Broad gauge of inflationary pressures. The GDP Deflator is different from the Consumer Price Index in that it does not take into account changes in the prices of imports and tends to underestimate price changes. The Gross Domestic Product Deflator is also untimely, released quarterly about two months after the reporting period. Nonetheless, it is highly correlated with the CPI and a key indicator of inflation. Consequently, the deflator provides insight into the future direction of monetary policy as the Bank of Japan is inclined to raise interest rates when faced with higher inflation.

Specifically the deflator measures the magnitude of changes in prices for all domestically produced final goods. It is the ratio of output in current prices (nominal GDP) to inflation-adjusted output (real GDP). The headline value is the percentage change in the GDP Deflator from the previous quarter.

The Rightmove index is based upon sellers' asking prices as posted on the Rightmove website. Actual figures are not available nor are they verified by a third party. However, Rightmove claims that about 90 percent of all properties on sale are advertised on its website although this would seem to be an overestimate. It would appear that only properties which are new on the market in any given month are used in the calculation thereby ignoring price changes of properties already on the market. Rightmove claims to use the mix-adjustment standardisation method although little information is available on how this is applied. The Rightmove index does not adjust the data to seasonal changes.Because of the way it uses asking price data, the Rightmove index could be the first to track changes in the property market. However, since the data is not very reliable, the index is not useful as an early trend indicator as monthly changes are too erratic.

Tracks automobile sales in Australia . Though motor vehicle sales are a small component of the overall economy, expenditures of such "big-ticket" items give good insight into consumer's spending ability. Additionally, the figure gauges consumer confidence; consumers and businesses are only likely to make the outlays needed for motor vehicles if they are optimistic about their current and future economic well being.

The figure is reported both as number of new automobile sales and as monthly percentage change.

The value of new contracts for goods produced by the manufacturing sector. A rising level of Industrial New Orders forecasts increased production and a rising GDP. There are two headline numbers released for this report, month to month and annualized change.

The Current Account summarizes the flow of goods, services, income and transfer payments into and out of the country. The report acts as a line-item record of how the domestic economy interacts with rest of the world. The Current Account is one of the three components that make up a country's Balance of Payments (Financial Account, Capital Account and Current Account), the detailed accounting of all international interactions. Where the other side of the Balance of Payments, Capital and Financial Accounts deal mainly with financial assets and investments, the Current Account gives a detailed breakdown of how the country intermingles with rest of the global economy on a non-investment basis - tracking good and services.

The Current Account summarizes the flow of goods, services, income and transfer payments into and out of the country. The report acts as a line-item record of how the domestic economy interacts with rest of the world. The Current Account is one of the three components that make up a country's Balance of Payments (Financial Account, Capital Account and Current Account), the detailed accounting of all international interactions. Where the other side of the Balance of Payments, Capital and Financial Accounts deal mainly with financial assets and investments, the Current Account gives a detailed breakdown of how the country intermingles with rest of the global economy on a non-investment basis - tracking goods and services.

The data reveales the value of debts at risk of not being repaid.

CPI assesses changes in the cost of living by measuring changes consumer pay for a set of items. CPI serves as the headline figure for inflation. Simply put, inflation reflects a decline in the purchasing power of the dollar, where each dollar buys fewer goods and services. In terms of measuring inflation, CPI is the most obvious way to quantify changes in purchasing power. The report tracks changes in the price of a basket of goods and services that a typical American household might purchase. An increase in the Consumer Price Index indicates that it takes more dollars to purchase the same set basket of basic consumer items.

Inflation is generally bad news for the economy, causing instability, uncertainty and hardship. To address inflation, the Fed may raise interest rates. However, the Fed relies on the PCE Deflator as its primary gauge of inflation because the CPI does not account for the ability of consumer to substitute out of CPI's set. Price changes tend to cause consumers to switch from buying one good to a less expensive-other, a tendency that the fixed-basket CPI figure does not yet account for. Given that the PCE Deflator is a more comprehensive calculation, based on changes in consumption; it is the figure the Fed prefers.

