Economic News 04 To 08 February
Economic News To Watch This Week
Australia Consumer Price Index 2019 Dates
What is Consumer Price Index?
Consumer Price Index (CPI) is the most watched economic indicator. It is calculated then released by the Bureau of Labor Statistics, which is part of the Department of Labor.
What does Consumer Price Index measure?
It measures the change in price of goods and services purchased by the consumers excluding investment items such as stocks, bonds, real estates and life insurances. In short, Consumer Price Index measures the cost of living.
Why do we (traders) care
Consumer Price Index accounts for the majority of overall inflation. Inflation is important to currency evaluation. If the stats are good, they are considered as good for Australian Dollar which is likely to strengthen as a result and weakens when the stats are less than expected. Below is the Consumer Price Index for Australia. The stats are released quarterly. The first one was on the 29th of January and there’s 3 more left for 2019. Below is the annual schedule for Australia Consumer Price Index (CPI)
Economic News 28 January To 01 February
Economic News To Watch This Week
FOMC 2019 Dates
What Is FOMC?
The Federal Open Market Committee (FOMC) is a committee within the Federal Reserve System (the Fed).Its mandate is to oversee the nation’s open market operations (i.e., the Fed’s buying and selling of United States Treasury securities). This Federal Reserve committee makes key decisions about Interest Rates and the growth of the United States money supply. You may also like to read this post about why do Central Banks hike or cut their Interest Rates Here.
The Federal Open Market Committee (FOMC) consists of twelve members, the seven members of the Board of Governors of the Federal Reserve System, the president of the Federal Reserve Bank of New York, and four of the remaining eleven Reserve Bank presidents who serve one year term. The Federal Reserve said their farewell to Janet Yellen who was the 15th Chairwoman of the Federal Reserve from the 3rd of February 2014 – the 3rd of February 2018. Her last meeting was on the 31st of January 2018. The newly appointed Fed Chair, Jerome Powell was sworn in on Monday the 5th of February and he hiked the Interest Rates in his March 2018 meeting and went on to hike 3 more times in 2018. President Donald Trump is not impressed with the pace at which the Fed Chair is hiking the Interest Rates.
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Economic News 21 To 25 January
Economic news to watch this week
European Central Bank Interest Rates 2019 Dates
About European Central Bank (ECB)
Bank Rate: 0.00%
President : Mario Draghi
Headquarters: Frankfurt , Germany
ECB’s President Mario Draghi started to serve as a President since November 2011 and previously served as the Governor of Bank of Italy from 2005 to 2011. He was also a Chairman of the Financial Stability Board from 2009 to 2011.
What is European Central Bank ECB?
ECB is the Central Bank for the EURO and it administers Monetary Policy of the Euro Zone, which consists of 19 E.U member states. European Central Bank (ECB) press conference is held 8 times a year about 45 minutes after the Interest Rates decision is announced. It is also called the Interest Rate Statement. The conference is about an hour long and has two parts. First part is when the actual statement is read and the second part is opened for questions which then lead to the market volatility.
What are the tasks and objections of European Central Bank?
The tasks are to maintain Monetary Policy for the Euro, including the banking supervision. Their main objective is to maintain the price stability and to safeguard the value of Euro.
Why is the European Central Bank statement important?
It is the leading indicator that provides the clues about the future Monetary Policy. High Volatility is often expected during the press conference and it has a direct impact on Euro pairs (I know for sure that my mentees and I are always looking forward to this one).
It’s been a while since ECB made some changes on their Interest Rates. The last time they changed was on March 2016 when they cut their Interest Rates from 0.05% down to 0.00%. Again on the 24th of January, they are expect to hold steady at 0.00%. The main focus is on what they are going to do next. Trading the Interest Rates is not only about the actual figures, but a lot more about the Central Bank’s next move on their Rates. We look out for either a hawkish or a dovish statement.
As promised, I will be publishing all significant economic news and provide their annual schedule for proper planning. Thank you for stopping by. Below is the European Central Bank’s annual schedule. Please kindly share this post.
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