Good morning traders, here’s the news you’ll need to look out for during the London session today and it’s relative impact. I’ll be sending out a tweet 30 minutes before each one of these is announced as a reminder so make sure you’re following me on Twitter. I’ll also try and tweet the results as soon as they come out.
Halifax HPI
Time: 7:00am GMT
Impact: High
Currency: GBP
Source: Halifax Bank of Scotland
Result: 1.1% (better than expected)
This is the monthly House Prices Index from Halifax Bank of Scotland (HBOS). This may come out today but we don’t know for sure because HBOS doesn’t announce the exact date and time until very soon before the release. This is a high impact announcement because it is a leading indicator as to the health of the housing market.
Manufacturing Production
Time: 8:30am GMT
Impact: High
Currency: GBP
Source: National Statistics
Result: 0.4% (better than expected)
This is the change in the value of manufacturing output. It’s a high impact announcement because it is a leading indicator of economic health due to manufacturing’s fast reaction to changes in the economy.
Services PMI
Time: 8:30am GMT
Impact: High
Currency: GBP
Source: CIPS
Result: 53.2 (better than expected)
Services PMI is an index based on a survey of purchasing managers in the services industry. It’s a good indicator of economic health, hence the high level of impact.
Retail Sales
Time: 9:00am GMT
Impact: Medium
Currency: EUR
Source: Eurostat
Result: -0.2% (worse than expected)
An indicator of consumer confidence, this release only has a medium impact because France and Germany make separate, earlier announcements which relate to around half of the eurozone’s economy.
ADP Non-Farm Employment Change
Time: 12:15pm GMT
Impact: High
Currency: USD
Source: Automatic Data Processing, Inc.
Result: -371k (worse than expected)
This announcement releases the change in the number of employed people in the U.S. according to payroll services company, Automatic Data Processing, Inc. This is a good indicator of economic health because the number of employed persons impacts consumer spending.
ISM Non-Manufacturing PMI
Time: 2:00pm GMT
Impact: High
Currency: USD
Source: Institute for Supply Management
Result: 46.4 (worse then expected)
This is an index based on a survey of about 400 purchasing managers in the non-manufacturing industries. It’s a good indicator of economic health, hence the high level of impact.
Factory Orders
Time: 2:00pm GMT
Impact: Medium
Currency: USD
Source: Census Bureau
Result: 0.4% (better than expected)
This announcement releases the total value of orders placed with manufacturing companies, indicating the level of production demand in the economy. Broadly, a higher figure is better for the economy.
Crude Oil Inventories
Time: 2:30pm GMT
Impact: Medium
Currency: USD, CAD
Source: Energy Information Administration
Result: 1.7M
This indicates the number of barrels of oil that are held by commercial companies. It influences the price of crude oil but also growth because of the reliance on oil.
