Date
GMT+01:00
Event Value
May, 17 23:45
FOMC Member Charles Evans Speaks
FOMC Member Charles Evans Speaks
Country:
Date: May, 17 23:45
Importance: Low
Previous: -
Forecast: -
Actual: -
Period: -

Charles L. Evans is the ninth President and chief executive officer of the Federal Reserve Bank of Chicago. In that capacity, he serves on the Federal Open Market Committee (FOMC), the Federal Reserve System's monetary policy-making body.

May, 18 00:50
★★★
Gross Domestic Product
Gross Domestic Product
Country:
Date: May, 18 00:50
Importance: High
Previous: 1.1%; 4.6%
Forecast: -0.4%; -1.8%
Actual: -
Period: 1 quarter

A comprehensive measure of Japan's overall production and consumption of goods and services. GDP is a significant report in FX Market, serving as one of the primary indicators of a country\\\'s overall economic health.

Robust GDP growth signals a heightened level of economic activity and often a higher demand for the domestic currency. At the same time, economic expansion raises concerns about inflationary pressures which may prompt monetary authorities to increase interest rates. Thus positive GDP readings are generally bullish for the Yen, while negative readings are generally bearish.

Most production reports that lead to Japanese GDP are released before the official GDP number. Therefore, actual GDP figures usually confirm expectations. However, an unexpected release can move markets due to the significance of the figure.

Technically, Gross Domestic Product is calculated in the following way:

GDP = C + I + G + (EX - IM)

where
C = private consumption
I = private investment
G = government expenditure
EX = exports of goods and services
IM = imports of goods and services

The headline figures for GDP are the percentage growth rate from the previous quarter and the annualized percentage change in GDP. Prices used are benchmarked to 1997 prices.

1.1%; 4.6%
May, 18 00:50
★★
GDP Deflator
GDP Deflator
Country:
Date: May, 18 00:50
Importance: Medium
Previous: -1.3%
Forecast: -1.0%
Actual: -
Period: 1 quarter

Broad gauge of inflationary pressures. The GDP Deflator is different from the Consumer Price Index in that it does not take into account changes in the prices of imports and tends to underestimate price changes. The Gross Domestic Product Deflator is also untimely, released quarterly about two months after the reporting period. Nonetheless, it is highly correlated with the CPI and a key indicator of inflation. Consequently, the deflator provides insight into the future direction of monetary policy as the Bank of Japan is inclined to raise interest rates when faced with higher inflation.

Specifically the deflator measures the magnitude of changes in prices for all domestically produced final goods. It is the ratio of output in current prices (nominal GDP) to inflation-adjusted output (real GDP). The headline value is the percentage change in the GDP Deflator from the previous quarter.

-1.3%
May, 18 01:30
MI Leading Index
MI Leading Index
Country:
Date: May, 18 01:30
Importance: Low
Previous: 0.3%
Forecast: -
Actual: -
Period: Apr

A leading indicator for Australian economic activity calculated by Melbourne Institute.

0.3%
May, 18 02:30
★★
Wage Cost Index
Wage Cost Index
Country:
Date: May, 18 02:30
Importance: Medium
Previous: 0.7% q/q; 2.3% y/y
Forecast: 0.8%; 2.5%
Actual: -
Period: 1 quarter

Measures quarterly changes in Australian wages. Two versions of the Labor Price Index exist: one which includes bonuses, and one which excludes them. The Labor Price Index is similar to the US Employment Cost Index, an early indicator of wages pressure on inflation. An increase in the index suggests rising inflation pressures because firms tend to eventually pass higher labor costs onto consumers in the form of higher prices.

The headline figure is the quarterly percentage change in the Labor Price Index.

Technical note: The index is constructed by combining 8 separate indexes. The 4 wage price indices are:
• ordinary time hourly rates of pay excluding bonuses index
• ordinary time hourly rates of pay including bonuses index
• total hourly rates of pay excluding bonuses index
• total hourly rates of pay including bonuses index

The 4 non-wage price indices are:
• annual and public holiday leave
• superannuation
• payroll tax
• workers' compensation

0.7% q/q; 2.3% y/y
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