8/7/2019 SG_Economic-Calendar
1/23
Note: This calendar only provides general inormation and it is not meant to be a trading guide. Dates are subject to change. GFT cannot be held responsible
or the eventual inaccuracies that might occur. Visit our website at gtasia.com. 2010 Global Futures & Forex, Ltd. All rights reserved.
PLUS: A 2011 FORECAST FROM GFTS
DAVID MORRISON, KATHY LIEN AND
BORIS SCHLOSSBERG.Track the progress o markets in 2011. Read what our analysts
orecast and then see when economic indicators, such as the
Gross Domestic Product, Producer Prices, Consumer Conidence
and others, will be announced.
Q3Q4
Q2Q1
This inormation is made available to you by or or GFT Global Markets Asia Pte. Ltd. (Unique Entity Number 200717665N). The contents hereo is available or accessible or inormational purposes only and is not to be regarded as an oer or a solicitation to
deal in any investment product or to enter into any legal relations, nor an advice or a recommendation with respect to such investment product.
The inormation provided here should not be relied upon as a substitute or extensive independent research beore making your investment decisions. GFT is merely providing this inormation or your general inormation and the inormation does not take into
account any particular individuals investment objectives, inancial situation, or needs. All investors should obtain advice based on their unique situation beore making any investment decision based upon any inormation contained within. Trading o oreign
exchange contracts and other investment products, which are leveraged, can carry a high level o risk, and may not be suitable or all investors. It is possible to lose more than the initial investment.
http://www.gftasia.com/8/7/2019 SG_Economic-Calendar
2/23
KATHY AND BORIS2011 MARKET FORECAST
Bs ShlssbGFTs Director of Currency Research
Kahy LGFTs Director of Currency Research
RECOVERY OR DOUBLE-DIP
RECESSION IN 2011?
2010 was a roller coaster year in the currency markets, marked by the sovereign debt
crisis in Europe, sluggish economic activity in the US and strong growth in Asia Paciic,
which helped to propel the oth er advanced economies orward. As the new year begins,
the global economy will need to rebalance in order to maintain momentum into 2 011.
Thereore, the central question acing currency traders is whether G10 economies
can make the proper adjustments - or i theyll ace the possibility o a double-dip
recession.
Continued on next page
The inormation provided here should not be relied upon as a substitute or extensive independent research beore making
your investment decisions. GFT is merely providing this inormation or your general inormation and the inormation
does not take into account any particular individuals investment objectives, inancial situation, or needs. All investors
should obtain advice based on their unique situation beore making any investment decision based upon any inormation
contained within. Trading o oreign exchange contracts and other investment products, which are leveraged, can carry
a high level o risk, and may not be suitable or all investors. It is possible to lose more than the initial investment. The
views o the author are not necessarily those o GFT, its owners, oicers, agents or employees. This presentation does not
constitute a recommendation to ollow a particular trading strategy. All trades should be considered careully with your
personal trading strategy, including risk tolerance. In addition, any projections or views o the market provided by the
author may not prove to be accurate.
8/7/2019 SG_Economic-Calendar
3/23
Chinas status is also important or Europe. Strong demand rom China is crucial to
German economic success in 2011. Europes largest economy is an export powerhouse,
relying on this sector to generate its growth. Given the sovereign debt problems around
it, the euro zone aces an enormous risk in 2011 i German growth slows. Germany
is the primary source o capital or most o the bailout rescues the EU engineered in
2010. Without a robust German economy, the monetary union o the euro zone could
ragment as economies like Greece, Ireland, Portugal and Spain meet increasingly
hostile capital markets and are unable to inance their budgets.
US EMPLOYMENT GROwTH KEY ISSUE
The key issue in the US remains employment growth. The US economy lagged in 2010,
especially as the countrys unemployment rate remained stubbornly close to the 10
percent level. However, US labour conditions showed some improvement at the end o
2010, as job creation turned positive or the irst time in ive months. I job growth picks
up, the US economy, which is highly leveraged to consumer spending, could prove to be
the economic surprise o 2011. The greenback could stage a sustained rally, especially
against the Japanese yen, as US yields begin to rise.
