In the week ahead, traders around the world will focus on the outcome of the monetary policy meeting of the Federal Open Markets Committee (FOMC). This meeting is likely to shed light on the Fed's outlook on the economy, monetary policy and interest rates that could serve as the catalysts driving the future direction for equities, currencies and commodities.
Here are the most important economic events that every currency trader should pay attention to during the week ahead (Note: All times are Eastern, and remember to change your clocks ahead one hour on Saturday night if you live anywhere in the United States that observes the switch to Daylight Saving Time):
Sunday, March 14 will start with the first spotlight event of the week, the Bank of England Quarterly Bulletin on inflation and economic conditions, scheduled at 7:00 p.m., along with the U.K. Rightmove House Price Index, a housing market indicator measuring changes in home prices.
Monday, March 15 will begin with the Japanese Household Confidence, a gauge of consumer sentiment, at 12:00 a.m.
The Swiss PPI (Producers Price Index), the main measure of wholesale inflation experienced by manufacturers and a leading indicator of consumer inflation. This announcement will come at 3:15 a.m., followed by the Euro-zone Employment Change, a gauge of labor market conditions and trends, at 5:00 a.m.
The U.S. economic data will start with the Empire State Manufacturing Survey of manufacturing conditions in New York State, at 8:30 a.m.
One of the main spotlight events of the week, the U.S. Industrial Production, the main gauge of industrial activity measuring the output of factories, mines and utilities, will be released at 9:15 a.m.
The U.S. reports will continue with the TIC (Treasury International Capital), a measure of the attractiveness of the U.S. Dollar, tracking the flows of financial instruments into and out of the United States, at 9:00 a.m. This will be followed by the U.S. Housing Market Index of housing market conditions based on a combination of current new home sales and expected new home sales for the next six months, as well as traffic of prospective buyers of new homes, at 1:00 p.m.
The day will end with a notable report, the Reserve Bank of Australia's Meeting Minutes from the last monetary policy meeting, which may provide an outlook on the economy and the bank's future monetary policy, at 7:30 p.m.
Tuesday, March 16 will start with the Swiss State Secretariat for Economic Affairs Economic Forecasts scheduled at 1:45 a.m.
The French CPI (Consumer Price Index), the main measure of inflation in the Euro-zone's second-largest economy, will be released at 2:45 a.m., followed by the U.K. Department for Communities and Local Government House Price Index of changes in home prices, at 4:30 a.m.
News from the Euro-zone will bring a spotlight event, the German and the Euro-zone ZEW Institute Economic Sentiment, a survey on the economic outlook and sentiment of institutional investors, at 5:00 a.m., along with the Euro-zone HICP (Harmonized Index of Consumer Prices), the main measure of inflation in the Euro-zone and the European equivalent to the CPI (Consumer Price Index).
The U.S. economic reports will begin with a spotlight event, the U.S. Housing Starts and Building Permits, two leading indicators of housing market conditions measuring new residential construction, at 8:30 a.m.
The sequence of spotlight events will continue with the most important event of the week, the U.S. FOMC- Federal Open Markets Committee Interest Rate Announcement, scheduled at 2:15 p.m.
The day will conclude with the Australian Housing Starts, a leading indicator of housing market conditions, at 7:30 p.m., and the Japanese Tertiary Index of activity in the service industries: utilities, transport and telecommunications, wholesale and retail, finance and insurance, real estate and services, at 7:50 p.m.
Wednesday, March 17 will begin with a spotlight event, the Bank of Japan Interest Rate Announcement, expected around 12:00 a.m.
The U.K. economic reports will bring another spotlight event with the release of the Bank of England Monetary Policy Committee Meeting Minutes, which could provide an outlook on the economy, inflation and the bank's future monetary policy, at 4:30 a.m. Another report due out at the same time is the U.K. Unemployment Rate, Unemployment Claims and Average Earnings, important gauges of labor market conditions.
The U.S. economic data will start with a spotlight event, the U.S. PPI (Producers Price Index), the main measure of wholesale inflation experienced by manufacturers and a leading indicator of consumer inflation, at 8:30 a.m., followed by the EIA (Energy Information Administration) Weekly Oil Inventories, at 10:30 a.m.
The day will end with the Australian Leading Indicators of economic activity at 7:30 p.m., and the Japanese Manufacturing Index, the Bank of Japan's leading indicator of industrial activity, at 7:50 p.m.
Thursday, March 18 will start with Bank of Japan's Monthly Report on inflation and economic conditions, at 12:00 a.m.
The Swiss Trade Balance of the difference between imports and exports will come at 2:15 a.m., followed by the Swiss Industrial Production, the main gauge of industrial activity measuring the output of factories, mines and utilities, at 3:15 a.m.
The Euro-zone Current Account of goods, services and transfer of payments into and out of the region, will hit the newswires at 4:00 a.m. This will be followed by two reports: U.K. Public Sector Net Borrowing, a measure of credit debt and spending by public corporations, and the preliminary estimate of the U.K. M4 Money Supply, both at 4:30 a.m.
More notable European data will include the Euro-zone Trade Balance of the difference between imports and exports, at 5:00 a.m., the Swiss ZEW Institute Economic Expectations Index of investor sentiment, also at 5:00 a.m., and the U.K. Confederation of British Industry Industrial Trends Survey of manufacturing conditions, at 6:00 a.m.
News from Canada will bring a gauge of the Canadian Dollar's attractiveness to foreign investors-the Canadian Foreign Securities Purchases, a measure of foreign investments in Canada, at 8:30 a.m.
The U.S economic reports will begin with one of the major spotlight events of the week: the U.S. CPI (Consumer Price Index), the main measure of inflation in the world's largest economy, at 8:30 a.m. At the same time, the weekly U.S. Jobless Claims, an important gauge of labor market conditions measuring new unemployment claims, will be released along with the U.S. Current Account of goods, services and transfer of payments into and out of the country.
The U.S. data will continue with the Philadelphia Fed Survey of manufacturing conditions within the Philadelphia Federal Reserve district, at 10:00 a.m., the U.S. Leading Indicators of economic activity, also at 10:00 a.m., and the EIA (Energy Information Administration) Weekly Natural Gas Inventories, at 10:30 a.m.
The day will end with the Japanese All Industries Index of economic activity in all sectors of the Japanese economy, at 11:30 p.m.
Friday, March 19 will begin with the German PPI (Producers Price Index), the main measure of wholesale inflation experienced by manufacturers in the Euro-zone's largest economy, at 2:00 a.m.
The Canadian economic data will bring a spotlight event with the release of the Canadian CPI (Consumer Price Index), the main measure of inflation, at 7:00 a.m.
The trading week will end with a notable report: the Canadian Retail Sales, an important gauge of consumer spending, measuring the total sales at retail establishments, scheduled at 8:30 a.m.
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