#TermāϏāĻšāϜ āĻŦāĻžāĻ‚āϞāĻž āĻ…āĻ°ā§āĻĨāϏāĻ‚āĻ•ā§āώāĻŋāĻĒā§āϤ āĻŦā§āϝāĻžāĻ–ā§āϝāĻž
1Fundamental AnalysisāĻŽā§ŒāϞāĻŋāĻ• āĻŦāĻŋāĻļā§āϞ⧇āώāĻŖāϕ⧋āύ⧋ asset-āĻāϰ āĻĒā§āϰāĻ•ā§ƒāϤ āĻ…āĻ°ā§āĻĨāύ⧈āϤāĻŋāĻ• āĻŽā§‚āĻ˛ā§āϝ āĻ“ āĻļāĻ•ā§āϤāĻŋ āĻŦāĻŋāĻļā§āϞ⧇āώāĻŖ āĻ•āϰāĻžāĨ¤
2Intrinsic ValueāĻĒā§āϰāĻ•ā§ƒāϤ āĻŽā§‚āĻ˛ā§āϝāĻāĻ•āϟāĻŋ asset-āĻāϰ āĻšāĻŋāϏāĻžāĻŦāĻ­āĻŋāĻ¤ā§āϤāĻŋāĻ• āϏāĻŽā§āĻ­āĻžāĻŦā§āϝ āĻĒā§āϰāĻ•ā§ƒāϤ āĻŽā§‚āĻ˛ā§āϝāĨ¤
3Fair ValueāĻ¨ā§āϝāĻžāĻ¯ā§āϝ āĻŽā§‚āĻ˛ā§āϝFundamental āϤāĻĨā§āϝ⧇āϰ āĻ­āĻŋāĻ¤ā§āϤāĻŋāϤ⧇ āϝ⧁āĻ•ā§āϤāĻŋāϏāĻ™ā§āĻ—āϤ āĻŽā§‚āĻ˛ā§āϝāĨ¤
4Economic IndicatorāĻ…āĻ°ā§āĻĨāύ⧈āϤāĻŋāĻ• āϏ⧂āϚāĻ•āĻ…āĻ°ā§āĻĨāύ⧀āϤāĻŋāϰ āĻ…āĻŦāĻ¸ā§āĻĨāĻž āĻŦā§‹āĻāĻžāύ⧋āϰ āϗ⧁āϰ⧁āĻ¤ā§āĻŦāĻĒā§‚āĻ°ā§āĻŖ āĻĄā§‡āϟāĻžāĨ¤
5Economic DataāĻ…āĻ°ā§āĻĨāύ⧈āϤāĻŋāĻ• āϤāĻĨā§āϝāĻ…āĻ°ā§āĻĨāύ⧀āϤāĻŋ āϏāĻŽā§āĻĒāĻ°ā§āĻ•āĻŋāϤ āĻĒā§āϰāĻ•āĻžāĻļāĻŋāϤ āĻĒāϰāĻŋāϏāĻ‚āĻ–ā§āϝāĻžāύāĨ¤
6Economic CalendarāĻ…āĻ°ā§āĻĨāύ⧈āϤāĻŋāĻ• āĻ•ā§āϝāĻžāϞ⧇āĻ¨ā§āĻĄāĻžāϰāϗ⧁āϰ⧁āĻ¤ā§āĻŦāĻĒā§‚āĻ°ā§āĻŖ economic events āĻ“ data release-āĻāϰ āϤāĻžāϞāĻŋāĻ•āĻžāĨ¤
7MacroeconomicsāϏāĻžāĻŽāĻˇā§āϟāĻŋāĻ• āĻ…āĻ°ā§āĻĨāύ⧀āϤāĻŋāĻĒ⧁āϰ⧋ āĻ…āĻ°ā§āĻĨāύ⧀āϤāĻŋāϰ growth, inflation, employment āχāĻ¤ā§āϝāĻžāĻĻāĻŋ āĻŦāĻŋāĻļā§āϞ⧇āώāĻŖāĨ¤
8MicroeconomicsāĻ•ā§āώ⧁āĻĻā§āϰ āĻ…āĻ°ā§āĻĨāύ⧀āϤāĻŋāĻŦā§āϝāĻ•ā§āϤāĻŋ, āĻŦā§āϝāĻŦāϏāĻž āĻ“ āĻŦāĻžāϜāĻžāϰ⧇āϰ āφāϚāϰāĻŖ āĻŦāĻŋāĻļā§āϞ⧇āώāĻŖāĨ¤
9GDPāĻŽā§‹āϟ āĻĻ⧇āĻļāϜ āĻ‰ā§ŽāĻĒāĻžāĻĻāύāĻāĻ•āϟāĻŋ āĻĻ⧇āĻļ⧇āϰ āĻŽā§‹āϟ āĻ…āĻ°ā§āĻĨāύ⧈āϤāĻŋāĻ• āĻ‰ā§ŽāĻĒāĻžāĻĻāύ⧇āϰ āĻĒāϰāĻŋāĻŽāĻžāĻĒāĨ¤
10GDP GrowthGDP āĻĒā§āϰāĻŦ⧃āĻĻā§āϧāĻŋāĻ…āĻ°ā§āĻĨāύ⧀āϤāĻŋāϰ āĻ‰ā§ŽāĻĒāĻžāĻĻāύ āĻ•āϤ āĻĻā§āϰ⧁āϤ āĻŦāĻžāĻĄāĻŧāϛ⧇ āϤāĻž āύāĻŋāĻ°ā§āĻĻ⧇āĻļ āĻ•āϰ⧇āĨ¤
11Real GDPāĻĒā§āϰāĻ•ā§ƒāϤ GDPInflation-āĻāϰ āĻĒā§āϰāĻ­āĻžāĻŦ āĻŦāĻžāĻĻ āĻĻāĻŋāϝāĻŧ⧇ āĻšāĻŋāϏāĻžāĻŦ āĻ•āϰāĻž GDPāĨ¤
12Nominal GDPāύāĻžāĻŽāĻŽāĻžāĻ¤ā§āϰ GDPāĻŦāĻ°ā§āϤāĻŽāĻžāύ āĻŽā§‚āĻ˛ā§āϝ⧇ āĻšāĻŋāϏāĻžāĻŦ āĻ•āϰāĻž GDPāĨ¤
13GDP Per CapitaāĻŽāĻžāĻĨāĻžāĻĒāĻŋāϛ⧁ GDPGDP-āϕ⧇ āϜāύāϏāĻ‚āĻ–ā§āϝāĻž āĻĻāĻŋāϝāĻŧ⧇ āĻ­āĻžāĻ— āĻ•āϰāϞ⧇ āĻĒāĻžāĻ“āϝāĻŧāĻž āϝāĻžāϝāĻŧāĨ¤
14InflationāĻŽā§‚āĻ˛ā§āϝāĻ¸ā§āĻĢā§€āϤāĻŋāĻĒāĻŖā§āϝ āĻ“ āϏ⧇āĻŦāĻžāϰ āϏāĻžāϧāĻžāϰāĻŖ āĻŽā§‚āĻ˛ā§āϝāĻ¸ā§āϤāϰ āĻŦ⧃āĻĻā§āϧāĻŋāϰ āĻšāĻžāϰāĨ¤
15CPIāĻ­ā§‹āĻ•ā§āϤāĻž āĻŽā§‚āĻ˛ā§āϝ āϏ⧂āϚāĻ•Consumer goods āĻ“ services-āĻāϰ āĻŽā§‚āĻ˛ā§āϝ āĻĒāϰāĻŋāĻŦāĻ°ā§āϤāύ āĻŽāĻžāĻĒ⧇āĨ¤
16Core CPICore āĻ­ā§‹āĻ•ā§āϤāĻž āĻŽā§‚āĻ˛ā§āϝāĻ¸ā§āĻĢā§€āϤāĻŋāϏāĻžāϧāĻžāϰāĻŖāϤ āĻ–āĻžāĻĻā§āϝ āĻ“ energy āĻŦāĻžāĻĻ āĻĻāĻŋāϝāĻŧ⧇ inflation āĻŽāĻžāĻĒāĻž āĻšāϝāĻŧāĨ¤
17PPIāĻ‰ā§ŽāĻĒāĻžāĻĻāĻ• āĻŽā§‚āĻ˛ā§āϝ āϏ⧂āϚāĻ•Producer level-āĻ āĻĒāĻŖā§āϝ⧇āϰ āĻŽā§‚āĻ˛ā§āϝ āĻĒāϰāĻŋāĻŦāĻ°ā§āϤāύ āĻŽāĻžāĻĒ⧇āĨ¤
18Core PCECore PCE InflationāĻ–āĻžāĻĻā§āϝ āĻ“ energy āĻŦāĻžāĻĻ āĻĻāĻŋāϝāĻŧ⧇ consumer inflation-āĻāϰ āĻāĻ•āϟāĻŋ āϗ⧁āϰ⧁āĻ¤ā§āĻŦāĻĒā§‚āĻ°ā§āĻŖ āĻĒāϰāĻŋāĻŽāĻžāĻĒāĨ¤
19PCE Price IndexPCE āĻŽā§‚āĻ˛ā§āϝ āϏ⧂āϚāĻ•Consumer spending-āĻāϰ āĻ­āĻŋāĻ¤ā§āϤāĻŋāϤ⧇ āĻŽā§‚āĻ˛ā§āϝ āĻĒāϰāĻŋāĻŦāĻ°ā§āϤāύ āĻŽāĻžāĻĒ⧇āĨ¤
20DeflationāĻŽā§‚āĻ˛ā§āϝāĻĒāϤāύāϏāĻžāϧāĻžāϰāĻŖ āĻŽā§‚āĻ˛ā§āϝāĻ¸ā§āϤāϰ āϧāĻžāϰāĻžāĻŦāĻžāĻšāĻŋāĻ•āĻ­āĻžāĻŦ⧇ āĻ•āĻŽā§‡ āϝāĻžāĻ“āϝāĻŧāĻžāĨ¤
21DisinflationInflation āĻ•āĻŽā§‡ āφāϏāĻžāĻŽā§‚āĻ˛ā§āϝ āĻŦāĻžāĻĄāĻŧāϛ⧇, āϤāĻŦ⧇ āφāϗ⧇āϰ āϤ⧁āϞāύāĻžāϝāĻŧ āϧ⧀āϰ āĻ—āϤāĻŋāϤ⧇āĨ¤
22StagflationāĻ¸ā§āĻĨāĻŦāĻŋāϰāϤāĻž + āĻŽā§‚āĻ˛ā§āϝāĻ¸ā§āĻĢā§€āϤāĻŋLow growth-āĻāϰ āϏāĻ™ā§āϗ⧇ āωāĻšā§āϚ inflation āĻĨāĻžāĻ•āĻžāĨ¤
23EmploymentāĻ•āĻ°ā§āĻŽāϏāĻ‚āĻ¸ā§āĻĨāĻžāύāĻ…āĻ°ā§āĻĨāύ⧀āϤāĻŋāϤ⧇ āĻ•āϤ āĻŽāĻžāύ⧁āώ āĻ•āĻžāϜ āĻ•āϰāϛ⧇ āϤāĻžāϰ āĻ…āĻŦāĻ¸ā§āĻĨāĻžāĨ¤
24Unemployment RateāĻŦ⧇āĻ•āĻžāϰāĻ¤ā§āĻŦ⧇āϰ āĻšāĻžāϰāĻļā§āϰāĻŽāĻļāĻ•ā§āϤāĻŋāϰ āĻ•āϤ āĻ…āĻ‚āĻļ āĻŦ⧇āĻ•āĻžāϰ āϤāĻž āύāĻŋāĻ°ā§āĻĻ⧇āĻļ āĻ•āϰ⧇āĨ¤
25Nonfarm Payrolls (NFP)Nonfarm āϚāĻžāĻ•āϰāĻŋāĻ•ā§ƒāώāĻŋ āĻŦāĻžāĻĻ⧇ āϚāĻžāĻ•āϰāĻŋāϰ āĻĒāϰāĻŋāĻŦāĻ°ā§āϤāύ⧇āϰ āϗ⧁āϰ⧁āĻ¤ā§āĻŦāĻĒā§‚āĻ°ā§āĻŖ US dataāĨ¤
26Employment ChangeāĻ•āĻ°ā§āĻŽāϏāĻ‚āĻ¸ā§āĻĨāĻžāύ āĻĒāϰāĻŋāĻŦāĻ°ā§āϤāύāύāĻŋāĻ°ā§āĻĻāĻŋāĻˇā§āϟ āϏāĻŽāϝāĻŧ⧇ employment āĻ•āϤāϟāĻž āĻĒāϰāĻŋāĻŦāĻ°ā§āϤāĻŋāϤ āĻšāϝāĻŧ⧇āϛ⧇āĨ¤
27Jobless ClaimsāĻŦ⧇āĻ•āĻžāϰ āĻ­āĻžāϤāĻžāϰ āφāĻŦ⧇āĻĻāύāύāϤ⧁āύ unemployment benefit claims-āĻāϰ āϏāĻ‚āĻ–ā§āϝāĻžāĨ¤
28Initial Jobless ClaimsāĻĒā§āϰāĻžāĻĨāĻŽāĻŋāĻ• āĻŦ⧇āĻ•āĻžāϰ āφāĻŦ⧇āĻĻāύāύāϤ⧁āύ unemployment claims-āĻāϰ āϏāĻžāĻĒā§āϤāĻžāĻšāĻŋāĻ• āϤāĻĨā§āϝāĨ¤
29Continuing ClaimsāϚāϞāĻŽāĻžāύ āĻŦ⧇āĻ•āĻžāϰ āφāĻŦ⧇āĻĻāύāϝāĻžāϰāĻž āĻāĻ–āύāĻ“ unemployment benefits āύāĻŋāĻšā§āϛ⧇ āϤāĻžāĻĻ⧇āϰ āϏāĻ‚āĻ–ā§āϝāĻžāĨ¤
