BEGIN:VCALENDAR VERSION:1.0 BEGIN:VEVENT SUMMARY:Consumer Sentiment DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: USD=0D=0A Period: May=0D=0A Previous: 62.6=0D=0A Forecast: 62.0=0D=0A Significance: 3=0D=0A Actual: =0D=0A =0D=0AMeasures consumer attitudes concerning both the present situation and future expectations. It's derived from a monthly 500-person survey conducted by the University of Michigan. Higher sentiment levels are a leading indicator of rising consumer spending, which accounts for two-thirds of the economy. =0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080516T140000Z END:VEVENT BEGIN:VEVENT SUMMARY:Building Permits DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: USD=0D=0A Period: Apr=0D=0A Previous: 928K=0D=0A Forecast: 920K=0D=0A Significance: 2=0D=0A Actual: 978K=0D=0A =0D=0AMeasures the annualized number of new residential building permits issued during the previous month. A rising trend has a positive effect on the nation's currency because obtaining a permit is one of the first steps in the home construction process. Permits therefore act as a leading indicator for the housing market. 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.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080516T123000Z END:VEVENT BEGIN:VEVENT SUMMARY:Housing Starts DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: USD=0D=0A Period: Apr=0D=0A Previous: 947K=0D=0A Forecast: 940K=0D=0A Significance: 2=0D=0A Actual: 1.032M=0D=0A =0D=0AMeasures the annualized number of new residential buildings that began construction 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.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080516T123000Z END:VEVENT BEGIN:VEVENT SUMMARY:Trade Balance DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: EUR=0D=0A Period: Mar=0D=0A Previous: 1.6B=0D=0A Forecast: =0D=0A Significance: 3=0D=0A Actual: -2.4B=0D=0A =0D=0AMeasures the difference in value between imported and exported goods and services. A positive Trade Balance indicates that more goods and services were exported than imported over a given period. A rising trend has a positive effect on the nation's currency. When higher levels of exports are sold to the world, demand for the nation's currency is elevated as foreigners convert their native currency to purchase the exports. The Trade Balance also has a sizable impact on GDP because high demand for exports creates increased employment and production, as domestic factories work to fill this demand. =0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080516T090000Z END:VEVENT BEGIN:VEVENT SUMMARY:Trade Balance DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: EUR=0D=0A Period: Mar=0D=0A Previous: -0.4B=0D=0A Forecast: -0.9B=0D=0A Significance: 1=0D=0A Actual: -0.5B=0D=0AItalian=0D=0AMeasures the difference in value between imported and exported goods and services. A positive Trade Balance indicates that more goods and services were exported than imported over a given period. A rising trend has a positive effect on the nation's currency. When higher levels of exports are sold to the world, demand for the nation's currency is elevated as foreigners convert their native currency to purchase the exports. The Trade Balance also has a sizable impact on GDP because high demand for exports creates increased employment and production, as domestic factories work to fill this demand. =0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080516T080000Z END:VEVENT BEGIN:VEVENT SUMMARY:Retail Sales m/m DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: CHF=0D=0A Period: Mar=0D=0A Previous: 3.3%=0D=0A Forecast: 3.0%=0D=0A Significance: 2=0D=0A Actual: 9.7%=0D=0A =0D=0AMeasures the value of sales at the retail level. A rising trend has a positive effect on the nation's currency because Retail Sales make up a large portion of consumer spending, which is a major driver of the economy and has a sizable impact on GDP. Traders pay close attention to Retail Sales because it is usually the first significant indicator of the month that relates to consumer behavior and is susceptible to surprises.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080516T071500Z END:VEVENT BEGIN:VEVENT SUMMARY:Household Confidence DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: JPY=0D=0A Period: Apr=0D=0A Previous: 36.7=0D=0A Forecast: 36.0=0D=0A Significance: 1=0D=0A Actual: 35.2=0D=0A =0D=0AMeasures the mood of households in regard to economic conditions. The reading is derived from a monthly survey that asks households to evaluate the prospects for the economy in the future.