NEWS AND CALENDAR 23-11-2017

23.11.2017 GMT+1

TIME CURRENCY IMPORTANCE EVENT ACTUAL FORECAST PREVIOUS
09:30 EUR HIGH German Manufacturing PMI (Nov)- preliminary report 60.4 60.6
09:30 EUR Medium German Services PMI (Nov)-preliminary report 55.0 54.7
09:30 EUR Medium ECB Praet Speaks
10:00 EUR Medium Manufacturing PMI (NoV)-preliminary report 58.3 58.5
10:00 EUR Medium Markit Composite PMI (Nov)-preliminary report 56.0 56.0
10:00 EUR Medium Services PMI (Nov)-preliminary report 55.1 55.0
10:30 GBP Medium Business Investment (QoQ)(Q3)-preliminary report 0.4% 0.5%
10:30 GBP HIGH GDP (QoQ)(Q3)-preliminary report 0.4$ 0.4%
10:30 GBP HIGH GDP (YoY)(Q3)-preliminary report 1.5% 1.5%
13:30 EUR HIGH ECB Publishes Account of Monetary Policy Meeting
19:15 EUR Medium ECB Coeure Speaks

 

 

EXPLANATION OF THE ECONOMIC NEWS

 

  1. The German Manufacturing Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the manufacturing sector. A reading above 50 indicates expansion in the sector; below indicates contraction. Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance. A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.

 

  1. The German Services Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the services sector.The report is based on surveys of over 300 business executives in private sector services companies.Data is usually released on the third working day of each month.Each response is weighted according to the size of the company and its contribution to total manufacturing or services output accounted for by the sub-sector to which that company belongs.Replies from larger companies have a greater impact on the final index numbers than those from small companies. Results are presented by question asked, showing the percentage of respondents reporting an improvement, deterioration or no change since the previous month.From these percentages, an index is derived: a level of 50.0 signals no change since the previous month, above 50.0 signals an increase (or improvement), below 50.0 a decrease (or contraction).Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance.A higher than expected reading should be taken as positive/bullish for the EUR , while a lower than expected reading should be taken as negative/bearish for the EUR.

 

  1. Peter Praet, member of the Executive Board of the European Central Bank, is set to speak. His speeches often contain indications on the future possible direction of monetary policy.

 

  1. The Manufacturing Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the manufacturing sector. A reading above 50 indicates expansion in the sector; below 50 indicates contraction. Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance. A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.

 

  1. The PMI monthly Composite Reports on Manufacturing and Services are based on surveys of over 300 business executives in private sector manufacturing companies and also 300 private sector services companies. Data is usually released on the third working day of each month. Each response is weighted according to the size of the company and its contribution to total manufacturing or services output accounted for by the sub-sector to which that company belongs. Replies from larger companies have a greater impact on the final index numbers than those from small companies. Results are presented by question asked, showing the percentage of respondents reporting an improvement, deterioration or no change since the previous month. From these percentages, an index is derived: a level of 50.0 signals no change since the previous month, above 50.0 signals an increase (or improvement), below 50.0 a decrease (or contraction).

 

  1. The Euro-zone Services Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the services sector.The report is based on surveys of about 600 business executives in private sector services companies.Data is usually released on the third working day of each month.Each response is weighted according to the size of the company and its contribution to total manufacturing or services output accounted for by the sub-sector to which that company belongs.Replies from larger companies have a greater impact on the final index numbers than those from small companies. Results are presented by question asked, showing the percentage of respondents reporting an improvement, deterioration or no change since the previous month.From these percentages, an index is derived: a level of 50.0 signals no change since the previous month, above 50.0 signals an increase (or improvement), below 50.0 a decrease (or contraction).Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance.A higher than expected reading should be taken as positive/bullish for the EUR , while a lower than expected reading should be taken as negative/bearish for the EUR.

 

  1. Business Investment measures the change in the total inflation-adjusted value of capital expenditure made by companies in the private sector. A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.

 

  1. Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health. A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.

 

  1. Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy’s health. A higher than expected reading should be taken as positive/bullish for the GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.

 

  1. Benoit Coeuré, member of the Executive Board of the European Central Bank, is set to speak. His speeches often contain indications on the future possible direction of monetary policy.