30Labor ForceāĻļā§āϰāĻŽāĻļāĻ•ā§āϤāĻŋāĻ•āĻžāϜ āĻ•āϰāϛ⧇ āĻŦāĻž āĻ•āĻžāϜ āϖ⧁āρāϜāϛ⧇ āĻāĻŽāύ āĻŽāĻžāύ⧁āώ⧇āϰ āϏāĻŽāĻˇā§āϟāĻŋāĨ¤
31Labor Force Participation RateāĻļā§āϰāĻŽāĻļāĻ•ā§āϤāĻŋāϤ⧇ āĻ…āĻ‚āĻļāĻ—ā§āϰāĻšāϪ⧇āϰ āĻšāĻžāϰāĻ•āĻ°ā§āĻŽāĻ•ā§āώāĻŽ āϜāύāϏāĻ‚āĻ–ā§āϝāĻžāϰ āĻ•āϤ āĻ…āĻ‚āĻļ labor force-āĻ āφāϛ⧇āĨ¤
32Average Hourly EarningsāĻ—āĻĄāĻŧ āϘāĻŖā§āϟāĻžāĻĒā§āϰāϤāĻŋ āφāϝāĻŧāĻ•āĻ°ā§āĻŽā§€āĻĻ⧇āϰ hourly earnings-āĻāϰ āĻĒāϰāĻŋāĻŦāĻ°ā§āϤāύāĨ¤
33Wage GrowthāĻŽāϜ⧁āϰāĻŋ āĻĒā§āϰāĻŦ⧃āĻĻā§āϧāĻŋāĻļā§āϰāĻŽāĻŋāĻ•āĻĻ⧇āϰ āφāϝāĻŧ āĻ•āϤ āĻĻā§āϰ⧁āϤ āĻŦāĻžāĻĄāĻŧāϛ⧇āĨ¤
34Retail Salesāϖ⧁āϚāϰāĻž āĻŦāĻŋāĻ•ā§āϰāϝāĻŧConsumers āĻ•āϤāϟāĻž retail spending āĻ•āϰāϛ⧇ āϤāĻžāϰ āĻĒāϰāĻŋāĻŽāĻžāĻĒāĨ¤
35Consumer SpendingāĻ­ā§‹āĻ•ā§āϤāĻž āĻŦā§āϝāϝāĻŧConsumers-āĻāϰ āĻŽā§‹āϟ spending activityāĨ¤
36Consumer ConfidenceāĻ­ā§‹āĻ•ā§āϤāĻž āφāĻ¸ā§āĻĨāĻžāĻ…āĻ°ā§āĻĨāύ⧀āϤāĻŋ āĻ“ āĻ­āĻŦāĻŋāĻˇā§āĻ¯ā§Ž āφāϝāĻŧ āϏāĻŽā§āĻĒāĻ°ā§āϕ⧇ consumers-āĻāϰ confidenceāĨ¤
37Consumer SentimentāĻ­ā§‹āĻ•ā§āϤāĻž āĻŽāύ⧋āĻ­āĻžāĻŦConsumers-āĻāϰ āĻ…āĻ°ā§āĻĨāύ⧈āϤāĻŋāĻ• outlook āĻ“ sentimentāĨ¤
38Business ConfidenceāĻŦā§āϝāĻŦāϏāĻžāϝāĻŧāĻŋāĻ• āφāĻ¸ā§āĻĨāĻžāĻŦā§āϝāĻŦāϏāĻžāϗ⧁āϞ⧋āϰ āĻ…āĻ°ā§āĻĨāύ⧈āϤāĻŋāĻ• āĻ­āĻŦāĻŋāĻˇā§āĻ¯ā§Ž āϏāĻŽā§āĻĒāĻ°ā§āϕ⧇ confidenceāĨ¤
39Manufacturing PMIManufacturing PMIManufacturing sector-āĻāϰ business activity-āĻāϰ āϏ⧂āϚāĻ•āĨ¤
40Services PMIServices PMIServices sector-āĻāϰ business activity-āĻāϰ āϏ⧂āϚāĻ•āĨ¤
41Composite PMIComposite PMIManufacturing āĻ“ Services activity āĻāĻ•āϏāĻ™ā§āϗ⧇ āĻĒāϰāĻŋāĻŽāĻžāĻĒ āĻ•āϰ⧇āĨ¤
42Purchasing Managers’ IndexāĻ•ā§āϰāϝāĻŧ āĻŦā§āϝāĻŦāĻ¸ā§āĻĨāĻžāĻĒāύāĻž āϏ⧂āϚāĻ•Business activity āĻ“ economic direction āĻŦā§‹āĻāĻžāϰ āϗ⧁āϰ⧁āĻ¤ā§āĻŦāĻĒā§‚āĻ°ā§āĻŖ indicatorāĨ¤
43Industrial ProductionāĻļāĻŋāĻ˛ā§āĻĒ āĻ‰ā§ŽāĻĒāĻžāĻĻāύāĻļāĻŋāĻ˛ā§āĻĒ āĻ–āĻžāϤ⧇ āĻ‰ā§ŽāĻĒāĻžāĻĻāύ⧇āϰ āĻĒāϰāĻŋāĻŦāĻ°ā§āϤāύāĨ¤
44Capacity UtilizationāĻ‰ā§ŽāĻĒāĻžāĻĻāύ āϏāĻ•ā§āώāĻŽāϤāĻžāϰ āĻŦā§āϝāĻŦāĻšāĻžāϰāĻŦāĻŋāĻĻā§āϝāĻŽāĻžāύ production capacity-āĻāϰ āĻ•āϤ āĻ…āĻ‚āĻļ āĻŦā§āϝāĻŦāĻšā§ƒāϤ āĻšāĻšā§āϛ⧇āĨ¤
45Factory OrdersāĻ•āĻžāϰāĻ–āĻžāύāĻž āĻ…āĻ°ā§āĻĄāĻžāϰManufacturing goods-āĻāϰ āύāϤ⧁āύ orders-āĻāϰ āĻĒāϰāĻŋāĻŽāĻžāĻŖāĨ¤
46Durable Goods OrdersāĻŸā§‡āĻ•āϏāχ āĻĒāĻŖā§āϝ⧇āϰ āĻ…āĻ°ā§āĻĄāĻžāϰāĻĻā§€āĻ°ā§āϘāĻ¸ā§āĻĨāĻžāϝāĻŧā§€ industrial goods-āĻāϰ āύāϤ⧁āύ ordersāĨ¤
47Housing StartsāύāϤ⧁āύ āĻŦāĻžāĻĄāĻŧāĻŋ āύāĻŋāĻ°ā§āĻŽāĻžāĻŖ āĻļ⧁āϰ⧁āύāϤ⧁āύ residential construction āĻ•āϤāϟāĻž āĻļ⧁āϰ⧁ āĻšāϝāĻŧ⧇āϛ⧇āĨ¤
48Building PermitsāύāĻŋāĻ°ā§āĻŽāĻžāĻŖ āĻ…āύ⧁āĻŽāϤāĻŋāĻ­āĻŦāĻŋāĻˇā§āĻ¯ā§Ž housing construction-āĻāϰ āϜāĻ¨ā§āϝ āĻ…āύ⧁āĻŽā§‹āĻĻāĻŋāϤ permitsāĨ¤
49Existing Home SalesāĻŦāĻŋāĻĻā§āϝāĻŽāĻžāύ āĻŦāĻžāĻĄāĻŧāĻŋ āĻŦāĻŋāĻ•ā§āϰāĻŋāφāϗ⧇ āύāĻŋāĻ°ā§āĻŽāĻŋāϤ āĻŦāĻžāĻĄāĻŧāĻŋāϰ sales activityāĨ¤
50New Home SalesāύāϤ⧁āύ āĻŦāĻžāĻĄāĻŧāĻŋ āĻŦāĻŋāĻ•ā§āϰāĻŋāύāϤ⧁āύ āύāĻŋāĻ°ā§āĻŽāĻŋāϤ āĻŦāĻžāĻĄāĻŧāĻŋāϰ sales activityāĨ¤
51Central Bankāϕ⧇āĻ¨ā§āĻĻā§āϰ⧀āϝāĻŧ āĻŦā§āϝāĻžāĻ‚āĻ•āĻĻ⧇āĻļ⧇āϰ monetary policy āĻĒāϰāĻŋāϚāĻžāϞāύāĻž āĻ•āϰ⧇āĨ¤
52Federal Reserve (Fed)US āϕ⧇āĻ¨ā§āĻĻā§āϰ⧀āϝāĻŧ āĻŦā§āϝāĻžāĻ‚āĻ•United States-āĻāϰ central bankāĨ¤
53European Central Bank (ECB)āχāωāϰ⧋āĻĒā§€āϝāĻŧ āϕ⧇āĻ¨ā§āĻĻā§āϰ⧀āϝāĻŧ āĻŦā§āϝāĻžāĻ‚āĻ•Eurozone-āĻāϰ monetary policy āĻĒāϰāĻŋāϚāĻžāϞāύāĻž āĻ•āϰ⧇āĨ¤
54Bank of England (BoE)āϝ⧁āĻ•ā§āϤāϰāĻžāĻœā§āϝ⧇āϰ āϕ⧇āĻ¨ā§āĻĻā§āϰ⧀āϝāĻŧ āĻŦā§āϝāĻžāĻ‚āĻ•UK monetary policy āĻĒāϰāĻŋāϚāĻžāϞāύāĻž āĻ•āϰ⧇āĨ¤
55Bank of Japan (BoJ)āϜāĻžāĻĒāĻžāύ⧇āϰ āϕ⧇āĻ¨ā§āĻĻā§āϰ⧀āϝāĻŧ āĻŦā§āϝāĻžāĻ‚āĻ•Japan-āĻāϰ monetary policy āĻĒāϰāĻŋāϚāĻžāϞāύāĻž āĻ•āϰ⧇āĨ¤
56Reserve Bank of Australia (RBA)āĻ…āĻ¸ā§āĻŸā§āϰ⧇āϞāĻŋāϝāĻŧāĻžāϰ āϕ⧇āĻ¨ā§āĻĻā§āϰ⧀āϝāĻŧ āĻŦā§āϝāĻžāĻ‚āĻ•Australia-āĻāϰ monetary policy āĻĒāϰāĻŋāϚāĻžāϞāύāĻž āĻ•āϰ⧇āĨ¤
57Reserve Bank of New Zealand (RBNZ)āύāĻŋāωāϜāĻŋāĻ˛ā§āϝāĻžāĻ¨ā§āĻĄā§‡āϰ āϕ⧇āĻ¨ā§āĻĻā§āϰ⧀āϝāĻŧ āĻŦā§āϝāĻžāĻ‚āĻ•New Zealand-āĻāϰ monetary policy āĻĒāϰāĻŋāϚāĻžāϞāύāĻž āĻ•āϰ⧇āĨ¤
58Policy Rateāύ⧀āϤāĻŋāĻ—āϤ āϏ⧁āĻĻ⧇āϰ āĻšāĻžāϰCentral bank-āĻāϰ āĻĒā§āϰāϧāĻžāύ interest rateāĨ¤
59Interest RateāϏ⧁āĻĻ⧇āϰ āĻšāĻžāϰāĻ…āĻ°ā§āĻĨ āϧāĻžāϰ āύ⧇āĻ“āϝāĻŧāĻž āĻŦāĻž āϰāĻžāĻ–āĻžāϰ cost/returnāĨ¤
60Rate HikeāϏ⧁āĻĻ⧇āϰ āĻšāĻžāϰ āĻŦ⧃āĻĻā§āϧāĻŋCentral bank policy rate āĻŦāĻžāĻĄāĻŧāĻžāύ⧋āĨ¤
61Rate CutāϏ⧁āĻĻ⧇āϰ āĻšāĻžāϰ āĻ•āĻŽāĻžāύ⧋Policy rate āĻ•āĻŽāĻžāύ⧋āĨ¤
