Event on Sunday, 3 December 2007

Time(GMT):	Currency:	Event:	Forecast:	Previous:
12:30am	AUD	Trade Balance	-1.8B	-1.9B
	Measures the difference in value between imported and exported goods and services. A positive Trade Balance indicates that more goods and services 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.
12:30am	AUD	Company Gross Operating Profits q/q	1.9%	1.4%
	Measures the total amount of pre-tax profits earned by businesses with greater than 20 employees. A rising trend has a positive effect on the nation's currency because good business conditions are a sign of a strong economy.
All Day	ALL	GCC Summit, Day 1
	The Gulf Cooperation Council (GCC) will hold a two-day summit in Doha to discuss, among other topics, Iran's relations with the council, inflation, and oil's dollar peg. The council is made up of six Persian Gulf states - Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates - who supply more than 20% of the world's crude oil. GCC officials will likely be speaking to the press throughout the day, and traders will be watching to see if the council makes any signals that they will price oil against a basket of currencies.
9:30am	GBP	Manufacturing PMI	52.5	52.9
	The Chartered Institute of Purchasing and Supply (CIPS) Manufacturing Purchasing Manager's Index (PMI) measures the activity level of purchasing managers in the manufacturing sector, with a reading above 50 indicating expansion. A rising trend has a positive effect on the nation's currency. To produce the index, purchasing managers are surveyed on a number of subjects including employment, production, new orders, supplier deliveries, and inventories. Traders watch these surveys closely because purchasing managers, by virtue of their jobs, have early access to data about their company’s performance, which can be a leading indicator of overall economic performance.
9:30am	EUR	ECB President Trichet Speaks
	European Central Bank (ECB) President Jean-Claude Trichet will deliver a speech titled “Achieving the Integration of European Financial Markets in a Global Context” at the Eurofi conference, in Brussels. As head of the central bank's governing body, which is responsible for setting the euro zone's short term interest rate, his speeches can sometimes cause market volatility as traders react to clues regarding future monetary policy.
3:00pm	USD	ISM Manufacturing Index	51.9	50.9
	The Institute of Supply Management (ISM) Manufacturing Index measures the activity level of purchasing managers in the manufacturing sector, with a reading above 50 indicating expansion. A rising trend has a positive effect on the nation's currency. To produce the index, purchasing managers are surveyed on a number of subjects including employment, production, new orders, supplier deliveries, and inventories. Traders watch these surveys closely because purchasing managers, by virtue of their jobs, have early access to data about their company’s performance, which can be a leading indicator of overall economic performance.
3:00pm	USD	ISM Manufacturing Prices	65.5	63.0
	The Institute of Supply Management (ISM) Manufacturing Prices measures the monthly inflation experienced by manufacturing organizations when purchasing materials and services. The ISM surveys 400 firms to produce this index.