Fed Chair Powell Speech

In the United States, the authority to set interest rates is divided between the Board of Governors of the Federal Reserve (Board) and the Federal Open Market Committee (FOMC). The Board decides on changes in discount rates after recommendations submitted by one or more of the regional Federal Reserve Banks. The FOMC decides on open market operations, including the desired levels of central bank money or the desired federal funds market rate.

Part Time Employment Chg

20800

In Canada, part-time employment consists of persons who usually work less than 30 hours per week at their main or only job.

Unemployment Rate

4.1%

In the United States, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

Non Farm Payrolls

117000

Nonfarm payrolls is an employment report released monthly, usually on the first Friday of every month, and heavily affects the US dollar, the bond market and the stock market. Current Employment Statistics (CES) program from the U.S. Department of Labor Bureau of Labor Statistics, surveys about 141,000 businesses and government agencies, representing approximately 486,000 individual work sites, in order to provide detailed industry data on employment, hours, and earnings of workers on nonfarm payrolls.

Average Hourly Earnings MoM

0.2%

In the United States, Average Hourly Earnings is the average amount employees make per hour in a given month. The Federal Reserve uses average hourly earnings in deciding whether to raise or lower interest rates.

Nonfarm Payrolls Private

116000

Private Nonfarm Payrolls measures the change in the number of total payrolls in any business, excluding general government employees, private household employees, employees of nonprofit organizations that provide assistance to individuals and farm employees.

Manufacturing Payrolls

8000

Manufacturing Payrolls reports the absolute change in the number of employees working in the Manufacturing sector in the United States.

Average Hourly Earnings YoY

4%

In the United States, Average Hourly Earnings is the average amount employees make per hour in a given month. The Federal Reserve uses average hourly earnings in deciding whether to raise or lower interest rates.

Labor Participation Rate

62.4%

The civilian labor force participation rate is the number of employed and unemployed but looking for a job as a percentage of the population aged 16 years and over.

U-6 Unemployment Rate

8%

The so-called U-6 unemployment rate includes total unemployed, plus all persons marginally attached to the labor force, plus total employed part time for economic reasons, as a percent of the civilian labor force plus all persons marginally attached to the labor force.

Average Weekly Hours

34.2

Average weekly hours are the total weekly hours divided by the employees paid for those hours. Unpaid absenteeism, labor turnover, part-time work, and stoppages cause average weekly hours to be lower than scheduled hours of work for an establishment.

Government Payrolls

1000

Government Payrolls reports the absolute change in the number of employees working in the Government sector in the United States. It includes Federal, State and Local governments.

Employment Change

1100

In Canada, employment change refers to the change in the number of persons who work for pay or profit, or perform unpaid family work. Estimates include both full-time and part-time employment.

Full Time Employment Chg

-19700

In Canada, full-time employment consists of persons who usually work 30 hours or more per week at their main or only job.

Unemployment Rate

6.6%

In Canada, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

Labor Participation Rate

65.3%

The labour force participation rates is the number of persons who are employed and unemployed but looking for a job divided by the total working-age population.

Average Hourly Wages YoY

4%

Average Hourly Wages of Permanent Employees in Canada refers to the usual wages or salary of permanent employees at their main job. Respondents are asked to report their wage/salary before taxes and other deductions, and include tips and commissions. Weekly and hourly wages/salary are calculated in conjunction with usual paid work hours per week.

Consumer Confidence

46.3

In Mexico, the Consumer Confidence Index (ICC) measures the current perception and future expectations that people have about their economic situation, their family and the country in general, in respect to the purchase of consumption durables and non-durables, as well as employment, inflation and savings. The index is based on a sample of 2336 households located in the 32 major cities of the country. The ICC has a base of 100 as of January of 2003, levels above 100 indicate optimism, 100 neutrality and below 100 pessimism.

Foreign Exchange Reserves

658800000000

In India, Foreign Exchange Reserves are the foreign assets held or controlled by the country central bank. The reserves are made of gold or a specific currency. They can also be special drawing rights and marketable securities denominated in foreign currencies like treasury bills, government bonds, corporate bonds and equities and foreign currency loans.

Foreign Exchange Reserves

240800000000

In Mexico, Foreign Exchange Reserves are the foreign assets held or controlled by the country central bank. The reserves are made of gold or a specific currency. They can also be special drawing rights and marketable securities denominated in foreign currencies like treasury bills, government bonds, corporate bonds and equities and foreign currency loans.

