Tuesday 12th September
02:00 AM ET
UK Unemployment Change
What is it?
Change in the number of people claiming unemployment-related benefits during the previous month, released by the ONS (Office National Statistics). As the UK provides a lot of benefits to its population, requiring a lot of money, the more people that sign on, the money that will have to be pooled from the government’s budget to support people.
What to expect:
Due to these circumstances, a decrease in the figure will be bearish for GBP, with the opposite occurring should the figure be higher.
UK Unemployment Rate
What is it?
The ILO (International Labour Organisation) Unemployment Rate released by the National Statistics is the number of unemployed workers divided by the total civilian labor force. It is a leading indicator for the UK Economy. If the rate is up, it indicates a lack of expansion within the U.K. labor market. As a result, a rise will weaken the U.K. economy.
What to expect:
Generally, a decrease of the figure is positive (or bullish) for the GBP, while an increase is negative.
05:00 AM ET
German ZEW Economic Sentiment
What is it?
The ZEW Economic Sentiment indicator is calculated from the results of the ZEW Financial Market Survey. This ZEW data is followed closely by economists as a precursor to the German ifo data, being released around the middle of the month for the current month.
What to expect:
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.
German ZEW Current Conditions
What is it?
This survey summarizes the net percentage of positive and negative responses regarding the expectations for economic growth in the next 6 months, as given by financial analysts from banks, insurance companies and large industrial enterprises. For example, if 50% believe that the economic situation will improve and 20% believe it will get worse, the result will be +30.
What to expect:
A reading that is stronger than forecast is generally supportive (bullish) for the Euro, while a weaker than forecast reading is generally negative (bearish) for the Euro.
Wednesday 13th September
02:00 AM ET
UK GDP
What is it?
Gross Domestic Product (GDP) measures the total value of a country’s industrial output over a given period. It consists of the aggregate domestic production of goods and services by individuals, businesses, and government. Quarterly publications provide a much more detailed picture of the economy than the monthly indicators, covering all of gross domestic product (GDP), sector accounts, business investment, balance of payments, consumer trends, and profitability of UK companies.
What to expect:
Low levels of growth are negative to most asset classes and are common to recessionary cycles. The Bank of England (BOE) places a great deal of emphasis on monthly and yearly GDP. Robust growth is often a prelude to monetary tightening, while stagnate levels provide an environment conducive to Quantitative Easing (QE). Currency, equities, and commodities markets all exhibit enhanced degrees of volatility surrounding the GDP release.
UK Manufacturing Production
What is it?
Manufacturing Production measures the change in the total inflation-adjusted value of output produced by manufacturers. Manufacturing accounts for approximately 80% of overall Industrial Production.
What to expect:
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.
