzie Asian stocks were mostly higher following encouraging US ISM manufacturing data and European PMIs released on Monday. The MSCI Asia Pacific was 0.7% higher but the Hang Seng fell 0.4%. (Financial Times)(Bloomberg) TODAY: US factory orders for May; US vehicle sales for June. Rothschild to advise on RBS split: The US government has moved quickly to appoint advisers on the potential split of RBS, with Rothschild set to be named to run the assessment. Rothschild saw off competition from Deutsche Bank and BAML at presentations last week, and its role could be announced as soon as this week, according to people close to the situation. (Financial Times) Australia's central bank left rates on hold, as widely expected: The RBA board held the cash rate at 2.75%, with the governor noting the economy was growing "a bit below trend", but the Australian dollar may continue to fall, which would help rebalance the economy. (Statement) China's credit freeze deliberate, and just badly executed? "The People's Bank of China instigated the cash shortages that catapulted Chinese interest rates to nosebleed highs during the past two weeks because the central bank felt it had no alternative amid what it saw as out-of-control credit growth," says the WSJ, citing an internal PBOC document. However it adds the message was poorly communicated, underlined by the propaganda authorities' efforts to 'tone down' reporting of the cash crunch. (Wall Street Journal)(Financial Times) Japanese pension fund buys into US electricity: "One of Japan's biggest pension funds has joined a Canadian partner to buy a $2bn electricity plant in Michigan, said people familiar with the deal. The investment, which is the first infrastructure acquisition by a Japanese public pension fund, is a sign that the country's massive pension-fund industry is diversifying outside traditional assets such as government bonds." (Financial Times) Noble Corporation eyes move to UK: "Noble Corporation, one of the world's largest offshore drilling contractors, plans to relocate from Switzerland to the UK to benefit from its less restrictive corporate law." The company relocated from the US to Switzerland in 2009. (Financial Times) COMMENT AND CURIOS: - The Winklevoss Bitcoin Trust. For realz. (FT Alphaville) - Chinese banks' valuations are close to their lowest on record after the interbank funding crisis. (Bloomberg) -- Bail-in fears grow for big depositors in euro periphery. (Financial Times) - LME takes aim at warehousing queues that have helped boost profits of Goldman, Glencore, Trafigura. (Financial Times) - The JLo/Turkmenistan/China/oil connection. (Wall Street Journal) - Ruchir Sharma: Back to booms, busts and protests in EMs. (Financial Times) - Japanese husbands' monthly allowance at lowest level since 1982. (Bloomberg) - What the AUD's means for commodities. (Financial Times) - Japan's banks are still addicted to government bonds. (Bloomberg) OVERNIGHT MARKETS: UP Asian markets Nikkei 225 up +125.28 (+0.90%) at 13,978 Topix up +12.63 (+1.10%) at 1,163 Hang Seng down -81.78 (-0.39%) at 20,722 US markets S&P 500 up +8.68 (+0.54%) at 1,615 DJIA up +65.36 (+0.44%) at 14,975 Nasdaq up +31.24 (+0.92%) at 3,434 European markets Eurofirst 300 up +11.41 (+0.99%) at 1,164 FTSE100 up +92.31 (+1.49%) at 6,308 CAC 40 up +28.57 (+0.76%) at 3,767 Dax up +24.70 (+0.31%) at 7,984 Currencies €/$ 1.31 (1.31) $/¥ 99.53 (99.65) £/$ 1.52 (1.52) Commodities ($) Brent Crude (ICE) down -0.07 at 102.93 Light Crude (Nymex) down -0.16 at 97.83 100 Oz Gold (Comex) up +0.90 at 1,257 Copper (Comex) unchanged 0.00 at 3.15 10-year government bond yields (%) US 2.49% UK 2.44% Germany 1.72% CDS (closing levels) Markit iTraxx SovX Western Europe -1.3bps at 95.1bp Markit iTraxx Europe -4.79bps at 114.82bp Markit iTraxx Xover -16.87bps at 459.98bp Markit CDX IG -3.01bps at 84.49bp Sources: FT, Bloomberg, Markit
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US Construction Spending (MoM)

Location: United States

Date: 01/07/2013

Time: 15:00 - 16:00

Strength: 2/3

Previous: 0.4% / Consensus: 0.7%

Notes: The Construction Spending released by the US Census Bureau is an indicator that measures the total amount of spending in the US on all types of construction. The residential construction component is useful for predicting future national new home sales and mortgage origination volume. A high reading is seen as positive, or bullish for the USD, while a low reading is seen as negative, or bearish.

