The Federal Open Market Committee (FOMC) Meeting Minutes are a detailed record of the committee's interest rate meeting held about two weeks earlier. The minutes expose the votes cast at the meeting and can give traders further insight into the central bank's stance on monetary policy. Traders carefully comb the minutes for clues regarding future interest rate shifts.

Bank of Canada (BOC) Governor David Dodge will deliver a speech titled \"Turbulence in credit markets: Causes, effects, and lessons to be learned\" at the Vancouver Board of Trade, in Vancouver. As head of the central bank\'s governing body, which is responsible for setting the nation\'s short term interest rate, his speeches can sometimes cause market volatility as traders react to clues regarding future monetary policy.

Measures the mood of consumers in regard to economic conditions. The reading is derived from a monthly survey that asks respondents to evaluate the prospects for the economy in the future. Higher readings point to higher consumer optimism. When consumers are optimistic they tend to purchase more goods and services, which stimulates the economy.

Measures the annualized number of new residential buildings that were sold during the previous month. A rising trend has a positive effect on the nation\'s currency because the housing market is a leading gauge for the overall economy. A high level of housing activity signals that the construction industry is healthy and that consumers have the capital to make large investments. More importantly, new housing activity creates an economic ripple effect as home owners buy goods such as appliances and furniture for their homes, and builders buy raw materials and hire more workers to meet demand.

Measures the general business conditions of manufacturers in the Richmond Federal Reserve district. The index is derived from a survey that asks respondents to rate the level of general business activity as \'decrease\', \'increase\', or \'no change\'. This report usually has little impact because the New York and Philadelphia Federal Reserve release similar reports about two weeks earlier.

Measures overall economic health by combining ten leading indicators including average weekly hours, new orders, consumer expectations, housing permits, stock prices, and interest rate spreads.

The Consumer Price Index (CPI) measures the rate of inflation (i.e., the rate of price changes) experienced by consumers when purchasing goods and services. A rising trend has a positive effect on the nation's currency. The primary objective of the central bank is to achieve price stability; when inflation rises above an annualized rate of approximately 2%, they will respond by raising interest rates to bring prices down. Higher interest rates attract foreign investment, thus increasing demand for the nation's currency. CPI is one of the most closely watched indicators and will usually have a high impact upon release.

Measures the total amount spent by consumers on goods and services.

Business Climate Index measures the mood of firms in manufacturing, construction, wholesale and retail.

Measures the mood of consumers in regard to economic conditions. The reading is derived from a monthly survey that asks respondents to evaluate the prospects for the economy in the future. Higher readings point to higher consumer optimism. When consumers are optimistic they tend to purchase more goods and services, which stimulates the economy.

Gross Domestic Product (GDP) measures the total value of all goods and services produced by the economy. A rising trend has a positive effect on the nation\'s currency. GDP is the broadest measure of activity and the primary gauge of the economy\'s health. To foreign investors, a strong economy is viewed favorably because it spurs investment opportunities in the domestic stock and bond markets. More importantly, the central bank is more likely to raise interest rates in the face of a strong and growing economy. The combination of these effects can have a large impact on the demand for the nation\'s currency.

The Corporate Services Price Index (CSPI) measures the rate of inflation experienced by corporations when purchasing services. A rising trend has a positive effect on the nation's currency because when businesses pay more for services, they are likely to pass the higher costs to the consumer.