Important Forex News On 16 December 2016 | Forexing24
Important Forex News: RBNZ Gov Wheeler Speaks
| Currency Name | News Name | Actual | Forecast | Previous |
| NZD | RBNZ Gov Wheeler Speaks | |||
| Description | Due to deliver a speech titled “Some Thoughts on New Zealand’s Economic Expansion,” in Greymouth; | |||
| Source | Latest Release | |||
| Speaker | RBNZ Governor Graeme Wheeler; | |||
| Usual Effect | More hawkish than expected = Good for currency; | |||
| Acro Expand | Reserve Bank of New Zealand (RBNZ); | |||
| Why Trade Care | As 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; | |||
| FF Notes | RBNZ Governor Sep 2012 – Sep 2017. Volatility is often experienced during his speeches as traders attempt to decipher interest rate clues; | |||
Trade Balance
| Currency Name | News Name | Actual | Forecast | Previous |
| CNY | Trade Balance | 298B | 307B | 325B |
| Source | CGAC | |||
| Measure | Difference in value between imported and exported goods during the previous month; | |||
| Usual Effect | Actual > Forecast = Good for currency; | |||
| Frequency | Released monthly, about 10 days after the month ends; | |||
| Why Trade Care | Export demand and currency demand are directly linked because foreigners usually buy the domestic currency to pay for the nation’s exports. Export demand also impacts production and prices at domestic manufacturers; | |||
| Acro Expand | Customs General Administration of China (CGAC); | |||
Minimum Bid Rate
| Currency Name | News Name | Actual | Forecast | Previous |
| EUR | Minimum Bid Rate | ??? | 0.00% | 0.00% |
| Source | Latest Release | |||
| Measure | Interest rate on the main refinancing operations that provide the bulk of liquidity to the banking system; | |||
| Usual Effect | Actual > Forecast = Good for currency; | |||
| Frequency | Scheduled 8 times per year; | |||
| Why Trade Care | Short 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 Via | The 6 members of the ECB Executive Board and 15 of the 19 governors of the Euro area central banks vote on where to set the rate, via rotation. The split of votes is not publicly revealed; | |||
Important Forex News : Unemployment Claims
| Currency Name | News Name | Actual | Forecast | Previous |
| USD | Unemployment Claims | ??? | 258K | 268K |
| Source | Latest Release | |||
| Measure | The number of individuals who filed for unemployment insurance for the first time during the past week; | |||
| Usual Effect | Actual < Forecast = Good for currency; | |||
| Frequency | Released weekly, 5 days after the week ends; | |||
| Why Trade Care | Although it’s generally viewed as a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labor-market conditions. Unemployment is also a major consideration for those steering the country’s monetary policy; | |||
| Derived Via | Jobless Claims, Initial Claims; | |||
Add Comment