62Rate HoldāϏ⧁āĻĻ⧇āϰ āĻšāĻžāϰ āĻ…āĻĒāϰāĻŋāĻŦāĻ°ā§āϤāĻŋāϤCentral bank rate āĻĒāϰāĻŋāĻŦāĻ°ā§āϤāύ āύāĻž āĻ•āϰāĻžāĨ¤
63Monetary PolicyāĻŽā§āĻĻā§āϰāĻžāύ⧀āϤāĻŋInterest rate āĻ“ money supply āĻĻāĻŋāϝāĻŧ⧇ āĻ…āĻ°ā§āĻĨāύ⧀āϤāĻŋ āĻĒāϰāĻŋāϚāĻžāϞāύāĻžāĨ¤
64Tight Monetary PolicyāĻ•āĻ ā§‹āϰ āĻŽā§āĻĻā§āϰāĻžāύ⧀āϤāĻŋInflation āĻ•āĻŽāĻžāϤ⧇ policy āĻ•āĻ ā§‹āϰ āĻ•āϰāĻžāĨ¤
65Loose Monetary PolicyāĻļāĻŋāĻĨāĻŋāϞ āĻŽā§āĻĻā§āϰāĻžāύ⧀āϤāĻŋGrowth support āĻ•āϰāϤ⧇ policy āϏāĻšāϜ āĻ•āϰāĻžāĨ¤
66HawkishāĻ•āĻ ā§‹āϰ āύ⧀āϤāĻŋāϰ āχāĻ™ā§āĻ—āĻŋāϤInflation āύāĻŋāϝāĻŧāĻ¨ā§āĻ¤ā§āϰāϪ⧇ higher rates-āĻāϰ āĻĒāĻ•ā§āώ⧇ āĻ…āĻŦāĻ¸ā§āĻĨāĻžāύāĨ¤
67DovishāĻļāĻŋāĻĨāĻŋāϞ āύ⧀āϤāĻŋāϰ āχāĻ™ā§āĻ—āĻŋāϤGrowth support āĻ“ lower rates-āĻāϰ āĻĻāĻŋāϕ⧇ āĻā§‹āρāĻ•āĨ¤
68Hawkish BiasHawkish āĻĒā§āϰāĻŦāĻŖāϤāĻžāĻ­āĻŦāĻŋāĻˇā§āϝāϤ⧇ policy tightening-āĻāϰ āϏāĻŽā§āĻ­āĻžāĻŦāύāĻž āĻŦ⧇āĻļāĻŋāĨ¤
69Dovish BiasDovish āĻĒā§āϰāĻŦāĻŖāϤāĻžFuture easing-āĻāϰ āϏāĻŽā§āĻ­āĻžāĻŦāύāĻž āĻŦ⧇āĻļāĻŋāĨ¤
70Monetary Policy StatementāĻŽā§āĻĻā§āϰāĻžāύ⧀āϤāĻŋ āĻŦāĻŋāĻŦ⧃āϤāĻŋCentral bank-āĻāϰ policy decision āĻ“ outlookāĨ¤
71FOMCFederal Open Market CommitteeFed-āĻāϰ monetary policy āϏāĻŋāĻĻā§āϧāĻžāĻ¨ā§āϤ āύ⧇āĻ“āϝāĻŧāĻž āĻ•āĻŽāĻŋāϟāĻŋāĨ¤
72FOMC MeetingFOMC āϏāĻ­āĻžFed policy decision-āĻāϰ āϗ⧁āϰ⧁āĻ¤ā§āĻŦāĻĒā§‚āĻ°ā§āĻŖ meetingāĨ¤
73FOMC MinutesāϏāĻ­āĻžāϰ āĻ•āĻžāĻ°ā§āϝāĻŦāĻŋāĻŦāϰāĻŖā§€FOMC meeting-āĻ āφāϞ⧋āϚāύāĻžāϰ āĻŦāĻŋāĻ¸ā§āϤāĻžāϰāĻŋāϤ recordāĨ¤
74Fed Funds RateFed-āĻāϰ policy rateUS monetary policy-āĻāϰ āĻĒā§āϰāϧāĻžāύ benchmark rateāĨ¤
75ECB Deposit Facility RateECB deposit rateECB-āĻāϰ āĻāĻ•āϟāĻŋ āϗ⧁āϰ⧁āĻ¤ā§āĻŦāĻĒā§‚āĻ°ā§āĻŖ policy rateāĨ¤
76Quantitative Easing (QE)āĻ…āĻ°ā§āĻĨāύ⧈āϤāĻŋāĻ• āωāĻĻā§āĻĻā§€āĻĒāύāĻžCentral bank asset purchase-āĻāϰ āĻŽāĻžāĻ§ā§āϝāĻŽā§‡ liquidity āĻŦāĻžāĻĄāĻŧāĻžāϝāĻŧāĨ¤
77Quantitative Tightening (QT)liquidity āĻ•āĻŽāĻžāύ⧋Central bank balance sheet āĻ•āĻŽāĻžāύ⧋āϰ policyāĨ¤
78Open Market OperationsāĻŦāĻžāϜāĻžāϰ⧇ central bank āĻ•āĻžāĻ°ā§āϝāĻ•ā§āϰāĻŽSecurities āϕ⧇āύāĻž-āĻŦ⧇āϚāĻžāϰ āĻŽāĻžāĻ§ā§āϝāĻŽā§‡ liquidity āĻĒāϰāĻŋāϚāĻžāϞāύāĻžāĨ¤
79Money SupplyāĻ…āĻ°ā§āĻĨ āϏāϰāĻŦāϰāĻžāĻšāĻ…āĻ°ā§āĻĨāύ⧀āϤāĻŋāϤ⧇ circulating money-āĻāϰ āĻĒāϰāĻŋāĻŽāĻžāĻŖāĨ¤
80LiquidityāĻŦāĻžāϜāĻžāϰ⧇āϰ āϤāĻžāϰāĻ˛ā§āϝāĻ•āϤ āϏāĻšāĻœā§‡ āĻ…āĻ°ā§āĻĨ āĻŦāĻž asset āϞ⧇āύāĻĻ⧇āύ āĻ•āϰāĻž āϝāĻžāϝāĻŧāĨ¤
81Bank RateāĻŦā§āϝāĻžāĻ‚āĻ• āϏ⧁āĻĻ⧇āϰ āĻšāĻžāϰCentral bank-āĻāϰ lending-related benchmark rateāĨ¤
82Discount RateDiscount lending rateCentral bank-āĻāϰ āύāĻŋāĻ°ā§āĻĻāĻŋāĻˇā§āϟ lending rateāĨ¤
83Real Interest RateāĻĒā§āϰāĻ•ā§ƒāϤ āϏ⧁āĻĻ⧇āϰ āĻšāĻžāϰInflation āϏāĻŽāĻ¨ā§āĻŦāϝāĻŧ⧇āϰ āĻĒāϰ interest rateāĨ¤
84Nominal Interest RateāύāĻžāĻŽāĻŽāĻžāĻ¤ā§āϰ āϏ⧁āĻĻ⧇āϰ āĻšāĻžāϰInflation adjustment āĻ›āĻžāĻĄāĻŧāĻž āĻ˜ā§‹āώāĻŋāϤ rateāĨ¤
85Interest Rate DifferentialāϏ⧁āĻĻ⧇āϰ āĻšāĻžāϰ⧇āϰ āĻĒāĻžāĻ°ā§āĻĨāĻ•ā§āϝāĻĻ⧁āχ āĻĻ⧇āĻļ⧇āϰ interest rate-āĻāϰ differenceāĨ¤
86YieldāĻĢāϞāύBond āĻŦāĻž investment āĻĨ⧇āϕ⧇ expected/actual returnāĨ¤
87Bond YieldāĻŦāĻ¨ā§āĻĄā§‡āϰ āĻĢāϞāύBond investment-āĻāϰ yieldāĨ¤
88Treasury YieldāϏāϰāĻ•āĻžāϰāĻŋ āĻŦāĻ¨ā§āĻĄā§‡āϰ yieldGovernment Treasury securities-āĻāϰ yieldāĨ¤
89Yield CurveāĻŦāĻŋāĻ­āĻŋāĻ¨ā§āύ maturity-āĻāϰ yieldāĻŦāĻŋāĻ­āĻŋāĻ¨ā§āύ maturity-āĻāϰ interest rates-āĻāϰ relationshipāĨ¤
90Yield Curve InversionāωāĻ˛ā§āĻŸā§‹ yield curveShort-term yield long-term yield-āĻāϰ āĻšā§‡āϝāĻŧ⧇ āĻŦ⧇āĻļāĻŋ āĻšāĻ“āϝāĻŧāĻžāĨ¤
91Yield Spreadyield āĻĒāĻžāĻ°ā§āĻĨāĻ•ā§āϝāĻĻ⧁āχ bond āĻŦāĻž maturity-āĻāϰ yield differenceāĨ¤
92Real YieldāĻĒā§āϰāĻ•ā§ƒāϤ bond yieldInflation-adjusted yieldāĨ¤
93Bond PriceāĻŦāĻ¨ā§āĻĄā§‡āϰ āĻŽā§‚āĻ˛ā§āϝBond market-āĻ traded priceāĨ¤
94Treasury BondāϏāϰāĻ•āĻžāϰāĻŋ āĻŦāĻ¨ā§āĻĄGovernment-issued debt securityāĨ¤
95Treasury BillāĻ¸ā§āĻŦāĻ˛ā§āĻĒāĻŽā§‡āϝāĻŧāĻžāĻĻāĻŋ āϏāϰāĻ•āĻžāϰāĻŋ āĻ‹āĻŖāĻĒāĻ¤ā§āϰShort-term government securityāĨ¤
96Treasury NoteāĻŽāĻ§ā§āϝāĻŽā§‡āϝāĻŧāĻžāĻĻāĻŋ āϏāϰāĻ•āĻžāϰāĻŋ āĻŦāĻ¨ā§āĻĄāύāĻŋāĻ°ā§āĻĻāĻŋāĻˇā§āϟ maturity-āĻāϰ government debtāĨ¤
97Sovereign DebtāϏāϰāĻ•āĻžāϰāĻŋ āĻ‹āĻŖāĻāĻ•āϟāĻŋ āĻĻ⧇āĻļ⧇āϰ government debtāĨ¤
98Credit RatingāĻ‹āĻŖāĻŽāĻžāύBorrower-āĻāϰ debt repayment ability-āĻāϰ ratingāĨ¤
99Credit SpreadāĻ‹āĻŖ āĻā§āρāĻ•āĻŋāϰ spreadDifferent credit quality-āĻāϰ bond yield differenceāĨ¤