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080516T050000Z END:VEVENT BEGIN:VEVENT SUMMARY:Industrial Production m/m DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: JPY=0D=0A Period: Mar=0D=0A Previous: -3.1%=0D=0A Forecast: -3.1%=0D=0A Significance: 2=0D=0A Actual: -3.4%=0D=0A =0D=0AMeasures the total value of output produced by factories, mines, and utilities. A rising trend has a positive effect on the nation's currency because high levels of production are a sign of a strong economy. Industrial Production reacts quickly to the ups and downs of the business cycle and can be a leading indicator of manufacturing employment, average earnings, and personal income.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080516T043000Z END:VEVENT BEGIN:VEVENT SUMMARY:GDP q/q DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: JPY=0D=0A Period: Quarterly=0D=0A Previous: 0.9%=0D=0A Forecast: 0.6%=0D=0A Significance: 3=0D=0A Actual: 0.8%=0D=0A =0D=0AGross Domestic Product (GDP) measures the total value of all goods and services produced by the economy. =0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080515T235000Z END:VEVENT BEGIN:VEVENT SUMMARY:GDP Deflator DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: JPY=0D=0A Period: Quarterly=0D=0A Previous: -1.3%=0D=0A Forecast: -1.5%=0D=0A Significance: 1=0D=0A Actual: -1.4%=0D=0A =0D=0Athe Gross Domestic Product (GDP) Deflator measures the quarterly implied rate of inflation for all economic activity. The deflator is used to calculate the difference between nominal and real GDP.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080515T235000Z END:VEVENT BEGIN:VEVENT SUMMARY:NAHB Housing Market Index DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: USD=0D=0A Period: May=0D=0A Previous: 20.0=0D=0A Forecast: 20.0=0D=0A Significance: 1=0D=0A Actual: 19.0=0D=0A =0D=0AThe National Association of Home Builders (NAHB) Housing Market Index (HMI) measures the demand outlook of single-family home builders. The index is derived from a survey that asks respondents to rate the level of current sales and sales expectations over the next six months as either ?ood,??air?or ?oor.?The survey also asks builders to rate traffic of prospective buyers as either ?igh to very high,??verage?or ?ow to very low.?A reading above 50 indicates that builders have a positive demand outlook.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080515T170000Z END:VEVENT BEGIN:VEVENT SUMMARY:Philadelphia Fed Manufacturing Index DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: USD=0D=0A Period: May=0D=0A Previous: -24.9=0D=0A Forecast: -19.0=0D=0A Significance: 3=0D=0A Actual: -15.6=0D=0A =0D=0AMeasures the general business conditions of manufacturers in the Philadelphia 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'. A rising trend has a positive effect on the nation's currency because good manufacturing conditions are a sign of a strong economy. Although this survey is limited to manufacturers in Philadelphia only, traders pay close attention because the Philadelphia Federal Reserve releases it weeks before other major reports on manufacturing (e.g., Industrial Production, ISM Manufacturing Index).=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080515T140000Z END:VEVENT BEGIN:VEVENT SUMMARY:Fed Chairman Bernanke Speaks DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: USD=0D=0A Period: =0D=0A Previous: =0D=0A Forecast: =0D=0A Significance: 4=0D=0A Actual: =0D=0A =0D=0AFederal Reserve Chairman Ben Bernanke will testify before the House Financial Services Committee regarding the ongoing subprime mortgage problems. As head of the Federal Open Market Committee (FOMC), which is responsible for setting the nation\'s short term interest rate, Ben Bernanke is arguably the most influential figure in the currency markets. Bernanke is known to drop clues during his speeches, as it is the FOMC\'s tenet to keep the public aware of their monetary policy long before interest rates are changes. Heavy market volatility is often experienced during Bernanke\'s speeches as traders attempt to decipher his clues.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080515T133000Z END:VEVENT BEGIN:VEVENT SUMMARY:Capacity Utilization Rate DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: USD=0D=0A Period: Apr=0D=0A Previous: 80.5%=0D=0A Forecast: 80.1%=0D=0A Significance: 2=0D=0A Actual: 79.7%=0D=0A =0D=0AMeasures the percentage of available resources being utilized by factories, mines and utilities. A rising trend has a positive effect on the nation's currency because companies tend to raise their prices when nearing maximum capacity. This price increase (i.e., inflation) will eventually trickle down to the consumer, so capacity levels can act as a leading indicator of CPI and other consumer inflation gauges. Traders pay special attention to the Capacity Utilization Rate because it's one of the only inflation indicators that is produced directly by the Federal Reserve.