New Car Registrations YoY

-6.4%

S&P Global Construction PMI

44.6

In the United Kingdom, the Markit / Chartered Institute of Purchasing and Supply Purchasing Managers Index measures the performance of the construction sector and is derived from a survey of 170 construction companies. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

Retail Sales YoY

0.9%

In Italy, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.

ECB Guindos Speech

In the Euro Area, benchmark interest rate is set by the Governing Council of the European Central Bank. The primary objective of the ECB’s monetary policy is to maintain price stability which is to keep inflation below, but close to 2 percent over the medium term. In times of prolonged low inflation and low interest rates, ECB may also adopt non-standard monetary policy measures, such as asset purchase programmes. The official interest rate is the Main refinancing operations rate.

New Car Sales YoY

-1%

Retail Sales MoM

-0.4%

In Italy, the Retail sales report provides an aggregated measure of sales of retail goods and services over a specific time period. In Italy, Retail sales are seasonal, volatile and relatively important to the overall economy.

New Car Registrations YoY

-0.7%

Vehicle Sales YoY

-25.7%

In Russia, Total Vehicle Sales refer to total registrations of car and light commercial vehicles.

Balance of Trade Prel

-7770000000

The Turkish trade balance has been in deficit since 1947. Turkey major exports are road vehicles, textiles, iron and steel, clothing and food, while imports were machinery and transport equipment, manufactured goods, mineral fuels and lubricants and chemicals. The biggest trade deficits were recorded with China, Russia, Germany, South Korea, Switzerland, India, Iran and Japan; and the largest surpluses were recorded with Iraq, the UAE, the UK, Israel, Syria, Northern Cyprus and Azerbaijan.

Exports Prel

20760000000

Turkey's major exports are: machinery and transport equipment (31 percent of total exports), of which road vehicles (15 percent) and electrical machinery, apparatus and appliances (6 percent); manufactured goods (25 percent), of which textile yarn, fabrics, made-up articles (7 percent), iron and steel (6 percent) and manufactures of metals (4 percent); miscellaneous manufactured articles (18 percent), of which articles of apparel and clothing accessories (10 percent); food and live animals (9 percent), of which fruits and vegetables (4 percent); chemicals and related products (6 percent); and gold,non-monetary (4 percent). Turkey's main export partners were: Germany (10 percent of total exports); the UK, the UAE, Iraq and the US (6 percent each); Italy (5 percent); France and Spain (4 percent each).

Imports Prel

28530000000

Turkey's main imports are machinery and transport equipment (31 percent of total imports), of which road vehicles (7 percent) and electrical machinery, apparatus and appliances (6 percent); manufactured goods (16 percent), of which iron and steel (5 percent); mineral fuels, lubricants and related materials (16 percent), of which petroleum and petroleum products (4 percent); chemicals and related products (13 percent), of which plastics (4 percent); gold, non-monetary (7 percent); crude materials, inedible, except fuels (7 percent); miscellaneous manufactured articles (6 percent); and food and live animals (4 percent). The country's main imports' sources were: China (10 percent of total imports); Germany (9 percent); Russia (8 percent); the US and Italy (5 percent each); France, Iran, Switzerland, South Korea, the UK, Spain and India (3 percent each).

HCOB Construction PMI

41.2

The Germany Construction Purchasing Managers’ Index® is based on original survey data collected from a representative panel of over 200 companies based in the German construction sector. Data are collected at mid-month, asking respondents to compare a variety of construction conditions with the situation one month ago. A reading of below 50.0 indicates that the construction activity is generally declining, above 50.0 that it is generally expanding and exactly 50.0 indicates no change on the level recorded the previous month. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

HCOB Construction PMI

42.7

Data are collected at mid-month, asking respondents to compare a variety of business conditions with the situation one month ago. A reading of below 50.0 indicates that the economy is generally declining, above 50.0 that it is generally expanding and exactly 50.0 indicates no change on the level recorded the previous month. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

HCOB Construction PMI

39.8

Data are collected at mid-month, asking respondents to compare a variety of business conditions with the situation one month ago. A reading of below 50.0 indicates that the economy is generally declining, above 50.0 that it is generally expanding and exactly 50.0 indicates no change on the level recorded the previous month. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

HCOB Construction PMI

48.2

Survey responses reflect the change, if any, in the current month compared to the previous month based on data collected mid-month. For each of the indicators the ‘Report' shows the percentage reporting each response, the net difference between the number of higher/better responses and lower/worse responses, and the ‘diffusion' index. This index is the sum of the positive responses plus a half of those responding ‘the same'. Diffusion indexes have the properties of leading indicators and are convenient summary measures showing the prevailing direction of change. An index reading above 50 indicates an overall increase in that variable, below 50 an overall decrease. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

Retail Sales YoY

3.2%

In Czech Republic, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.

