Economic Events: (GMT)

WEEKLY

 

Crude

Crude Oil Fundamental Analysis February 22, 2012, Forecast

Analysis and Recommendations:

Crude Oil is currently $104.67 a barrel on the New York Mercantile Exchange. It traded as high as $105.44  at a nine-month high Tuesday, pushing over $105 a barrel on fears of more supply disruptions from Iran's latest move and as traders cheered Greece's second bailout.

The supply concerns took hold after Iran announced Monday it cut off oil sales to the U.K and France. Separately, European authorities agreed on a Greek bailout package earlier Tuesday.

U.S. markets were closed Monday for the Presidents Day holiday, and Tuesday was the first U.S. floor trading day to react to both crucial events for the oil trade.

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%

 
 

Crude Oil Pivot Points (Time Frame: 1 Day)

 

Name S3 S2 S1 Pivot R1 R2 R3

Classic
103.463
104.052
105.093
105.682
106.723
107.312
108.353

Fibonacci
104.052
104.674
105.059
105.682
106.304
106.689
107.312

Camarilla
105.687
105.836
105.986
105.682
106.284
106.434
106.583

Woodie's
-
104.165
105.320
105.795
106.950
107.425
-

DeMark's
-
-
107.018
105.829
105.388
-
-