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080515T131500Z END:VEVENT BEGIN:VEVENT SUMMARY:Industrial Production m/m DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: USD=0D=0A Period: Apr=0D=0A Previous: 0.2%=0D=0A Forecast: -0.3%=0D=0A Significance: 3=0D=0A Actual: -0.7%=0D=0A =0D=0AMeasures the total value of output produced by factories, mines, and utilities. A rising trend has a positive effect on the nation's currency because high levels of production are a sign of a strong economy. Industrial Production reacts quickly to the ups and downs of the business cycle and can be a leading indicator of manufacturing employment, average earnings, and personal income.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080515T131500Z END:VEVENT BEGIN:VEVENT SUMMARY:TIC Net Long-Term Transactions DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: USD=0D=0A Period: Mar=0D=0A Previous: 72.5B=0D=0A Forecast: 63.6B=0D=0A Significance: 3=0D=0A Actual: 80.4B=0D=0A =0D=0ATreasury International Capital (TIC) Net Long-Term Transactions measures the monthly difference in cross-border foreign and domestic purchases of long-term securities (i.e., bonds with an original maturity longer than one year). For example, if foreigners purchased $100 billion in US securities, and the US purchased $30 billion in foreign securities, the net reading would be $70 billion. A rising trend has a positive effect on the nation's currency because foreigners must first convert their domestic currency before they can purchase the nation's assets. This can dramatically elevate currency demand. Traders watch this indicator closely as it provides several insights into international currency flows.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080515T130000Z END:VEVENT BEGIN:VEVENT SUMMARY:Manufacturing Shipments m/m DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: CAD=0D=0A Period: Mar=0D=0A Previous: 1.6%=0D=0A Forecast: -0.2%=0D=0A Significance: 2=0D=0A Actual: -1.6%=0D=0A =0D=0AMeasure the total value of shipments made by manufacturers.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080515T123000Z END:VEVENT BEGIN:VEVENT SUMMARY:Unemployment Claims DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: USD=0D=0A Period: Weekly=0D=0A Previous: 365K=0D=0A Forecast: 370K=0D=0A Significance: 3=0D=0A Actual: 371K=0D=0A =0D=0AMeasures the number of individuals who filed for unemployment insurance for the first time over the past week. A falling trend has a positive effect on the nation's currency. Working people tend to spend more, and consumer spending is a major driver of the economy. However, unemployment usually draws little attention because traders view it as a lagging indicator.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080515T123000Z END:VEVENT BEGIN:VEVENT SUMMARY:ECB President Trichet Speaks DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: EUR=0D=0A Period: =0D=0A Previous: =0D=0A Forecast: =0D=0A Significance: 3=0D=0A Actual: =0D=0A =0D=0A =0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080515T114000Z END:VEVENT BEGIN:VEVENT SUMMARY:Core CPI y/y DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: EUR=0D=0A Period: Apr=0D=0A Previous: 2.0%=0D=0A Forecast: 2.0%=0D=0A Significance: 1=0D=0A Actual: 1.6%=0D=0A =0D=0ADescription Derivative of the Consumer Price Index (CPI) that excludes the volatile Food, Energy, Alcohol and Tobacco items. CPI with the exclusion of these volatile components is thought to be a better indicator of the underlying inflation trend and the central bank uses it as their primary inflation gauge, aiming to keep it at an annualized rate of 2%. =0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080515T090000Z END:VEVENT BEGIN:VEVENT SUMMARY:GDP q/q DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: EUR=0D=0A Period: Quarterly=0D=0A Previous: 0.4%=0D=0A Forecast: 0.5%=0D=0A Significance: 2=0D=0A Actual: 0.7%=0D=0A =0D=0AGross Domestic Product (GDP) measures the total value of all goods and services produced by the economy. =0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080515T090000Z END:VEVENT BEGIN:VEVENT SUMMARY:CPI y/y DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: EUR=0D=0A Period: Apr=0D=0A Previous: 3.6%=0D=0A Forecast: 3.3%=0D=0A Significance: 2=0D=0A Actual: 3.3%=0D=0A =0D=0AThe 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.