Retail Sales MoM

-0.4%

In Czech Republic, the Retail sales report provides an aggregated measure of sales of retail goods and services over a specific time period. In Czech Republic, Retail sales are seasonal, volatile and relatively important to the overall economy.

Industrial Production YoY

-1.2%

In Spain, industrial production measures the output of businesses integrated in industrial sector of the economy. Manufacturing is the most important sector and accounts for 82 percent of total production. The biggest segments within Manufacturing are: Food products (12 percent of total production); fabricated metal products, except machinery and equipment (9 percent); motor vehicles, trailers and semi-trailers (6 percent); chemicals and chemical products (6 percent); other non-metallic mineral products (5 percent); rubber and plastic products (4 percent); machinery and equipment (4 percent); basic metals (4 percent); and beverages (4 percent). Electricity, gas, steam and air conditioning account for 14 percent of total output; Water supply, sewerage, waste management and remediation account for 3 percent; and Mining and quarrying account for 1 percent.

Inflation Rate MoM Prel

0.2%

Inflation Rate MoM measures month over month change in the price of goods and services.

Inflation Rate YoY Prel

2.7%

In Czech Republic, the most important category in the consumer price index is Housing and Utilities (27 percent of total weight). Food and Non-Alcoholic Beverages accounts for 18 percent; Transport for 10 percent; Alcoholic Beverages and Tobacco for 9 percent; Recreation and Culture for 8 percent and Miscellaneous Goods and Services for 6 percent. Furniture, Household Goods and Maintenance; Restaurants and Hotels; Clothing and Footwear; Communication; Health and Education account for the remaining 27 percent of total weight.

KTBi Auction

Industrial Production MoM

-0.5%

In France, industrial production measures the output of businesses integrated in industrial sector of the economy. Manufacturing is the most important sector and accounts for 86 percent of total production. The biggest segments within Manufacturing are: Food products and beverages (13 percent of total production); machinery and equipment goods (13 percent), of which computer, electronic and optical products (5 percent); basic metals and fabricated metal products (12 percent); other manufacturing, repair and installation of machinery and equipment (12 percent); transport equipment (10 percent); rubber and plastics products, and other non-metallic mineral products (8 percent); and chemicals and chemical products (6 percent). Electricity, gas, steam and air conditioning account for 11 percent of total output, Water supply, sewerage, waste management and remediation account for 1 percent and Mining and quarrying account also for 1 percent.

Industrial Production YoY Prel

-3.9%

In Hungary, industrial production measures the output of businesses integrated in industrial sector of the economy such as manufacturing, mining, and utilities.

Factory Orders MoM

-5.5%

Factory Orders in Germany are reported using monthly changes in the volume of new orders received by manufacturers. Factory Order figures in Germany can be very volatile and misleading because they are heavily affected by geopolitical events, temporary shocks in demand and business deals which may only happen once.

Inflation Rate MoM Prel

0.6%

Inflation Rate MoM measures month over month change in the price of goods and services.

Inflation Rate YoY Prel

1.3%

In Sweden, the most important categories in the Consumer Price Index is Housing & Utilities (24% of the total weight). Food & Non-alcoholic Beverages account for 14%; Transport for 13%; Recreation & Culture for 13%; Miscellaneous Goods & Services for 8%; and Furniture, Household Goods & Maintenance (7%). Others also includes: Restaurant & Hotels (6%), Clothing & Footwear (4%), Alcoholic Beverages & Tobacco (4%), Health (4%), Communications (3%), and Education (0.30%).

