Mon Jul 30, 12:00pm (GMT +7:00) : JPY : Low Impact Expected : Housing Starts y/y

Source MLIT (latest release)
Measures Change in the number of new residential buildings that began construction;
Usual Effect Actual > Forecast = Good for currency;
Frequency Released monthly, about 30 days after the month ends;
Next Release Aug 29, 2008
Why Traders
Care It's a leading indicator of economic health because building construction produces a wide-reaching ripple effect. For example, jobs are created for the construction workers, subcontractors and inspectors are hired, and various construction services are purchased by the builder; Acronyms Ministry of Land, Infrastructure, Transport, and Tourism (MILT);

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Mon Jul 30, 8:30am (GMT +7:00) : AUD : High Impact Expected : Retail Sales m/m

Source Australian Bureau of Statistics (latest release)

Measures Change in the total value of sales at the retail level;

Usual Effect Actual > Forecast = Good for currency;

Frequency Released monthly, about 30 days after the month ends;

Next Release Sep 2, 2008

FF Notes This is the earliest and broadest look at vital consumer spending data;

Why Traders
Care It's the primary gauge of consumer spending, which accounts for a majority of overall economic activity;

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Mon Jul 30, 6:15am (GMT +7:00) : JPY : Low Impact Expected : Manufacturing PMI

The Manufacturing Purchasing Manager's Index (PMI) measures the activity level of purchasing managers in the manufacturing sector, with a reading above 50 indicating expansion. A rising trend has a positive effect on the nation's currency. To produce the index, purchasing managers are surveyed on a number of subjects including employment, production, new orders, supplier deliveries, and inventories. Traders watch these surveys closely because purchasing managers, by virtue of their jobs, have early access to data about their company’s performance, which can be a leading indicator of overall economic performance.

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