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080515T090000Z END:VEVENT BEGIN:VEVENT SUMMARY:GDP q/q DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: EUR=0D=0A Period: Quarterly=0D=0A Previous: 0.4%=0D=0A Forecast: 0.4%=0D=0A Significance: 2=0D=0A Actual: 0.6%=0D=0AFrench=0D=0AGross Domestic Product (GDP) measures the total value of all goods and services produced by the economy. =0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080515T064500Z END:VEVENT BEGIN:VEVENT SUMMARY:GDP q/q DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: EUR=0D=0A Period: Quarterly=0D=0A Previous: 0.3%=0D=0A Forecast: 0.7%=0D=0A Significance: 2=0D=0A Actual: 1.5%=0D=0AGerman =0D=0AGross Domestic Product (GDP) measures the total value of all goods and services produced by the economy. =0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080515T060000Z END:VEVENT BEGIN:VEVENT SUMMARY:CPI m/m DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: EUR=0D=0A Period: Apr=0D=0A Previous: 0.5%=0D=0A Forecast: -0.2%=0D=0A Significance: 2=0D=0A Actual: -0.2%=0D=0AGerman =0D=0AThe 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.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080515T060000Z END:VEVENT BEGIN:VEVENT SUMMARY:Consumer Confidence DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: CHF=0D=0A Period: Quarterly=0D=0A Previous: 14.0=0D=0A Forecast: 10.0=0D=0A Significance: 3=0D=0A Actual: 2=0D=0A =0D=0AMeasures 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.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080515T054500Z END:VEVENT BEGIN:VEVENT SUMMARY:Core Machinery Orders m/m DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: JPY=0D=0A Period: =0D=0A Previous: -12.7%=0D=0A Forecast: -5.2%=0D=0A Significance: 2=0D=0A Actual: -8.3%=0D=0A =0D=0AMeasures the total value of new orders placed with machine manufacturers, excluding orders for items with a volatile sales cycle. A rising trend has a positive effect on the nation\'s currency. When manufacturers increase their purchasing of machinery it signals that the manufacturing industry is in an expansion phase.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080514T235000Z END:VEVENT BEGIN:VEVENT SUMMARY:Retail Sales m/m DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: NZD=0D=0A Period: =0D=0A Previous: -0.7%=0D=0A Forecast: -0.4%=0D=0A Significance: 3=0D=0A Actual: -1.2%=0D=0A =0D=0AMeasures the value of sales at the retail level. A rising trend has a positive effect on the nation's currency because Retail Sales make up a large portion of consumer spending, which is a major driver of the economy and has a sizable impact on GDP. Traders pay close attention to Retail Sales because it is usually the first significant indicator of the month that relates to consumer behavior and is susceptible to surprises.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080514T224500Z END:VEVENT BEGIN:VEVENT SUMMARY:Core Retail Sales m/m DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: NZD=0D=0A Period: =0D=0A Previous: 0.1%=0D=0A Forecast: -0.4%=0D=0A Significance: 2=0D=0A Actual: -0.5%=0D=0A =0D=0ADerivative of Retail Sales that excludes the Automobile Sales component. Automobile Sales make up roughly 25% of Retail Sales, but they can be very volatile from month to month and can distort the picture. Retail Sales with the exclusion of this volatile component is thought to be a better indicator of the underlying trend in consumer spending.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080514T224500Z END:VEVENT BEGIN:VEVENT SUMMARY:Crude Oil Inventories DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: USD=0D=0A Period: =0D=0A Previous: 5.7M=0D=0A Forecast: =0D=0A Significance: 2=0D=0A Actual: 0.2M=0D=0A =0D=0AThe Energy Information Administration's (EIA) Crude Oil Inventories measures the weekly increase in barrels of commercial crude oil held in inventory by US firms. The level of inventories influences the price of petroleum products, which can have an impact on inflation and other economic forces.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080514T143000Z END:VEVENT BEGIN:VEVENT SUMMARY:Core CPI DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: USD=0D=0A Period: Apr=0D=0A Previous: 0.2%=0D=0A Forecast: 0.2%=0D=0A Significance: 3=0D=0A Actual: 0.1%=0D=0A =0D=0ADerivative of the Consumer Price Index (CPI) that excludes the volatile Food, Energy, Alcohol and Tobacco items. CPI with the exclusion of these volatile components is thought to be a better indicator of the underlying inflation trend and the central bank uses it as their primary inflation gauge, aiming to keep it at an annualized rate of 2%.