Thread: Economic Events 22/08/2012

12:30 CAD Retail Sales June (MoM)

Forecast: 0.1% Previous: 0.3%

Change in the total value of sales at the retail level. It’s the primary gauge of consumer spending, which accounts for the majority of overall economic activity.

14:00 USD Existing Home Sales July

Forecast: 4.52M Previous: 4.37M

Annualized number of residential buildings that were sold during the previous month, excluding new construction. It’s a leading indicator of economic health because the sale of a home triggers a wide-reaching ripple effect. For example, renovations are done by the new owners, a mortgage is sold by the financing bank, and brokers are paid to execute the transaction.

18:00 USD Fed Releases Minutes from August 1 FOMC Meeting
It’s a detailed record of the FOMC’s most recent meeting, providing in-depth insights into the economic and financial conditions that influenced their vote on where to set interest rates. More hawkish than expected is positive for currency.

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