Economic Events:  (GMT)

13:30     USD      Core Durable Goods Orders (MoM)                                        0.0%                      2.2%

13:30           USD      Durable Goods Orders (MoM)                                           -0.8%                     3.0%

Durable Goods Orders measures the change in the total value of new orders for long lasting manufactured goods, including transportation items.

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

 15:00    USD      CB Consumer Confidence                                                          63.0                        61.1

Conference Board (CB) Consumer Confidence measures the level of consumer confidence in economic activity. It is a leading indicator as it can predict consumer spending, which plays a major role in overall economic activity. Higher readings point to higher consumer optimism.

 21:45    NZD      Building Consents (MoM)                                                          3.4%                      2.1%

Building Consents (also known as Building Permits) measures the change in the number of new building consents issued by the government. Building consents are a key indicator of demand in the housing market.

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

23:50     JPY        Industrial Production (MoM)                                                    1.5%                      3.8%

Industrial Production measures the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities.

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

AUD/USD

AUD/USD Fundamental Analysis February 28, 2012 Forecast

Analysis and Recommendation: (close of Asian session)

AUD/USD was trading at 1.0687 opening this morning at 1.0706. The USD was a bit weak over worries about crude oil prices, while in OZ the political drama finished with Prime Minister Gillard retaining her position and Kevin Rudd withdrawing from political life. Tensions in the Middle East continue to weight on the AUD as well as the rise of the yen, one of Australia's major trading partners.

Sovereign Bond Auction Schedule

Feb 28  01:30  Japan  Auctions 2Y JGBs

Feb 28  10:10  Italy   BTP/CCTeu auction

Feb 28  10:30  Belgium  Auctions 3 & 6M T-bills

Feb 28  15:30  UK  Details gilt auctions on Mar 06 & Mar 07

Feb 29  10:10  Sweden  Auctions T-bills

Feb 29  10:30  Germany  Eur 4.0bn 2.0% Jan 2022 Bund

Feb 29  15:30  Sweden  Details nominal bond auction on Mar 07

Mar 01  09:30  Spain  Bono auction

Mar 01  09:50  France  OAT auction

Mar 01  10.30  UK  Auctions 4.0% 2022 conventional Gilt

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

 

Name S3 S2 S1 Pivot R1 R2 R3

Classic
1.0589
1.0624
1.0648
1.0683
1.0707
1.0742
1.0766

Fibonacci
1.0624
1.0647
1.0660
1.0683
1.0706
1.0719
1.0742

Camarilla
1.0656
1.0661
1.0667
1.0683
1.0677
1.0683
1.0688

Woodie's
-
1.0621
1.0642
1.0680
1.0701
1.0739
-

DeMark's
-
-
1.0695
1.0677
1.0636
-
-