The figure is released monthly, as either a month over month annualized percentage change, or percentage change for the full year. The figure is seasonally adjusted to account seasonal consumption patterns.Inflation is generally bad news for the economy, causing instability, uncertainty and hardship. To address inflation, the Fed may raise interest rates. However, the Fed relies on the PCE Deflator as its primary gauge of inflation because the CPI does not account for the ability of consumer to substitute out of CPI's set. Price changes tend to cause consumers to switch from buying one good to a less expensive-other, a tendency that the fixed-basket CPI figure does not yet account for. Given that the PCE Deflator is a more comprehensive calculation, based on changes in consumption; it is the figure the Fed prefers.

The figure is released monthly, as either a month over month annualized percentage change, or percentage change for the full year. The figure is seasonally adjusted to account seasonal consumption patterns.

Retail Price Index measures changes in the prices of goods and services bought for household consumption in the UK. The RPI takes a large sample of retail goods including food, tobacco, household goods and services, transport fares, motoring costs, clothing, and leisure goods and services. An increase in the index means that prices have increased on average (inflation) while a decrease means that prices on the whole have fallen (deflation). The headline figure is the percentage change in the index from the previous quarter and previous year. RPI data is also used for indexation of state benefits and pensions.

A monthly survey that measures change in input prices as incurred by UK manufacturers. Input prices include the cost of materials used plus operation costs of running the business. The index can be used as a measure of inflation, given that higher input costs will likely be passed on from producers to consumers in the form of higher retail prices.

The headline is the percentage change in the Producer Price Index (Input) from the previous quarter and previous year.

A monthly survey that measures the price changes of goods produced by UK manufacturers. The figure is also known as "Factory Gate Price" because it usually matches the price of goods when they first leave the factory. Increased prices in manufacturing typically lead to higher retail prices for consumers. However, it is also likely that higher output prices are caused by manufacturers charging a higher premium due to higher demand for their goods. Consequently, market trends in consumption should be considered with Output PPI to avoid data misinterpretation.

Core Output PPI excludes volatile items such as food and energy. The Core PPI is generally a better measure of inflation because it excludes those items whose short-term price fluctuations can distort inflationary data.

The headline is the percentage change in the Producer Price Index (Output) from the previous quarter and previous year.

A German Firm, the Center for European Economic Research (ZEW), queries financial experts throughout Europe every month in order to make a medium-term forecast about Germany 's economic situation. They ask experts to evaluate the current situation and to predict the future direction of the economy. For all components of the survey, responses are restricted to positive, negative, or unchanged. This simple structure allows the survey to be quick and efficient in terms of turnaround time, as well as easy to understand and interpret.

Unlike the Economic Sentiment Indicator which looks into the future direction of the economy, the Current Situation Indicator focuses on the results of the survey that relate to the current health of the German economy. Expert opinions on whether the current situation is improved, worsened, or unchanged are summarized as the number of positive responses minus the number of negative responses. A higher headline figure indicates a stronger economy and better business climate.

Technical Note on Headline Number : The results of the survey are always presented as the difference between those experts that optimistic and those are pessimistic. For instance if 25 percent of analysts expect improvement, 35 percent expect decline, and 40 percent expect no change, the headline figure is -10.

The Center for European Economic Research (ZEW), queries financial experts throughout Europe every month in order to make a medium-term forecast about the economic situation. Eurozone ZEW Indicator of Economic Sentiment Assesses future economic expectations for the whole Eurozone. The results are summarized as the number of positive responses minus the number of negative responses. A higher headline figure indicates a positive expectation for Euro-zone economy.

Technical Note on Headline Number : The results of the survey are always presented as the difference between those experts that optimistic and those are pessimistic. For instance if 25 percent of analysts expect improvement, 35 percent expect decline, and 40 percent expect no change, the headline figure is -10.

A monthly survey of manufacturers in New York State conducted by the Federal Reserve Bank of New York.

Summarizes the flow of stocks, bonds, and money market funds to and from Canada.

The U.S. TIC Long-Term Purchases release measures the level of foreign and domestic investment in the US. This important indicator is released monthly, and if the reading exceeds the market forecast, this bodes well for the US dollar.

Summarizes the flow of stocks, bonds, and money market funds to and from the United States . The headline figure is the difference in value between American purchases of foreign securities and foreign purchases of American securities, expressed in millions of dollars. The Treasury International Capital or TIC statement is a major component of the American capital account and gives valuable insight into foreign demand for American investments and dollar.