As 2011 begins, each G10 region aces its own unique ch allenges - but China remains the
critical actor in determining growth or Asia, Europe and North America. Although the
worlds ourth largest economy does not even have a ree-loating currency, its impact
on the oreign exchange market remains immense.
CHINAS TIGHTENING MONETARYPOLICY COULD HAVE GLOBALRAMIFICATIONS
The excess liquidity rom the Federal Reserves aggressive monetary policy, which
provided an additional $600 billion o quantitative easing, produced stronginlationary pressures in China. Chinese ood prices, which make up a large part o
an average consumers budget, skyrocketed by more than 70 percent. This orced
Chinese monetary authorities to tighten policy. The bearish scenario or 2011 is
that by trying to curb inlation, China will be orced to slow down its double-
digit GDP growth. This could have massive negative ramiications throughout the
industrialised world.
The commodity dollar economies are the most vulnerable to such an outcome,
especially Australia. The Australian dollar, which almost hit parity with the
greenback by the end o 2010, could see a major correction i China tightens.
However, i China is able to control inlationary pressures while maintaining itsdouble-digit growth, the recovery trade should continue into 2011, helping to
support risk currencies.
KATHY AND BORIS2011 MARKET FORECAST
The inormation provided here should not be relied upon as a substitute or extensive independent research beore making your investment decisions. GFT is merely providing this inormation or your general inormation and the inormation does
not take into account any particular individuals investment objectives, inancial situation, or needs. All investors should obtain advice based on their unique situation beore making any investment decision based upon any inormation contained
within. Trading o oreign exchange contracts and other investment products, which are leveraged, can carry a high level o risk, and may not be suitable or all investors. It is possible to lose more than the initial investment. The views o the
author are not necessarily those o GFT, its owners, oicers, agents or employees. This presentation does not constitute a recommendation to ollow a particular trading strategy. All trades should be considered careully with your personal trading
strategy, including risk tolerance. In addition, any projections or views o the market provided by the author may not prove to be accurate.
8/7/2019 SG_Economic-Calendar
4/23
DAVID MORRISONS2011 MARKET FORECAST
Dad MsGFTs CFD Market Strategist
EURO ZONES DEBT ISSUES
CONTINUE IN 2011
2011 could prove to be an extraordinary year or inancial markets. For equities, the
best outcome would be to have a similar year to 2010. However, that would require a
number o serious problems to be successully resolved, or or policymakers to duck out
o making unpopular decisions and, once again, brush t he issues under the carpet. This
is becoming more diicult, as its increasingly apparent we are still struggling with the
allout rom the inancial crisis.
In the last quarter o 2010, the euro zones sovereign debt issues were a major ocus
or investors. These are likely to remain centre-stage as the solvency o many European
banks is increasingly questioned. While there appear to be unds available rom the
European Financial Stability Facility to rescue the smaller eurozone members, such
as Greece, Ireland and Portugal, there is danger o a sharp political backlash. German
taxpayers are already urious at being orced to bail out their weaker (and proligate)
neighbours, and they are likely to revolt should rising tensions spread to Spain.
Continued on next page
The inormation provided here should not be relied upon as a substitute or extensive independent research beore making
your investment decisions. GFT is merely providing this inormation or your general inormation and the inormation
does not take into account any particular individuals investment objectives, inancial situation, or needs. All investors
should obtain advice based on their unique situation beore making any investment decision based upon any inormation
contained within. Trading o oreign exchange contracts and other investment products, which are leveraged, can carry
a high level o risk, and may not be suitable or all investors. It is possible to lose more than the initial investment. The
views o the author are not necessarily those o GFT, its owners, oicers, agents or employees. This presentation does not
constitute a recommendation to ollow a particular trading strategy. All trades should be considered careully with your
personal trading strategy, including risk tolerance. In addition, any projections or views o the market provided by the
author may not prove to be accurate.
