Global Economic Calendar: October 5 - 10, 2008

                                                                         October 5 - 10, 2008

Date

Time*

Currency

Event

Actual

Forecast

Previous

Mon Oct 6

JPY Bank of Japan Rate Decision

0.5%

0.5%

0.5%

10:00 AM

CAD Ivey Purchasing Managers Index (SEP)

61.0

51.0

51.5

19:01 PM

GBP NIESR Gross Domestic Product Estimate (SEP)

-0.2%

-0.2%

23:30 PM

AUD Reserve Bank of Australia Rate Decision

6.00%

6.50%

7.00%

Tue   Oct 7

01:00 AM

JPY Leading Index CI (AUG P)

89.3

89.2

91.4

13:15 PM

USD Bernanke Speaks on Economy, Markets in Washington

14:00 PM

USD Minutes of FOMC Meeting (SEP 16)

Wed    Oct 8

01:00 AM

JPY Bank of Japan Monthly Report (OCT 7)

02:45 AM

EUR French Trade Balance (Euros) (AUG)

-5.4B

-4.5B

-4.8

05:00 AM

EUR Euro-Zone Gross Domestic Product s.a. (QoQ) (2Q F)

-0.2%

-0.2%

-0.2%

05:00 AM

EUR Euro-Zone Gross Domestic Product s.a. (YoY) (2Q F)

1.4%

1.4%

1.4%

08:30 AM

USD Personal Spending (AUG)

0.0%

0.2%

0.1%(R-)

12:00 PM

AUD Quarterly Wage Agreements (2Q)

3.7

20:00 PM

AUD Consumer Inflation Expectation (OCT)

4.4%

4.4%

Thu Oct 9

02:00 AM

EUR German Trade Balance (euro) (AUG)

10.6B

12.06

13.96

02:00 AM

EUR German Current Account (euro) (AUG)

7.3B

9.0B

11.8B

02:00 AM

EUR German Wholesale Price Index (MoM) (SEP)

-0.6

-0.6%

-1.8%

02:00 AM

EUR German Wholesale price Index (YoY) (SEP)

5.8%

5.8%

7.4%

04:30 AM

GBP Total Trade Balance (Pounds Mln) (AUG)

-4.737B

-£4450B

-£4585B

04:30 AM

GBP Trade Balance Non EU (Pounds Mln) (AUG)

-5.165B

-£4600

-£4.88B (R-)

04:30 AM

GBP Visible Trade Balance (Pounds Mln) (AUG)

-8.198B

-£7.600B

-£8.238B(R-)

07:00 AM

GBP Bank of England Rate Decision

4.75%

5.00%

19:50 PM

JPY Bank of Japan Monetary Policy Meeting Minutes for September

19:50 PM

JPY Bank of Japan Monetary Policy Meeting Minutes for September

Fri Oct 10

07:00 AM

CAD Net Change in Employment (SEP)

106.9K

10.0K

15.2K

08:30 AM

CAD International Merchandise Trade (Canadian dollar) (AUG)

C$59.1B

C$4.7

C$4.2(R-)

08:30 AM

USD Trade Balance (AUG)

-$59.1B

-59.3B

-61.3B(R+)

08:30 AM

USD Import Price Index (MoM) (SEP)

-3.0%

-2.8%

-2.6%

08:30 AM

USD Import Price Index (YoY) (SEP)

14.5%

12.2%

18.7%(R+)

*All time is quoted in Eastern Time (ET). 

Interest Rate Decision

This news release details the decision for the overnight lending rate, which affects borrowing rates for consumers and businesses. Higher rates are intended to slow an economy and stem inflation, while lower rates are meant to spur economic activity through increased borrowing and consumption. Currencies are bolstered in a rising rate environment, while declining rates have the opposite effect.

Change In Employment

This report provides the net change in the number of individuals employed in the country. Economists watch for a signal of increasing or decreasing job growth, as they are leading indicators that future consumption and expenditures will expand or contract accordingly.

Consumer Price Index (CPI)

This report is a key barometer for inflation in an economy. It measures the change in prices over a period for a predetermined basket of consumer goods and services that the average household will purchase. Increased costs for such goods represent an increase in the cost of living for the average family, which translates to declining purchasing power. A central bank is likely to raise rates to counteract inflation, which in turn will generally strengthen the underlying currency.

Retail Sales

This report acts as a barometer of consumer spending and sentiment, as it measures the total sales of goods and services by retail stores. Strong sales indicate bullishness on the part of consumers, which in turn translates to an expanding economy. Weaker sales indicate that consumers are cautious and less willing to consume, which in turn translates to contraction in the economy.