A positive figure indicates that more capital is entering the US than leaving as sales of American securities to foreigners exceed American purchases of foreign securities. Such positive figures suggest that American security markets are competitive with those of other countries. Foreign security purchases are especially important in the case of a trade deficit, as a positive figure can offset the depreciating effect of a trade shortfall. On the contrary, a negative or declining TICS figure reflects a declining capital flow picture. Outflows are indicative of weaker demand for US assets which puts downward pressure on the value of the dollar.

A timely gauge of home sales and expectations for future home building. Based on a small sample of homebuilders, the Housing Market Index is a timely indicator of future US home sales. However, as the index is not as comprehensive as formal housing reports like new home sales or MBA mortgage applications, the index acts more like a supplemental indicator for predicting housing trends.

As such, the NAHB Housing Market Index is still able to provide general insight to where the housing market is heading. Given that new home sales reflect 'big ticket' items that require construction and investment, the housing market is often viewed as an indicator of the direction of the economy as a whole. Growth in the housing market will spur subsequent spending, generating demand for goods and services and the employees who provide them.

The report headline is expressed in percentage change from the previous month. The NAHB Housing Market Index divides the Single-Family Sales data into three categories: Present, Next 6 Months and Prospective Buyers Traffic.

The Index includes account inventory ratios, machinery orders, stock prices and other leading economic indicators. As the aggregate of many leading indices the Leading Economic Index provides a forecast of the future state of the domestic economy and is thought to predict activity that will occur 6-9 months after the reporting period.

The index operates on a 1-100 scale, where a value lower than 50 means that most indictors are negative and a value higher than 50 means most indicators are positive. In both cases a greater distance from the midpoint (50) means that the indicators are more strongly positive or negative.

Measures quarterly changes in Australian wages. Two versions of the Labor Price Index exist: one which includes bonuses, and one which excludes them. The Labor Price Index is similar to the US Employment Cost Index, an early indicator of wages pressure on inflation. An increase in the index suggests rising inflation pressures because firms tend to eventually pass higher labor costs onto consumers in the form of higher prices.

The headline figure is the quarterly percentage change in the Labor Price Index.

Technical note: The index is constructed by combining 8 separate indexes. The 4 wage price indices are:
• ordinary time hourly rates of pay excluding bonuses index
• ordinary time hourly rates of pay including bonuses index
• total hourly rates of pay excluding bonuses index
• total hourly rates of pay including bonuses index

The 4 non-wage price indices are:
• annual and public holiday leave
• superannuation
• payroll tax
• workers' compensation

Evaluates the monthly change in overall production by all sectors of the Japanese economy. The index comprises a variety of industries: service, manufacturing, construction and public sectors are included. The index closely follows Japanese GDP and overall growth figures, providing insight into current levels of Japanese economic expansion. The All Industry Activity Index is posted monthly as a percentage change from the previous month's figure.

Every month the Bank of Japan releases their report covering trends in the Japanese economy and relevant international developments. The report summarizes recent economic indicators and gives the Bank's official position on Japanese economic growth. Because the BOJ sets monetary policy, any insight into the conclusions and assumptions the Bank is operating under can be helpful in predicting future interest rate actions. Markets tend to focus on the key points of the report and how they may lead to future interest rate changes. For example if the report cites worries over deflation and suggests that lackluster demand has stymied growth, market participants will be more inclined to monitor leading inflation and consumption indicators in order to gauge the likelihood of rate increases in the future. Additionally, markets focus on how the language in the report might suggest future interest rate changes. If the Bank of Japan is cautious in its tone about the inflationary outlook for the economy (characterized as ""Hawkish""), then the market sees a higher likelihood of future rate increases. If the Bank is optimistic (""Dovish"") or concerned with deflation, it suggests that future rate increases are less likely.

Tracks the number of the employed in the country. A surge in new employment suggests higher spending potential and budding inflation pressures.

The Average Earnings Index (AEI) is a National Statistics indicator of inflationary pressures emanating from the labour market.

