Date
GMT+00:00
Event Value
Feb, 26 09:30
High Street Lending
High Street Lending
Country:
Date: Feb, 26 09:30
Importance: Low
Previous: 36.1K
Forecast: -
Actual: -
Period: Jan
Number of new mortgages approved for home purchase by High Street banks during the previous month. High Street banks make up around 65% of total UK mortgage lending. It's a leading indicator of housing market demand – most home purchases are financed with a mortgage, so it provides an excellent gauge of how many qualified buyers are entering the market.
36.1K
Feb, 26 14:00
★★★
ECB President Mario Draghi Speaks
ECB President Mario Draghi Speaks
Country:
Date: Feb, 26 14:00
Importance: High
Previous: -
Forecast: -
Actual: -
Period: -

Mario Draghi is an Italian banker and economist who succeeded Jean-Claude Trichet as President of the European Central Bank on 1 November 2011.

Feb, 26 15:00
★★
New Home Sales
New Home Sales
Country:
Date: Feb, 26 15:00
Importance: Medium
Previous: 625K; -9.3% m/m
Forecast: -
Actual: -
Period: Jan

Records sales of newly constructed residences in the United States. The figure is a timely gauge of housing market conditions counting home sales when initial housing contracts are signed. Because New Home Sales usually trigger a sequence of consumption, they have significant market impact upon release. In addition to the high expenditure of the new home, buyers are likely to spend more money on furnishing customizing and financing their home. Consequently, growth in the housing market spurs more consumption, generating demand for goods, services and the employees who provide them.

Generally, the housing market is tracked by a number of reports that mark different stages of the construction and home sale process. The first stage is Building Permits, which precede Housing Starts, which lead to Construction Spending, MBA Mortgage Applications and, finally, New Home Sales and Existing Home Sales. As the headline housing figure, New Home Sales are believed to control some of the volatility of other data. For instance, Building Permits and Housing Starts are considered more indicative of business confidence and production rather than consumer spending. And while Existing Home Sales figures are more indicative of consumer expenditures, they are lagging indicators with less predictive value. New Home Sales numbers are considered confirmatory of housing trends and still predictive of consumer spending.

New Home Sales is also a good indicator of economic turning points due to its sensitivity to consumer income. Buying a house is always a major expenditure, typically only undertaken when consumers have sufficient savings or are optimistic about future earnings. Historically, when economic conditions slow, New Home Sales are one of the first indicators to reflect the change. By the same token, New Home Sales undergo substantial growth when the economy has emerged from recession and wages have begun to pick up.

The report headline is the total amount of properties sold.

625K; -9.3% m/m
Feb, 26 21:45
★★
Trade Balance
Trade Balance
Country:
Date: Feb, 26 21:45
Importance: Medium
Previous: 640M; -2837M
Forecast: -
Actual: -
Period: Jan

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.

640M; -2837M
Feb, 27 05:00
BOJ Core CPI
BOJ Core CPI
Country:
Date: Feb, 27 05:00
Importance: Low
Previous: 0.7% y/y
Forecast: -
Actual: -
Period: Jan
Consumer prices account for a majority of overall inflation. Inflation is important to currency valuation because rising prices lead the central bank to raise interest rates out of respect for their inflation containment mandate.
0.7% y/y
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