Trading Week Outlook: June 7 - 12, 2009

by: All Things Forex

The U.S. Retail Sales and Trade Balance, coupled with a number of Industrial Production reports from major economies, will keep the markets focused on consumer spending and economic activity in the week ahead.

In preparation for the new trading week, here is a quick look at the most important economic events that every currency trader should pay attention to.

Sunday, June 7 will begin the trading session with the Japanese Current Account of goods, services and transfer of payments into and out of the country, at 7:50 pm, ET, along with the Japanese Money Supply, a measure of the value of all currency and liquid cash assets held by the public, also at 7:50 pm, ET.

Monday, June 8
will have an early start with the Japanese Eco Watchers Survey of the sentiment of businesses in the services industry, at 1:00 am, ET, followed by the Swiss Unemployment Rate, at 1:45 am, ET.

News from the Euro-zone will bring the closely watched Sentix Investor Confidence Index of the confidence level of investors in the economy, at 4:30 am, ET, and the German Manufacturers’ Orders, at 6:00 am, ET.

Housing data from Canada will deliver the Canadian Housing Starts, an important measure of new residential construction and housing market activity, at 8:15 am, ET.

The first spotlight event of the week will bring the U.K. Royal Institution of Chartered Surveyors House Price Balance, measuring changes in home prices, at 7:00 pm, ET, along with the BRC- British Retail Consortium Retail Sales Monitor, an important gauge of consumer spending, also at 7:00 pm, ET.

The day will end with the Australian Business Confidence, a measure of the economic sentiment of businesses in the non-farm sector, at 9:30 pm, ET.

Tuesday, June 9 will begin with the Japanese Leading Indicators of economic activity, at 1:00 am, ET, and the German Trade Balance of the difference between imports and exports of goods and services, at 2:00 am, ET.

The U.K. Department for Communities and Local Government House Price Index of changes in home prices will be released at 4:30 am, ET, followed by the German Industrial Production, the main gauge of industrial activity in the Euro-zone’s largest economy, measuring the physical output of the nation's factories, mines and utilities, at 6:00 am, ET.

The only notable U.S. economic report will be the U.S. Wholesale Trade, measuring the dollar value of sales made and inventories held by merchant wholesalers, at 10:00 am, ET.

The day will conclude with a sequence of important economic data from Japan and from “down under”, beginning with the Japanese CGPI- Corporate Goods Price Index, an equivalent to a PPI- Producers Price Index as a measure of wholesale inflation experienced by manufacturers and a leading indicator of consumer inflation, at 7:50 pm, ET, along with the Japanese Machinery Orders, also at 7:50 pm, ET.

The day will end with the Australian Westpac Melbourne Institute Consumer Sentiment, a measure of consumers’ financial conditions and outlook on the economy, at 8:30 pm, ET, and the Australian Home Loans, a leading indicator of housing market conditions measuring newly-issued home purchase loans, at 9:30 pm, ET.

Wednesday, June 10 will start with the German CPI- Consumer Price Index, the main measure of inflation in the Euro-zone’s largest economy, at 2:00 am, ET.

A spotlight event from the U.K. will follow with the U.K. Industrial Production and Manufacturing Output, the main gauge of industrial activity measuring the physical output of the nation's factories, mines and utilities, at 4:30 am, ET, along with the U.K. Trade Balance of the difference between imports and exports, at 4:30 am, ET.

Another spotlight event will bring the U.S. International Trade Balance of the difference between imports and exports of goods and services, at 8:30 am, ET, and the Canadian Trade Balance, also at 8:30 am, ET, followed by the EIA- Energy Information Administration Weekly Oil Inventories, at 10:30 am, ET.

The U.S. economic reports will continue with a spotlight event- the U.S. Treasury Budget Balance, a monthly account of the federal government’s budget, at 2:00 pm, ET, along with the Fed’s Beige Book of economic conditions in the 12 Federal Reserve Districts, also at 2:00 pm, ET.

One of the main spotlight events of the week will come from New Zealand with the announcement of the Reserve Bank of New Zealand’s Interest Rate Decision, at 5:00 pm, ET.

The day will conclude with a series of important economic reports, starting with the monthly estimate of the U.K. GDP- Gross Domestic Product, the main measure of economic activity and growth, at 7:00 pm, ET.

A major spotlight event- the Japanese GDP- Gross Domestic Product, the main measure of economic activity and growth, will be released at 7:50 pm, ET, followed by the Australian Melbourne Institute Inflation Expectations Index, at 9:00 pm, ET.

The day will end with another spotlight event- the Australian Employment Situation and Unemployment Rate, the main gauge of employment trends and labor market conditions, at 9:30 pm, ET.

Thursday, June 11 will begin with a notable report- the European Central Bank’s Bulletin of statistical data on inflation, economic activity and growth, at 4:00 am, ET, followed by the U.K. Inflation Expectations Index, at 4:30 am, ET.

The U.S. economic data will bring the main spotlight event of the week- the U.S. Retail Sales, an important gauge of consumer spending, measuring the total receipts at stores that sell durable and nondurable goods, at 8:30 am, ET.

The U.S. economic releases will continue with the Weekly Jobless Claims, at 8:30 am, ET, and the U.S. Business Inventories held by manufacturers, wholesalers, and retailers, at 10:00 am, ET.

The day will conclude with two important reports- New Zealand’s Retail Sales, the main measure of consumer spending, at 6:45 pm, ET, and the Bank of England’s Quarterly Bulletin on inflation, economic activity and growth, at 7:00 pm, ET.

Friday, June 12 will start with a spotlight event- the Japanese Industrial Production, measuring industrial activity and the physical output of factories, mines and utilities, at 12:30 am, ET, and the Japanese Household Confidence, a measure of consumer sentiment, at 1:00 am, ET.

The European news will bring another spotlight event- the Euro-zone Industrial Production, the main gauge of industrial activity, measuring the output of the region’s factories, mines and utilities, at 5:00 am, ET.

The U.S. economic data will bring two important reports- the U.S. Import and Export Prices, measuring price changes in products that are traded internationally, at 8:30 am, ET, and the preliminary estimate of the U.S. Consumer Sentiment, the University of Michigan's consumer sentiment survey of 500 households on their financial conditions and attitudes about the economy, at 9:55 am, ET.

The trading week will end with a notable geo-political event- the G8 weekend meeting of finance ministers and central bank representatives from Russia and the G7 countries: U.S., U.K., Canada, Germany, France, Italy and Japan.

Disclosure: None