8/7/2019 SG_Economic-Calendar
5/23
THE IMPACT OF THE FEDSQUANTITATIVE EASING PROGRAMME
Turning to the US, the Federal Reserves latest quantitative easing programme
(QE2) is due to end in June. The central bank has been strongly criticised or this
intervention, both at home and abroad. Without a rise in inlation and a all in
unemployment by the end o the irst quarter, QE2 will be deemed a ailure. This
would make it extremely diicult or the Fed to justiy extending the programme.
There is another danger. I the Fed is successul in boosting inlationary
expectations, then we can expect a rise in bond yields. At this stage, the central
bank would need to reduce its balance sheet by selling Treasuries and sucking
surplus dollars out o the inancial system. But, it will be selling into a market
where everyone else wants to sell as well. Ater all, i inlation is rising, bonds
become an unattractive investment proposition. This could see US Treasuries slump
and yields soar. The eect o higher yields on the ragile US housing market would
be disastrous.
So the Fed is walking a t ightrope, while painully aware that this monetary
experiment has never been tried beore. On top o this, the ho using market
remains in a critical state, with many US homeowners owing more on their
mortgage than their property is worth. The oreclosure mess needs to be resolved,
while allegations o raud swirl around the market or mortgage-backed securities.
No wonder investors are increasingly pouring their capital into the sae havens o
gold and silver.
DAVID MORRISONS2011 MARKET FORECAST
The inormation provided here should not be relied upon as a substitute or extensive independent research beore making
your investment decisions. GFT is merely providing this inormation or your general inormation and the inormation
does not take into account any particular individuals investment objectives, inancial situation, or needs. All investors
should obtain advice based on their unique situation beore making any investment decision based upon any inormation
contained within. Trading o oreign exchange contracts and other investment products, which are leveraged, can carry
a high level o risk, and may not be suitable or all investors. It is possible to lose more than the initial investment. The
views o the author are not necessarily those o GFT, its owners, oicers, agents or employees. This presentation does not
constitute a recommendation to ollow a particular trading strategy. All trades should be considered careully with your
personal trading strategy, including risk tolerance. In addition, any projections or views o the market provided by the
author may not prove to be accurate.
8/7/2019 SG_Economic-Calendar
6/23
8/7/2019 SG_Economic-Calendar
7/23
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27
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Note: This calendar only provides general inormation and it is not meant to be a trading guide. Dates are subject to change. GFT cannot be held responsible
or the eventual inaccuracies that might occur. Visit our website at gtasia.com. 2010 Global Futures & Forex, Ltd. All rights reserved.
FEBRUARY2011
Volatile Market Event Select Markets Closed
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mARcH2011
Volatile Market Event Select Markets Closed
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9/23
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Note: This calendar only provides general inormation and it is not meant to be a trading guide. Dates are subject to change. GFT cannot be held responsible
or the eventual inaccuracies that might occur. Visit our website at gtasia.com. 2010 Global Futures & Forex, Ltd. All rights reserved.
APRil2011
Volatile Market Event Select Markets Closed
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10/23
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Note: This calendar only provides general inormation and it is not meant to be a trading guide. Dates are subject to change. GFT cannot be held responsible
or the eventual inaccuracies that might occur. Visit our website at gtasia.com. 2010 Global Futures & Forex, Ltd. All rights reserved.
mAY2011
Volatile Market Event Select Markets Closed
GFT EcoNomic cAlENdAR ALL eventS AccorDing to gMt
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11/23
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Note: This calendar only provides general inormation and it is not meant to be a trading guide. Dates are subject to change. GFT cannot be held responsible
or the eventual inaccuracies that might occur. Visit our website at gtasia.com. 2010 Global Futures & Forex, Ltd. All rights reserved.
JUNE2011
Volatile Market Event Select Markets Closed
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12/23
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Note: This calendar only provides general inormation and it is not meant to be a trading guide. Dates are subject to change. GFT cannot be held responsible
or the eventual inaccuracies that might occur. Visit our website at gtasia.com. 2010 Global Futures & Forex, Ltd. All rights reserved.