The ZEW-CS Indicator is calculated monthly by the Centre for European Economic Research (ZEW) in cooperation with Credit Suisse (CS). The indicator reflects the expectations of the surveyed financial market experts regarding the economic development in Switzerland on a six-month time horizon.

Core PPI, Excluding Food and Energy

The PPI is also reported without the volatile food and energy components. In addition to being seasonally volatile, the two comprise a significant portion of US goods. As a result, any sudden disruption in oil or food supplies will significantly distort the Producer Price Index inflation assessment. By excluding such entities, Core PPI is able to provide a truer, more consistent picture of US inflation trends.

The value of sales made by Canadian wholesalers. Wholesalers sell to industries and retailers in quantities far larger than most consumers are willing to purchase. Given that growth in Wholesale Trade usually precedes increases in retail trade and consumption, changes in Wholesale Sales can be used as an early indicator for the overall direction of the retail sector, consumption and the economy. The headline figure reports the monthly percentage change in Wholesale Sales, seasonally adjusted to account for variations in demand due to seasonal cycles.

These sectors are farm products, food, beverages, and tobacco products, personal and household goods, automotive products, building materials, machinery and electronic equipment etc.

The actual inventories of crude oil, gasoline, and distillate, such as jet fuel, as reported on a weekly basis. The numbers are watched closely by the energy markets, and if the results differ greatly from the expected inventory levels, the market can react strongly. The inventory data can be skewed by holidays and seasonal factors. Weekly data can be unreliable and should be viewed as a part of longer-term trends, so a four-week moving average may be more useful.

A monthly survey that measures change in input prices as incurred by New Zealand manufacturers. Input prices include the cost of materials used plus operation costs of running the business. The index can be used as a measure of inflation, given that higher input costs will likely be passed on from producers to consumers in the form of higher retail prices.

The headline is the percentage change in the Producer Price Index (Input) from the previous quarter and previous year.

A monthly survey that measures the price changes of goods produced by manufacturers. The figure is also known as "Factory Gate Price" because it usually matches the price of goods when they first leave the factory. Increased prices in manufacturing typically lead to higher retail prices for consumers. However, it is also likely that higher output prices are caused by manufacturers charging a higher premium due to higher demand for their goods. Consequently, market trends in consumption should be considered with Output PPI to avoid data misinterpretation.

The Merchandise Trade Balance is a measure of "visible" trade, which is trade in goods like cars and electronics. Specifically it is the difference between Japan 's imports of goods and exports of goods, excluding services. A positive value indicates a trade surplus (exports exceed imports) while a negative value indicates a trade deficit (imports exceed exports). Movements in the Merchandise Trade Balance reflect altered demand for Japanese Yen, which can move the value of the currency. Positive growth in the trade balance may lead to a future appreciation of the Yen due to steady demand in exchange for Japanese exports.

A measure of "visible" trade, which is trade in goods like cars and electronics with adjustments.

Reflects changes in the volume of exported goods in relation to the previous year. Higher headline figures bode well for exporters.

Reflects changes in the volume of imported goods in comparison to the previous year. Increase in the figures has negative impact on the trade balance, but yet might be suggestive of more vivid business and consumer activity.

Measures changes in the selling prices producers charge for goods and services, and well as tracks how prices feed through the production process. Because producers tend to pass on higher costs to consumers as higher retail prices, the PPI is valuable as an early indicator of inflation. Simply put, inflation reflects a decline in the purchasing power of the Dollar, where each dollar buys fewer goods and services. The report also gives insight into how higher prices from raw materials flow toward the final product.

A rise in PPI signals an increase in inflationary pressures. Given the economic instability associated with rising price levels, the Fed often will raise interest rates to check inflation. A low or falling PPI is indicative of declining prices, and may suggest an economic slowdown.

The headline figure is expressed in percentage change of producer price.

Notes: The PPI records prices at various stages of production: raw goods, intermediate goods and finished goods. Though intermediate and crude goods prices do provide insight for future inflationary pressure, it is the price of finished goods that generates most interest for market participants. The finished goods data is able to gauge price pressure before the goods reach the retail market.

A country's trade balance reflects the difference between exports and imports of goods and services. The trade balance is one of the biggest components of the Balance of Payment, giving valuable insight into pressures on country's currency.

