Global Economic Calendar- June 14-19

June 14 - June 19, 2009
Date	Time*	Currency	Event	Actual	Forecast	Previous
Mon Jun 15			JPY BOJ Target Rate	-	.10%	.10%
	00:00 AM		JPY BoJ Monetary Policy Meeting	-	-	-
	04:00 AM		EUR Italian Labor Costs (Q1) (YoY)	0.6%	-	4.0% (R+)
	09:00 AM		USD Net Long-term TIC Flows (APR)	$11.2B	$59.2B	$55.4B (R-)
	09:00 AM		USD Total Net TIC Flows (APR)	-$53.2B	-	%25.0B (R+)
	23:00 PM		NZD Non Resident Bond Holdings (MAY)	73.3%	-	71.3%
Tue Jun 16	04:30 AM		GBP UK Consumer Price Index (MoM) (MAY)	0.6%	0.3%	0.2%
	04:30 AM		GBP UK Consumer Price Index (YoY) (MAY)	2.2%	2.0%	2.3%
	04:30 AM		GBP UK Core CPI (YoY) (MAY)	1.6%	1.5%	1.5%
	05:00 AM		EUR German ZEW Survey (Econ. Sentiment) (JUN)	44.8	35.0	31.1
	05:00 AM		EUR German ZEW Survey (Current Situation) (JUN)	-89.7	-92.6	-92.8
	05:00 AM		EUR Euro-Zone Consumer Price Index (YoY) (MAY)	0.0%	0.0%	0.0%
	05:00 AM		EUR Euro-Zone Consumer Price Index - Core (YoY) (MAY)	1.5	1.6%	1.8%
Wed Jun 17	04:30 AM		GBP Bank of England Minutes	-	-4.1%	-4.1%
	04:30 AM		GBP Jobless Claims Change (MAY)	39.3K	60.0K	49.6K(R-)
	08:30 AM		USD Consumer Price Index (YoY) (MAY)	-1.3%	-0.9%	-0.7%
	08:30 AM		USD Consumer Price Index Ex Food & Energy (YoY) (MAY)	1.8%	1.8%	1.9%
	08:30 AM		USD Consumer Price Index Core Index s.a. (MAY)	218.910	-	218.594
	12:00 PM		USD Fed’s Bernanke Speaks at Financial Literacy Summit in D.C.	-	-	-
Thu June 18	03:30 AM		CHF Swiss National Bank Rate Decision (JUN 18)	0.25%	0.25%	0.25%
	07:00 AM		CAD Consumer Price Index (YoY) (MAY)	0.1%	-0.2%	0.4%
	07:00 AM		CAD Bank Canada Consumer Price Index Core (YoY) (MAY)	2.0%	1.6%	1.8%

*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.
*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.