100Default RiskāĻ‹āĻŖ āĻĒāϰāĻŋāĻļā§‹āϧ āĻā§āρāĻ•āĻŋBorrower debt repayment āĻ•āϰāϤ⧇ āĻŦā§āϝāĻ°ā§āĻĨ āĻšāĻ“āϝāĻŧāĻžāϰ āϏāĻŽā§āĻ­āĻžāĻŦāύāĻžāĨ¤
101Fiscal PolicyāϰāĻžāϜāĻ¸ā§āĻŦ āύ⧀āϤāĻŋāϏāϰāĻ•āĻžāϰ taxation āĻ“ spending-āĻāϰ āĻŽāĻžāĻ§ā§āϝāĻŽā§‡ āĻ…āĻ°ā§āĻĨāύ⧀āϤāĻŋ āĻĒāϰāĻŋāϚāĻžāϞāύāĻž āĻ•āϰ⧇āĨ¤
102Government SpendingāϏāϰāĻ•āĻžāϰāĻŋ āĻŦā§āϝāϝāĻŧāϏāϰāĻ•āĻžāϰ āĻŦāĻŋāĻ­āĻŋāĻ¨ā§āύ āĻ–āĻžāϤ⧇ āϝ⧇ āĻ…āĻ°ā§āĻĨ āĻŦā§āϝāϝāĻŧ āĻ•āϰ⧇āĨ¤
103Government RevenueāϏāϰāĻ•āĻžāϰāĻŋ āϰāĻžāϜāĻ¸ā§āĻŦāϏāϰāĻ•āĻžāϰ tax āĻ“ āĻ…āĻ¨ā§āϝāĻžāĻ¨ā§āϝ āĻ‰ā§ŽāϏ āĻĨ⧇āϕ⧇ āϝ⧇ āĻ…āĻ°ā§āĻĨ āĻĒāĻžāϝāĻŧāĨ¤
104Government BudgetāϏāϰāĻ•āĻžāϰāĻŋ āĻŦāĻžāĻœā§‡āϟāϏāϰāĻ•āĻžāϰ⧇āϰ expected income āĻ“ expenditure-āĻāϰ āĻĒāϰāĻŋāĻ•āĻ˛ā§āĻĒāύāĻžāĨ¤
105Budget DeficitāĻŦāĻžāĻœā§‡āϟ āϘāĻžāϟāϤāĻŋāϏāϰāĻ•āĻžāϰ⧇āϰ āĻŦā§āϝāϝāĻŧ āφāϝāĻŧ⧇āϰ āĻšā§‡āϝāĻŧ⧇ āĻŦ⧇āĻļāĻŋ āĻšāϞ⧇āĨ¤
106Budget SurplusāĻŦāĻžāĻœā§‡āϟ āωāĻĻā§āĻŦ⧃āĻ¤ā§āϤāϏāϰāĻ•āĻžāϰ⧇āϰ āφāϝāĻŧ āĻŦā§āϝāϝāĻŧ⧇āϰ āĻšā§‡āϝāĻŧ⧇ āĻŦ⧇āĻļāĻŋ āĻšāϞ⧇āĨ¤
107Fiscal DeficitāϰāĻžāϜāĻ¸ā§āĻŦ āϘāĻžāϟāϤāĻŋāϏāϰāĻ•āĻžāϰ⧇āϰ āĻŽā§‹āϟ expenditure āĻ“ revenue-āĻāϰ āϘāĻžāϟāϤāĻŋāĨ¤
108Public DebtāϏāϰāĻ•āĻžāϰāĻŋ āĻ‹āĻŖāϏāϰāĻ•āĻžāϰ⧇āϰ āĻŽā§‹āϟ outstanding debtāĨ¤
109Debt-to-GDP RatioāĻ‹āĻŖ āĻŦāύāĻžāĻŽ GDPāĻĻ⧇āĻļ⧇āϰ debt āĻ…āĻ°ā§āĻĨāύ⧀āϤāĻŋāϰ āφāĻ•āĻžāϰ⧇āϰ āϤ⧁āϞāύāĻžāϝāĻŧ āĻ•āϤ āĻŦāĻĄāĻŧ āϤāĻž āĻŦā§‹āĻāĻžāϝāĻŧāĨ¤
110Tax RevenueāĻ•āϰ āϰāĻžāϜāĻ¸ā§āĻŦāϏāϰāĻ•āĻžāϰ taxation āĻĨ⧇āϕ⧇ āϝ⧇ revenue āϏāĻ‚āĻ—ā§āϰāĻš āĻ•āϰ⧇āĨ¤
111Corporate TaxāĻ•āĻ°ā§āĻĒā§‹āϰ⧇āϟ āĻ•āϰāϕ⧋āĻŽā§āĻĒāĻžāύāĻŋāϰ profit-āĻāϰ āĻ“āĻĒāϰ āφāϰ⧋āĻĒāĻŋāϤ taxāĨ¤
112Income TaxāφāϝāĻŧāĻ•āϰāĻŦā§āϝāĻ•ā§āϤāĻŋ āĻŦāĻž āĻĒā§āϰāϤāĻŋāĻˇā§āĻ āĻžāύ⧇āϰ income-āĻāϰ āĻ“āĻĒāϰ taxāĨ¤
113Fiscal StimulusāĻ…āĻ°ā§āĻĨāύ⧈āϤāĻŋāĻ• āĻĒā§āϰāĻŖā§‹āĻĻāύāĻžGrowth āĻŦāĻžāĻĄāĻŧāĻžāϤ⧇ government spending āĻŦāĻž tax relief āĻŦ⧃āĻĻā§āϧāĻŋāĨ¤
114Fiscal TighteningāϰāĻžāϜāĻ¸ā§āĻŦ āύ⧀āϤāĻŋ āĻ•āĻ ā§‹āϰ āĻ•āϰāĻžDeficit āĻŦāĻž inflation āĻ•āĻŽāĻžāϤ⧇ government spending āĻ•āĻŽāĻžāύ⧋ āĻŦāĻž tax āĻŦāĻžāĻĄāĻŧāĻžāύ⧋āĨ¤
115Government ShutdownāϏāϰāĻ•āĻžāϰāĻŋ āĻ•āĻžāĻ°ā§āϝāĻ•ā§āϰāĻŽ āĻŦāĻ¨ā§āϧBudget āĻŦāĻž funding āύāĻŋāϝāĻŧ⧇ āĻ…āϚāϞāĻžāĻŦāĻ¸ā§āĻĨāĻžāϝāĻŧ āĻ•āĻŋāϛ⧁ āϏāϰāĻ•āĻžāϰāĻŋ āĻ•āĻžāĻ°ā§āϝāĻ•ā§āϰāĻŽ āϏāĻžāĻŽāϝāĻŧāĻŋāĻ• āĻŦāĻ¨ā§āϧ āĻšāĻ“āϝāĻŧāĻžāĨ¤
116Economic GrowthāĻ…āĻ°ā§āĻĨāύ⧈āϤāĻŋāĻ• āĻĒā§āϰāĻŦ⧃āĻĻā§āϧāĻŋāĻāĻ•āϟāĻŋ āĻ…āĻ°ā§āĻĨāύ⧀āϤāĻŋāϰ āĻ‰ā§ŽāĻĒāĻžāĻĻāύ āĻ“ income āĻŦ⧃āĻĻā§āϧāĻŋāĨ¤
117Economic SlowdownāĻ…āĻ°ā§āĻĨāύ⧈āϤāĻŋāĻ• āĻŽāĻ¨ā§āĻĨāϰāϤāĻžEconomic growth-āĻāϰ āĻ—āϤāĻŋ āĻ•āĻŽā§‡ āϝāĻžāĻ“āϝāĻŧāĻžāĨ¤
118RecessionāĻ…āĻ°ā§āĻĨāύ⧈āϤāĻŋāĻ• āĻŽāĻ¨ā§āĻĻāĻžāĻ…āĻ°ā§āĻĨāύ⧈āϤāĻŋāĻ• activity āωāĻ˛ā§āϞ⧇āĻ–āϝ⧋āĻ—ā§āϝāĻ­āĻžāĻŦ⧇ āĻĻ⧁āĻ°ā§āĻŦāϞ āĻšāĻ“āϝāĻŧāĻžāĨ¤
119DepressionāĻ—āĻ­ā§€āϰ āĻ…āĻ°ā§āĻĨāύ⧈āϤāĻŋāĻ• āĻŽāĻ¨ā§āĻĻāĻžāĻĻā§€āĻ°ā§āϘāĻ¸ā§āĻĨāĻžāϝāĻŧā§€ āĻ“ āĻ…āĻ¤ā§āϝāĻ¨ā§āϤ āϗ⧁āϰ⧁āϤāϰ economic contractionāĨ¤
120ExpansionāĻ…āĻ°ā§āĻĨāύ⧈āϤāĻŋāĻ• āϏāĻŽā§āĻĒā§āϰāϏāĻžāϰāĻŖEconomic activity āϧāĻžāϰāĻžāĻŦāĻžāĻšāĻŋāĻ•āĻ­āĻžāĻŦ⧇ āĻŦ⧃āĻĻā§āϧāĻŋ āĻĒāĻžāĻ“āϝāĻŧāĻžāĨ¤
121Economic CycleāĻ…āĻ°ā§āĻĨāύ⧈āϤāĻŋāĻ• āϚāĻ•ā§āϰExpansion āĻ“ contraction-āĻāϰ āĻĒ⧁āύāϰāĻžāĻŦ⧃āĻ¤ā§āϤāĻŋāĻļā§€āϞ cycleāĨ¤
122Business CycleāĻŦā§āϝāĻŦāϏāĻžāϝāĻŧāĻŋāĻ• āϚāĻ•ā§āϰBusiness activity-āĻāϰ expansion āĻ“ slowdown-āĻāϰ cycleāĨ¤
123ProductivityāĻ‰ā§ŽāĻĒāĻžāĻĻāύāĻļā§€āϞāϤāĻžāύāĻŋāĻ°ā§āĻĻāĻŋāĻˇā§āϟ input āĻĨ⧇āϕ⧇ āĻ•āϤ output āϤ⧈āϰāĻŋ āĻšāĻšā§āϛ⧇āĨ¤
124Labor ProductivityāĻļā§āϰāĻŽ āĻ‰ā§ŽāĻĒāĻžāĻĻāύāĻļā§€āϞāϤāĻžāĻĒā§āϰāϤāĻŋ āĻļā§āϰāĻŽāϘāĻŖā§āϟāĻžāϝāĻŧ āĻ‰ā§ŽāĻĒāĻžāĻĻāύ⧇āϰ āĻĒāϰāĻŋāĻŽāĻžāĻŖāĨ¤
125Consumer DemandāĻ­ā§‹āĻ•ā§āϤāĻž āϚāĻžāĻšāĻŋāĻĻāĻžConsumers āĻ•āϤ āĻĒāĻŖā§āϝ āĻ“ service āĻ•āĻŋāύāϤ⧇ āϚāĻžāϝāĻŧāĨ¤
126Aggregate DemandāϏāĻžāĻŽāĻ—ā§āϰāĻŋāĻ• āϚāĻžāĻšāĻŋāĻĻāĻžāĻ…āĻ°ā§āĻĨāύ⧀āϤāĻŋāϤ⧇ āĻŽā§‹āϟ goods āĻ“ services-āĻāϰ demandāĨ¤
127Aggregate SupplyāϏāĻžāĻŽāĻ—ā§āϰāĻŋāĻ• āϏāϰāĻŦāϰāĻžāĻšāĻ…āĻ°ā§āĻĨāύ⧀āϤāĻŋāϤ⧇ āĻŽā§‹āϟ goods āĻ“ services-āĻāϰ supplyāĨ¤
128Output GapāĻ‰ā§ŽāĻĒāĻžāĻĻāύ āĻŦā§āϝāĻŦāϧāĻžāύActual output āĻ“ potential output-āĻāϰ āĻĒāĻžāĻ°ā§āĻĨāĻ•ā§āϝāĨ¤
129Potential GDPāϏāĻŽā§āĻ­āĻžāĻŦā§āϝ GDPāĻ…āĻ°ā§āĻĨāύ⧀āϤāĻŋ āĻ¸ā§āĻŦāĻžāĻ­āĻžāĻŦāĻŋāĻ• āϏāĻ•ā§āώāĻŽāϤāĻžāϝāĻŧ āϝ⧇ GDP āĻ‰ā§ŽāĻĒāĻžāĻĻāύ āĻ•āϰāϤ⧇ āĻĒāĻžāϰ⧇āĨ¤
130Economic OutlookāĻ…āĻ°ā§āĻĨāύ⧈āϤāĻŋāĻ• āĻĒā§‚āĻ°ā§āĻŦāĻžāĻ­āĻžāϏāĻ­āĻŦāĻŋāĻˇā§āĻ¯ā§Ž āĻ…āĻ°ā§āĻĨāύ⧈āϤāĻŋāĻ• āĻ…āĻŦāĻ¸ā§āĻĨāĻžāϰ āϏāĻŽā§āĻ­āĻžāĻŦā§āϝ āϚāĻŋāĻ¤ā§āϰāĨ¤
