Forex encyclopedia

Business index of the Federal reserve bank, or Philadelphia Federal index represents results of surveying industrial managers of Philadelphia enterprises about their attitude to current economic conditions and further business outlook. The value below zero signalizes about negative trends in the US economy. The index is published on every third Thursday of month at 10:00 a.m EST (New York). Market response to the index is minor. Its growth favorably influences consolidation of national currency. Since the value is published shortly before NAPM index, it is closely watched and then forecast on expected national PMI is made.

Japan Corporate Goods Price Index (CGPI) is an economic indicator calculated on the basis of price of goods acquired by Japanese enterprises. The index inter alia accounts for feedstock prices directly impacting on the final cost of manufacturing, therefore, this index is used by companies to adjust prices for its production. CGPI also accounts for the transportation prices. If apart from growth of CGPI Japan experiences rise in index of consumer prices, it tells about rise in inflation in the country. In its turn, it signalizes Bank of Japan about the possibility of raising of major interest rates. When published index value is above expected, it gives a slight support for consolidation of national currency.