Trade Balance

The trade balance figure is simply the difference between the amount of export and imports of goods and services for the reported month between a country and other foreign trade partners. When exports are greater than imports, a trade surplus is created. When imports are greater than exports, a deficit is created. If there is more money leaving the country than actually coming in. As a result, the report is taken into heavy consideration as it indicates flow of goods and services and stand as one of the biggest components of the Balance of Payments report.

Gross Domestic Product

This report provides a barometer of the country’s overall economic health, measuring the production and consumption of goods and services. Strong GDP growth signals an expanding economy and raises concerns of inflation, portending the likelihood of rising rates. Contraction signals a slowing economy and the fear of recession, which generally leads to falling interest rates.

ISM Manufacturing Survey

This survey provides a barometer on the sentiment of executives toward inflation, business outlook (e.g. new orders, production, backlog, inventory levels, etc.) and labor conditions. Values over 50 indicate expansion, while values below 50 signal contraction.

Global Economic Calendar: September 28 - October 3, 2008

                                                                September 28 - October 3, 2008

Date

Time*

Currency

Event

Actual

Forecast

Previous

Sun Sep 28

17:45 PM

NZD Trade Balance (New Zealand dollar) (AUG)

-750.0M

-912.0M

-808.1M (R-)

19:50 PM

JPY Retail Trade s.a. (MoM) (AUG)

0.7%

-0.2%

0.1%(R+)

19:50 PM

JPY Retail Trade (YoY) (AUG)

0.7%

0.2%

2.0%(R+)

Mon Sep 29

04:00 AM

EUR Bloomberg Euro Zone Retail Purchasing Manager Index (OCT)

46.2

47.7

04:30 AM

GBP Net Consumer Credit (AUG)

1.2B

1.0B

1.1B

04:30 AM

GBP Mortgage Approvals (AUG)

32K

30K

33K

05:00 AM

EUR Euro-Zone Consumer Confidence (OCT)

-19

-19

-19

05:00 AM

EUR Euro-Zone Economic Confidence (SEP)

87.7

87.3

88.5(R-)

08:30 AM

USD Personal Consumption Expenditure Core (MoM) (AUG)

0.2%

0.2%

0.3%

08:30 AM

USD Personal Consumption Expenditure Core (YoY) (AUG)

2.6%

2.4%

2.5%(R+)

08:30 AM

USD Personal Income (AUG)

0.5%

0.2%

-0.6%(R+)

08:30 AM

USD Personal Spending (AUG)

0.0%

0.2%

0.1%(R-)

12:00 PM

AUD Quarterly Wage Agreements (2Q)

3.7

19:01 PM

GBP GfK Consumer Confidence Survey (SEP)

-32

-40

-36

Tue Sep 30

03:55 AM

EUR German Unemployment Change (SEP)

-29K

-18K

-40K

03:55 AM

EUR German Unemployment Rate s.a. (SEP)

7.6%

7.6%

7.6%

04:00 AM

EUR Italian Producer Price Index (YoY) (AUG)

8.2%

7.7%

8.3%

05:00 AM

EUR Euro-Zone Consumer Price Index Estimate (YoY) (SEP)

3.6%

3.6%

3.8%

08:30 AM

CAD Gross Domestic Product (MoM) (JUL)

0.7%

0.1%

0.1%

10:00 AM

USD Consumer Confidence (SEP)

59.8

55.0

56.9

19:50 PM

JPY Tankan Large Manufacturers Index (3Q)

-3

-2

5

19:50 PM

JPY Tankan Large Manufacturers Outlook (3Q)

-4

-3

4

19:50 PM

JPY Tankan Non-Manufacturing Index (3Q)

1

5

10

19:50 PM

JPY Tankan Non-Manufacturing Outlook (3Q)

-1

2

8

19:50 PM

JPY Tankan Large All Industry Capex (3Q)

1.7%

2.5%

2.4%

Thu  Oct 2

02:00 AM

GBP Nationwide House prices s.a. (MoM) (SEP)

-1.7%

-1.7%

-1.9%

02:00 AM

GBP Nationwide House prices n.s.a. (YoY) (SEP)

-12.4%

-12.6%

-10.5%

04:30 AM

GBP Bank of England Credit Conditions Survey (2Q) (OCT 2)

07:45 AM

EUR European Central Bank Rate Decision

4.25%

4.25%

4.25%

Fri  Oct 3

04:30 AM

GBP Bank of England Housing Equity Withdrawal (Pounds) (2Q)

-2.8B

2.5B

5.0B

08:30 AM

USD Change in Nonfarm Payrolls (SEP)

-159K

-95K

-84K

08:30 AM

USD Unemployment Rate (SEP)

6.1%

6.1%

6.1%

*All time is quoted in Eastern Time (ET).

