Forex 1st Of July 2008 - Forex Forum

Hello,

today in the economic calendar:

04:30 GMT (now): RBA Interest Rate Decision is announced by the Reserve Bank of Australia. If the RBA is hawkish about the inflationary outlook of the economy and rises the interest rates it is positive, or bullish, for the AUD. Likewise, if the RBA has a dovish view on the Australian economy and keeps the ongoing interest rate, or cuts the interest rate it is seen as negative, or bearish.

07:55 GMT: The Manufacturing Purchasing Managers Index (PMI) released by the NTC economics captures business conditions in the manufacturing sector. As the manufacturing sector dominates a large part of total GDP, the manufacturing PMI is an important indicator of business conditions and the overall economic condition in Germany. A result above 50 signals is bullish for the EUR, whereas a result below 50 is seen as bearish.

07:55 GMT: The Unemployment Rate released by the Bundesagentur für Arbeit shows , in a percent basis, the amount of unemployed people in Germany. A decrease in this indicator has positive implications for consumer spending which stimulates economic growth. A decrease of the figure is bullish for the EUR, while an increase is bearish.

14:00 GMT: The Institute for Supply Management (ISM) Manufacturing Index shows business conditions in the US manufacturing sector It is a significant indicator of the overall economic condition in US. A result above 50 is seen as positive (or bullish) for the USD, whereas a result below 50 is seen as negative (or bearish).