Trading Week Outlook: July 12 - 17, 2009

by: All Things Forex

With a number of Consumer Price Index and Industrial Production reports due in the week ahead, traders will focus on inflation and industrial activity in the major economies around the globe.

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, July 12 will begin the trading session with the New Zealand Retail Sales, the main measure of consumer spending, at 6:45 pm, ET.

Monday, July 13 will start with the first spotlight event of the week- the Japanese Industrial Production, the main gauge of industrial activity measuring the output of factories, mines, and utilities, at 12:30 am, ET, and the Japanese Household Confidence, a survey of the economic sentiment of households, at 1:00 am, ET.

The Swiss PPI- Producers Price Index, the main measure of inflation experienced by manufacturers, will follow at 3:15 am, ET.

The Bank of Canada’s Business Outlook, a quarterly survey used as a leading indicator of economic conditions in Canada, will be released at 10:30 am, ET.

An important report from the U.S. will bring the U.S. Treasury Budget Balance, a monthly account of the Federal Government’s budget, at 2:00 pm, ET.

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

Tuesday, July 14 will begin with one of the main spotlight events of the week- the U.K. CPI- Consumer Price Index, the main measure of inflation used by the Bank of England, at 4:30 am, ET, along with the U.K. RPI- Retail Price Index of the rate of inflation experienced by consumers when purchasing goods and services, also at 4:30 am, ET.

News from the Euro-zone will deliver another spotlight event- the Euro-zone Industrial Production, the main gauge of industrial activity measuring the output of factories, mines, and utilities, at 5:00 am, ET, along with the German ZEW Institute Economic Sentiment, a survey of the sentiment and outlook of institutional investors and financial experts on the economy, also at 5:00 am, ET.

A major spotlight event- the U.S. Retail Sales, an important gauge of consumer spending, measuring the total receipts at stores that sell durable and nondurable goods, will be released at 8:30 am, ET, along with the U.S. PPI- Producers Price Index, the main measure of inflation experienced by manufacturers and a leading indicator of consumer inflation, also at 8:30 am, ET.

The U.S. data will continue with the U.S. Business Inventories, a gauge of economic conditions measuring inventories of manufacturers, wholesalers, and retailers, scheduled at 10:00 am, ET.

The day will end with the Australian Leading Indicators of economic activity, at 9:00 pm, ET.

Wednesday, July 15 will start with a spotlight event- the Bank of Japan Interest Rate Announcement, expected around 12:00 am, ET, followed by the Swiss Retail Sales, the main measure of consumer spending, at 3:15 am, ET.

Notable employment reports from the U.K. will bring the U.K. Jobless Claims, Unemployment Rate and Average Earnings, the main gauges of labor market conditions, all scheduled at 4:30 am, ET.

A major spotlight event- the Euro-zone HICP- Harmonized Index of Consumer Prices, the main measure of inflation in the Euro-zone and the European equivalent to the CPI- Consumer Price Index, will be released at 5:00 am, ET.

A sequence of important U.S. economic reports will begin with one of the main spotlight events of the week- the U.S. CPI- Consumer Price Index, the main measure of inflation in the world’s largest economy, at 8:30 am, ET, along with the Empire State Manufacturing Survey of manufacturing conditions in the state of New York, also at 8:30 am, ET.

More U.S. economic data will bring another major spotlight event- the U.S. Industrial Production and Capacity Utilization, the main gauge of industrial activity measuring the output of factories, mines, and utilities, at 9:15 am, ET, followed by the EIA- Energy Information Administration Weekly Oil Inventories, at 10:30 am, ET.

The New Zealand Manufacturing Index of performance in the manufacturing sector will be released at 6:30 pm, ET.

A spotlight event will follow with the New Zealand CPI- Consumer Price Index, the main measure of inflation, at 6:45 pm, ET.

The day will conclude with two notable reports- the Japanese Tertiary Index, an important gauge of economic activity in the service industries: utilities, transport and telecommunications, wholesale and retail, finance, insurance, and real estate, scheduled at 7:50 pm, ET, and the Reserve Bank of Australia’s Monthly Bulletin on monetary policy, inflation and economic conditions, at 9:30 pm, ET.

Thursday, July 16 will begin with the Bank of Japan’s Monthly Report on monetary policy, inflation and economic conditions, at 1:00 am, ET, and the Swiss ZEW Institute Economic Expectations survey of institutional investors and analysts’ outlook on the economy, at 5:00 am, ET.

The U.S economic releases will start with the weekly Jobless Claims, at 8:30 am, ET, and the U.S. TIC- Treasury International Capital, a measure of the attractiveness of the U.S. Dollar, tracking the flows of financial instruments into and out of the United States, at 9:00 am, ET.

The U.S. data will continue with the Philadelphia Fed Survey of manufacturing conditions within the Philadelphia Federal Reserve district, at 10:00 am, ET, followed by the NAHB- National Association of Home Builders’ Housing Market Index of present sales of new homes, sales of new homes expected in the next six months, and traffic of prospective buyers in new homes, due at 1:00 pm, ET.

Friday, July 17 will start with the Euro-zone Trade Balance of the difference between imported and exported goods and services, at 5:00 am, ET.

News from Canada will bring a spotlight event- the Canadian CPI- Consumer Price Index, the main measure of inflation, at 7:00 am, ET, followed by the Canadian Leading Indicators of economic conditions, at 8:30 am, ET.

The busy trading week will end with another spotlight event- the U.S. Housing Starts and Building Permits, a leading indicator of housing market activity measuring changes in the rate of home construction, scheduled for release at 8:30 am, ET.