Surpluses and Deficits
A positive Trade Balance (surplus) indicates that exports are greater than imports. When imports exceed exports, the country experiences a trade deficit. Because foreign goods are usually purchased using foreign currency, trade deficits usually reflect currency leaking out of the country. Such currency outflows may lead to a natural depreciation unless countered by comparable capital inflows (inflows in the form of investments, FDI - where foreigners investing in local equity, bond or real estates markets). At a bare minimum, deficits fundamentally weigh down the value of the currency.

Ramifications of Trade Balance on Markets
There are a number of factors that work to diminish the market impact of Trade Balance upon immediate release. The report is not very timely, coming some time after the reporting period. Developments in many of the figure's components are also typically anticipated well beforehand. Lastly, since the report reflects data for a specific reporting month or quarter, any significant changes in the Trade Balance should plausibly have already been felt during that period - and not during the release of data.

However, because of the overall significance of Trade Balance data in forecasting trends in the Forex Market, the release has historically been one of the most important reports out of the any country.

The volume of imports per month. The indicator reflects domestic demand and may signal growing energy prices.

The volume of exports per month. An increase in the indicator suggests higher demand for the national products abroad and goods for everyday use. A growing indicator bodes well for the national currency.

Assesses changes in the cost of living by measuring changes in the prices of consumer items. The CPI is the headline inflation figure that indicates the strength of domestic inflationary pressures. Simply put, inflation reflects a decline in the purchasing power of the Euro in France , where each Euro buys fewer goods and services. CPI is the most popular way to measure changes in purchasing power. The report tracks changes in the price of a basket of goods and services that a typical French household might purchase. An increase in the index indicates that it takes more Euros to purchase the same set of basic consumer items.

Gauge for the overall performance of the country's service sector. The Services PMI interviews executives on the status of sales, employment, and their outlook. Because the performance of the country's service sector is extremely consistent over time, services does not impact final GDP figures as much as the more volatile figure on the manufacturing sector. For this reason Services PMI usually causes little market movement. The survey results are quantified and presented as an index on a 1-100 scale. The headline figure is the percentage change in the index.

Gauge for the overall performance of the German service sector. The Services PMI interviews German executives on the status of sales, employment, and their outlook. Because the performance of the German service sector is extremely consistent over time, services does not impact final GDP figures as much as the more volatile figure on the manufacturing sector. For this reason Services PMI usually causes little market movement. The survey results are quantified and presented as an index on a 1-100 scale. The headline figure is the percentage change in the index.

The Eurozone Manufacturing Purchasing Managers Index (PMI) assesses business conditions in the manufacturing sector. Because the manufacturing sector represents nearly a quarter of total Eurozone GDP, the Eurozone Manufacturing PMI is a significant and timely indicator of both business conditions and the general health of the economy. Results are quantified in an index in which values above 50 indicate an expected increase of business conditions and values below 50 signal an expected deterioration.

The Eurozone Services Purchasing Managers Index (PMI) assesses business conditions in the services sector. The figure is based on monthly surveys of executives in Germany, France, Ireland, Italy and Spain. Combined, these countries account for roughly four fifths of total service sector activity in the Eurozone. Since services account for two thirds of total Eurozone GDP, the Services PMI is a significant and timely indicator for the health of the economy. Higher Service PMI levels suggest upward future trends in output and performance of the industry. The headline figure is reported as an index where 50 reflects the centerline of boom-bust sentiment. A larger divergence from 50 indicates a larger rate of change in business conditions.

The Eurozone Composite Purchasing Managers Index (PMI) assesses business conditions in manufacturing, construction and service sectors. The Eurozone PMI is both a significant and timely indicator of business conditions and the general health of the economy. Close correlation with the business cycle, assessed on the basis of long-term statistical data, allows to use the PMI indicator for prognosis of future GDP volumes. The PMI indices are based on  selected panels of executives in companies who report each month on real events. The subindex of intangibles sector - PMI services - is of more importance because in industrialized countries around 70% of GDP is generated in non-manufacturing sector.