Interest Rate Decision

This news release details the decision for the overnight lending rate, which affects borrowing rates for consumers and businesses. Higher rates are intended to slow an economy and stem inflation, while lower rates are meant to spur economic activity through increased borrowing and consumption. Currencies are bolstered in a rising rate environment, while declining rates have the opposite effect.

Change In Employment

This report provides the net change in the number of individuals employed in the country. Economists watch for a signal of increasing or decreasing job growth, as they are leading indicators that future consumption and expenditures will expand or contract accordingly.

Consumer Price Index (CPI)

This report is a key barometer for inflation in an economy. It measures the change in prices over a period for a predetermined basket of consumer goods and services that the average household will purchase. Increased costs for such goods represent an increase in the cost of living for the average family, which translates to declining purchasing power. A central bank is likely to raise rates to counteract inflation, which in turn will generally strengthen the underlying currency.

Retail Sales

This report acts as a barometer of consumer spending and sentiment, as it measures the total sales of goods and services by retail stores. Strong sales indicate bullishness on the part of consumers, which in turn translates to an expanding economy. Weaker sales indicate that consumers are cautious and less willing to consume, which in turn translates to contraction in the economy.

Trade Balance

The trade balance figure is simply the difference between the amount of export and imports of goods and services for the reported month between a country and other foreign trade partners. When exports are greater than imports, a trade surplus is created. When imports are greater than exports, a deficit is created. If there is more money leaving the country than actually coming in. As a result, the report is taken into heavy consideration as it indicates flow of goods and services and stand as one of the biggest components of the Balance of Payments report.

Gross Domestic Product

This report provides a barometer of the country’s overall economic health, measuring the production and consumption of goods and services. Strong GDP growth signals an expanding economy and raises concerns of inflation, portending the likelihood of rising rates. Contraction signals a slowing economy and the fear of recession, which generally leads to falling interest rates.

ISM Manufacturing Survey

This survey provides a barometer on the sentiment of executives toward inflation, business outlook (e.g. new orders, production, backlog, inventory levels, etc.) and labor conditions. Values over 50 indicate expansion, while values below 50 signal contraction.

Forex Day Trading - Short Term Trading, Not for Beginners

Day trading is exactly what it sounds like: trading that all takes place in one day. In day trading the short term is the main focus, meaning all entrances into, and exits from, the market need to take place on the same day. Often times day trades can take only a few hours to enter and end, with the hope that each trade nets a small profit, and that those small profits add up.

Day trading requires a quick entry and exit and the ability to efficiently use technical analysis and apply it directly to your trades. The strategy used by day traders isn’t to find one long term trade that does well, but to find several smaller trades that make a few pips here and a few pips there. At the end of the day the strategy is to have enough wins over losses that they add up to a solid profit for the trader.

Scalping is an extreme example of day trading in the Forex markets. Traders who employ scalping trading methods (appropriately nicknamed “scalpers”) are traders who buy into a position intending to see quick movement and profit off a short transaction, often times within a minute or a couple minutes of making their entry into the market. True scalping involves when a trader opens and closes a position in literally minutes—or sometimes even less than a minute!

This quick in and out is hoping that after a quick movement and show of profit, and immediate exit will in theory help minimize risk while collecting smaller profits bit by bit. This is an advanced type of trading, that shouldn’t be tried by pure beginners into the Forex market, though if you get a good system and some experience, this could become an option down the line.

And now I would like to offer you free access to a Forex trading system that is 89.1% accurate, so you can literally start trading the Forex today. You can access it now by going to: http://www.foreximpact.com/reports/89percent/

From Jason Fielder – Founder, ForexImpact.com

Forex Trading Education - Learn to Beat the Forex!

Forex trading education is critical if you want to be able to beat the odds against the world’s largest trading market. There are many different factors that affect each currency pair you would be looking to trade, and knowing those factors and how the Forex market works will give you a much better shot at cashing in your share of the major profits that experienced traders can make.

One of the first things you will want to know is the difference between technical and fundamental analysis. These are the two main ways of looking at trading in the Forex. Fundamentalists like to take a long term view on trades, and to look at all the overall factors of a nation’s economy and make their decisions based on general strength or weakness.

