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ECONOMIC RELEASES Next 24 Hours Daily Effects March 7, 2007 Currency GMT Release EST Previous Comments JPY 23:50 Money Supply M2+CD (YoY ) (FEB) 1.1% 1.0% JPY 23:50 Broad Liquidity (YoY) (FEB) 2.7% 2.6% JPY 23:50 Bank Lending (YoY) (FEB) 2.0% 1.7% JPY 23:50 Bank Lending Banks (YoY) (FEB) -- 1.8% JPY 23:50 Bank Lending Banks Adjusted (YoY) (FEB) -- 2.8% JPY 6:00 Machine Tool Orders (YoY) (FEB P) -- 6.0% CHF 6:45 Consumer Price Index (MoM) (FEB) 0.3% -0.7% CHF 6:45 Consumer Price Index (YoY) (FEB) 0.1% 0.1% JPY 7:00 Eco Watcher's Survey - Current (FEB) -- 47.2 JPY 7:00 Eco Watchers Survey - Outlook (FEB) -- 50.9 EUR 7:45 French Central Government Balance (euros) (JAN) -- -36.2B GBP 10:30 BRC Shop Price Index (MoM) (FEB) -- -0.6% GBP 10:30 BRC Shop Price Index (YoY) (FEB) -- 1.8% EUR 11:00 German Industrial Production sa (MoM) (JAN) 0.3% -0.5% EUR 11:00 German Industrial Production nsa, w.d.a (JAN) (YoY) 6.1% 5.2% GBP 12:00 Bank of England Announces Rate Decision 5.25% 5.25% EUR 12:45 European Central Bank Announces Rate Decision 3.75% 3.50% CAD 13:15 Housing Starts (FEB) 220.0K 249.3K CAD 13:30 New Housing Price Index (MoM) (JAN) 0.2% 5.0% USD 13:30 Initial Jobless Claims (MAR 3) 333K 338K USD 13:30 Continuing Claims (FEB 24) -- 2640K NZD GMT Upcoming Events & Speeches USD 3:30 Treasury's Paulson Speaks on Financial Markets EUR 13:30 Trichet Speaks at European Central Bank News Conference CAD 19:35 BoC Governor Dodge Speaks on the Need for Flexibility Demand for funds is expected to pick up pace as gradual economic recovery is slowly taking effect with easing consumer doubts on the economy. Likely to benefit in the relative low cost of borrowing environment. Slowing consumer spending might relieve some inflation pressure. Consumer outlook will remain at the focal point in the future of economic progress. Deficit is likely to be trimmed as increasing effort to cut government spending. Pricing pressure might cool off as consumers became more pessimistic about the country's economic outlook,; Booming exports is expected to drive industrial activity higher. Lower than expected on consumer sentiment might relieve some inflation pressure. Surging exports and growing consumer appetite will put higher pressure on pricing. Low mortgage rates, solid employment and income growth may continue to support residential construction, while new home prices are expected to be unchanged. Cutting payrolls and lower employment growth will likely give rise on jobless claims. The information contained herein is derived from sources we believe to be reliable, but of which we have not independently verified. FXCM, L.L.C.® assumes no responsibility for errors, inaccuracies or omissions in these materials, nor shall it be liable for damages arising out of any person’s reliance upon this information. FXCM, L.L.C.® does not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. FXCM, L.L.C.® shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation losses, lost revenues, or lost profits that may result from these materials. Opinions and estimates constitute our judgment and are subject to change without notice. Past performance is not indicative of future results.
