What is it? It's an excellent gauge of future construction activity because obtaining government approval is among the first steps in constructing a new building. Construction is important because it produces a wide-reaching ripple effect - for example, jobs are created for the construction workers, subcontractors and inspectors are hired, and various services are purchased by the builder.
When? At 09:30pm Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the AUD to rise.
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What is it? It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy. Survey of about 430 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories.
When? At 09:45m Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the CNY to rise.
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What is it? It's a leading indicator of economic health - businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company's view of the economy. Survey of 3000 purchasing managers which asks respondents to rate the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories.
When? At 09:00pm Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the CNY to rise.
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What is it? Financial confidence is a leading indicator of consumer spending, which accounts for a majority of overall economic activity. Survey of about 5,000 households which asks respondents to rate the relative level of current and future economic conditions including labor availability, business conditions, and overall economic situation.
When? At 10:00am Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the USD to rise.
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What is it? Canada is unique in that they release fresh GDP data on a monthly basis. A quarterly GDP figure is also released, however it's merely a summation of the monthly data. It's the broadest measure of economic activity and the primary gauge of the economy's health.
When? 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? The goods and services portion has no impact because it's a duplicate of the monthly Trade Balance data. It's directly linked to currency demand - a rising surplus indicates that foreigners are buying more of the domestic currency to execute transactions in the country.
When? At 4:30am Eastern Time.
Trading Tip: If the actual number is higher than the forecast, you can expect the GBP to rise.
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What is it? RBA Governor Sep 2006 - Sep 2016. Volatility is often experienced during his speeches as traders attempt to decipher interest rate clues. As head of the central bank, which controls short term interest rates, he has more influence over the nation's currency value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy.
When? At 4:40am Eastern Time.
Trading Tip: If the announcement will hint towards higher interest rates, you can expect the AUD to rise.
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Most U.S. stocks fell on Monday after Greek bailout talks collapsed, intensifying fears that the country could be the first to exit the euro zone.
Trading was heavy, with investors dropping riskier assets such as equities and commodities. The S&P 500 (SPX) fell nearly 1 percent and nine of the 10 main S&P sectors retreated. The only group to rise was utilities, considered a defensive play.
The European Central Bank froze funding to Greek banks, forcing Athens to shut banks for a week to keep them from collapsing.
Contracts to buy previously owned U.S. homes rose to their highest level in just over nine years in May, in a further boost to the housing market and the broader economic outlook.
The National Association of Realtors said on Monday its Pending Home Sales Index, based on contracts signed last month, increased 0.9 percent to 112.6, the highest level since April
The dollar pared gains against a basket of other major currencies on Monday, even after data showed that pending home sales in the U.S. rose to the highest level since 2006 in May, as concerns over the deadlock in Greek debt negotiations slightly eased.
The National Association of Realtors said its pending home sales index increased by 0.9% last month, compared to expectations for a gain of 1.2%.
Pending home sales in April rose by 2.7%, whose figure was revised down from a previously reported gain of 3.4%.
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Here are 4 tips for today's trading. This will help you decide where you should invest and what to look for:
Brace for heavy losses Monday as the escalating Greek crisis sees investors run for cover.
European markets plunged and U.S. stock futures were moving lower as shock developments pushed Greece closer to default.
1. Greek tragedy:
Greek banks will remain closed for a week and capital controls are in place as the country attempts to contain a deepening financial crisis.
The long-running debt saga hit a fresh low after Greece pulled its negotiators out of bailout talks late Friday. The government will put the rejected creditors' proposal to a referendum on July 5, in a high stakes vote that could see the country leave the euro. Ahead of the vote, Greece's financial system remains partially paralyzed - with banks closed and limits on withdrawals - after the European Central Bank said Sunday it wouldn't provide any new funding for Greek banks.
The country now appears almost certain to default on a critical debt payment due to the International Monetary Fund due Tuesday.
Government bond yields in Italy, Spain and Portugal spiked Monday, although they remain below where they were a year ago. Trading in Greek stocks and bonds was suspended in Athens.
2. China bear market:
Investor nerves were also frayed in Asia as Chinese stocks resumed their recent slide. The Shanghai Composite swung between massive gains and losses before closing down 3.3%, despite a decision by the central bank to cut interest rates to a record low.
3. Oil slides:
Pay attention to the crude market Monday. Prices were matching losses across global stock markets -- falling 2.2% to just above $58 a barrel -- in electronic trading. Gold was ticking higher, as some investors sought refuge in the traditional safe-haven market.
4. Economic updates:
It's a light day for economic news. The National Association of Realtors will report pending home sales for the month of May at 10 a.m. ET. The index aims to predict activity in the housing market, and April numbers showed new homes being bought at the highest rates since May 2006.
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What is it? This data is released about a week later than Existing Home Sales, but it's more forward-looking as a contract is signed several weeks before the home is counted as sold. It's a leading indicator of economic health because the sale of a home triggers a wide-reaching ripple effect. For example, renovations are done by the new owners, a mortgage is sold by the financing bank, and brokers are paid to execute the transaction.
When? At 10:00am Eastern time.
Trading Tip: If the actual number is higher than the forecast, you can expect the USD to rise.
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What is it? Labor Cash Earnings, Total Cash Earnings. Income is correlated with spending - the more disposable income consumers have, the more likely they are to increase spending.
When? At 09:30am Eastern time.
Trading Tip: If the actual number is higher than the forecast, you can expect the JPY to rise.
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What is it? It's a leading indicator of economic health - businesses react quickly to market conditions, and changes in their sentiment can be an early signal of future economic activity such as spending, hiring, and investment. A Survey of about 1,500 businesses which asks respondents to rate the relative 12-month economic outlook.
When? At 09:00am Eastern time.
Trading Tip: If the actual number is higher than the forecast, you can expect the NZD to rise.
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U.S. stocks were mixed at the open on Friday ahead of a EuroGroup meeting about extending Greece's bailout program.
The Dow Jones industrial average (DJI) rose 58.02 points, or 0.32 percent, to 17,948.38, the S&P 500 (SPX) gained 1.9 points, or 0.09 percent, to 2,104.21 and the Nasdaq Composite (IXIC) dropped 4.17 points, or 0.08 percent, to 5,108.02.
The dollar held steadt against a basket of other major currencies on Friday, as investors eyed the release of U.S. consumer sentiment data later in the day and continued to focus on Greek debt talks.
The dollar found support after data on Thursday showed that U.S. personal spending rose by 0.9% in May, above expectations for a gain of 0.7%.
Crude oil futures fell to one-week lows on Friday, as the U.S. dollar remained supported by the previous session's upbeat U.S. data and amid growing concerns over the outcome of Greek debt negotiations.
The U.S. dollar rose against its Canadian counterpart on Friday, as Thursday's upbeat U.S. data continued to support the greenback and investors continued to focus on Greek debt talks.
USD/CAD hit 1.2397 during early U.S. trade, the session high; the pair subsequently consolidated at 1.2380, gaining 0.46%.
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What is it? Due to meet about a range of global economic issues, including migration policy, defense, and the United Kingdom's call to renegotiate its membership terms with the EU, in Brussels.
When? All day
Trading Tip: This announcement can greatly affect the EUR so make sure to follow it!
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