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Important Forex News On 16 December 2016 | Forexing24

Important Forex News On 16 December 2016 | Forexing24

Important Forex News On 16 December 2016 | Forexing24

Important Forex News: RBNZ Gov Wheeler Speaks

Currency NameNews Name    Actual  Forecast Previous
NZDRBNZ Gov Wheeler Speaks
DescriptionDue to deliver a speech titled “Some Thoughts on New Zealand’s Economic Expansion,” in Greymouth;
SourceLatest Release
SpeakerRBNZ Governor Graeme Wheeler;
Usual EffectMore hawkish than expected = Good for currency;
Acro ExpandReserve Bank of New Zealand (RBNZ);
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;
FF NotesRBNZ Governor Sep 2012 – Sep 2017. Volatility is often experienced during his speeches as traders attempt to decipher interest rate clues;

Trade Balance

Currency NameNews Name    Actual  Forecast Previous
CNYTrade Balance298B307B325B
MeasureDifference in value between imported and exported goods during the previous month;
Usual EffectActual > Forecast = Good for currency;
FrequencyReleased monthly, about 10 days after the month ends;
Why Trade CareExport 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 ExpandCustoms General Administration of China (CGAC);

Minimum Bid Rate

Currency NameNews Name    Actual  Forecast Previous
EURMinimum Bid Rate???0.00%0.00%
SourceLatest Release
MeasureInterest rate on the main refinancing operations that provide the bulk of liquidity to the banking system;
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 ViaThe 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 NameNews Name    Actual  Forecast Previous
USDUnemployment Claims???258K268K
SourceLatest Release
MeasureThe number of individuals who filed for unemployment insurance for the first time during the past week;
Usual EffectActual < Forecast = Good for currency;
FrequencyReleased weekly, 5 days after the week ends;
Why Trade CareAlthough 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 ViaJobless Claims, Initial Claims;

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Saimon Akash

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