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Euro-Zone Economic Indicators

Type of Economic Report


Interest Rates

Report Impact Big Picture Currency Effect Description
 ECB
Rate Announce

if actual>forecast, 
bullish for EUR

The six members of the European Central Bank (ECB) Executive Board and the 16 governors of the euro area central banks vote on where to set the rate. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation
 ECB President
Speaks

  if actual > forecast, bullish for EUR


As head of the ECB, which sets short term interest rates, the president has a major influence over the value of the euro. Traders watch his speeches closely as they are often used to drop subtle hints regarding future monetary policy and interest rate shifts

Inflation

Report Impact Big Picture Currency Effect Description
 EU Consumer Price
Index (CPI) and Core

if actual >
forecast, 
bullish for EUR

Measures the change in the prices of a basket of goods and services purchased by consumers, and thus designed to measure price inflation. 
 EU
CPI Core

  if actual > forecast, bullish for EUR

Measures the change in the prices of a basket of goods and services, excluding food and energy. 
  EU Producer Price Index (PPI)
  if actual > forecast, bullish for EUR

Measures the change in the price of goods sold by manufacturers.  
 EU Labor Costs   if actual > forecast, bullish for EUR

Measures the change in the price businesses pay for labor, excluding overtime, and a leading indicator of inflation. 
 EU M3  

Measures the change in the total quantity of domestic currency in circulation and deposited in banks, with increasing supply leading to addition spending, which in turn leads to inflation.
 GE CPI & Core   if actual > forecast, bullish for EUR

Measures the change in the prices of goods and services purchased by consumers.
 FR CPI   if actual > forecast, bullish for EUR

Measures the change in the prices of goods and services purchased by consumers. 

Balance of Payments

Report Impact Big Picture Currency Effect Description
 EU Trade Balance if actual
> forecast,
bullish for EUR
Exports minus imports. Trade surplus means that the euro-zone is exporting more than its importing, which is good for Euro. 
 EU 
Current Account
if actual > forecast, bullish for EUR

Measures the flow of goods, services, income and transfer payments moving into and out of a country. More money flowing into the zone (a current account surplus) means more people have been required to buy euros. More money flowing out of the zone (a current account deficit) leads to currency depreciation because the currency is leaving the country to make payments in a foreign currency.  
 GE
Trade Balance
Exports minus imports. Germany is the largest European economy and exports are a big component. Trade surpluses outside the euro zone help strengthen the euro's value. 
 
 FR
Trade Balance
  if actual > forecast, bullish for EUR

Exports minus imports. France is the second largest economy in Europe and if it has trade surplus, this can be good for the Euro. 

Employment

Report Impact Big Picture Currency Effect Description
 EU Unemploy
ment
if actual >
forecast, 
bearish for EUR

The Unemployment Rate measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month. The data tends to have a muted impact as there are several earlier indicators related to labor conditions in the euro zone.
 GE
Employ
ment
Change
  if actual > forecast, bullish for EUR

Employment Change measures the change in the number of people employed. Job creation is an important indicator of consumer spending.
 GE
Unemploy
ment
if actual > forecast, bearish for EUR

The Unemployment Rate measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month. The data tends to have a muted impact as there are several earlier indicators related to labor conditions in the euro zone.
 
French Unemploy
ment 

  if actual > forecast, bearish for EUR

The Unemployment Rate measures the percentage of the total work force that is unemployed and actively seeking employment during the previous month. The data tends to have a muted impact as there are several earlier indicators related to labor conditions in the euro zone.

Economic Activity

Report Impact Big Picture Currency Effect Description
 EU 
GDP (Y/Y)
if actual >
forecast, 
bullish for EUR

Measures the total value of goods and services produced by Euro-zone nations. Robust growth signals more economic activity, which is good for currency; moreover, economic expansion raises concerns about inflation and central bank tendency to increase interest rates to curb it (and increased interest rate is also good for currency). 
 GE Factory Orders
(M/M)
  if actual > forecast, bullish for EUR

Measures the change of new domestic factory purchases. If there are significant orders from outside the euro zone, this can result in upward pressure on the euro. 
 GE Industrial 
Production
(M/M)
if actual > forecast, bullish for EUR

Measures the volume change in output from German manufacturing, mining, energy and construction sectors,  and is a short term measure of strength in the German industrial activity.  
 
FR
Industrial 
Production
(M/M)
  if actual > forecast, bullish for EUR

Measures the volume change in output from French manufacturing, mining, energy and construction sectors,  and is a short term measure of strength in the French industrial activity.  
 EU
Retail Trade (Sales)
  if actual > forecast, bullish for EUR


 GE
House Price Index (M/M)
  if actual >
forecast, 
bullish for EUR

The House Price Index (HPI) measures the change in the selling price of homes. It is a leading indicator of health in the housing sector.
 FR House Price Index
(Q/Q)
  if actual > forecast, bullish for EUR

The House Price Index (HPI) measures the change in the selling price of homes. It is a leading indicator of health in the housing sector.
Spanish House Price Index
(Y/Y)

  if actual > forecast, bearish for EUR

The House Price Index (HPI) measures the change in the selling price of homes. It is a leading indicator of health in the housing sector.

Confidence and Sentiment Reports

Report Impact Big Picture Currency Effect Description
 GE
ZEW Survey


if actual >
forecast, 
bullish for EUR

Measures the sentiment of 350 German institional investors and analysts and reflects the net result of their view of the medium-term forecast and current situation of Germany and whole Euro-zone. Headline number is the difference between those experts that are optimistic and those that are pessimistic, with higher numbers indicating a stronger economy. 
OECD Euro-zone Leading Indicator
  if actual > forecast, bullish for EUR


 EU Consumer Confidence
(M/M)
if actual > forecast, bullish for EUR

Measures consumer confidence in economic performance, with rising confidence acting as a precursor to consumer expenditures witch drive economic expansion. The headline is expressed as a percentage change from the previous period.  
 EU Industrial
Confidence
  if actual > forecast, bullish for EUR

Measure of the prevailing sentiment among industrial executives, with increasing confidence acting as a precursor to business spending and investment that leads to higher output and GDP growth. The headline is expressed as the difference between positive and negative responses, with higher numbers indicating a stronger economy. 
 EU Economic
Confidence
  if actual > forecast, bullish for EUR

Measures the overall sentiment toward the economy, with rising number reflecting bullish attitude toward the economy.
 EU Services
Confidence
  if actual > forecast, bullish for EUR

Measures the overall sentiment in the service sector, with service sector accounting for two thirds of total Euro-zone GDP. Rising number suggests future upward trends for production and employment. 
 GE
Consumer Confidence
  if actual > forecast, bullish for EUR

Measures consumer confidence in economic performance, with rising confidence acting as a precursor to consumer expenditures witch drive economic expansion. The headline is expressed as a percentage change from the previous period.
 FR
Business
Confidence
  if actual > forecast, bullish for EUR

Measure of the prevailing sentiment among French business leaders, with increasing confidence acting as a precursor to business investment that leads to higher output. The headline is expressed as the difference between positive and negative responses. 

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