FXOpen: Your Financial Market Weekly Digest

 [] [FXOpen]( Any questions? [Email us](mailto:support@fxopen.co.uk?subject=) [Financial Market News] It's another busy week on the significant economic and corporate events front. Take a look at the key events compiled by our experts, that could trigger an increase in market volatility. [ [Trade now]( Economic data releases Tuesday, August 3 4:30am*: Australia (Australian dollar, AUD$): RBA Rate Statement (also known as Interest Rate Statement) The Statement is one of the main tools of the Reserve Bank of Australia Reserve Bank Board to inform investors about monetary policy. The Statement contains the outcome of the Board’s decision on interest rates, their commentary about the economic conditions that influenced their decision, discusses the economic outlook and offers some insight into future decisions. * Hereinafter, UTC 10:45pm: New Zealand (New Zealand dollar, NZD$): - Employment Change q/q This indicator measures the change in the number of employed people.The numbers are released fairly late, but it's still the earliest indication of the employment situation which tends to impact the market. Additionally, job creation is an important indicator of consumer spending, which, in turn, accounts for a majority of overall economic activity - Unemployment Rate This indicator measures the percentage of the total unemployed workforce actively seeking employment. The number of unemployed people is an important signal of overall economic health. Wednesday, August 4 12:15pm: US (the United States dollar, USD$): - Automatic Data Processing, Inc. Non-Farm Employment Change The data measures the estimated change in the number of employed people during the previous month, minus the farming industry and government. This is an early look at employment growth. - Institute for Supply Management Services PMI (also known as Non-Manufacturing PMI, Non-Manufacturing ISM Report On Business) The data measures the level of a diffusion index based on surveyed purchasing managers, minus the manufacturing industry. It is considered to be a leading indicator of economic health: as businesses react to market conditions, their purchasing managers provide a relevant insight into their respective companies’ view of the economy (by rating the relative level of business conditions, including employment, production, new orders, prices, supplier deliveries, and inventories). Thursday, August 5 11:00am: UK (the British Pound, GBP£): - Asset Purchase Facility (also known as Quantitative Easing Programme, Money Printing Programme) Measures the total value of money the Bank of England will create and use to purchase assets in the open market. The data increases demand for bonds which usually leads to lower long-term interest rates. The Program is derived via Monetary Policy Committee members voting on the total amount of money to create for the program. - BOfE Monetary Policy Report The Report shows the BOfE's projection for inflation and economic growth over the next two years. It provides valuable insight into the bank's view of economic conditions and inflation, which basically shape the future of monetary policy and influence future interest rate decisions. - MPC Asset Purchase Facility Votes The Vote is reported in an 'X-X-X' format: the 1st number is how many MPC members voted to increase the stock of asset purchases; the 2nd number is how many voted to decrease the stock of asset purchases; the 3rd number is how many voted to hold asset purchases. This breakdown provides insight into which members are changing their stance on asset purchases, and how close the committee is to enacting a change in future purchases. - Monetary Policy Summary The MPC uses this tool to inform investors about monetary policy, the economic outlook and the possible outcome of future votes. 11:00pm: Australia (Australian dollar, AUD$): Reserve Bank of Australia’s Governor Philip Lowe Speaks Governor Lowe is due to testify before the House of Representatives Standing Committee on Economics. As head of the central bank, he has more influence over the nation's currency value than any other person, and his speeches tend to cause volatility on the market as traders attempt to decipher interest rate clues. Friday, August 6 11:15am: UK (the British Pound, GBP£): MPC Member Ben Broadbent Speaks Broadbent is to discuss the Monetary Policy Report at an online event hosted by the BofE. Audience questions are expected. 12:30pm: Canada (Canadian dollar, CAD$): - Employment Change The Report measures the change in the number of employed people for the previous month. - Unemployment Rate The Report measures the percentage of the total workforce that is unemployed and actively seeking employment during the previous month. Although it is considered to be a lagging indicator, the number of unemployed people is an important signal of overall economic health because consumer spending is highly correlated with labour-market conditions. 12:30pm: US (the United States dollar, USD$): - Average Hourly Earnings m/m The Report measures the change in the price businesses pay for labor, minus the farming industry. It is considered to be one of the leading indicators of consumer inflation: when businesses pay more for labor, the higher costs are usually passed on to the consumer; - Non-Farm Employment Change (also known as Non-Farm Payrolls, NFP, Employment Change) The Report measures the change in the number of employed people during the previous month, minus the farming industry. - Unemployment Rate The Report measures the percentage of the total workforce that is unemployed and actively seeking employment during the previous month. Among other factors, unemployment is also a major consideration for those who decide the US monetary policy. We hope our newsletter will help you shape your trading plan for this week. 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