Economic Events:  (GMT)

13:30     USD      Initial Jobless Claims                                    354K                      348K                     

13:30     USD      Continuing Jobless Claims                          3460K                    3426K     

Initial Jobless Claims and Continuing Jobless Claims measure the number of unemployed individuals who qualify for benefits under unemployment insurance.

A higher than expected reading should be taken as negative/bearish for the USD, while a lower than expected reading should be taken as positive/bullish for the USD.               

 22:30                   AUD                                                      RBA Governor Stevens Speaks

Reserve Bank of Australia (RBA) Governor Glenn Stevens (September 2006 - September 2013) is to speak. As the head of the RBA, which sets short term interest rates, he has a major influence over the value of the Australian dollar. Traders watch his speeches closely as they are often used to drop subtle hints regarding future monetary policy and interest rate shifts. After surprising the markets last week and holding rates, today's comments might have some effects on the Aussie

AUD/USD

AUD/USD Fundamental Analysis February 23, 2012 Forecast

Analysis and Recommendation: (close of Asian session)

AUD/USD was trading at 1.0668, The Australian dollar was lower today, failing to gain ground despite the approval of a Greek bailout package.

On Tuesday, euro zone ministers approved the delivery of a second aid package to help prevent Greece from defaulting on its debts.

Markets have had a lukewarm reaction to the much-awaited decision because economists only give the deal a small chance of sufficiently helping the Greek economy and alleviating its financial crisis.

Data released today for the Wage Price Index which measures the change in the price businesses and the government pays for labor, excluding bonuses. It is a leading indicator of consumer price inflation. The report showed an unexpected increase which was positive for Aussie; markets were expecting an increase of 0.8% while the report showed an increase to 1.0%.

The Aussie is just waiting for something to set it on fire; it is due to rise, on the back of the Chinese reserve drop and overall strong economic signs from Oz.

February 21, 2012 Economic Reports actual v forecast

NZD

Inflation Expectations (QoQ) 

2.5%

 
 
 

2.8%

 
 

AUD

RBA Governor Stevens Speaks 

 
 
 
 
 
 
 

JPY

All Industries Activity Index (MoM) 

1.3%

 

1.5%

 

-1.0%

 
 

CHF

Trade Balance 

1.55B

 

2.50B

 

2.01B

 
 

GBP

Public Sector Net Borrowing 

-10.7B

 

-9.1B

 

11.1B

 
 

TRY

Turkish Interest Rate Decision 

5.75%

 

5.75%

 

5.75%

 
 

CAD

Core Retail Sales (MoM) 

0.0%

 

0.2%

 

0.4%

 
 

CAD

Retail Sales (MoM) 

-0.2%

 

-0.2%

 

0.4%

 
 

CAD

Wholesale Sales (MoM) 

0.9%

 

0.5%

 

-0.3%

 
 

USD

Chicago Fed National Activity 

0.22

 

0.22

 

0.54

 
 

EUR

Consumer Confidence 

-20

 

-20

 

-21

 
 

USD

2-Year Note Auction 

 
 
 
 

0.250%

 
 

ARS

Argentinian Unemployment Rate 

 
 

7.3%

 

7.2%

 
 

Sovereign Bond Auction Schedule

Feb 23  10:10  Sweden  Sek 0.75bn I/L bond auction

Feb 23  16:30  Italy   Details BTP/CCTeu on Feb 28

Feb 23  18:00  US  Auctions 7Y Notes

Feb 24  10:10  Italy   Auctions CTZ/BTP

AUD/USD Pivot Points (Time Frame: 1 Day)

 

Name S3 S2 S1 Pivot R1 R2 R3

Classic
1.0502
1.0556
1.0618
1.0672
1.0734
1.0788
1.0850

Fibonacci
1.0556
1.0600
1.0628
1.0672
1.0716
1.0744
1.0788

Camarilla
1.0648
1.0658
1.0669
1.0672
1.0690
1.0701
1.0711

Woodie's
-
1.0558
1.0621
1.0674
1.0737
1.0790
-

DeMark's
-
-
1.0703
1.0656
1.0587
-
-