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080514T123000Z END:VEVENT BEGIN:VEVENT SUMMARY:CPI m/m DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: USD=0D=0A Period: Apr=0D=0A Previous: 0.3%=0D=0A Forecast: 0.3%=0D=0A Significance: 3=0D=0A Actual: 0.2%=0D=0A =0D=0AThe 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.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080514T123000Z END:VEVENT BEGIN:VEVENT SUMMARY:Industrial Production m/m DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: EUR=0D=0A Period: Mar=0D=0A Previous: 0.3%=0D=0A Forecast: -0.2%=0D=0A Significance: 2=0D=0A Actual: -0.2%=0D=0A =0D=0AMeasures the total value of output produced by factories, mines, and utilities. A rising trend has a positive effect on the nation's currency because high levels of production are a sign of a strong economy. Industrial Production reacts quickly to the ups and downs of the business cycle and can be a leading indicator of manufacturing employment, average earnings, and personal income.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080514T090000Z END:VEVENT BEGIN:VEVENT SUMMARY:Average Earnings Index +Bonus q/y DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: GBP=0D=0A Period: Mar=0D=0A Previous: 3.7%=0D=0A Forecast: 3.7%=0D=0A Significance: 2=0D=0A Actual: 4.0%=0D=0A =0D=0AThe Average Earnings Index (AEI) measures the average wage, including bonuses, paid to employees. =0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080514T083000Z END:VEVENT BEGIN:VEVENT SUMMARY:Claimant Count Change DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: GBP=0D=0A Period: Apr=0D=0A Previous: -1.2K=0D=0A Forecast: 0.1K=0D=0A Significance: 2=0D=0A Actual: 7.2K=0D=0A =0D=0AMeasures the change in the number of people claiming unemployment related benefits over the previous month. A falling trend has a positive effect on the nation's currency. Working people tend to spend more, and consumer spending is a major driver of the economy.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080514T083000Z END:VEVENT BEGIN:VEVENT SUMMARY:Unemployment Rate DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: GBP=0D=0A Period: Mar=0D=0A Previous: 5.2%=0D=0A Forecast: 5.2%=0D=0A Significance: 2=0D=0A Actual: 5.2%=0D=0A =0D=0AMeasures the percentage of the total work force that is unemployed and actively seeking employment. A falling trend has a positive effect on the nation's currency. Working people tend to spend more, and consumer spending is a major driver of the economy. However, unemployment usually draws little attention because traders view it as a lagging indicator.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080514T083000Z END:VEVENT BEGIN:VEVENT SUMMARY:CPI m/m DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: EUR=0D=0A Period: Apr=0D=0A Previous: 0.8%=0D=0A Forecast: 0.4%=0D=0A Significance: 2=0D=0A Actual: 0.3%=0D=0AFrench=0D=0AThe 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.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080514T064000Z END:VEVENT BEGIN:VEVENT SUMMARY:WPI q/q DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: AUD=0D=0A Period: =0D=0A Previous: 1.1%=0D=0A Forecast: 1.1%=0D=0A Significance: 2=0D=0A Actual: 0.9%=0D=0A =0D=0AThe Wage Price Index (WPI) measures the rate of inflation (i.e., the rate of price changes) encountered in the wages paid to workers. A rising trend has a positive effect on the nation's currency. When businesses pay more for labor, they are likely to pass the higher costs to the consumer, so traders view wage inflation as a leading indicator of consumer inflation.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080514T013000Z END:VEVENT BEGIN:VEVENT SUMMARY:CGPI y/y DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: JPY=0D=0A Period: Apr=0D=0A Previous: 3.9%=0D=0A Forecast: 3.6%=0D=0A Significance: 2=0D=0A Actual: 3.7%=0D=0A =0D=0AThe Corporate Goods Price Index (CGPI) measures the rate of inflation (i.e., the rate of price changes) experienced by corporations when purchasing goods.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080513T235000Z END:VEVENT BEGIN:VEVENT SUMMARY:Current Account DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: JPY=0D=0A Period: Mar=0D=0A Previous: 1.46T=0D=0A Forecast: 1.95T=0D=0A Significance: 1=0D=0A Actual: 2.10T=0D=0A =0D=0AMeasures the quarterly difference in value between imported and exported goods, services, income flows, and unilateral transfers. A rising trend has a positive effect on the nation's currency. The Current Account is a comprehensive accounting of the nation's trade with other countries. It includes the previously reported Trade Balance (which covers trade of goods and services), so traders focus on the income flows and unilateral transfer portions of the report.