ECONOMIC RELEASES Last 24 Hours Daily Effects March 7, 2007 Currency GMT Release Actual Previous Comments AUD 22:30 AiG Performance of Construction Index (FEB) 51.7 48.4 Moved higher on employment and spending. AUD 22:30 Reserve Bank of Australia Rate Decision 6.25% 6.25% Rates unchanged on lack of present inflationary concern. JPY 23:50 Official Reserve Assets (FEB) $905.0B $895.4B New record, second-largest to China. AUD CashCard Retail Index (MoM) (FEB) -0.6% 0.9% Signs of lower credit card borrowing. GBP 0:01 Nationwide Consumer Confidence (FEB) 85 84 Britons expected economy to stay strong. AUD 0:30 Gross Domestic Product (QoQ) (4Q) 1.0% 0.3% Quarterly growth doubled estimates on AUD 0:30 Gross Domestic Product (YoY) (4Q) 2.8% 2.2% capital expenditure and consumption. NZD 2:00 ANZ Commodity Price Index (FEB) 1.6% 1.3% Raw material prices inched higher. JPY 5:00 Coincident Index (JAN P) 55.6% 75.0% Lower leading indicator suggested growth JPY 5:00 Leading Economic Index (JAN P) 35.0% 31.8% will slow from previously torrid pace. AUD 5:30 Foreign Reserves (Australian dollars) (FEB) $68B 76.8B Fall on foreign exchange holdings. CHF 6:45 Unemployment Rate (FEB) 3.2% 3.3% Reached fresh 4-year lows, supported solid CHF 6:45 Unemployment Rate sa (FED) 3.0% 3.0% spending and economic growth. EUR 11:00 German Factory Orders sa (MoM) (JAN) -1.0% -0.2% Results were mixed as prior month adjusted EUR 11:00 German Factory Orders nsa (YoY) (JAN) 7.8% 1.7% higher. USD 12:00 MBA Mortgage Applications (MAR 2) 7.3% 3.2% Rose as lower borrowing costs boosted home purchases and refinancing. USD 13:15 ADP Employment Change (FEB) 57K 126K Levels drop on seasonal employment shifts. USD 15:30 EIA Crude Oil Stocks -- 1.4M Stocks fell on short crude demands during the summer. USD 20:00 Consumer Credit (JAN) $6.4B $6.0B Price concessions on goods boosted spending. NZD 20:00 Reserve Bank of New Zealand Rate Decision 7.50% 7.25% Rate hike was introduced to fight inflation. NZD 21:45 Terms of Trade Index (QoQ) (4Q) 2.4% -1.9% Falling import prices has helped drive terms of trade higher from previous quarter. GLOBAL MARKETS Markets Close Change Comments Dow 12192.45 -15.14 Market fell as the nation's second-largest homebuilder darkened the outlook on S&P 500 1391.97 -3.44 housing. Nikkei 16764.62 -79.88 Japanese stocks fell, led by weaker earnings growth on Canon and Sony. FTSE 6156.50 +18.00 DAX 6617.75 +22.75 European stocks advanced for a second day as investors bet takeovers will increase retail and gaming industries. Gold 649.10 +2.60 Rises on expectations rebounding equity markets will lead to demand for risky metal. Crude Oil (WTI) 61.79 +1.10 Energy complex receives a boost on depleted inventory numbers USD Index 83.75 -0.29 Extends decline as Beige Book shows weak expansion in several sectors. US 10-Year (Yld) 4.487 -4bp Treasury advanced as investors seek refuge from falling stocks. Bund - 10 Year (Yld) Gilt - 10 Year (Yld) 3.912 4.76 +0bp +0bp European bonds drop for a third day on the speculation that raising interest rates is likely. JGB - 10 Year (Yld) 1.610 +0bp Japanese bond futures gained as stock slump revives debt demand. The information contained herein is derived from sources we believe to be reliable, but of which we have not independently verified. FXCM, L.L.C.® assumes no responsibility for errors, inaccuracies or omissions in these materials, nor shall it be liable for damages arising out of any person’s reliance upon this information. FXCM, L.L.C.® does not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. FXCM, L.L.C.® shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation losses, lost revenues, or lost profits that may result from these materials. Opinions and estimates constitute our judgment and are subject to change without notice. Past performance is not indicative of future results.
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