This index characterizes the volume of new orders in the industrial sector. The growth of industrial orders is a sign that the economy expands. Increase in orders leads to higher employment in the industry.
Increase in orders will lead to further growth in manufacturing, and hence lead to growth of the national currency and domestic stock market. In the bond market, this leads to an increase in profitability of government securities. The index is certainly important for the market. Sometimes a strong deviation from the forecast values of the index can cause a strong change of the pound sterling rate. Certainly, the indicator is not able to deploy the prevailing trend.

Continuing claims refers to unemployed workers that qualify for benefits under unemployment insurance. In order to be included in continuing claims, the person must have been covered by unemployment insurance and be currently receiving benefits. Data on unemployment claims is published by the Department of Labor on a weekly basis, allowing for frequent updates on the levels of unemployment.

A monthly gauge of manufacturing activity and future outlook. The CIPS PMI is comparable to the US ISM survey, similarly based on the opinions of executives in manufacturing companies. Purchasing managers are tasked with gauging future demand, and adjusting orders for materials accordingly. The PMI summarizes the opinions of these executives to give a picture of the future of the manufacturing sector. A higher PMI indicates that materials purchases are increasing and that the economic outlook is positive. Alternately, a lower PMI means orders for materials are down and the future outlook is less favorable. By nature, the figure is very sensitive to the business cycle and tends to match growth or decline in the economy as a whole.

The PMI is presented as an index with a value between 1-100.

Consumer confidence is a measure of popular sentiment concerning the Eurozone economy. The figure is derived from a survey that asks thousands of consumers about personal expenditure patterns and inflationary expectations. In general, rising consumer confidence precedes increased consumer spending, which drives both economic growth and inflation. Even though t he Italian economy is heavily driven by its export sector, domestic consumer confidence is an important gauge of overall economic activity and future inflationary pressures.

A headline figure above 50 shows positive consumer sentiment, while a number below 50 shows negative consumer sentiment; the greater the distance, the stronger the sentiment.

A home loan for which the borrower has failed to make payments as required in the loan documents. If the borrower can't bring the payments on a delinquent mortgage current within a certain time period, the lender may begin foreclosure proceedings. A lender may also offer a borrower a number of options to help prevent foreclosure when a mortgage becomes delinquent.

The actual inventories of crude oil, gasoline, and distillate, such as jet fuel, as reported on a weekly basis. The numbers are watched closely by the energy markets, and if the results differ greatly from the expected inventory levels, the market can react strongly. The inventory data can be skewed by holidays and seasonal factors. Weekly data can be unreliable and should be viewed as a part of longer-term trends, so a four-week moving average may be more useful.

The Bank of Japan publishes the summary from its monthly monetary policy meetings some time after the actual meeting. These meetings are held to review economic developments inside and outside of Japan and decide the central bank's monetary policy. The minutes usually come out late, at least a month after the meeting, but give detailed insight into the Bank of Japan's monetary policy decision making process.

Markets tend to focus on the key points discussed during the meeting that might suggest future interest rate changes. If the Bank of Japan is cautious about the inflationary outlook for the economy (characterized as ""Hawkish""), then the market sees a higher likelihood of future rate increases. If the Bank is optimistic (""Dovish"") it suggests to markets that inflation is in check and that future rate increases are less likely.

Markets will discount some information in the report because of the lag in the release of the notes. The focus will often be on what the Bank deems as key points that could suggest future interest rate changes. For example if the minutes state that high energy costs and a rapidly expanding housing market are fueling inflation, then markets participants will tend to monitor these key sectors closely in order to gauge the likelihood of a rate increases in the future.

A monthly measurement of all goods sold by retailers based on a sampling of retail stores of different types and sizes. The retail sales index is often taken as an indicator of consumer confidence.

The amount of new debt held by the UK governments. In the long run, the public sector account must be in balance in order for the economy to be sustainable. If the UK spends more than what it earns, it must finance this budget deficit with an increase in Net Borrowing. Because budget deficits are generally unfavorable for the economy, growth in Net Borrowing is considered bearish for the Pound. Likewise, if Net Borrowing is negative, it means the UK is running a budget surplus and, rather than borrowing money, is a net lender. The headline number is the net borrowing for the previous month in billions of Pounds.

Public sector net borrowing excluding the temporary effects of the financial interventions

Collection of taxes from those who benefit from the provision of public goods by the government, and the use of those tax funds toward production and distribution of the public goods.