Economic Events: (GMT)
- Weekly Coal ProductionRelease Schedule: Thursday by 5:00 p.m. EST
- Coal News & MarketsRelease Schedule: Monday by 5:00 p.m. EST
- Natural Gas Weekly UpdateRelease Schedule: Thursday between 2:00 and 2:30 p.m. (Eastern Time)
- Weekly Natural Gas Storage ReportRelease Schedule: Thursday at 10:30 (Eastern Time) (schedule)
13:30 USD Building Permits 0.68M 0.67M
Building Permits measures the change in the number of new building permits issued by the government. Building permits are a key indicator of demand in the housing market.
13:30 USD Core PPI (MoM) 0.1% 0.3%
13:30 USD PPI (MoM) 0.3% -0.1%
The Core Producer Price Index (PPI) measures the change in the selling price of goods and services sold by producers, excluding food and energy. The PPI measures price change from the perspective of the seller. When producers pay more for goods and services, they are more likely to pass the higher costs to the consumer, so PPI is thought to be a leading indicator of consumer inflation.
13:30 USD Housing Starts 0.68M 0.66M
Housing starts measures the change in the annualized number of new residential buildings that began construction during the reported month. It is a leading indicator of strength in the housing sector
13:30 USD Initial Jobless Claims 364K 358K
13:30 USD Continuing Jobless Claims 3550K 3515K
Initial and Continuing Jobless claims measures the number of individuals who filed for unemployment insurance for the first time or renewed during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week.
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.
14:00 USD Fed Chairman Bernanke Speaks
Federal Reserve Chairman Ben Bernanke (February 2006 - January 2014) is to speaky on the economic outlook and recent monetary policy actions, in Washington DC
15:00 USD Philadelphia Fed Manufacturing Index 8.4 7.3
The Philadelphia Federal Reserve Manufacturing Index rates the relative level of general business conditions in Philadelphia. A level above zero on the index indicates improving conditions; below indicates worsening conditions. The data is compiled from a survey of about 250 manufacturers in the Philadelphia Federal Reserve district.
Crude Oil Fundamental Analysis February 16, 2012, Forecast
Analysis and Recommendations:
Earlier in the day, rumors circulated that Iran had cut the oil supplies to Europe, which was later denied by both Iranian officials and Italy's foreign minister. Oil hit a high of 1.0289 when the rumors hit the markets. The strength of the USD also helped support the price of Crude Oil today.
Worries over tensions between Israel and Iran as well as problems in Sudan and Nigeria have helped bolster prices. US energy admin inventory reports are expected to be within forecast but are due shortly and could effect prices.
Wednesday Economic Data actual v. forecast
New Motor Vehicle Sales (MoM)
South Korean Trade Balance
Singaporean Retail Sales (YoY)
French GDP (QoQ)
German GDP (QoQ)
Spanish CPI (YoY)
Swedish GDP (QoQ)
Hungarian GDP (YoY)
Czech GDP (QoQ)
Austrian GDP (YoY)
Netherlands GDP (YoY)
Italian GDP (QoQ)
Average Earnings Index +Bonus
Claimant Count Change
BoE Inflation Report
BoE Gov King Speaks
MBA Mortgage Applications
Polish CPI (YoY)
NY Empire State Manufacturing Index
TIC Net Long-Term Transactions
Crude Oil Pivot Points (Time Frame: 1 Day)
Name S3 S2 S1 Pivot R1 R2 R3