131Leading IndicatorāĻ…āĻ—ā§āϰāĻŦāĻ°ā§āϤ⧀ āϏ⧂āϚāĻ•āĻ­āĻŦāĻŋāĻˇā§āĻ¯ā§Ž economic activity-āĻāϰ āϏāĻŽā§āĻ­āĻžāĻŦā§āϝ āĻĻāĻŋāĻ• āφāϗ⧇ āύāĻŋāĻ°ā§āĻĻ⧇āĻļ āĻ•āϰ⧇āĨ¤
132Lagging IndicatorāĻĒāĻļā§āϚāĻžā§ŽāĻ—āĻžāĻŽā§€ āϏ⧂āϚāĻ•āĻ…āĻ°ā§āĻĨāύ⧀āϤāĻŋāϰ āĻĒāϰāĻŋāĻŦāĻ°ā§āϤāύ⧇āϰ āĻĒāϰ⧇ āĻĒāϰāĻŋāĻŦāĻ°ā§āϤāĻŋāϤ āĻšāϝāĻŧāĨ¤
133Coincident IndicatorāϏāĻŽāĻ•āĻžāϞ⧀āύ āϏ⧂āϚāĻ•āĻŦāĻ°ā§āϤāĻŽāĻžāύ economic condition-āĻāϰ āϏāĻ™ā§āϗ⧇ āĻĒā§āϰāĻžāϝāĻŧ āĻāĻ•āχ āϏāĻŽāϝāĻŧ⧇ āĻĒāϰāĻŋāĻŦāĻ°ā§āϤāĻŋāϤ āĻšāϝāĻŧāĨ¤
134Purchasing PowerāĻ•ā§āϰāϝāĻŧāĻ•ā§āώāĻŽāϤāĻžāĻāĻ•āχ āĻ…āĻ°ā§āĻĨ āĻĻāĻŋāϝāĻŧ⧇ āĻ•āϤ goods/services āϕ⧇āύāĻž āϝāĻžāϝāĻŧāĨ¤
135Cost of LivingāĻœā§€āĻŦāύāϝāĻžāĻ¤ā§āϰāĻžāϰ āĻŦā§āϝāϝāĻŧāĻĻ⧈āύāĻ¨ā§āĻĻāĻŋāύ āĻœā§€āĻŦāύ āĻĒāϰāĻŋāϚāĻžāϞāύāĻžāϰ āϜāĻ¨ā§āϝ āĻĒā§āϰāϝāĻŧā§‹āϜāύ⧀āϝāĻŧ āĻŦā§āϝāϝāĻŧ⧇āϰ āĻŽāĻžāĻ¤ā§āϰāĻžāĨ¤
136Trade BalanceāĻŦāĻžāĻŖāĻŋāĻœā§āϝ āĻ­āĻžāϰāϏāĻžāĻŽā§āϝExports āĻ“ imports-āĻāϰ āĻĒāĻžāĻ°ā§āĻĨāĻ•ā§āϝāĨ¤
137Trade SurplusāĻŦāĻžāĻŖāĻŋāĻœā§āϝ āωāĻĻā§āĻŦ⧃āĻ¤ā§āϤExports imports-āĻāϰ āĻšā§‡āϝāĻŧ⧇ āĻŦ⧇āĻļāĻŋ āĻšāϞ⧇āĨ¤
138Trade DeficitāĻŦāĻžāĻŖāĻŋāĻœā§āϝ āϘāĻžāϟāϤāĻŋImports exports-āĻāϰ āĻšā§‡āϝāĻŧ⧇ āĻŦ⧇āĻļāĻŋ āĻšāϞ⧇āĨ¤
139ExportsāϰāĻĒā§āϤāĻžāύāĻŋāĻ…āĻ¨ā§āϝ āĻĻ⧇āĻļ⧇ goods/services āĻŦāĻŋāĻ•ā§āϰāĻŋāĨ¤
140ImportsāφāĻŽāĻĻāĻžāύāĻŋāĻ…āĻ¨ā§āϝ āĻĻ⧇āĻļ āĻĨ⧇āϕ⧇ goods/services āϕ⧇āύāĻžāĨ¤
141Current AccountāϚāϞāϤāĻŋ āĻšāĻŋāϏāĻžāĻŦTrade, income āĻ“ transfer-āĻāϰ āφāĻ¨ā§āϤāĻ°ā§āϜāĻžāϤāĻŋāĻ• āϞ⧇āύāĻĻ⧇āύ⧇āϰ āĻšāĻŋāϏāĻžāĻŦāĨ¤
142Current Account DeficitāϚāϞāϤāĻŋ āĻšāĻŋāϏāĻžāĻŦ āϘāĻžāϟāϤāĻŋCurrent account-āĻ net outflow āĻŦ⧇āĻļāĻŋ āĻšāϞ⧇āĨ¤
143Current Account SurplusāϚāϞāϤāĻŋ āĻšāĻŋāϏāĻžāĻŦ āωāĻĻā§āĻŦ⧃āĻ¤ā§āϤCurrent account-āĻ net inflow āĻŦ⧇āĻļāĻŋ āĻšāϞ⧇āĨ¤
144Balance of Payments (BoP)āĻŦ⧈āĻĻ⧇āĻļāĻŋāĻ• āϞ⧇āύāĻĻ⧇āύ⧇āϰ āĻ­āĻžāϰāϏāĻžāĻŽā§āϝāĻāĻ•āϟāĻŋ āĻĻ⧇āĻļ⧇āϰ āφāĻ¨ā§āϤāĻ°ā§āϜāĻžāϤāĻŋāĻ• financial transactions-āĻāϰ āϏāĻžāĻŽāĻ—ā§āϰāĻŋāĻ• āĻšāĻŋāϏāĻžāĻŦāĨ¤
145Capital FlowāĻŽā§‚āϞāϧāύ āĻĒā§āϰāĻŦāĻžāĻšāĻāĻ• āĻĻ⧇āĻļ āĻĨ⧇āϕ⧇ āĻ…āĻ¨ā§āϝ āĻĻ⧇āĻļ⧇ investment capital-āĻāϰ movementāĨ¤
146Foreign Direct Investment (FDI)āϏāϰāĻžāϏāϰāĻŋ āĻŦāĻŋāĻĻ⧇āĻļāĻŋ āĻŦāĻŋāύāĻŋāϝāĻŧā§‹āĻ—āĻŦāĻŋāĻĻ⧇āĻļāĻŋ āĻŦā§āϝāĻ•ā§āϤāĻŋ/āĻĒā§āϰāϤāĻŋāĻˇā§āĻ āĻžāύ⧇āϰ āĻĻā§€āĻ°ā§āϘāĻŽā§‡āϝāĻŧāĻžāĻĻāĻŋ business investmentāĨ¤
147Foreign Portfolio Investment (FPI)āĻŦāĻŋāĻĻ⧇āĻļāĻŋ āĻĒā§‹āĻ°ā§āϟāĻĢā§‹āϞāĻŋāĻ“ āĻŦāĻŋāύāĻŋāϝāĻŧā§‹āĻ—āĻŦāĻŋāĻĻ⧇āĻļāĻŋ investor-āĻāϰ stocks, bonds āχāĻ¤ā§āϝāĻžāĻĻāĻŋāϤ⧇ investmentāĨ¤
148Foreign Exchange ReservesāĻŦ⧈āĻĻ⧇āĻļāĻŋāĻ• āĻŽā§āĻĻā§āϰāĻžāϰ āϰāĻŋāϜāĻžāĻ°ā§āĻ­Central bank-āĻāϰ āĻšāĻžāϤ⧇ āĻĨāĻžāĻ•āĻž foreign currencies āĻ“ reserve assetsāĨ¤
149Currency InterventionāĻŽā§āĻĻā§āϰāĻžāĻŦāĻžāϜāĻžāϰ⧇ āĻšāĻ¸ā§āϤāĻ•ā§āώ⧇āĻĒCurrency value āĻĒā§āϰāĻ­āĻžāĻŦāĻŋāϤ āĻ•āϰāϤ⧇ central bank-āĻāϰ market interventionāĨ¤
150Capital FlightāĻŽā§‚āϞāϧāύ āĻŦāĻšāĻŋāĻ°ā§āĻ—āĻŽāύāϕ⧋āύ⧋ āĻĻ⧇āĻļ āĻĨ⧇āϕ⧇ āĻĻā§āϰ⧁āϤ āĻ“ āĻŦāĻĄāĻŧ āĻĒāϰāĻŋāĻŽāĻžāϪ⧇ capital āĻŦ⧇āϰāĻŋāϝāĻŧ⧇ āϝāĻžāĻ“āϝāĻŧāĻžāĨ¤
151RevenueāĻŽā§‹āϟ āĻŦāĻŋāĻ•ā§āϰāϝāĻŧ āφāϝāĻŧāϕ⧋āĻŽā§āĻĒāĻžāύāĻŋ āĻĒāĻŖā§āϝ āĻŦāĻž āϏ⧇āĻŦāĻž āĻŦāĻŋāĻ•ā§āϰāĻŋ āĻ•āϰ⧇ āϝ⧇ āĻŽā§‹āϟ āĻ…āĻ°ā§āĻĨ āφāϝāĻŧ āĻ•āϰ⧇āĨ¤
152Revenue GrowthRevenue āĻĒā§āϰāĻŦ⧃āĻĻā§āϧāĻŋāϏāĻŽāϝāĻŧ⧇āϰ āϏāĻ™ā§āϗ⧇ āϕ⧋āĻŽā§āĻĒāĻžāύāĻŋāϰ revenue āĻ•āϤāϟāĻž āĻŦāĻžāĻĄāĻŧāϛ⧇āĨ¤
153Earningsāϕ⧋āĻŽā§āĻĒāĻžāύāĻŋāϰ āφāϝāĻŧāϕ⧋āĻŽā§āĻĒāĻžāύāĻŋ āĻ–āϰāϚ āĻŦāĻžāĻĻ āĻĻ⧇āĻ“āϝāĻŧāĻžāϰ āĻĒāϰ āϝ⧇ profit āϤ⧈āϰāĻŋ āĻ•āϰ⧇āĨ¤
154Net IncomeāύāĻŋāϟ āĻŽā§āύāĻžāĻĢāĻžāϏāĻŦ āĻ–āϰāϚ, interest āĻ“ tax āĻŦāĻžāĻĻ āĻĻ⧇āĻ“āϝāĻŧāĻžāϰ āĻĒāϰ profitāĨ¤
155Gross ProfitāĻŽā§‹āϟ āĻŽā§āύāĻžāĻĢāĻžRevenue āĻĨ⧇āϕ⧇ cost of goods sold āĻŦāĻžāĻĻ āĻĻāĻŋāϞ⧇ āϝāĻž āĻĨāĻžāϕ⧇āĨ¤
156Operating ProfitāĻĒāϰāĻŋāϚāĻžāϞāύ āĻŽā§āύāĻžāĻĢāĻžāĻŽā§‚āϞ business operation āĻĨ⧇āϕ⧇ āĻ…āĻ°ā§āϜāĻŋāϤ profitāĨ¤
157EBITDAāϏ⧁āĻĻ, āĻ•āϰ āĻ“ depreciation-āĻāϰ āφāϗ⧇ āφāϝāĻŧCore operating performance āĻŦā§‹āĻāĻžāϰ āĻāĻ•āϟāĻŋ measureāĨ¤
158EBITāϏ⧁āĻĻ āĻ“ āĻ•āϰ⧇āϰ āφāϗ⧇ āφāϝāĻŧInterest āĻ“ tax āĻŦāĻžāĻĻ āĻĻ⧇āĻ“āϝāĻŧāĻžāϰ āφāϗ⧇āϰ operating earningsāĨ¤
159EPSāĻĒā§āϰāϤāĻŋ āĻļ⧇āϝāĻŧāĻžāϰ⧇ āφāϝāĻŧāϕ⧋āĻŽā§āĻĒāĻžāύāĻŋāϰ earnings āĻĒā§āϰāϤāĻŋ outstanding share-āĻ āĻ•āϤ āĻĒāĻĄāĻŧ⧇āĨ¤
160Diluted EPSDiluted āĻĒā§āϰāϤāĻŋ āĻļ⧇āϝāĻŧāĻžāϰ⧇ āφāϝāĻŧPotential share dilution āĻŦāĻŋāĻŦ⧇āϚāύāĻž āĻ•āϰ⧇ EPS āĻšāĻŋāϏāĻžāĻŦāĨ¤
