Economic Events 24/09/2012

08:00 EUR German Current Assessment

Forecast: 111.0 Previous: 111.2

The German Current Assessment rates current business conditions in Germany, without considering future expectations. It is a sub-index of the German Ifo Business Climate Index. A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.

08:00 EUR German Business Expectations

Forecast: 95.0 Previous: 94.2

German Business Expectations rates the expectations of businesses in Germany for the following six months. It is a sub-index of the German Ifo Business Climate Index. A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.

08:00 EUR German Ifo Business Climate Index

Forecast: 102.5 Previous: 102.3

The German Ifo Business Climate Index rates the current German business climate and measures expectations for the next six months. It is a composite index based on a survey of manufacturers, builders, wholesalers and retailers. The index is compiled by the Ifo Institute for Economic Research. A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.

19:00 CAD Bank of Canada Governor Carney Speaks

Bank of Canada (BOC) Governor Mark Carney (February 2008 – February 2015) is to speak. As head of the BOC’s Governing Council, which controls key short term interest rates, Carney has more influence over the Canadian dollar’s value than any other person. Traders scrutinize his public engagements for clues regarding future monetary policy. His comments may determine a short-term positive or negative trend.

22:00 CHF SNB Chairman Thomas Jordan speaks

Swiss National Bank (SNB) Chairman April 2012 (Acting Chairman January 2011 – April 2012; Vice Chairman May 2007 – January 2011; In January 2010 his title changed from Board Member to Vice Chairman) Thomas Jordan is to speak. As acting head of the SNB Governing Board, which sets short term interest rates, he has a major influence over the value of the Swiss franc. Traders watch his speeches closely as they are often used to drop subtle hints regarding future monetary policy and interest rate shifts. His comments may determine a short-term positive or negative trend.

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