Forex Calendar at Tue - 11 Dec 2007

Forex Calendar for Tomorrow Tue - 11 Dec 2007

Time(GMT):	Currency:	Event:	Forecast:	Previous:
5:00am	JPY	Household Confidence	42.8	42.8
	Measures the mood of households in regard to economic conditions. The reading is derived from a monthly survey that asks households to evaluate the prospects for the economy in the future. Higher readings point to higher consumer optimism. When consumers are optimistic they tend to purchase more goods and services, which stimulates the economy.
7:00am	AUD	RBA Governor Stevens Speaks
H O T	Reserve Bank of Australia (RBA) Governor Glenn Stevens will speak at the Sydney Institute, in Sydney. As head of the central bank's governing body, which is responsible for setting the nation's short term interest rate, his speeches can sometimes cause market volatility as traders react to clues regarding future monetary policy.
9:30am	GBP	Trade Balance	-7.4B	-7.8B
H O T	Measures the difference in value between imported and exported goods. A positive Trade Balance indicates that more goods were exported than imported over a given period. A rising trend has a positive effect on the nation's currency. When higher levels of exports are sold to the world, demand for the nation's currency is elevated as foreigners convert their native currency to purchase the exports. The Trade Balance also has a sizable impact on GDP because high demand for exports creates increased employment and production, as domestic factories work to fill this demand.
9:30am	GBP	German ZEW Economic Sentiment	-34.5	-32.5
H O T	Zentrum für Europäische Wirtschaftsforschung (ZEW) Economic Sentiment measures institutional investor sentiment. The monthly indicator reflects the difference between the share of investors that are optimistic and the share of investors that are pessimistic. For example, if 30% of participants expect the economic situation to improve within the next six months, 30% expect no change and 40% expect the economic situation to deteriorate, the ZEW Indicator of Economic Sentiment would take a value of -10. Thus, a positive number means that the share of optimists outweighs the share of pessimists.
7:15pm	USD	Sentix Investor Confidence	4.25%	4.50%
H O T	Eight times per year the Federal Open Market Committee (FOMC) votes on where to set the nation's short term interest rate (i.e., "federal funds rate"). Shortly after each vote, the FOMC releases a statement that contains the outcome of their vote, a brief commentary of the economic conditions that effected their decision, and most importantly, clues regarding the outcome of future votes. A rising trend in interest rates has a positive effect on the nation's currency. Short term rates are the paramount factor in currency valuation; traders look at most other indicators merely to predict how interest rates may change in the future. High interest rates attract foreigners looking for the best "risk-free" return on their money, which can dramatically increases demand for the nation's currency. The decision on where to set interest rates depends mostly on inflation. The primary objective of the central bank is to achieve price stability; when inflation rises above an annualized rate of approximately 2%, they will respond by raising interest rates in an attempt to bring prices down.
1:15pm	CAD	Discount Rate	4.75%	5.00%
H O T	Eight times per year the Federal Open Market Committee (FOMC) votes on where to set the nation's short term interest rate (i.e., "federal funds rate"). The discount rate, which is the interest rate charged to commercial banks and other depository institutions on loans they receive from their regional Federal Reserve Bank's lending facility, is usually moved in tandem with the federal funds rate, but can also be moved independently. A rising trend in interest rates has a positive effect on the nation's currency.
11:50pm	JPY	CGPI y/y
	The Corporate Goods Price Index (CGPI) measures the rate of inflation (i.e., the rate of price changes) experienced by corporations when purchasing goods. A rising trend has a positive effect on the nation's currency because when businesses pay more for goods, they are likely to pass the higher costs to the consumer.