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US ISM Prices Paid

Location: United States

Date: 01/07/2013

Time: 15:00 - 16:00

Strength: 2/3

Previous: 49.5 / Consensus: 51.3

Notes: The Institute for Supply Management ( ISM ) Manufacturing Index shows business conditions in the US manufacturing sector, taking into account expectations for future production, new orders, inventories, employment and deliveries

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US ISM Manufacturing PMI

Location: United States

Date: 01/07/2013

Time: 15:00 - 16:00

Strength: 2/3

Previous: 49.0 / Consensus: 50.1

Notes: The Institute for Supply Management (ISM) Manufacturing Index shows business conditions in the US manufacturing sector It is a significant indicator of the overall economic condition in US. A result above 50 is seen as positive (or bullish) for the USD, whereas a result below 50 is seen as negative (or bearish).

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US Markit Manufacturing PMI

Location: United States

Date: 01/07/2013

Time: 13:58 - 14:58

Strength: 2/3

Previous:

Notes: The Manufacturing Purchasing Managers Index (PMI) released by the Markit Economics captures business conditions in the manufacturing sector. As the manufacturing sector dominates a large part of total GDP, the manufacturing PMI is an important indicator of business conditions and the overall economic condition in the United States. Readings above 50 imply the economy is expanding, making investors understood it as a bullish for the USD, whereas a result below 50 points for an economic contraction, and weighs negatively on the currency.

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EMU Consumer Price Index - Core (YoY)

Location: European Monetary Union

Date: 01/07/2013

Time: 10:00 - 11:00

Strength: 3/3

Previous: 1.2%

Notes: The core Consumer Price Index released by Eurostat is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services excluding the volatile components like food, energy, alcohol and tobacco. The core CPI is a key indicator to measure inflation and changes in purchasing trends. Generally, a high reading is seen as positive or bullish for the EUR, while a low reading is seen as negative.

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EMU Consumer Price Index (YoY)

Location: European Monetary Union

Date: 01/07/2013

Time: 10:00 - 11:00

Strength: 3/3

Previous: 1.4% / Consensus: 1.5%

Notes: The Euro Zone CPI released by the Eurostat captures the changes in the price of goods and services. The CPI is a significant way to measure changes in purchasing trends and inflation in the Euro Zone. Generally, a high reading anticipates a hawkish attitude which will be positive (or bullish) for the EUR, while a low reading is seen as negative (or bearish).

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UK Consumer Credit

Location: United Kingdom

Date: 01/07/2013

Time: 9:30 - 10:30

Strength: 2/3

Previous: �0.524B

Notes: The Consumer Credit released by the Bank of England is an amount of money that individuals borrowed in the previous month. It shows if consumers can afford large expenses, which can fuel economic growth. However, a high figure may also indicate that the economy is overheating, as consumers borrow in order to live beyond their means. A high reading is seen as positive for the GBP, whereas a low reading is seen as negative.

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UK Net Lending to Individuals (MoM)

Location: United Kingdom

Date: 01/07/2013

Time: 9:30 - 10:30

Strength: 2/3

Previous: �1.4B

Notes: UK Net Lending to Individuals released by the Bank of England is a monthly measure of growth rates, amounts outstanding and changes in total lending to individuals, divided into lending secured on dwellings and consumer credit. It shows a picture of whether or not consumers are willing to spend money. A high reading is positive for the GBP, while a low reading is negative.

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UK Mortgage Approvals

Location: United Kingdom

Date: 01/07/2013

Time: 9:30 - 10:30

Strength: 2/3

Previous: 53.71K

Notes: The Mortgage Approvals released by the Bank of England presents the number of various Mortgage Approvals. It is considered as a leading indicator of the U.K. Housing Market. A Mortgage growth represents a healthy housing market that stimulates the overall U.K. economy. Generally, a high reading is seen as positive ( or bullish ) for the GBP, while a low reading is seen as negative (or bearish )

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UK Markit Manufacturing PMI

Location: United Kingdom

Date: 01/07/2013

Time: 9:28 - 10:28

Strength: 2/3

Previous: 51.3

Notes: The Manufacturing Purchasing Managers Index (PMI) released by both the Chartered Institute of Purchasing & Supply and the Markit Economics captures business conditions in the manufacturing sector. As the manufacturing sector dominates a large part of total GDP, the Manufacturing PMI is an important indicator of business conditions and the overall economic condition in UK. A result above 50 signals is bullish for the GBP, whereas a result below 50 is seen as bearish.

