Inflation indicators

The Consumer Price Index (Consumer Price Index - CPI) - that's the retail price index.
The index of producer prices (Producer Price Index - PPI) - the index of wholesale prices.
The more of these indices, the more expensive the national currency. Considered acceptable to the growth of these indices to 3% per year.

The monetary aggregates:
M1, M2, M3, M4 - MONEY SUPPLY - monetary support.
M1 - cash in circulation, bank notes and coins;
M2 = M1 + funds for the settlement and current accounts in banks, traveler's checks;
M3 = M2 + time deposits in banks;
M4 = M3 + valuable state documents.
The accelerated growth of the money supply, both in cash and non-cash, provide downward pressure on the currency.

Gross domestic product (Gross Domestic Product - GDP)
The higher the GDP, the better the condition of economy. Optimal change - up to 3% a year, if higher - the reverse reaction. Have to enter the higher rates, which will cause the appreciation of the national currency.
CPI and PPI are considered once a month, M / M.
GDP - Quarterly Q / Q and converted to year Y / Y.
Financial performance report (Treasure Statement)

1. Revenues and expenses of citizens
Personal income (Personal Income)
Feeling the consumer's willingness to spend money (Consumer Sentiment)
2. Construction Spending (Construction Spending)
Start of construction (Hosing Starts)
Appeal at resolving (Building Permits)
New home prices (New Houses Sales)
Current prices (Existing Houses Sales).
The unemployment rate (Unemployment Rate) - is once a month. With increase in national currency depreciates.

Initial jobless claims (Imital Claims).
Ongoing treatment (Continuing Claims).
Increase in these parameters results in a cheaper currency.
Retailing (Retail Sales) - the better the trade, the stronger currency.
Dealer orders durable goods (Durable Goods).
All of this information is Moscow time at 16:30 and 18:30 (Reuters, CQG)

JAPAN
Japan's fiscal year ends on March 31. By the end of the year, as a rule, to take stock of balances transferred to a large amount foreign exchange in the yen, which tends to rise in price. Numerous insurance companies in Japan are the largest players in the market: USD / JPI, USD / DEM, DEM / JPI, CHF / JPI, GBP / JPI. The big problem in Japan is an aging population. Hold on for many years a small interest rate has caused distortion in the banking industry, but, nevertheless, Japan's banks remain the world's major banks. Strengthening South-East economy in the long term will give a chance to the yen to become the main currency for the Asian region.

GERMANY
In Germany a very costly annexation of East Germany (larger transfers from the pension fund, five undeveloped land and unemployment). Under Gorbachev, and later under Yeltsin, Germany issued a lot of credit to Russia ($ 30mlrd), so that any adverse political events in Russia cause a dramatic change in the course of the brand in relation to other currencies. Reports on the state of health of Yeltsin dramatically reduces the cost of DEM versus $.

The OTC turnover index (NASDAQ)

The National Association of Securities Dealers calculates a number of indices representing both OTC turnover in general, and of corporations individual industries. The main index is the NASDAQ, which are included as a component stock of about 3,500 corporations (other than listed on the stock exchanges). This index is an index weighted by the market value of its components. It was first calculated in February 1971.
Transactions in options and futures on this index are carried out on the Chicago Mercantile Exchange.
Falling stock index leads to a drop in the national currency.

NASDAQ.SYSTEM
U.S. OTC market dealers are connected with the sellers and purchasers ¬ securities via the automated Institute ¬ formation about the quotes of the National Association of Securities Dealers NASDAQ. This system transmits the most recent courses of supply and demand to 5100 shares, selected from among the most active ¬ but sold over the counter. Facilitating the establishment of con ¬ cycles between sellers and buyers, NASDAQ has made tor ¬ merce on the OTC market continuously. To conclude the transaction ¬ ki securities not listed on a system of NASDAQ, ¬ lam buyers and sellers have to find each other on the reference edition ¬ tions or access to certain dealers of the stock market. When ¬ approximately 2,900 shares of all listed in NASDAQ, meeting the convent ¬ dy requirements for financial parameters of the issuer and the activity is about ¬ Company, rendered in a special list - National market system ¬ mu in the NASDAQ (NASDAQ / NMS). Transactions on shares of that list carefully monitored by dealers and investors, so the details of their quotes are published in the financial press quotes separately from other securities of OTC turnover.

NASDAQ provides three levels of service. ¬ The first provided an opportunity to retail brokers and their customers to track the terminal, located in the very brokerage firm, or not far from it, the highest current price of the offer to purchase and the lowest current asking price for the sale. In some cases the asking prices for buying and selling - of two hundred ¬ ron each quote - can be provided by various dealers ¬ authors. The customer may not always be sure that his order will be executed at the displayed price.

