EUR Moderate Impact

Current Account

Market impact: Moderate Impact

Measures: The sum of the balance of trade (exports minus imports of goods and services), net factor income (such as interest and dividends) and net transfer payments (such as foreign aid).
Use: Current Account summarizes the economic transactions of an economy with the rest of the world. A positive trend of Current Account surpluses may lead to an appreciation of the EUR, as trade, income and transfer payments normally reflect EUR flowing into the Euro-zone and vice versa.
Released: 06:45 GMT, in the third week of each month
Data Source: Eurostat

German ZEW Economic Sentiment

Market impact: Moderate Impact

Measures: Investor sentiment in Germany.
Use: Measures the difference between positive and negative investors. A value of 0 indicates a neutral investor sentiment.
Released: 09:00 GMT, mid-month
Data Source: ZEW

Ifo Business Climate Index (Germany)

Market impact: Moderate Impact

Measures: German firms evaluation of the current German business climate.
Use: A monthly survey of about 7000 businesses. Readings above 100 signals a positive business climate and vice versa.
Released: 08:00 GMT, last week of each month.
Data Source: ifo

Ifo Business Expectation Index (Germany)

Market impact: Moderate Impact

Measures: German firms on the expectations for the next six months.
Use: A monthly survey of about 7000 businesses. Readings above 100 signals positive expectations for the economy and vice versa.
Released: 08:00 GMT, last week of each month
Data Source: ifo

Consumer Price Index (CPI)

Market impact: Moderate Impact

Measures: Rate of inflation or price change at consumer level.
Use: The CPI is the major indicator for inflation. If inflation exceeds about 2 % annually, the ECB will raise interest rate in order to bring down inflation. Higher interest rates attract foreign investors and thus the demand for EUR.
Released: 09:00 GMT, mid-month
Data Source: European Central Bank

Retail sales

Market impact: Moderate Impact

Measures: The total value of goods and services sold each month at the retail level.
Use: Indicator of consumption and consumer confidence. An positive trend of sales indicates consumer confidence and economic growth, which should be good for the Euro-zone economy.
Released: 09:00 GMT, one month following the reporting
month Data Source: Eurostat

ECB President Speech

Market impact: Moderate Impact

Measures: Important clues about the future monetary policy of the ECB.
Use: Investors pay close attention to areas that could give insight into future interest changes. Areas of interest are unemployment, growth and inflation.
Released: see ECB Calendar for release dates
Data Source: European Central Bank

Euro-zone Unemployment Rate

Market impact: Moderate Impact

Measures: The percentage of the individuals of the Euro-zone workforce without a job but actively seeking one.
Use: The higher the employment rate, the more money people have available for spending, which is good for the economy and ultimately the currency.
Released: 09:00 GMT, first week each month
Data Source: Eurostat

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