00:09 2020-06-03 UTC+00
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|Time||Country||Macroeconomic Indices||Period||Previous Reading||Forecast||Actual Reading||Importance|
|03:30||Gross Domestic Product||1 quarter||0.5% q/q; 2.2% y/y||-0.4%q/q; 1.4% y/y||-0.3%q/q; 1.4% y/y|
A comprehensive measure of Australia's overall production and consumption of goods and services. GDP is a significant reportserving as one of the primary indicators of a country's overall economic health.
Robust GDP growth signals a heightened level of economic activity and often a higher demand for the domestic currency. At the same time, economic expansion raises concerns about inflationary pressures which may prompt monetary authorities to increase interest rates. Thus positive GDP readings are generally bullish for the Australian Dollar, while negative readings are generally bearish.
Most production reports that lead to Australian GDP are released before the official GDP number. Therefore, actual GDP figures usually confirm expectations. However, an unexpected release can move markets due to the significance of the figure.
Technically, Gross Domestic Product is calculated in the following way:
GDP = C + I + G + (EX - IM)
The headline figures for GDP are the percentage growth rate from the previous quarter and the annualized percentage change in GDP. Prices used are benchmarked to 1997 prices.
|03:45||Markit Services PMI||May||44.4||47.4||55.0|
|The Chinese Markit Services PMI is compiled by questionnaires sent to purchasing executives in over 400 private service sector companies. The panel has been carefully selected to accurately replicate the true structure of the services economy. The Markit Services PMI Index is developed for providing the most up-to-date possible indication of what is really happening in the private sector economy by tracking variables such as sales, employment, inventories and prices. A higher than expected reading should be taken as positive/bullish for the CNY , while a lower than expected reading should be taken as negative/bearish for the CNY.|
|03:45||Markit Composite PMI||May||47.6||54.5|
|Composite Purchasing Managers Index. It reflects either improvement (>50) or worsening (<50) of the situation compared with the previous month. Growth in the indicator and higher-than-expected reading favors the local currency.|
|07:45||Gross Domestic Product||1 quarter||0.3% q/q; 1.6% y/y||-2.0%q/q; -0.9% y/y||-2.6%q/q; -1.3% y/y|
The Gross Domestic Product is a comprehensive measure of an overall production and consumption of goods and services. GDP serves as one of the primary measures of overall economic well-being. GDP announcements generally conform to expectations as the number comes out after most production figures that lead to overall GDP have already been released. Although releases that are out of line with expectations are rare, unanticipated GDP growth can move markets simply because of its significance as an economic indicator.
The percentage of individuals in the labor force who are without a job but actively seeking one. A higher Unemployment Rate is generally a drain on the economy. Not only does it mean that resources are not being fully utilized, but it also results in lower consumer spending as there are fewer workers receiving paychecks.
Note: The unemployment rate generally moves slowly, so changes of only a few tenths of a percent are still considered significant. Also note that the unemployment rate does not account for discouraged workers. Therefore, in an economically depressed environment, such as that which occurred in Cold War era East Germany, the Unemployment Rate may not accurately reflect the extent of problems.
The indicator shows the number of unemployed people in Germany.
|14:15||ADP Non-Farm Employment Change||May||-20236K||-9000K|
The ADP Non-Farm Employment Change measures the change in the number of newly employed people in the USA, excluding workers in the farming industry.
BoC Interest Rate Decision is announced by the Bank of Canada. If the BoC is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the CAD. Likewise, if the BoC has a dovish view on the Canadian economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.
|16:00||BOC Rate Statement|
This statement is the primary medium used by the Bank of Canada (BoC) to communicate with investors about monetary policy decisions, specifically those regarding interest rates.
ISM Non-Manufacturing gauge of business conditions in non-manufacturing industries, based on measures of employment trends, prices and new orders. Though non-manufacturing sectors make up the majority of the economy, the ISM Non-Manufacturing has less market impact because non-manufacturing data tends to be more cyclical and predictable. However, these sectors do account for a considerable portion of CPI. As a result, the figure gives insight into conditions which can impact output growth and inflationary pressures.
The ISM Non-Manufacturing Index is based on a sample survey of purchasing and supply executives, weighted according to industry contribution to GDP. The Index is calculated using 50% as the centerline between positive and negative expectations; the figure is reported in headlines as the percent change.
Note: There are 10 separate indexes reported, but Business Activity is considered the most important. The other nine indexes are: New Orders, Supplier Deliveries, Employment, Inventories, Prices, Backlog of Orders, New Export Orders, Imports, and Inventory Sentiment.
|16:30||Crude Oil Inventories||May||7928K||3000K|
The actual inventories of crude oil, gasoline, and distillate, such as jet fuel, as reported on a weekly basis. The numbers are watched closely by the energy markets, and if the results differ greatly from the expected inventory levels, the market can react strongly. The inventory data can be skewed by holidays and seasonal factors. Weekly data can be unreliable and should be viewed as a part of longer-term trends, so a four-week moving average may be more useful.
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