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080513T235000Z END:VEVENT BEGIN:VEVENT SUMMARY:Business Inventories m/m DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: USD=0D=0A Period: Mar=0D=0A Previous: 0.5%=0D=0A Forecast: 0.4%=0D=0A Significance: 2=0D=0A Actual: 0.1%=0D=0A =0D=0A Measures the value of goods held by manufacturers, wholesalers, and retailers. A falling trend has a positive effect on the nation's currency because retailers order more goods when they have depleted inventories. This creates more business for the wholesales, which in turn increase their orders to manufacturers.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080513T140000Z END:VEVENT BEGIN:VEVENT SUMMARY:Core Retail Sales m/m DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: USD=0D=0A Period: Apr=0D=0A Previous: 0.1%=0D=0A Forecast: 0.2%=0D=0A Significance: 3=0D=0A Actual: 0.5%=0D=0A =0D=0ADerivative of Retail Sales that excludes the Automobile Sales component. Automobile Sales make up roughly 25% of Retail Sales, but they can be very volatile from month to month and can distort the picture. Retail Sales with the exclusion of this volatile component is thought to be a better indicator of the underlying trend in consumer spending.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080513T123000Z END:VEVENT BEGIN:VEVENT SUMMARY:Retail Sales m/m DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: USD=0D=0A Period: Apr=0D=0A Previous: 0.2%=0D=0A Forecast: -0.2%=0D=0A Significance: 3=0D=0A Actual: -0.2%=0D=0A =0D=0AMeasures the value of sales at the retail level. A rising trend has a positive effect on the nation's currency because Retail Sales make up a large portion of consumer spending, which is a major driver of the economy and has a sizable impact on GDP. Traders pay close attention to Retail Sales because it is usually the first significant indicator of the month that relates to consumer behavior and is susceptible to surprises.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080513T123000Z END:VEVENT BEGIN:VEVENT SUMMARY:Import Price Index m/m DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: USD=0D=0A Period: Apr=0D=0A Previous: 2.8%=0D=0A Forecast: 1.7%=0D=0A Significance: 2=0D=0A Actual: 1.8%=0D=0A =0D=0AMeasures the monthly rate of inflation for imported goods.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080513T123000Z END:VEVENT BEGIN:VEVENT SUMMARY:Fed Chairman Bernanke Speaks DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: USD=0D=0A Period: =0D=0A Previous: =0D=0A Forecast: =0D=0A Significance: 4=0D=0A Actual: =0D=0A =0D=0AFederal Reserve Chairman Ben Bernanke will testify before the House Financial Services Committee regarding the ongoing subprime mortgage problems. As head of the Federal Open Market Committee (FOMC), which is responsible for setting the nation\'s short term interest rate, Ben Bernanke is arguably the most influential figure in the currency markets. Bernanke is known to drop clues during his speeches, as it is the FOMC\'s tenet to keep the public aware of their monetary policy long before interest rates are changes. Heavy market volatility is often experienced during Bernanke\'s speeches as traders attempt to decipher his clues.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080513T122000Z END:VEVENT BEGIN:VEVENT SUMMARY:CPI y/y DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: GBP=0D=0A Period: Apr=0D=0A Previous: 2.5%=0D=0A Forecast: 2.6%=0D=0A Significance: 3=0D=0A Actual: 3.0%=0D=0A =0D=0AThe 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.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080513T083000Z END:VEVENT BEGIN:VEVENT SUMMARY:Core CPI y/y DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: GBP=0D=0A Period: Apr=0D=0A Previous: 1.2%=0D=0A Forecast: 1.3%=0D=0A Significance: 2=0D=0A Actual: 1.4%=0D=0A =0D=0ADescription Derivative of the Consumer Price Index (CPI) that excludes the volatile Food, Energy, Alcohol and Tobacco items. CPI with the exclusion of these volatile components is thought to be a better indicator of the underlying inflation trend and the central bank uses it as their primary inflation gauge, aiming to keep it at an annualized rate of 2%. =0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080513T083000Z END:VEVENT BEGIN:VEVENT SUMMARY:RPI y/y DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: GBP=0D=0A Period: Apr=0D=0A Previous: 3.8%=0D=0A Forecast: 3.9%=0D=0A Significance: 2=0D=0A Actual: 4.2%=0D=0A =0D=0AThe Retail Price Index (RPI) measures the rate of inflation experienced by consumers when purchasing goods and services. RPI differs from CPI in that it only measures goods and services bought for the purpose of consumption by the vast majority of households.