AWARDS

What is it? During these hearings the BOE Governor and several MPC members testify on inflation and the economic outlook before Parliament's Treasury Committee. The hearings are a few hours in length and can create market volatility for the duration. Especially noted are the direct comments made about the currency markets.

BOE MPC members vote on where to set the nation's key interest rates and their public engagements are often used to drop subtle clues regarding future monetary policy.

When? February 24^th at 5:00am Eastern Time

Trading Tip: If the announcement will hint towards higher interest rates, you can expect the GBP to rise.

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During today’s early trading session, Asian markets traded higher after the release of Japanese data showing a positive trade balance and increased exports. During the BoJ monthly report, officials indicated mild concerns over the future outlook of the economy and the weakening Yen, and in turn drove investors towards the stock market. The Nikkei share average reached a fresh 15 year high, and was up by 0.37% closing at 18,322. Asian markets are today closed due to the Chinese and Lunar New Year.

During the European session, the Euro continued to trade lower, and has reached its lowest level in ten days against the Dollar. This decline came as Germany released a number of negative economic reports.

During early US trade the Dollar Index is trading cautiously after policy makers on Wednesday stated on that rate hikes will be delayed till later in the year, furthermore, mixed US data released yesterday showed that the Philadelphia Federal Reserve Manufacturing Index was significantly lower than the expected figure of 9.3, on the other hand the number of individuals who filed for unemployment insurance for the first time during the past week dropped to 283,000. Following the release of data from Canada, the CAD dropped against a basket of major currencies. 

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What is it? It checks the change in the total value of sales at the retail level, excluding automobiles.

Automobile sales account for about 20% of Retail Sales, but they tend to be very volatile and distort the underlying trend. The Core data is therefore thought to be a better gauge of spending trends.

When? February 20^th at 8:30am Eastern Time.

Trading Tip: If the actual number is higher than the forecast, you can expect the CAD to rise.

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What is it? Eurogroup meetings are usually held in Brussels and attended by the Eurogroup President, Finance Ministers from euro area member states, the Commissioner for economic and monetary affairs, and the President of the European Central Bank. They discuss a range of financial issues, such as euro support mechanisms and government finances. The meetings are closed to the press but officials usually talk with reporters throughout the day, and a formal statement covering meeting objectives may be released after the meetings have concluded.

The Eurogroup coordinates economic policies of the 19 euro area member states, and their initiatives and decisions can have a widespread effect on the Eurozone's economic health.

When? February 20^th all day long.

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