JUlY2011
Volatile Market Event Select Markets Closed
GFT EcoNomic cAlENdAR ALL eventS AccorDing to gMt
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13/23
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2014
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Note: This calendar only provides general inormation and it is not meant to be a trading guide. Dates are subject to change. GFT cannot be held responsible
or the eventual inaccuracies that might occur. Visit our website at gtasia.com. 2010 Global Futures & Forex, Ltd. All rights reserved.
AUGUST2011
Volatile Market Event Select Markets Closed
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14/23
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Note: This calendar only provides general inormation and it is not meant to be a trading guide. Dates are subject to change. GFT cannot be held responsible
or the eventual inaccuracies that might occur. Visit our website at gtasia.com. 2010 Global Futures & Forex, Ltd. All rights reserved.
SEPTEmBER2011
Volatile Market Event Select Markets Closed
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15/23
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30 31
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Note: This calendar only provides general inormation and it is not meant to be a trading guide. Dates are subject to change. GFT cannot be held responsible
or the eventual inaccuracies that might occur. Visit our website at gtasia.com. 2010 Global Futures & Forex, Ltd. All rights reserved.
ocToBER2010
US Chicago Purchasing Manager 13:45US Bloomberg FCI Monthly 20:15
CHF and NZD Market Closed
Volatile Market Event Select Markets Closed
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16/23
1 2 310
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Note: This calendar only provides general inormation and it is not meant to be a trading guide. Dates are subject to change. GFT cannot be held responsible
or the eventual inaccuracies that might occur. Visit our website at gtasia.com. 2010 Global Futures & Forex, Ltd. All rights reserved.
NoVEmBER2011
Volatile Market Event Select Markets Closed
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17/23
1 2 310
1711
1825
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1926
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2223242930 31
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or the eventual inaccuracies that might occur. Visit our website at gtasia.com. 2010 Global Futures & Forex, Ltd. All rights reserved.
dEcEmBER2011
Volatile Market Event Select Markets Closed
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18/23
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Note: This calendar only provides general inormation and it is not meant to be a trading guide. Dates are subject to change. GFT cannot be held responsible
or the eventual inaccuracies that might occur. Visit our website at gtasia.com. 2010 Global Futures & Forex, Ltd. All rights reserved.
GloSSARY
ADP emplym (US)
This measures non-arm private employment in the U.S. labour market. As a payrollservices company that pays 1-in-6 private sector employees every pay period
across a broad range o industries, ADP and its report are widely respected by
traders. This release is oten used to orecast other reports.
B Bk (US)Compiled by the Federal Reserve, this summary compiles the economic issues and
conditions o interest to bankers, businesses and other proessionals in the 12 U.S.
Federal districts. Traders are interested in this report as the Federal Open Market
Committee (FOMC) will use inormation in this report when determining interest
rate changes.
Busss isThis gure reports the total value o inventory held by retailers, wholesalers,
manuacturers and other companies and compares it to previously reported
numbers. The Business Inventories release oten provides an indication o the state
o an economy. Nonetheless, this number should be considered careully. While
rising inventories may be negative in a weak economy, they may also be a positive
sign in a growing economy.
cha S SalsThis report measures and compares the sales perormance o retail chain stores
in the U.S. Traders use this report to gauge other reports, such as consumer
condence.
cha PMi (US)This index usually surveys purchasing managers in a region on business conditions
and the economy; the Chicago PMI surveys managers in Illinois, Indiana and
Michigan. Traders mainly use this report to anticipate the results o the ISM
Manuacturing release. Usually, rising numbers mean the value o the U.S. dollar
may jump.
csu Spd
This calculates the total amount o money spent by the construction industry in aparticular country or region. Construction data usually has an impact on a variety
o statistics that contribute to the whole economy.
csum cdConsumer spending is a major component o a country or regions GDP; naturally,
traders want to be able to gauge how consumers currently eel about the economy.
This report surveys consumers about their nancial situation as well as their ability
to buy and compiles this data in this release.
csum cdThis provides a breakdown o the total value o outstanding credit debt held by
consumers. This gure includes non-mortgage credit that is paid in installments.
