Thread: Economic Events 03/09/2012

7:00 CHF SNB Chairman Jordan Speaks

Due to deliver a speech titled “Challenges for Switzerland as a Financial Center” at the NZZ Swiss Capital Market Forum, in Zurich. As head of the central bank, which controls short term interest rates, he has more influence over the nation’s currency value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy.

7:15 CHF Retail Sales y/y

Forecast: 3.5% Previous: 3.7%

Change in the total value of inflation-adjusted sales at the retail level, excluding automobiles and gas stations. It’s the primary gauge of consumer spending, which accounts for the majority of overall economic activity.

7:15 EUR Spanish Manufacturing PMI

Forecast: Previous: 42.3

Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry. It’s a leading indicator of economic health – businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company’s view of the economy.

7:45 EUR Italian Manufacturing PMI

Forecast: 44.9 Previous: 44.3

Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry. It’s a leading indicator of economic health – businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company’s view of the economy.

8:30 GBP Manufacturing PMI

Forecast: 46.1 Previous: 45.4

Level of a diffusion index based on surveyed purchasing managers in the manufacturing industry. It’s a leading indicator of economic health – businesses react quickly to market conditions, and their purchasing managers hold perhaps the most current and relevant insight into the company’s view of the economy.

13:30 EUR ECB President Draghi Speaks

Due to testify on banking union before the European Parliament’s Economic and Monetary Affairs Committee, in Brussels. As head of the ECB, which controls short term interest rates, he has more influence over the euro’s value than any other person. Traders scrutinize his public engagements as they are often used to drop subtle clues regarding future monetary policy.

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