Technical traders have charts, trading systems, mathematical formulas, indicators - all sorts of technical tools designed to help them anticipate how a market is going to move, and to take advantage of it.

This isn’t saying that one is better than the other. Many traders use some combination of both, using the tools of a technical trader while watching the general economic reports that a fundamentalist trader would use. This is a great idea. Having all the charts say one thing about a currency pair is great, but if you’re on the wrong side of an interest rate rise or cut - ouch!

If there’s one piece of information you should get from Forex trading education that’s critical it’s this: to be a successful Forex trader, you absolutely must have a dependable, profitable Forex trading system!  If you take nothing else from this article, take that piece of gold to the bank.

And now I would like to offer you free access to a Forex trading system that is 89.1% accurate, so you can literally start trading the Forex today. You can access it now by going to: http://www.foreximpact.com/reports/89percent/

From Jason Fielder – Founder, ForexImpact.com

Forex Trading System - Finding a Forex Trading Strategy That Works

Finding a profitable and established Forex trading system can be a difficult thing to do. This can be frustrating to many traders, because without a trading system that they can trust, without that time tested strategy, their chances of making solid profits consistently are next to nothing.

One of the first things to look for is a system that adapts to market movements. If a system claims one strategy to be used all the time, it’s hard to believe that you’re making profits in sideways markets if you are trading a trend system. But if you have a Forex trading system that has strategies that adapt to changing markets, that can be a good sign of having a system that will make you profit over the long haul.

There are many Forex trading systems out there, not all of them can deliver on promises. There are several things you should look for when considering purchasing a Forex trading system.

Is there a money back guarantee? Reputable systems should allow for you to get your money back if you’re not satisfied.

How well established is this system? Has the company been around for years?

Does it fit your style? If you’re strong into fundamentals and long term trades, you don’t want a system designed for quick day trading or scalping. Likewise with the roles reversed.

If you take these factors into consideration and find a good Forex trading system that adapts to market conditions (like the Triad), you will be all set to make a killing in the Forex market!

And now I would like to offer you free access to a Forex trading system that is 89.1% accurate, so you can literally start trading the Forex today. You can access it now by going to: http://www.foreximpact.com/reports/89percent/

From Jason Fielder – Founder, ForexImpact.com

Online Forex Trading - The Only Way to Trade

Online Forex trading is really the only way to go when trading in Forex and is, in fact, the only way to get into currency trading in the forex market. Unlike the stock market and local commodity markets, the world wide Forex market doesn’t have a market floor where you can go and put in an order.

The changing of technology over the last twenty years, especially with the Internet advancing enough to allow online trading, has really opened the Forex market for any trader anywhere to be able to trade the Forex. Online Forex Trading is made possible through Forex trading platforms and software that allow traders to track currencies, analyze the charts and graphs, and make buy and sell decisions for currency pairs based on that information. Since the world market is always open somewhere, you can trade currency at virtually any time of the day or night, any day of the week.

Aside from finding a trustworthy and reliable online Forex platform that you can use to trade online, you will also want to have a successful, established, and reliable Forex trading system that will help guide you in how to buy and sell, go short or long, and make a lot of profit doing it.

The combination of these factors is what will determine whether or not you are poised for success as a Forex trader. It’s not enough just to have the best Forex platforms or software, but you need a trading system that you know is profitable and won’t let you down.  After all, it’s your money on the line.

And now I would like to offer you free access to a Forex trading system that is 89.1% accurate, so you can literally start trading the Forex today. You can access it now by going to: http://www.foreximpact.com/reports/89percent/

From Jason Fielder – Founder, ForexImpact.com

Forex Trading Strategy - Sorting Out Good from Lousy

Finding the right Forex trading strategy can be difficult, as there is so much information out there on the web that it can be hard to figure out which trading systems can actually make you profitable trading the Forex, and which are a bunch of garbage being sold from modern day snake oil salesmen.

To have an effective Forex trading strategy, you need to first understand the basics of how the Forex market. Get yourself as much information as possible. Having knowledge will help you be able to analyze what each sales pitch is promising and even throw up some red flags if a Forex trading system you’re looking at seems to employ a strategy that doesn’t make sense compared to what you’ve read about the markets.

At the very least you should understand the difference between technical analysis and fundamental analysis, and get an idea of how each views the Forex market. At this point, what you want is not a home made Forex trading strategy, but an established and effective Forex trading system that you can rely on to guide you to making a killing in the Forex market.