Consumer credit is related to consumer condence.
csum PsThis is one o the central measures o ination. Rising prices mean consumers need
to spend more money to purchase basics, like ood, uel, housing, and clothing. This
can have an exponential impact on products as price increases propagate through
the economy. This report measures the average price o products, compares them to
previous reports, and examines actors that may have contributed to their change.
cu Au
Current account is the combined total o a countrys trade balance (goods and services
imported to those exported), income payments (such as salaries or investment
income) and transers (such as taxes or aid). Positive numbers suggest a current
account surplus meaning that capital is staying in or entering the economy. This is
viewed as positive or the currency. Negative numbers suggest that capital is exiting
into the economies o other countries, which is negative or an economy.
You may have looked at the announcements in this calendar and wondered, What
kind o impact does that event have on the market? Thats why we included this
list o announcements and a brie explanation o what they are below.
A-C
GFT EcoNomic cAlENdAR ALL eventS AccorDing to gMt
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19/23
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Note: This calendar only provides general inormation and it is not meant to be a trading guide. Dates are subject to change. GFT cannot be held responsible
or the eventual inaccuracies that might occur. Visit our website at gtasia.com. 2010 Global Futures & Forex, Ltd. All rights reserved.
Duabl gds
This totals the value o new purchase orders (P.O.s) placed with manuacturers orgoods made to last more than three years. A alling number usually has a negative
efect on a currency.
emp Sa Suy (US)This survey measures the sentiments o manuacturing executives in New York
state on business conditions and the economy. Usually, rising numbers mean the
value o the U.S. dollar may jump.
emplymThis reports statistics on the number o people in a country or region looking or
work, and/or ling or assistance. Employment is measured diferently by country
or region. Improved or positive employment numbers are positive or any economyand its currency.
emplym cs idx (eci) (US)
This report compiles changes in wages, salaries and employer costs or employee
benets and calculates the change in the cost o labour. Rising or alling numbers
can indicate diferent things, depending on the state o the economy.
Fay ods
When the economy o a country or region is growing, manuacturers are busy and
sell more products. This gure reports the total value o orders placed at actories
and compares that to previously reported numbers. Stronger actory orders are
positive or a currency.
Fd Suy (US)
These surveys rate the sentiments o manuacturing executives in a particular
area on the state o the industry. This calendar reports on ve regions: Chicago,
Dallas, Kansas City, Philadelphia and Richmond. These reports are primarily used to
orecast other gures. Improving numbers in a Fed Survey should exhibit improved
manuacturing conditions, liting the U.S. dollar.
FHFA HPi (Fdal Hus Fa Ay Hus P idx)
(US)This measures the change in the price o single-amily houses. Housing statistics
usually have an impact on a variety o statistics that contribute to the whole economy.
gDP
This combines a countrys private consumption, capital investment, government
expenditures and current account (the diference between exports and imports).
GDP data is extremely important to an economy as it has an impact on the value o a
countrys currency.
Hus Sas
This report looks at the number o newly constructed residential buildings.
Construction data usually has an impact on a variety o statistics that contribute to thewhole economy.
Hus vaas (US)This calculates the number o vacant, single- and multi-amily housing units on the
market. This number is broken down by region, state and metropolitan area. Traders
are interested as it has an impact on a variety o statistics that contribute to the whole
economy.
idusal PduThis measures the production levels o the largest industries (manuacturing, mining
and energy supply) in a country or region. For traders, this provides an indication
o industry activity and GDP. Industrial Production is also used by governments and
central banks to set monetary policies, which also interests traders.
ifaThis measures the change in consumer prices compared to the previous years prices.
Rising prices mean consumers need to spend more money to purchase basics, like
ood, uel, housing, and clothing. This can have an exponential impact on products as
price increases propagate through the economy.