161Earnings GrowthāφāϝāĻŧ āĻĒā§āϰāĻŦ⧃āĻĻā§āϧāĻŋāϕ⧋āĻŽā§āĻĒāĻžāύāĻŋāϰ earnings āĻ•āϤ āĻĻā§āϰ⧁āϤ āĻŦāĻžāĻĄāĻŧāϛ⧇āĨ¤
162Earnings SurpriseāφāϝāĻŧ⧇āϰ āϚāĻŽāĻ•Actual earnings analyst expectation-āĻāϰ āĻšā§‡āϝāĻŧ⧇ āĻŦ⧇āĻļāĻŋ āĻŦāĻž āĻ•āĻŽ āĻšāĻ“āϝāĻŧāĻžāĨ¤
163Positive Earnings SurpriseāĻĒā§āϰāĻ¤ā§āϝāĻžāĻļāĻžāϰ āĻšā§‡āϝāĻŧ⧇ āĻŦ⧇āĻļāĻŋ āφāϝāĻŧActual earnings estimate-āĻāϰ āĻ“āĻĒāϰ⧇ āĻĨāĻžāĻ•āĻžāĨ¤
164Negative Earnings SurpriseāĻĒā§āϰāĻ¤ā§āϝāĻžāĻļāĻžāϰ āĻšā§‡āϝāĻŧ⧇ āĻ•āĻŽ āφāϝāĻŧActual earnings estimate-āĻāϰ āύāĻŋāĻšā§‡ āĻĨāĻžāĻ•āĻžāĨ¤
165Earnings EstimateāφāϝāĻŧ⧇āϰ āĻĒā§‚āĻ°ā§āĻŦāĻžāĻ­āĻžāϏAnalysts āĻ­āĻŦāĻŋāĻˇā§āĻ¯ā§Ž earnings āϏāĻŽā§āĻĒāĻ°ā§āϕ⧇ āϝ⧇ forecast āĻĻ⧇āϝāĻŧāĨ¤
166Analyst EstimateāĻŦāĻŋāĻļā§āϞ⧇āώāϕ⧇āϰ āĻĒā§‚āĻ°ā§āĻŦāĻžāĻ­āĻžāϏAnalysts-āĻāϰ revenue, earnings āĻŦāĻž āĻ…āĻ¨ā§āϝāĻžāĻ¨ā§āϝ metric-āĻāϰ āĻ…āύ⧁āĻŽāĻžāύāĨ¤
167Earnings GuidanceāĻ­āĻŦāĻŋāĻˇā§āĻ¯ā§Ž āφāϝāĻŧ⧇āϰ āύāĻŋāĻ°ā§āĻĻ⧇āĻļāύāĻžāϕ⧋āĻŽā§āĻĒāĻžāύāĻŋ āύāĻŋāĻœā§‡ future performance āϏāĻŽā§āĻĒāĻ°ā§āϕ⧇ āϝ⧇ outlook āĻĻ⧇āϝāĻŧāĨ¤
168Revenue GuidanceāĻ­āĻŦāĻŋāĻˇā§āĻ¯ā§Ž revenue outlookāϕ⧋āĻŽā§āĻĒāĻžāύāĻŋāϰ future sales āϏāĻŽā§āĻĒāĻ°ā§āϕ⧇ management-āĻāϰ forecastāĨ¤
169Profit GuidanceāĻ­āĻŦāĻŋāĻˇā§āĻ¯ā§Ž profit outlookāĻ­āĻŦāĻŋāĻˇā§āĻ¯ā§Ž profitability āϏāĻŽā§āĻĒāĻ°ā§āϕ⧇ āϕ⧋āĻŽā§āĻĒāĻžāύāĻŋāϰ forecastāĨ¤
170Financial StatementāφāĻ°ā§āĻĨāĻŋāĻ• āĻŦāĻŋāĻŦāϰāĻŖā§€āϕ⧋āĻŽā§āĻĒāĻžāύāĻŋāϰ financial performance āĻ“ āĻ…āĻŦāĻ¸ā§āĻĨāĻžāϰ formal reportāĨ¤
171Income StatementāφāϝāĻŧ-āĻŦā§āϝāϝāĻŧ⧇āϰ āĻŦāĻŋāĻŦāϰāĻŖā§€Revenue, expenses āĻ“ profit āĻĻ⧇āĻ–āĻžāϝāĻŧāĨ¤
172Balance SheetāφāĻ°ā§āĻĨāĻŋāĻ• āĻ…āĻŦāĻ¸ā§āĻĨāĻžāϰ āĻŦāĻŋāĻŦāϰāĻŖā§€Assets, liabilities āĻ“ equity āĻĻ⧇āĻ–āĻžāϝāĻŧāĨ¤
173Cash Flow StatementāύāĻ—āĻĻ āĻĒā§āϰāĻŦāĻžāĻš āĻŦāĻŋāĻŦāϰāĻŖā§€Cash āϕ⧋āĻĨāĻž āĻĨ⧇āϕ⧇ āĻāϏ⧇āϛ⧇ āĻāĻŦāĻ‚ āϕ⧋āĻĨāĻžāϝāĻŧ āϗ⧇āϛ⧇ āϤāĻž āĻĻ⧇āĻ–āĻžāϝāĻŧāĨ¤
174AssetsāϏāĻŽā§āĻĒāĻĻāϕ⧋āĻŽā§āĻĒāĻžāύāĻŋāϰ āĻŽāĻžāϞāĻŋāĻ•āĻžāύāĻžāϧ⧀āύ āĻ…āĻ°ā§āĻĨāύ⧈āϤāĻŋāĻ• āϏāĻŽā§āĻĒāĻĻāĨ¤
175Current AssetsāϚāϞāϤāĻŋ āϏāĻŽā§āĻĒāĻĻāϏāĻžāϧāĻžāϰāĻŖāϤ āĻāĻ• āĻŦāĻ›āϰ⧇āϰ āĻŽāĻ§ā§āϝ⧇ cash-āĻ āϰ⧂āĻĒāĻžāĻ¨ā§āϤāϰāϝ⧋āĻ—ā§āϝ assetsāĨ¤
176Fixed AssetsāĻ¸ā§āĻĨāĻžāϝāĻŧā§€ āϏāĻŽā§āĻĒāĻĻāĻĻā§€āĻ°ā§āϘāĻŽā§‡āϝāĻŧāĻžāĻĻ⧇ āĻŦā§āϝāĻŦāĻšā§ƒāϤ physical assetsāĨ¤
177Intangible AssetsāĻ…āĻĻ⧃āĻļā§āϝ āϏāĻŽā§āĻĒāĻĻBrand, patent, software āχāĻ¤ā§āϝāĻžāĻĻāĻŋ non-physical assetsāĨ¤
178LiabilitiesāĻĻāĻžāϝāĻŧāϕ⧋āĻŽā§āĻĒāĻžāύāĻŋāϰ āĻĒāϰāĻŋāĻļā§‹āϧāϝ⧋āĻ—ā§āϝ financial obligationsāĨ¤
179Current LiabilitiesāϚāϞāϤāĻŋ āĻĻāĻžāϝāĻŧāϏāĻžāϧāĻžāϰāĻŖāϤ āĻāĻ• āĻŦāĻ›āϰ⧇āϰ āĻŽāĻ§ā§āϝ⧇ āĻĒāϰāĻŋāĻļā§‹āϧāϝ⧋āĻ—ā§āϝ liabilitiesāĨ¤
180Long-Term DebtāĻĻā§€āĻ°ā§āϘāĻŽā§‡āϝāĻŧāĻžāĻĻāĻŋ āĻ‹āĻŖāĻāĻ• āĻŦāĻ›āϰ⧇āϰ āĻŦ⧇āĻļāĻŋ āϏāĻŽāϝāĻŧ⧇āϰ āϜāĻ¨ā§āϝ outstanding debtāĨ¤
181Shareholders’ EquityāĻļ⧇āϝāĻŧāĻžāϰāĻšā§‹āĻ˛ā§āĻĄāĻžāϰ⧇āϰ āĻŽāĻžāϞāĻŋāĻ•āĻžāύāĻžAssets āĻĨ⧇āϕ⧇ liabilities āĻŦāĻžāĻĻ āĻĻāĻŋāϞ⧇ āĻ…āĻŦāĻļāĻŋāĻˇā§āϟ valueāĨ¤
182Retained EarningsāϏāĻžā§āϚāĻŋāϤ āĻŽā§āύāĻžāĻĢāĻžDividend āύāĻž āĻĻāĻŋāϝāĻŧ⧇ business-āĻ āϰāĻžāĻ–āĻž accumulated profitāĨ¤
183Book ValueāĻšāĻŋāϏāĻžāĻŦāĻ­āĻŋāĻ¤ā§āϤāĻŋāĻ• āĻŽā§‚āĻ˛ā§āϝAccounting records āĻ…āύ⧁āϝāĻžāϝāĻŧā§€ company equity-āĻāϰ valueāĨ¤
184Book Value Per ShareāĻĒā§āϰāϤāĻŋ āĻļ⧇āϝāĻŧāĻžāϰ⧇āϰ Book ValueāĻŽā§‹āϟ book value-āϕ⧇ shares āĻĻāĻŋāϝāĻŧ⧇ āĻ­āĻžāĻ— āĻ•āϰāϞ⧇ āĻĒāĻžāĻ“āϝāĻŧāĻž āϝāĻžāϝāĻŧāĨ¤
185Free Cash Flow (FCF)āĻŽā§āĻ•ā§āϤ āύāĻ—āĻĻ āĻĒā§āϰāĻŦāĻžāĻšBusiness operation āĻ“ capital spending-āĻāϰ āĻĒāϰ āĻ…āĻŦāĻļāĻŋāĻˇā§āϟ cashāĨ¤
186Operating Cash FlowāĻĒāϰāĻŋāϚāĻžāϞāύ āύāĻ—āĻĻ āĻĒā§āϰāĻŦāĻžāĻšCore business operations āĻĨ⧇āϕ⧇ āϤ⧈āϰāĻŋ cashāĨ¤
187Capital Expenditure (CapEx)āĻŽā§‚āϞāϧāύ⧀ āĻŦā§āϝāϝāĻŧProperty, equipment āĻŦāĻž āĻĻā§€āĻ°ā§āϘāĻŽā§‡āϝāĻŧāĻžāĻĻāĻŋ assets āϕ⧇āύāĻžāϰ āĻŦā§āϝāϝāĻŧāĨ¤
188Cash Flow From InvestingāĻŦāĻŋāύāĻŋāϝāĻŧā§‹āĻ—āϜāύāĻŋāϤ āύāĻ—āĻĻ āĻĒā§āϰāĻŦāĻžāĻšInvestments āĻ“ long-term assets-āĻāϰ transactions āĻĨ⧇āϕ⧇ cash flowāĨ¤
189Cash Flow From FinancingāĻ…āĻ°ā§āĻĨāĻžāϝāĻŧāύāϜāύāĻŋāϤ āύāĻ—āĻĻ āĻĒā§āϰāĻŦāĻžāĻšDebt, equity āĻ“ dividend-related cash movementsāĨ¤
190Working CapitalāĻ•āĻžāĻ°ā§āϝāĻ•āϰ⧀ āĻŽā§‚āϞāϧāύCurrent assets āĻ“ current liabilities-āĻāϰ āĻĒāĻžāĻ°ā§āĻĨāĻ•ā§āϝāĨ¤
