Economic Events: (GMT)

WEEKLY

19:00             USD       Federal Budget Balance                 

The Federal Budget Balance measures the difference in value between the federal government's income and expenditure during the reported month. A positive number indicates a budget surplus, a negative number indicates a deficit. 

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.                                                                    

Economic Data results prior trading day ( key  better than expected worse than expected at forecast )    

USD

Monster Employment Index 

133

 
 
 

140 

 
 

EUR

French Services PMI 

52.3

 

51.7 

 

51.7 

 
 

EUR

German Services PMI 

53.7

 

54.5 

 

54.5 

 
 

EUR

Services PMI 

50.4

 

50.5 

 

50.5 

 
 

GBP

Services PMI 

56.0

 

53.5 

 

54.0 

 
 

EUR

Italian CPI (MoM) 

0.3%

 

0.2% 

 

0.4% 

 
 

EUR

Retail Sales (MoM) 

-0.4%

 

0.4% 

 

-0.4% 

 
 

CAD

Employment Change 

2.3K

 

24.0K 

 

17.5K 

 
 

CAD

Unemployment Rate 

7.6%

 

7.5% 

 

7.5% 

 
 

  

Crude

Crude Oil Fundamental Analysis February 6, 2012, Forecast

Analysis and Recommendations:

Crude Oil is currently trading at 97.78 up 1.42

Unexpected good news in the USA today. The US added 243,000 jobs as reported by the Labor Department  for the first time since April. The unemployment rate dropped to 8.3 percent, the lowest since February 2009.This was the boost the US needed to signal that the economy was recovering. The possibility of improved growth in the US will signal more consumption and demand for oil, pushing the black gold up.

Crude Oil Pivot Points (Time Frame: 1 Day)
 

Name S3 S2 S1 Pivot R1 R2 R3

Classic
94.4800
95.2350
96.5300
97.2850
98.5800
99.3350
100.630

Fibonacci
95.2350
96.0181
96.5019
97.2850
98.0681
98.5519
99.3350

Camarilla
97.2613
97.4492
97.6371
97.2850
98.0129
98.2008
98.3888

Woodie's
-
95.3700
96.8000
97.4200
98.8500
99.4700
-

DeMark's
-
-
98.9575
97.4737
96.9075
-
-