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Important Forex News On 07 December 2016 | Forexing24

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Important Forex News On 07 December 2016 | Forexing24

Important Forex News:Manufacturing Production m/m

Currency NameNews Name     Actual   Forecast  Previous
GBPManufacturing Production m/m???0.2%0.6%
SourceLatest Release
MeasureChange in the total inflation-adjusted value of output produced by manufacturers;
Usual EffectActual > Forecast = Good for currency;
FrequencyReleased monthly, about 40 days after the month ends;
Why Trade CareManufacturing makes up around 80% of total Industrial Production and tends to dominate the market impact;
Derived ViaIt’s a leading indicator of economic health – production reacts quickly to ups and downs in the business cycle and is correlated with consumer conditions such as employment levels and earnings;

Overnight Rate

Currency NameNews Name     Actual   Forecast  Previous
CADOvernight Rate???0.50%0.50%
SourceLatest Release
MeasureInterest rate at which major financial institutions borrow and lend overnight funds between themselves;
Usual EffectActual > Forecast = Good for currency;
FrequencyScheduled 8 times per year;
Why Trade CareShort term interest rates are the paramount factor in currency valuation – traders look at most other indicators merely to predict how rates will change in the future;
Derived ViaBOC Governing Council members come to a consensus on where to set the rate;

Crude Oil Inventories

Currency NameNews Name     Actual   Forecast  Previous
USDCrude Oil Inventories???-1.4M-0.9M
SourceLatest Release
MeasureChange in the number of barrels of crude oil held in inventory by commercial firms during the past week;
Usual EffectNo consistent effect – there are both inflationary and growth implications;
FrequencyReleased weekly, 4 days after the week ends;
Why Trade CareIt influences the price of petroleum products which affects inflation, but also impacts growth as many industries rely on oil to produce goods;
Derived ViaCrude Stocks, Crude Levels;

RBNZ Gov Wheeler Speaks

Currency NameNews Name     Actual   Forecast  Previous
NZDRBNZ Gov Wheeler Speaks
DescriptionDue to testify before the Finance Select Committee, in Wellington;
SourceLatest Release
SpeakerRBNZ Governor Graeme Wheeler;
Usual EffectMore hawkish than expected = Good for currency;
FF NotesRBNZ Governor Sep 2012 – Sep 2017. Volatility is often experienced during his speeches as traders attempt to decipher interest rate clues;
Why Trade CareAs head of the central bank, which controls short term interest rates, he has more influence over the nation’s currency value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy;
Acro ExpandReserve Bank of New Zealand (RBNZ);

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