Economic Events: (GMT)
US markets are closed for the Presidents Day Holiday
Feb. 20 00:01 GBP Rightmove House Price Index (MoM)
07:00 EUR German Import Price Index (MoM)
07:00 CHF Trade Balance
08:15 CHF Employment Level
23:50 JPY Trade Balance
The Trade Balance measures the difference in value between imported and exported goods and services over the reported period. A positive number indicates that more goods and services were exported than imported.
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.
EUR/USD Fundamental Analysis February 20, 2012, Forecast
Analysis and Recommendations:
The EUR/USD continues its climb back up today, after falling below 1.30 in yesterdays mid day trading, the euro has been steadily rising. Ending the day at 1.3158 up .0029
The increased risk appetite is returning to the markets, after the ECB announced a bond swap with Greece and Merkel and Monti noted that there could be a deal as soon as Monday, but we have all heard this before.
Euro-zone construction output edged up for the second month running in December, but that wasn't enough to stop a contraction in the fourth quarter overall. The European Union's statistics agency said overall construction output in the 17 countries that use the euro rose.
Banks' emergency overnight borrowing from the European Central Bank fell further Thursday, illustrating the reduced market tensions since the ECB flooded the banking system with liquidity via its first three-year loan operation
Swedish economic growth in 2012 will probably be much lower than the government's 1.3% forecast last autumn, Swedish Finance Minister Anders Borg told reporters Friday. The Riksbank and the commercial banks expect growth of around half a percent
The US economy is expected to continue strengthening, possibly picking up this spring and summer, the Conference Board said Friday as it reported that its index of leading economic indicators grew 0.4% in January, led by the interest-rate spread and manufacturing hours.
The underlying rate of U.S. inflation accelerated by the fastest pace in four months in January, the Labor Department said Friday. The consumer price index increased 0.2%, driven by the first increase in gasoline prices since September. Food prices rose 0.2 % for the second straight month. The core CPI index, excluding food and energy costs, was up 0.2% in January. Economists were expecting the CPI to rise 0.3% in January after remaining flat in the prior month. The core rate was expected to rise 0.2% after rising 0.1% in the previous month.
The government's consumer price index rose 0.2% in January, just under the 0.3% expected by analysts. The core rate that excludes volatile food and energy prices held at 0.2%, in line with expectations
Americans' cost of living rises 0.2% in January, driven higher by the first increase in energy prices in four months, according to Labor Department data.
On this pair it is probably best to see what the weekend brings. Tensions are still high in the eurozone between Greece, Athens and Brussels.
Friday February 17, 2012 Economic Reports actual v. forecast
Singaporean Trade Balance
German PPI (MoM)
Retail Sales (MoM)
Brazilian Unemployment Rate
Core CPI (MoM)
Core CPI (MoM)
Leading Indicators (MoM)
Sovereign Bond Auction Schedule
Feb 20-24 n/a UK 0.375% 2062 I/L Gilt syndication
Feb 20 10:10 Norway Nok 3bn 4.5% May 2019 DSL
Feb 20 10:10 Slovakia Eur 0.15bn Apr 2014 & Eur 0.05bn Nov 2016 bonds
Feb 21 09:30 Spain 3 & 6M T-bill auction
Feb 21 15:30 UK Details gilt auction on Mar 01
Feb 21 18:00 US Auctions 2Y Notes
Feb 22 10:10 Sweden Nominal bond auction
Feb 22 10:30 Germany Eur 5.0bn Mar 2014 Schatz
Feb 22 16:30 Italy Details CTZ/BTPei on Feb 24 & BOT on Feb 27
Feb 22 18:00 US Auctions 5Y Notes
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
EUR/USD Pivot Points (Time Frame: 1 Day)
Name S3 S2 S1 Pivot R1 R2 R3