Economic Events 06/09/2012

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1:30 AUD Employment Change

 

Forecast: 5.1K Previous: 14.0K

 

Change in the number of employed people during the previous month. Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.

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1:30 AUD Unemployment Rate

 

Forecast: 5.3% Previous: 5.2%

 

Percentage of the total work force that is unemployed and actively seeking employment during the previous month. Although it’s generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions.

 

1:00 GBP Asset Purchase Facility

 

Forecast: 375B Previous: 375B

 

Total value of money the BOE will create and use to purchase assets in the open market. It increases demand for bonds which tends to lower long-term interest rates.

 

11:00 GBP Official Bank Rate

 

Forecast: 0.50% Previous: 0.50%

 

Interest rate at which banks lend balances held at the BOE to other banks. Short term interest rates are the paramount factor in currency valuation – traders look at most other indicators merely to predict how rates will change in the future.

 

11:45 EUR Minimum Bid Rate

 

Forecast: 0.50% Previous: 0.75%

 

Interest rate on the main refinancing operations that provide the bulk of liquidity to the banking system. Short term interest rates are the paramount factor in currency valuation – traders look at most other indicators merely to predict how rates will change in the future.

 

12:15 USD ADP Non-Farm Employment Change

 

Forecast: 141K Previous: 163K

 

Estimated change in the number of employed people during the previous month, excluding the farming industry and government. Job creation is an important leading indicator of consumer spending, which accounts for a majority of overall economic activity.

 

12:30 EUR ECB Press Conference

 

ECB President and Vice President. It’s the primary method the ECB uses to communicate with investors regarding monetary policy. It covers in detail the factors that affected the most recent interest rate and other policy decisions, such as the overall economic outlook and inflation. Most importantly, it provides clues regarding future monetary policy.

 

12:30 USD Unemployment Claims

 

Forecast: 141K Previous: 163K

 

The number of individuals who filed for unemployment insurance for the first time during the past week. Although it’s generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions.

 

14:00 USD ISM Non-Manufacturing PMI

 

Forecast: 52.6 Previous: 52.6

 

Level of a diffusion index based on surveyed purchasing managers, excluding the manufacturing industry. It’s a leading indicator of economic health – businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company’s view of the economy.

 

Source: binaryoption