191Current RatioāϚāϞāϤāĻŋ āĻ…āύ⧁āĻĒāĻžāϤCurrent assets āĻĻāĻŋāϝāĻŧ⧇ short-term liabilities āĻĒāϰāĻŋāĻļā§‹āϧ⧇āϰ āϏāĻ•ā§āώāĻŽāϤāĻžāĨ¤
192Quick RatioāĻĻā§āϰ⧁āϤ āĻ…āύ⧁āĻĒāĻžāϤLiquid assets āĻĻāĻŋāϝāĻŧ⧇ short-term obligations āĻŽā§‡āϟāĻžāύ⧋āϰ āϏāĻ•ā§āώāĻŽāϤāĻžāĨ¤
193Debt-to-Equity RatioāĻ‹āĻŖ-āχāϕ⧁āχāϟāĻŋ āĻ…āύ⧁āĻĒāĻžāϤCompany debt āĻŦāύāĻžāĻŽ shareholder equity-āĻāϰ āϤ⧁āϞāύāĻžāĨ¤
194Debt-to-Asset RatioāĻ‹āĻŖ-āϏāĻŽā§āĻĒāĻĻ āĻ…āύ⧁āĻĒāĻžāϤCompany assets-āĻāϰ āĻ•āϤ āĻ…āĻ‚āĻļ debt āĻĻāĻŋāϝāĻŧ⧇ financed āϤāĻž āĻŦā§‹āĻāĻžāϝāĻŧāĨ¤
195Interest Coverage RatioāϏ⧁āĻĻ āĻĒāϰāĻŋāĻļā§‹āϧ āϏāĻ•ā§āώāĻŽāϤāĻžOperating earnings āĻĻāĻŋāϝāĻŧ⧇ interest expense āĻ•āϤāϟāĻž cover āĻ•āϰāĻž āϝāĻžāϝāĻŧāĨ¤
196Profit MargināĻŽā§āύāĻžāĻĢāĻžāϰ āĻšāĻžāϰRevenue-āĻāϰ āĻ•āϤ āĻļāϤāĻžāĻ‚āĻļ profit āĻšāĻŋāϏ⧇āĻŦ⧇ āĻĨāĻžāϕ⧇āĨ¤
197Gross MarginGross profit marginRevenue-āĻāϰ āĻ•āϤ āĻ…āĻ‚āĻļ gross profitāĨ¤
198Operating MarginOperating profit marginRevenue-āĻāϰ āĻ•āϤ āĻ…āĻ‚āĻļ operating profitāĨ¤
199Net Profit MargināύāĻŋāϟ āĻŽā§āύāĻžāĻĢāĻžāϰ āĻšāĻžāϰRevenue-āĻāϰ āĻ•āϤ āĻļāϤāĻžāĻ‚āĻļ final net profitāĨ¤
200Return on Equity (ROE)āχāϕ⧁āχāϟāĻŋāϰ āĻ“āĻĒāϰ āϰāĻŋāϟāĻžāĻ°ā§āύShareholders’ equity āĻŦā§āϝāĻŦāĻšāĻžāϰ āĻ•āϰ⧇ āϕ⧋āĻŽā§āĻĒāĻžāύāĻŋ āĻ•āϤ profit āϤ⧈āϰāĻŋ āĻ•āϰāϛ⧇āĨ¤
201Currency StrengthāĻŽā§āĻĻā§āϰāĻžāϰ āĻļāĻ•ā§āϤāĻŋāĻāĻ•āϟāĻŋ currency āĻ…āĻ¨ā§āϝ currency-āĻāϰ āϤ⧁āϞāύāĻžāϝāĻŧ āĻ•āϤāϟāĻž āĻļāĻ•ā§āϤāĻŋāĻļāĻžāϞ⧀ āϤāĻž āĻŦā§‹āĻāĻžāϝāĻŧāĨ¤
202Currency WeaknessāĻŽā§āĻĻā§āϰāĻžāϰ āĻĻ⧁āĻ°ā§āĻŦāϞāϤāĻžāĻāĻ•āϟāĻŋ currency-āĻāϰ relative value āĻ•āĻŽā§‡ āϝāĻžāĻ“āϝāĻŧāĻžāϰ āĻ…āĻŦāĻ¸ā§āĻĨāĻžāĨ¤
203Dollar Index (DXY)āĻĄāϞāĻžāϰ āϏ⧂āϚāĻ•āĻĒā§āϰāϧāĻžāύ āĻ•āĻŋāϛ⧁ currency-āĻāϰ āĻŦāĻŋāĻĒāϰ⧀āϤ⧇ US Dollar-āĻāϰ āĻļāĻ•ā§āϤāĻŋ āĻŽāĻžāĻĒāĻžāϰ āϏ⧂āϚāĻ•āĨ¤
204USD StrengthāĻĄāϞāĻžāϰ⧇āϰ āĻļāĻ•ā§āϤāĻŋGlobal market-āĻ US Dollar-āĻāϰ relative strengthāĨ¤
205USD WeaknessāĻĄāϞāĻžāϰ⧇āϰ āĻĻ⧁āĻ°ā§āĻŦāϞāϤāĻžāĻ…āĻ¨ā§āϝāĻžāĻ¨ā§āϝ major currency-āĻāϰ āϤ⧁āϞāύāĻžāϝāĻŧ USD-āĻāϰ value āĻĻ⧁āĻ°ā§āĻŦāϞ āĻšāĻ“āϝāĻŧāĻžāĨ¤
206Interest Rate DifferentialāϏ⧁āĻĻ⧇āϰ āĻšāĻžāϰ⧇āϰ āĻĒāĻžāĻ°ā§āĻĨāĻ•ā§āϝāĻĻ⧁āχ āĻĻ⧇āĻļ⧇āϰ interest rate-āĻāϰ āĻĒāĻžāĻ°ā§āĻĨāĻ•ā§āϝ, āϝāĻž currency demand āĻĒā§āϰāĻ­āĻžāĻŦāĻŋāϤ āĻ•āϰāϤ⧇ āĻĒāĻžāϰ⧇āĨ¤
207Central Bank Expectationsāϕ⧇āĻ¨ā§āĻĻā§āϰ⧀āϝāĻŧ āĻŦā§āϝāĻžāĻ‚āĻ• āĻĒā§āϰāĻ¤ā§āϝāĻžāĻļāĻžāĻ­āĻŦāĻŋāĻˇā§āϝāϤ⧇ central bank āϕ⧀ policy āύāĻŋāϤ⧇ āĻĒāĻžāϰ⧇ āϏ⧇ āϏāĻŽā§āĻĒāĻ°ā§āϕ⧇ market expectationāĨ¤
208Rate ExpectationsāϏ⧁āĻĻ⧇āϰ āĻšāĻžāϰ āĻĒā§āϰāĻ¤ā§āϝāĻžāĻļāĻžāĻ­āĻŦāĻŋāĻˇā§āϝāϤ⧇āϰ interest-rate movement āύāĻŋāϝāĻŧ⧇ market-āĻāϰ āϧāĻžāϰāĻŖāĻžāĨ¤
209Forward GuidanceāĻ­āĻŦāĻŋāĻˇā§āĻ¯ā§Ž āύ⧀āϤāĻŋāϰ āχāĻ™ā§āĻ—āĻŋāϤCentral bank āĻ­āĻŦāĻŋāĻˇā§āĻ¯ā§Ž monetary policy āϏāĻŽā§āĻĒāĻ°ā§āϕ⧇ āϝ⧇ signal āĻĻ⧇āϝāĻŧāĨ¤
210Policy Divergenceāύ⧀āϤāĻŋāĻ—āϤ āĻĒāĻžāĻ°ā§āĻĨāĻ•ā§āϝāĻĻ⧁āχ central bank-āĻāϰ monetary policy-āĻāϰ āĻ­āĻŋāĻ¨ā§āύ directionāĨ¤
211Carry TradeāϏ⧁āĻĻ⧇āϰ āĻĒāĻžāĻ°ā§āĻĨāĻ•ā§āϝāĻ­āĻŋāĻ¤ā§āϤāĻŋāĻ• āĻŸā§āϰ⧇āĻĄāĻ•āĻŽ āϏ⧁āĻĻ⧇āϰ currency āϧāĻžāϰ āĻ•āϰ⧇ āĻŦ⧇āĻļāĻŋ āϏ⧁āĻĻ⧇āϰ currency-āϤ⧇ āĻŦāĻŋāύāĻŋāϝāĻŧā§‹āϗ⧇āϰ strategyāĨ¤
212Safe-Haven CurrencyāύāĻŋāϰāĻžāĻĒāĻĻ āφāĻļā§āϰāϝāĻŧ⧇āϰ āĻŽā§āĻĻā§āϰāĻžMarket uncertainty-āϤ⧇ āϤ⧁āϞāύāĻžāĻŽā§‚āϞāĻ•āĻ­āĻžāĻŦ⧇ āĻŦ⧇āĻļāĻŋ demand āĻĒāĻžāĻ“āϝāĻŧāĻž currencyāĨ¤
213Risk-OnāĻā§āρāĻ•āĻŋ āĻ—ā§āϰāĻšāϪ⧇āϰ āĻĒāϰāĻŋāĻŦ⧇āĻļInvestorāϰāĻž riskier assets-āĻāϰ āĻĻāĻŋāϕ⧇ āĻŦ⧇āĻļāĻŋ āĻā§‹āρāϕ⧇āĨ¤
214Risk-OffāĻā§āρāĻ•āĻŋ āĻāĻĄāĻŧāĻžāύ⧋āϰ āĻĒāϰāĻŋāĻŦ⧇āĻļInvestorāϰāĻž risky assets āĻ•āĻŽāĻŋāϝāĻŧ⧇ safer assets-āĻāϰ āĻĻāĻŋāϕ⧇ āϝāĻžāϝāĻŧāĨ¤
215Market SentimentāĻŦāĻžāϜāĻžāϰ⧇āϰ āĻŽāύ⧋āĻ­āĻžāĻŦInvestors-āĻāϰ āϏāĻžāĻŽāĻ—ā§āϰāĻŋāĻ• optimism āĻŦāĻž pessimismāĨ¤
216Geopolitical RiskāĻ­ā§‚āϰāĻžāϜāύ⧈āϤāĻŋāĻ• āĻā§āρāĻ•āĻŋāϝ⧁āĻĻā§āϧ, āϏāĻ‚āϘāĻžāϤ, āϰāĻžāϜāύ⧈āϤāĻŋāĻ• tension āχāĻ¤ā§āϝāĻžāĻĻāĻŋ āĻĨ⧇āϕ⧇ market riskāĨ¤
217Political RiskāϰāĻžāϜāύ⧈āϤāĻŋāĻ• āĻā§āρāĻ•āĻŋPolitical instability āĻŦāĻž policy change-āĻāϰ economic impactāĨ¤
218Trade WarāĻŦāĻžāĻŖāĻŋāĻœā§āϝ āϝ⧁āĻĻā§āϧāĻĻ⧇āĻļāϗ⧁āϞ⧋āϰ āĻŽāĻ§ā§āϝ⧇ tariffs āĻ“ trade restrictions āύāĻŋāϝāĻŧ⧇ āϏāĻ‚āϘāĻžāϤāĨ¤
219TariffāφāĻŽāĻĻāĻžāύāĻŋ āĻļ⧁āĻ˛ā§āĻ•Imported goods-āĻāϰ āĻ“āĻĒāϰ government taxāĨ¤
220SanctionsāĻ…āĻ°ā§āĻĨāύ⧈āϤāĻŋāĻ• āύāĻŋāώ⧇āϧāĻžāĻœā§āĻžāĻžāϕ⧋āύ⧋ āĻĻ⧇āĻļ āĻŦāĻž āĻĒā§āϰāϤāĻŋāĻˇā§āĻ āĻžāύ⧇āϰ āĻ“āĻĒāϰ economic restrictionsāĨ¤