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DE Markit Manufacturing PMI

Location: Germany

Date: 01/07/2013

Time: 8:53 - 9:53

Strength: 2/3

Previous: 49.4 / Consensus: 48.7

Notes: The Manufacturing Purchasing Managers Index (PMI) released by Markit Economics captures business conditions in the manufacturing sector. As the manufacturing sector dominates a large part of total GDP, the Manufacturing PMI is an important indicator of business conditions and the overall economic condition in Germany. Normally, a result above 50 signals is bullish for the EUR, whereas a result below 50 is seen as bearish.

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The 6am Cut

6am Cut London Posted 2013-07-01 05:41:44 by Kate Mackenzie Asian stocks outside Japan fell, after the official Chinese manufacturing PMI for June was only just in expansionary territory. However the Japanese Tankan business survey was slightly stronger than expected, boosting Japanese stocks. The yen weakened 0.2%. The MSCI Asia Pacific fell 0.2%. (Bloomberg)(Financial Times) The official Chinese manufacturing PMI fell to 50.1 last month from 50.8 in May. It was the lowest reading in four months and just slightly above expectations. Meanwhile the final HSBC/Markit PMI for June was confirmed at 48.2, the lowest level since September 2012 and down from May's final reading of 49.2. It was in line with a preliminary reading of 48.3 released on June 20. (Financial Times)(Reuters) Optimism outweighed pessimism for Japan's big manufacturers for the first time since September 2011, the country's Tankan survey showed. The survey results for the June quarter were +4 compared to a median economists' estimate of +3 in a Bloomberg survey. "Large companies from all industries plan to increase capital spending 5.5% in the year through March 2014." (Bloomberg) Kuwait plans $5bn UK investment: "The Kuwait Investment Authority is seeking to invest as much as $5bn directly over the next three to five years in infrastructure assets mostly in the UK, echoing asimilar move by Qatar." (Financial Times) Onyx rejects Amgen offer: "Cancer drugmaker Onyx Pharmaceuticals said on Sunday it rejected a roughly $10 billion takeover offer from larger biotechnology company Amgen as too low but still is considering selling itself." (Reuters) Samsung takes lion's share of European smartphones; Android dominates: Almost half of all smartphones sold in major European markets in recent months have been made by Samsung, and Android-based smartphones accounted for more than 70% of sales in the top five European markets in the three months to the end of May, compared with 61% in the same period the year before. (Financial Times) Apple did not pay UK corporation tax last year, according to its latest filings. (Financial Times) COMMENT AND CURIOS: - It's Mark Carney's first day at the BoE, and expectations are high. (Financial Times) - Wolfgang Münchau: The EU will regret terminating banking union plans. (Financial Times) - Investors are moving out of cash, and into bonds. (Financial Times) - Clues to bond market outlook are in who's moving to cash. (Bloomberg) - Bob Geldof says funds management 'criminally non-innovative'. (FTfm) - Apple's great leap into the market of China Mobile's customers. (Wall Street Journal) OVERNIGHT MARKETS: MIXED Asian markets Nikkei 225 up +8.15 (+0.06%) at 13,685 Topix up +9.58 (+0.84%) at 1,143 Hang Seng up +363.21 (+1.78%) at 20,803 US markets S&P 500 down -6.92 (-0.43%) at 1,606 DJIA down -114.89 (-0.76%) at 14,910 Nasdaq up +1.39 (+0.04%) at 3,403 European markets Eurofirst 300 down -5.25 (-0.45%) at 1,152 FTSE100 down -27.93 (-0.45%) at 6,215 CAC 40 down -23.28 (-0.62%) at 3,739 Dax down -31.53 (-0.39%) at 7,959 Currencies €/$ 1.30 (1.30) $/¥ 99.32 (99.12) £/$ 1.52 (1.52) Commodities ($) Brent Crude (ICE) down -0.21 at 101.95 Light Crude (Nymex) down -0.16 at 96.40 100 Oz Gold (Comex) up +10.90 at 1,235 Copper (Comex) up +0.01 at 3.06 10-year government bond yields (%) US 2.51% UK 2.44% Germany 1.73% CDS (closing levels) Markit iTraxx SovX Western Europe +0.08bps at 96.4bp Markit iTraxx Europe +2.53bps at 119.61bp Markit iTraxx Xover +4.06bps at 476.85bp Markit CDX IG +1.56bps at 87.5bp Sources: FT, Bloomberg, Markit
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