Finding a great strategy that can trade the market when it is trending, counter-trending, and in breakout modes will help to ensure that your forays into the Forex market will result in a growing bank account and a growing smile on your face.  Remember, when finding the right Forex trading strategy, you’re looking for a proven Forex trading system.

And now I would like to offer you free access to a Forex trading system that is 89.1% accurate, so you can literally start trading the Forex today. You can access it now by going to: http://www.foreximpact.com/reports/89percent/

From Jason Fielder – Founder, ForexImpact.com

Is Tech Trading Crap – Are the Charts Just Bull?

For someone who hasn’t spent a great deal of time trading in the Forex, the charts and all the hundreds of different claims about news breakout systems can be really confusing. Some of the claims can seem outright ridiculous at times. If profit was guaranteed, why would anyone do or use anything else? With all these systems it’s easy to wonder: is tech trading crap – or do all those charts really mean something?

This question can be even more confusing for some people when they realize there are Forex traders who believe in fundamental analysis of the market, basically looking at the larger economic picture to determine which currencies to bet on and bet against.

So is tech trading crap? The answer is no, though with an asterisk. Good technical trading is necessary to be able to figure out which currencies are overvalued and which are undervalued. Knowing this information will make it much easier to locate where your entries and exits should be, and gives you a much better chance of being profitable.

On the other hand, tech trading can get into trouble when it only follows charts and ignores the economic reports that come out. If an economic report spells trouble, that currency is going to fall no matter what previous chart analysis said. Without paying attention to the economic reports and other similar indicators, technical analysis falls into pitfalls that can badly hurt your account.

You don’t need an astrologer to read the stars and tell you it’s going to flood. If it gets cloudy and starts to rain, head for the high ground.

Technical analysis is an extremely useful tool – if it wasn’t then nobody would actually use it – but use it wisely with fundamental analysis for the best results and you will be a very happy trader!

And now I would like to offer you free access to a Forex trading system that is 89.1% accurate, so you can literally start trading the Forex today. You can access it now by going to: http://www.foreximpact.com/reports/89percent/

From Jason Fielder – Founder, ForexImpact.com

Forex Black Boxes: Easy Money, or Complete B.S.?

If you’ve looked around for strategies on trading in the Forex market, there’s no doubt you’ve run across a lot of ads talking about the power of a black box system. Some sound intriguing, others sound way too good to be true. So what’s the truth behind these black box systems?

First of all, I’m going to start by saying that not every black box system is bad. Some are extremely effective depending on what the market is doing, and some systems are designed pretty well to deal with the changes in the Forex market. That being said, there are several things that you’ll need to consider and watch out for before deciding on whether or not to trust your real money to one of these black box systems.

A black box system is one that has been worked on by statisticians and traders to figure out that mathematical formula that is going to help them make the right trade and predict where the market is going to go. If it works, the profits can be great.

But there are several things to look out for, including:

• The system’s past track record
• Is there a money back guarantee?
• Does the system require a large up front payment?
• Is it designed for all three market movements, or just one?

The Triad strategy for Forex trading takes into account that the market only moves three ways: trending, counter-trending, and breakout, and this system has a strategy for all three. Some black boxes may have a great trading strategy for a trending market, but what happens when the market counter-trends? Or the black box may have a great breakout strategy, but the market is rarely in a breakout, so how is that going to perform the majority of the time?

These are all extremely important questions to consider with any black box, as it is YOUR real hard earned money that will be at risk. 

In addition, try to do some research and make sure that the system has an actual record of profit. If it doesn’t, that should throw up some immediate red flags. Systems that have large up front fees with no money-back guarantees are also usually ones that you will want to avoid.

The last major thing to be wary of is over optimization. This is when all the data and successful signals are optimized to the point that instead of having a pattern that predicts the future, you have “curve fitting” where you make a line going through all the profitable points without developing an actual projection. This makes it look like a slam dunk because it includes a “successful” past, but it has no ability to predict the future and therefore doesn’t give you any advantage.

In the end black boxes are like anything else: there’s no Holy Grail, but there are solid systems and programs that can help traders make more off the Forex market. As always, look for a proven system that has a history of profitable trades, and when you find it, don’t be afraid to act!

And now I would like to offer you free access to a Forex trading system that is 89.1% accurate, so you can literally start trading the Forex today. You can access it now by going to: http://www.foreximpact.com/reports/89percent/

From Jason Fielder – Founder, ForexImpact.com

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