221Commodity PricesāĻĒāĻŖā§āϝ⧇āϰ āĻĻāĻžāĻŽOil, gold, gas, metals āχāĻ¤ā§āϝāĻžāĻĻāĻŋ commodities-āĻāϰ market priceāĨ¤
222Crude OilāĻ…āĻĒāϰāĻŋāĻļā§‹āϧāĻŋāϤ āϤ⧇āϞEnergy market-āĻāϰ āĻ…āĻ¨ā§āϝāϤāĻŽ āĻĒā§āϰāϧāĻžāύ commodityāĨ¤
223Oil SupplyāϤ⧇āϞ āϏāϰāĻŦāϰāĻžāĻšMarket-āĻ available crude oil-āĻāϰ āĻĒāϰāĻŋāĻŽāĻžāĻŖāĨ¤
224Oil DemandāϤ⧇āϞ⧇āϰ āϚāĻžāĻšāĻŋāĻĻāĻžGlobal economy-āϤ⧇ oil-āĻāϰ āĻŦā§āϝāĻŦāĻšāĻžāϰ āĻ“ demandāĨ¤
225OPECāϤ⧇āϞ āĻ‰ā§ŽāĻĒāĻžāĻĻāĻ• āĻĻ⧇āĻļāϗ⧁āϞ⧋āϰ āϏāĻ‚āĻ—āĻ āύāĻĒā§āϰāϧāĻžāύ oil-producing countries-āĻāϰ āĻāĻ•āϟāĻŋ āφāĻ¨ā§āϤāĻ°ā§āϜāĻžāϤāĻŋāĻ• āϏāĻ‚āĻ—āĻ āύāĨ¤
226OPEC+OPEC āĻ“ āϏāĻšāϝ⧋āĻ—ā§€ āĻ‰ā§ŽāĻĒāĻžāĻĻāĻ•OPEC-āĻāϰ āϏāĻ™ā§āϗ⧇ āϏāĻšāϝ⧋āĻ—ā§€ major oil producers-āĻāϰ broader groupāĨ¤
227Gold DemandāĻ¸ā§āĻŦāĻ°ā§āϪ⧇āϰ āϚāĻžāĻšāĻŋāĻĻāĻžInvestment, jewelry āĻ“ central-bank purchases āĻĨ⧇āϕ⧇ gold demandāĨ¤
228Safe-Haven DemandāύāĻŋāϰāĻžāĻĒāĻĻ āϏāĻŽā§āĻĒāĻĻ⧇āϰ āϚāĻžāĻšāĻŋāĻĻāĻžUncertainty āĻŦāĻžāĻĄāĻŧāϞ⧇ gold āĻŦāĻž āĻ…āĻ¨ā§āϝ safe assets-āĻāϰ demand āĻŦ⧃āĻĻā§āϧāĻŋāĨ¤
229Real YieldāĻĒā§āϰāĻ•ā§ƒāϤ āĻŦāĻ¨ā§āĻĄ āĻĢāϞāύNominal yield āĻĨ⧇āϕ⧇ inflation expectation-āĻāϰ āĻĒā§āϰāĻ­āĻžāĻŦ āĻŦāĻŋāĻŦ⧇āϚāύāĻž āĻ•āϰāĻž yieldāĨ¤
230Gold–Interest Rate RelationshipGold āĻ“ āϏ⧁āĻĻ⧇āϰ āϏāĻŽā§āĻĒāĻ°ā§āĻ•Interest rates āĻ“ real yields āĻĒāϰāĻŋāĻŦāĻ°ā§āϤāύ⧇āϰ āϏāĻ™ā§āϗ⧇ gold-āĻāϰ demand āĻĒāϰāĻŋāĻŦāĻ°ā§āϤāĻŋāϤ āĻšāϤ⧇ āĻĒāĻžāϰ⧇āĨ¤
231Central Bank Gold Buyingāϕ⧇āĻ¨ā§āĻĻā§āϰ⧀āϝāĻŧ āĻŦā§āϝāĻžāĻ‚āϕ⧇āϰ āĻ¸ā§āĻŦāĻ°ā§āĻŖ āĻ•ā§āϰāϝāĻŧCentral banks reserve diversification-āĻāϰ āϜāĻ¨ā§āϝ gold āĻ•āĻŋāύāϤ⧇ āĻĒāĻžāϰ⧇āĨ¤
232Gold ReservesāĻ¸ā§āĻŦāĻ°ā§āĻŖ āϰāĻŋāϜāĻžāĻ°ā§āĻ­Central bank āĻŦāĻž institution-āĻāϰ āĻšāĻžāϤ⧇ āĻĨāĻžāĻ•āĻž gold holdingsāĨ¤
233Commodity InflationāĻĒāĻŖā§āϝāĻ­āĻŋāĻ¤ā§āϤāĻŋāĻ• āĻŽā§‚āĻ˛ā§āϝāĻ¸ā§āĻĢā§€āϤāĻŋEnergy, food āĻ“ raw materials-āĻāϰ āĻĻāĻžāĻŽ āĻŦ⧃āĻĻā§āϧāĻŋāϰ āĻŽāĻžāĻ§ā§āϝāĻŽā§‡ inflation pressureāĨ¤
234Supply ShockāϏāϰāĻŦāϰāĻžāĻš āϧāĻžāĻ•ā§āĻ•āĻžSupply āĻšāĻ āĻžā§Ž āĻ•āĻŽā§‡/āĻŦāĻžāĻĄāĻŧāĻžāϝāĻŧ price āĻ“ economic activity-āϤ⧇ āĻŦāĻĄāĻŧ āĻĒāϰāĻŋāĻŦāĻ°ā§āϤāύāĨ¤
235Demand ShockāϚāĻžāĻšāĻŋāĻĻāĻž āϧāĻžāĻ•ā§āĻ•āĻžDemand āĻšāĻ āĻžā§Ž āĻĒāϰāĻŋāĻŦāĻ°ā§āϤāĻŋāϤ āĻšāϝāĻŧ⧇ economy āĻ“ prices-āϕ⧇ āĻĒā§āϰāĻ­āĻžāĻŦāĻŋāϤ āĻ•āϰāĻžāĨ¤
236Bitcoin FundamentalsBitcoin-āĻāϰ āĻŽā§ŒāϞāĻŋāĻ• āĻ­āĻŋāĻ¤ā§āϤāĻŋBitcoin-āĻāϰ adoption, network activity, supply āĻ“ demand āĻŦāĻŋāĻļā§āϞ⧇āώāĻŖāĨ¤
237Bitcoin SupplyBitcoin āϏāϰāĻŦāϰāĻžāĻšMarket-āĻ available āĻ“ circulating BTC-āĻāϰ āĻĒāϰāĻŋāĻŽāĻžāĻŖāĨ¤
238Bitcoin DemandBitcoin āϚāĻžāĻšāĻŋāĻĻāĻžInvestors āĻ“ users-āĻāϰ BTC āϕ⧇āύāĻžāϰ āφāĻ—ā§āϰāĻšāĨ¤
239Bitcoin HalvingBitcoin reward reductionāύāĻŋāĻ°ā§āĻĻāĻŋāĻˇā§āϟ āϏāĻŽāϝāĻŧ āĻĒāϰ Bitcoin mining reward āĻ…āĻ°ā§āϧ⧇āĻ• āĻšāĻ“āϝāĻŧāĻžāϰ eventāĨ¤
240Bitcoin MiningBitcoin miningNetwork transactions validate āĻ•āϰ⧇ āύāϤ⧁āύ BTC reward āĻĒāĻžāĻ“āϝāĻŧāĻžāϰ processāĨ¤
241Hash Rateāύ⧇āϟāĻ“āϝāĻŧāĻžāĻ°ā§āĻ• computing powerBitcoin network-āĻāϰ āĻŽā§‹āϟ mining computational power-āĻāϰ measureāĨ¤
242Mining DifficultyMining-āĻāϰ āĻ•āĻ āĻŋāύāϤāĻžBitcoin block mining āĻ•āϤāϟāĻž āĻ•āĻ āĻŋāύ āϤāĻž āύāĻŋāĻ°ā§āϧāĻžāϰāĻŖāĻ•āĻžāϰ⧀ network parameterāĨ¤
243Network Activityāύ⧇āϟāĻ“āϝāĻŧāĻžāĻ°ā§āĻ• āĻ•āĻžāĻ°ā§āϝāĻ•ā§āϰāĻŽBlockchain-āĻ transaction āĻ“ user activity-āĻāϰ āĻŽāĻžāĻ¤ā§āϰāĻžāĨ¤
244Active AddressesāϏāĻ•ā§āϰāĻŋāϝāĻŧ addressāύāĻŋāĻ°ā§āĻĻāĻŋāĻˇā§āϟ āϏāĻŽāϝāĻŧ⧇ transaction-āĻ āĻ…āĻ‚āĻļ āύ⧇āĻ“āϝāĻŧāĻž blockchain addressesāĨ¤
245Transaction VolumeāϞ⧇āύāĻĻ⧇āύ⧇āϰ āĻĒāϰāĻŋāĻŽāĻžāĻŖBlockchain-āĻ āύāĻŋāĻ°ā§āĻĻāĻŋāĻˇā§āϟ āϏāĻŽāϝāĻŧ⧇ transfer āĻšāĻ“āϝāĻŧāĻž valueāĨ¤
246Total Value Locked (TVL)āĻŽā§‹āϟ locked valueDeFi protocols-āĻ locked āĻĨāĻžāĻ•āĻž āĻŽā§‹āϟ assets-āĻāϰ valueāĨ¤
247Stablecoin SupplyStablecoin āϏāϰāĻŦāϰāĻžāĻšMarket-āĻ circulating stablecoins-āĻāϰ āĻŽā§‹āϟ supplyāĨ¤
248Crypto Market CapitalizationCrypto āĻŦāĻžāϜāĻžāϰāĻŽā§‚āĻ˛ā§āϝāĻāĻ•āϟāĻŋ cryptocurrency āĻŦāĻž āĻĒ⧁āϰ⧋ crypto market-āĻāϰ āĻŽā§‹āϟ market valueāĨ¤
249TokenomicsToken āĻ…āĻ°ā§āĻĨāύ⧀āϤāĻŋToken-āĻāϰ supply, distribution, utility āĻ“ incentive structureāĨ¤
250Token SupplyToken āϏāϰāĻŦāϰāĻžāĻšāϕ⧋āύ⧋ cryptocurrency/token-āĻāϰ āĻŽā§‹āϟ āĻŦāĻž circulating supplyāĨ¤