The second and third levels show a firm quotes for all ¬ registered dealers of the system. However, the third level indicated ¬ The caller also changes in the quotes as the market price. Firms that do not set up bilateral to ¬ portation, but receive orders customers may prefer second-level services, which provides them with access to information on the best market prices. Some institutional investors ¬ tors, particularly insurance companies use the services of the second ¬ cerned level to accurately assess the value of its portfolio securities and to monitor the activity of dealers, such as finding out who is constantly offering the best market prices. Those who exhibited bilateral quotations must be a subscriber con ¬ ing the third level, as soon as this level allows dealers ¬ py to make or change the quotes that are displayed by the system.

NASDAQ system is divided into two parts: the issue in the conventional system and the emission in the NASDAQ National Market System (Na ¬ tional Market System - NMS). NMS, being the upper tier of NASDAQ, takes the most well-known and top-selling issue. At the time of its criteria for inclusion in the course bulletin was much ¬ nd more stringent than the usual system of NASDAQ. However, in 1990 the Board of Directors proposed to double the usual requirements for inclusion in the course bulletin NASDAQ, which would bring together the oc ¬ novnye criteria for the two parts of the system.

There are also some alternative rules CHANGES ¬ tion in the course bulletin, which apply to companies that do not meet these criteria, but the acting is not less than 3 years old, having larger assets and more shares outstanding in comparison with the above criteria.

Information reporting NMS similar reporting on emissions of shares that are traded on exchanges. These accounts shall be published in the press of business, and include: the highest and self ¬ mye low prices in the past 52 weeks, the symbols of companies in the NASDAQ, the dividend rate, the ratio of market price-earnings ratio of the volume, the highest and lowest prices at the close of trade and net changes during the day. In other words, all this information is that most investors get ¬ Institute for emissions, as quoted on the New York Stock Exchange or the American Stock Exchange, also legkodos ¬ avail able on emissions, quoted National Market System.

The volume of trading in the NASDAQ NMS system, and has long been ahead of sovo ¬ kupno trade on the American Stock Exchange and regional ¬ governmental exchanges. This market share is the third largest in the world, behind only New York and Tokyo stock exchanges.

An important tool in the American counter trading case ¬ RAT electronic recorders current transactions, combined in a nationwide network of Inter Market Trading System. Efforts to identify suspicious transactions previously carried out manually, now largely computerized. In electronic trading NASDAQ involved 50 control ¬ ditch, using 40 special electronic product designed to track suspicious transactions.

In the case of "no" automated methods of supervision con ¬ trolery NASDAQ conduct additional investigation, requesting ¬ Shivaya necessary information directly from the transaction counterparties ¬ stone. Every year they have to deal with many thousands of cases of establishing abuse. About 250 of them, a decision is to impose a fine or license revocation.

Indexes of the American Stock Exchange (AMEX)

American Stock Exchange publishes two major indexes, which are calculated on an entirely different basis.The main market index of the American Stock Exchange (AMEX Major Market Index) is a simple average of the price movements of 20 leading industrial corporations. It was conceived by the American Stock Exchange as a kind of substitute for the Dow Jones industrial average. Although it is calculated and published by the American Stock Exchange, it consists of shares of corporations listed on the New York Stock Exchange. It is noteworthy that 15 of them are also components of the Dow Jones industrial average. Transactions in futures on this index are carried out on the Chicago Mercantile Exchange.

The index of the market value of the American Stock Exchange (AMEX Market Value Index) is calculated on the basis of a fundamentally different: it is an index weighted by the market value of all issued shares of those corporations that are included in it as a component. It was first published in September 1973. It includes as a component of more than 800 issues of shares representing securities of corporations of all major industry groups registered on the American Stock Exchange, including, in addition to common stock, American depositary receipts and subscription certificates. From a technical point of view it is unique due to the fact that in its calculation assumes the form of cash dividends paid by its member shares are reinvested and, on this basis, they are reflected in the index. Options on the index are traded on the American Stock Exchange.

The index of the New York Stock Exchange (NYSE Index)

This index is a weighted index of the market value of the movement of share prices of all the corporations that have registered their shares on the New York Stock Exchange, that is, in fact, this figure represents the average price per share for all companies on the New York Stock Exchange, the weighted the market value of the shares of each corporation (with appropriate adjustments for factors stock splits, mergers and acquisitions).

Unlike the Dow, which is expressed in points, NYSE index is expressed in dollars. Transactions in options on this index are carried out on the most of the New York Stock Exchange. Transactions in futures contracts are carried out on the New York Futures Exchange, which is a division of the New York Stock Exchange.