Economic Events: (GMT)

09:30 GBP Industrial Production (MoM)                                                    0.2% -0.6%

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 GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.

09:30 GBP Manufacturing Production (MoM)                                          0.3% -0.2%

Manufacturing Production measures the change in the total inflation-adjusted value of output produced by manufacturers. Manufacturing accounts for approximately 80% of overall Industrial Production.

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

09:30 GBP Trade Balance                                                                                 -8.4B -8.6B

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 GBP, while a lower than expected reading should be taken as negative/bearish for the GBP.

 12:00 GBP Interest Rate Decision                                                                 0.50% 0.50%

Bank of England (BOE) monetary policy committee members vote on where to set the rate. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation.

A higher than expected rate is positive/bullish for the GBP, while a lower than expected rate is negative/bearish for the GBP.

12:45 EUR Interest Rate Decision 1.00% 1.00%

13:30 EUR ECB Press Conference                                

The six members of the European Central Bank (ECB) Executive Board and the 16 governors of the euro area central banks vote on where to set the rate. Traders watch interest rate changes closely as short term interest rates are the primary factor in currency valuation.

A higher than expected rate is positive/bullish for the EUR, while a lower than expected rate is negative/bearish for the EUR.

13:30 USD Initial Jobless Claims 388K 367K

 13:30 USD Continuing Jobless Claims 3525K 3437K

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.

 

EUR/USD
EUR/USD Fundamental Analysis February 9, 2012, Forecast

EUR/USD Fundamental Analysis February 9, 2012, Forecast

Analysis and Recommendations:

The EUR/USD were on an amusement park ride today, up and down, sometimes with strenght and sometimes on weakness without any predictions or plan. The duo are trading at 1.3261, up from the low of 1.3221 and down from the high of 1.3289. The pair played in a tight range bouncing off the highs and low. They were not responding to economic reports or world events. The political and ideological were ignored. Today was simply Greece, Greece and more Greece. The ECB has now consented to take a hit on the Greek bonds they purchased over the past two years in an effort to support the markets. With this accomplished, it is hoped that the Greek politicians and the creditors and then finally the EU and Germany can find a deal that is acceptable.

Wednesday's economic reports ( actual )

GBP
BRC Shop Price Index (YoY)
1.40%
 
 
 
1.70%
 
 

JPY
Economy Watchers Current Index
44.1
 
47.5
 
47.0
 
 

CHF
Unemployment Rate
3.1%
 
3.1%
 
3.1%
 
 

EUR
German Trade Balance
13.9B
 
14.1B
 
14.9B
 
 

EUR
French Government Budget Balance
-90.8B
 
-90.8B
 
-97.2B
 
 

EUR
Spanish Industrial Production (YoY)
-6.9%
 
-6.7%
 
-7.0%
 
 

 

Scheduled Sovereign Bond Sales

Feb 09 10:10 Sweden Sek 0.75bn I/L bond auction

Feb 09 15:30 Sweden Details I/L bond auction on Mar 23

Feb 09 16:00 US Announces auctions of 30Y TIPS on Feb 16

Feb 09 16:30 Italy Details BTP/CCTeu auction on Feb 14

Feb 09 18:00 Italy Auctions 30Y Bonds

Feb 10 11:00 Belgium OLO auction

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

 Name  S3  S2  S1  Pivot  R1  R2  R3

 Classic
1.3156
1.3189
1.3223
1.3256
1.3290
1.3323
1.3357

 Fibonacci
1.3189
1.3215
1.3230
1.3256
1.3282
1.3297
1.3323

 Camarilla
1.3239
1.3245
1.3251
1.3256
1.3263
1.3269
1.3275

 Woodie's
-
1.3189
1.3223
1.3256
1.3291
1.3323
-

 DeMark's
-
-
1.3307
1.3264
1.3239
-
-