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080513T083000Z END:VEVENT BEGIN:VEVENT SUMMARY:BRC reatail sales DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: GBP=0D=0A Period: Apr=0D=0A Previous: -1.6%=0D=0A Forecast: =0D=0A Significance: 2=0D=0A Actual: -1.5%=0D=0A =0D=0AThe British Retail Consortium (BRC) Retail Sales Monitor measures the change in value of like-for-like (i.e. same-store) sales at surveyed retailers, which effectively excludes stores that have been open for less than a year.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080512T230000Z END:VEVENT BEGIN:VEVENT SUMMARY:New Housing Price Index m/m DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: CAD=0D=0A Period: Mar=0D=0A Previous: 0.3%=0D=0A Forecast: 0.2%=0D=0A Significance: 2=0D=0A Actual: 0.2%=0D=0A =0D=0AThe New Housing Price Index (NHPI) measures monthly changes in the selling prices of new residential houses. The NHPI is used as the inflation measure of new home construction.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080512T123000Z END:VEVENT BEGIN:VEVENT SUMMARY:PPI core DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: GBP=0D=0A Period: Apr=0D=0A Previous: 0.3%=0D=0A Forecast: 0.3%=0D=0A Significance: 3=0D=0A Actual: 1.0%=0D=0A =0D=0APPI core=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080512T083000Z END:VEVENT BEGIN:VEVENT SUMMARY:PPI Input m/m DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: GBP=0D=0A Period: Apr=0D=0A Previous: 1.8%=0D=0A Forecast: 1.6%=0D=0A Significance: 3=0D=0A Actual: 2.4%=0D=0A =0D=0AThe Producer Price Index (PPI) Input measures the rate of inflation (i.e., the rate of price changes) experienced by manufacturers when purchasing goods and services. A rising trend has a positive effect on the nation's currency. When manufactures pay more for goods and services, they are likely to pass the higher costs to the consumer, so PPI is thought to be a leading indicator of consumer inflation. PPI is highly regarded, and at extremes will have a market impact equal to that of its CPI counterpart.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080512T083000Z END:VEVENT BEGIN:VEVENT SUMMARY:PPI Output m/m DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: GBP=0D=0A Period: Apr=0D=0A Previous: 0.9%=0D=0A Forecast: 0.7%=0D=0A Significance: 2=0D=0A Actual: 1.4%=0D=0A =0D=0AThe Producer Price Index (PPI) Output measures the rate of inflation (i.e., the rate of price changes) experienced by manufacturers when selling goods and services. Manufacturers are unlikely to pass Output inflation to the consumer, so it has much less market impact than its PPI Input counterpart.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080512T083000Z END:VEVENT BEGIN:VEVENT SUMMARY:Trade Balance DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: GBP=0D=0A Period: Mar=0D=0A Previous: -7.6B=0D=0A Forecast: -7.5B=0D=0A Significance: 4=0D=0A Actual: -7.4B=0D=0A =0D=0AMeasures the difference in value between imported and exported goods and services. A positive Trade Balance indicates that more goods and services were exported than imported over a given period. A rising trend has a positive effect on the nation's currency. When higher levels of exports are sold to the world, demand for the nation's currency is elevated as foreigners convert their native currency to purchase the exports. The Trade Balance also has a sizable impact on GDP because high demand for exports creates increased employment and production, as domestic factories work to fill this demand. =0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080512T083000Z END:VEVENT BEGIN:VEVENT SUMMARY:Industrial Production m/m DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: EUR=0D=0A Period: Mar=0D=0A Previous: -0.2%=0D=0A Forecast: -0.1%=0D=0A Significance: 1=0D=0A Actual: -0.2%=0D=0AItalian=0D=0AMeasures the total value of output produced by factories, mines, and utilities. A rising trend has a positive effect on the nation's currency because high levels of production are a sign of a strong economy. Industrial Production reacts quickly to the ups and downs of the business cycle and can be a leading indicator of manufacturing employment, average earnings, and personal income.=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080512T080000Z END:VEVENT BEGIN:VEVENT SUMMARY:Economic Watch DESCRIPTION;ENCODING=QUOTED-PRINTABLE:Currency: JPY=0D=0A Period: Apr=0D=0A Previous: 36.9=0D=0A Forecast: =0D=0A Significance: 1=0D=0A Actual: 35.5=0D=0A =0D=0AMeasures the economic climate=0D=0A To see more releases visit Finotec's economic calendar: http://www.finotec.com/economic-calendar/ URL:http://www.finotec.com DTSTART:20080512T050000Z END:VEVENT END:VCALENDAR