CPIF MoM Prel

0.9%

As of September 2017, the Riksbank uses the CPIF, the consumer price index with a fixed interest rate, as target variable for the inflation target. According to the central bank, "From a monetary policy perspective, one disadvantage of the CPI is that it is directly affected by changes in the policy rate. These adjustments have, through their impact on mortgage rates, large and direct effects on the CPI which are not connected to underlying inflationary pressures"..

CPIF YoY Prel

2.9%

As of September 2017, the Riksbank uses the CPIF, the consumer price index with a fixed interest rate, as target variable for the inflation target. According to the central bank, "From a monetary policy perspective, one disadvantage of the CPI is that it is directly affected by changes in the policy rate. These adjustments have, through their impact on mortgage rates, large and direct effects on the CPI which are not connected to underlying inflationary pressures".

Unemployment Rate

2.9%

In Switzerland, the unemployment rate measures the number of people actively looking for a job as a percentage of the labour force.

HSBC Composite PMI Final

58.8

In India, the Nikkei India Composite Output Index is a weighted average of the Manufacturing Output Index and the Services Business Activity Index and tracks business trends across private sector activity, based on data collected from a representative panel of around 800 companies. The index tracks variables such as sales, new orders, employment, inventories and prices. A reading above 50 indicates expansion in business activity and below 50 indicates that it is generally declining.. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

HSBC Services PMI Final

59

The IHS Markit India Services PMI (Purchasing Managers' Index) is based on data compiled from monthly replies to questionnaires sent to purchasing executives in around 350 private service sector companies. The index tracks variables such as sales, employment, inventories and prices. A reading above 50 indicates that the services sector is generally expanding; below 50 indicates that it is generally declining. This is only a limited sample of PMI headline data displayed on the Customer’s service, under licence from S&P Global. Full historic PMI headline data and all other PMI sub-index data and histories are available on subscription from S&P Global. Contact economics@spglobal.com for more details.

Retail Sales MoM

2.8%

In Singapore, the Retail sales report provides an aggregated measure of sales of retail goods and services over a specific time period. In Singapore, Retail sales are seasonal, volatile and relatively important to the overall economy.

Retail Sales YoY

4.7%

In Singapore, the year-over-year change in Retail sales compares the aggregated sales of retail goods and services during a certain month to the same month a year ago.

3-Month Bill Auction

0.2934%

Qingming Festival

Ching Ming Festival

Household Spending YoY

0.8%

In Japan, Household Spending YoY refers to the annual change of consumption expenditures (on food, housing, utilities, furniture, clothing, health, education, transport, communication, leisure activities, etc.) in real terms for two-or-more-person households including agricultural, forestry and fisheries households.

Household Spending MoM

-4.5%

In Japan, Household Spending MoM refers to the monthly change of consumption expenditures (on food, housing, utilities, furniture, clothing, health, education, transport, communication, leisure activities, etc.) in real terms for two-or-more-person households including agricultural, forestry and fisheries households.

Fed Balance Sheet

6740000000000

Fed Cook Speech

In the United States, the authority to set interest rates is divided between the Board of Governors of the Federal Reserve (Board) and the Federal Open Market Committee (FOMC). The Board decides on changes in discount rates after recommendations submitted by one or more of the regional Federal Reserve Banks. The FOMC decides on open market operations, including the desired levels of central bank money or the desired federal funds market rate.

Fed Jefferson Speech

In the United States, the authority to set interest rates is divided between the Board of Governors of the Federal Reserve (Board) and the Federal Open Market Committee (FOMC). The Board decides on changes in discount rates after recommendations submitted by one or more of the regional Federal Reserve Banks. The FOMC decides on open market operations, including the desired levels of central bank money or the desired federal funds market rate.

10-Year Bond Auction

3.088%

Generally, a government bond is issued by a national government and is denominated in the country`s own currency. Bonds issued by national governments in foreign currencies are normally referred to as sovereign bonds. The yield required by investors to loan funds to governments reflects inflation expectations and the likelihood that the debt will be repaid.

30-Year Mortgage Rate

6.65%

The Primary Mortgage Market Survey (PMMS) is focused on conventional, conforming, fully amortizing home purchase loans for borrowers who put 20 percent down and have excellent credit. Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. The interest rate a lender would charge to lend mortgage money to a qualified borrower exclusive of the fees and points required by the lender. This commitment rate applies only to conventional financing on conforming mortgages with loan-to-value rates of 80 percent or less.

15-Year Mortgage Rate

5.89%