Economic calendar

ECONOMIC CALENDAR

Date

GMT+00:00

Event

Value

Mar, 27 01:00

★★★

Official Cash Rate

Country:
Date:	Mar, 27 01:00
Importance:	High
Previous:	1.75%
Forecast:	1.75%
Actual:	-
Period:	Mar

The Official Cash Rate (OCR) is the interest rate set by the Reserve Bank to meet the inflation target specified in the Policy Targets Agreement (PTA). The current PTA, signed in September 2012, defines price stability as annual increases in the Consumers Price Index (CPI) of between 1 and 3 per cent on average over the medium term, with a focus on keeping future average inflation near the 2 percent target midpoint.

1.75%

Mar, 27 01:00

★★★

RBNZ Rate Statement

Country:
Date:	Mar, 27 01:00
Importance:	High
Previous:	-
Forecast:	-
Actual:	-
Period:	-

The Reserve Bank of New Zealand (RBNZ) releases this statement in connection to its recent decision on short-term interest rates. Interest rates are a primary determinant of a currency's value and these statements are used by traders to determine future monetary policy decisions.

Mar, 27 08:00

★★★

ECB President Mario Draghi Speaks

Country:
Date:	Mar, 27 08:00
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.

Mar, 28 20:00

★★★

RBNZ Governor Adrian Orr Speaks

Country:
Date:	Mar, 28 20:00
Importance:	High
Previous:	-
Forecast:	-
Actual:	-
Period:	-

Adrian Orr will be the Governor of the Reserve Bank of New Zealand from March 2018. The Reserve Bank uses monetary policy to maintain price stability as defined in the Policy Targets Agreement (PTA). The current PTA requires the Bank to keep inflation between 1 and 3 percent on average over the medium term. The Bank implements monetary policy by setting the Official Cash Rate (OCR), which is reviewed eight times a year.

Mar, 29 12:30

★★★

Gross Domestic Product

Country:
Date:	Mar, 29 12:30
Importance:	High
Previous:	-0.1% m/m; 1.1% y/y
Forecast:	0.1% m/m; 1.5% y/y
Actual:	-
Period:	Jan

A comprehensive measure of Canada's overall production and consumption of goods and services. GDP is a significant report in FX Market, serving as one of the primary indicators of a country's overall economic health.

Robust GDP growth signals a heightened level of economic activity and often a higher demand for the domestic currency. At the same time, economic expansion raises concerns about inflationary pressures which may prompt monetary authorities to increase interest rates. Thus positive GDP readings are generally bullish for the Canadian Dollar, while negative readings are generally bearish.

Most production reports that lead to Canadian GDP are released before the official GDP number. Therefore, actual GDP figures usually confirm expectations. However, an unexpected release can move markets due to the significance of the figure.

Technically, Gross Domestic Product is calculated in the following way:

GDP = C + I + G + (EX - IM)

where
C = private consumption
I = private investment
G = government expenditure
EX = exports of goods and services
IM = imports of goods and services

The headline figures for GDP are the percentage growth rate from the previous quarter and the annualized percentage change in GDP. Prices used are benchmarked to 1997 prices.

-0.1% m/m; 1.1% y/y