Economic Calendar - Currencies

In Australia, interest rates decisions are taken by the Reserve Bank of Australia's Board. The official interest rate is the cash rate. The cash rate is the rate charged on overnight loans between financial intermediaries, is determined in the money market as a result of the interaction of demand for and supply of overnight funds.

The Japan Services PMI (Purchasing Managers' Index) is based on data collected from a representative panel of over 400 private service sector companies based in Japan. 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.

In Japan, the Nikkei Japan Composite Output Index 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.

The IHS Markit Singapore Purchasing Managers’ Index™ (PMI™) is based on data compiled from monthly replies to questionnaires sent to executives in over 400 private sector companies including manufacturing, services, construction and retail. Survey responses reflect the change, if any, in the current month compared to the previous month based on data collected mid-month. An index reading above 50 indicates an overall increase in private sector activity, below 50 an overall decrease.

In New Zealand, interest rates decisions are taken by the Reserve Bank of New Zealand. The official interest rate is the Official Cash Rate (OCR). The OCR was introduced in March 1999 and is reviewed eight times a year by the Bank. The OCR influences the price of borrowing money in New Zealand and provides the Reserve Bank with a means of influencing the level of economic activity and inflation.

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

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.

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.

The Markit Russia Services PMI is based on data compiled from monthly replies to questionnaires sent to purchasing executives in over 300 private service sector companies. The Index tracks variables such as sales, employment, inventories and prices. An index reading above 50 indicates an overall increase in that variable, below 50 an overall decrease.

Current Account is the sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).

In Russia, the Markit Russia Composite Output Index tracks business trends across private sector activity, based on data collected from a representative panel of around 300 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.

Germany runs regular trade surpluses since 1952, primarily due to strong exports of vehicles and other machinery. In 2017, the largest trade surpluses were recorded with the US, the UK, France, Austria, Spain, Sweden and the UAE; while the biggest trade deficits were recorded with China, Vietnam, Norway, Russia, the Netherlands, Ireland and Czech Republic.

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.

The government budget balance is the difference between government revenues and expenses, including the treasure special component. The budget is balanced when outlays equal to receipts, the country reports budget surplus when revenues are higher than expenses and deficit when expenses exceed the revenues.

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. .

In South Africa, the IHS Markit South Africa Purchasing Managers Index tracks business trends across private sector activity, including mining, manufacturing, services, construction and retail based on data collected from a representative panel of around 400 companies. The index tracks variables such as new orders, output, employment, supplier delivery times, inventories and prices. A reading above 50 indicates expansion in business activity and below 50 indicates that it is generally declining.