D-F
G-J
GloSSARYGFT EcoNomic cAlENdAR ALL eventS AccorDing to gMt
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20/23
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Note: This calendar only provides general inormation and it is not meant to be a trading guide. Dates are subject to change. GFT cannot be held responsible
or the eventual inaccuracies that might occur. Visit our website at gtasia.com. 2010 Global Futures & Forex, Ltd. All rights reserved.
imp Ps
This tracks the change in the prices o goods being imported into a country orregion. The value o goods being imported provides an idea o how much capital is
owing out o a particular economy. This ultimately has an impact on other statistics
and the oreign exchange rate o the country/regions currency.
ial clams (U.S.)This reports the number o qualied people who applied or unemployment benets
or the rst-time. An increase in initial claims orecasts complications in the labour
market. As the level o employment is a direct indication o economic health, higher
claims should hurt the U.S. dollar.
iSM Mauau (U.S.)
This rates the sentiments o manuacturing supply managers on employment,orders and other actors contributing to the general state o the industry. It is usually
based on inormation they have collected rom their own organisations. Higher ISM
Manuacturing gures reect improved economic growth and expectations, which
can result in a higher U.S. dollar.
iSM n-Mauau (U.S.)Like the ISM Manuacturing, this statistic rates the sentiments o non-manuacturing
supply managers on employment, orders and other actors contributing to the
general state o the industry. Higher ISM Non-Manuacturing gures reect improved
economic growth and expectations, which can result in a higher U.S. dollar.
iveY PMi (cAD)This measures the sentiments o individual purchasing managers on their
organisations activity in purchasing, prices, deliveries, inventory and employment.
Traders use this survey to gauge the willingness o organisations to spend money
and their condence in the direction o the Canadian economy.
JoLtS (Jb ops ad Lab tu Suy) (U.S.)
This report measures the demand or labour. JOLTS looks at the number o job
openings and creates a snapshot o the U.S. labour market. Most traders are
interested in this as employment can have an impact on other reports.
Lad idas
This orecasts the direction o a country or regions economy by creating a compositeo economic indicators that represent major GDP components. For traders, the
Leading Indicators provides a quick overview o economic conditions. Most traders
are interested in the diference between the reported numbers and those rom the
previous month.
Lh vhl Sals
This calculates the number and value o cars and light trucks (GVW Classes 1-3,
under 14,001 lbs.).Traders are interested in this report as motor vehicle sales have an
impact on retail sales. This is also used to measure the rate o consumer spending and
ultimately calculate GDP.
MusThis release lists key points made during the central bank meeting o a country or
region. Traders are interested in this report as the minutes may provide an indication o
upcoming policy decisions.
nw Hm SalsThis totals the number, sales rate and median prices o newly constructed residential
homes sold in the last month. Weaker home sales indicate strain in the housing market,
which can be bearish or a currency.
nAHB (naal Assa Hm Bulds) Suy
(U.S.)This compiles the sentiments o NAHB members on the state o the housing market
and the construction industry in the U.S. Traders are interested in this as it provides
insight into other reports, such as consumer spending.
nFiB (naal Fda idpd Busss) Suy(U.S.)This surveys small business owners on the current state o the economy and their
uture expectations. Traders are interested in this as it provides insight into reports
such as productivity and employment.
L-N
GloSSARYGFT EcoNomic cAlENdAR ALL eventS AccorDing to gMt
http://www.gftasia.com/http://www.gftasia.com/http://www.gftasia.com/http://www.gftasia.com/8/7/2019 SG_Economic-Calendar
21/23
visit gftasia.com
Note: This calendar only provides general inormation and it is not meant to be a trading guide. Dates are subject to change. GFT cannot be held responsible
or the eventual inaccuracies that might occur. Visit our website at gtasia.com. 2010 Global Futures & Forex, Ltd. All rights reserved.
n-Fam Paylls
This release compares the output to the number o hours input by workers (outsideo the arming industry). Stronger employment is positive or any economy and its
currency.
Psal im
This release reports the change in the total value o wages, salaries and other
income that consumers receive. Weaker income could hurt consumer spending,
which in turn, has an impact on a countrys income.
PMi MauauThis survey rates the sentiments o manuacturing executives on the state o the
industry in a particular country or region. Improved levels o manuacturing should
boost a nations currency.
PMi SsThis survey rates the sentiments o service-industry executives on current
economic conditions in a particular country or region. As the service industry
comprises a large portion o most economies, improved levels o service sector
activity should boost the nations currency.
Pdu P idx
This reports the change in the cost o materials, uels and electricity and other
items that go into the production o goods. Producer prices are a measure o
ination; stronger ination pressures are bullish while weaker pressures are
bearish.
Pduy ad css
This reports the rate o non-arm, business sector labour productivity and how much it
cost. Traders use this report to gauge ination. Positive productivity numbers bode well
or an economy as corporations are able to produce more without raising employee
wages creating consumer price consistency. Analysts consider the economy to be
expanding when labour productivity numbers increase.
ra Ds
This release reports the decision o a country or regions central bank to change ormaintain the interest rate. This is usually one o the most market moving events or
a currency. Rate hikes tend to be positive or a currency while rate cuts tend to be
negative.
ral Sals
This compiles sales gures rom the retail industry in a particular country or region. As
a primary input to GDP, stronger consumer spending is positive or a currency while
weaker spending is negative.
S&P/cas-Shll Hus P idx (U.S.)
This reports the change in the resale value o residential buildings in select U.S. cities.
Lower prices reect weaker demand, which can be bearish or the dollar.
tic (tasu iaal capal Sysm) DaaThis report collects data rom banks and other nancial organisations on capital
ows in and out o the U.S. This inormation is used in calculating the U.S. Balance
o Payment accounts.
tad BalaThis compares the number o goods and services imported to the number exported
rom a particular country or region. A stronger trade surplus is usually positive or a
currency while a larger trade decit is negative.
U. Mha cdThis surveys consumers on the state o the economy and compiles the results. The
Survey o Consumers at the University o Michigan notes, Economic optimism
promotes consumer condence and a willingness to make large expenditures and
debt commitments, while economic uncertainty breeds pessimism and a desire to
curtail expenditures and rebuild nancial reserves.
P-S
T-Z
GloSSARYGFT EcoNomic cAlENdAR ALL eventS AccorDing to gMt
http://www.gftasia.com/http://www.gftasia.com/http://www.gftasia.com/http://www.gftasia.com/8/7/2019 SG_Economic-Calendar
22/23
visit gftasia.com
Note: This calendar only provides general inormation and it is not meant to be a trading guide. Dates are subject to change. GFT cannot be held responsible
or the eventual inaccuracies that might occur. Visit our website at gtasia.com. 2010 Global Futures & Forex, Ltd. All rights reserved.
Umplym
This reports statistics related to the number o people in a country or regionlooking or work, and/or ling or assistance. See Employment.
Whlsal tadThis analyses the perormance o the wholesale trade sector based on the changes
in the prices o the products. Consistent changes in wholesale numbers eventually
have an impact on consumer prices; this afects a number o reports, such as retail
sales and consumer spending.
GloSSARYGFT EcoNomic cAlENdAR ALL eventS AccorDing to gMt
http://www.gftasia.com/http://www.gftasia.com/http://www.gftasia.com/http://www.gftasia.com/8/7/2019 SG_Economic-Calendar
23/23
This inormation is made available to you by or or GFT Global Markets Asia Pte. Ltd. (Unique Entity Number 200717665N).
The contents hereo is available or accessible or inormational purposes only and is not to be regarded as an oer or a
solicitation to deal in any investment product or to enter into any legal relations, nor an advice or a recommendation with
respect to such investment product.
The inormation provided here should not be relied upon as a substitute or extensive independent research beore making
your investment decisions. GFT is merely providing this inormation or your general inormation and the inormation does
not take into account any particular individuals investment objectives, inancial situation, or needs. All investors should
obtain advice based on their unique situation beore making any investment decision based upon any inormation contained
within. Trading o oreign exchange contracts and other investment products, which are leveraged, can carry a high level o
risk, and may not be suitable or all investors. It is possible to lose more than the initial investment. CD04S.099.123010
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