Economic Events: (GMT)

06:30     EUR        French CPI (MoM)                                                           0.3%                      0.4%

The French Consumer Price Index (CPI) measures the changes in the price of goods and services purchased by consumers.

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

08:00     EUR        French Manufacturing PMI                                         48.7                        48.5                       

08:30     EUR       German Manufacturing PMI                                      51.5                        51.0                       

09:00     EUR        Manufacturing PMI                                                       49.4                        48.8

Manufacturing Purchasing Managers' Index (PMI) measures the activity level of purchasing managers in the manufacturing sector. A reading above 50 indicates expansion in the sector; below indicates contraction. Traders watch these surveys closely as purchasing managers usually have early access to data about their company's performance, which can be a leading indicator of overall economic performance.

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

 09:30    GBP      MPC Meeting Minutes                 

The Monetary Policy Meeting Minutes are a detailed record of the Bank of England's policy setting meeting, containing in-depth insights into the economic conditions that influenced the decision on where to set interest rates. The breakdown of the MPC members' interest rate votes tends to be the most important part of the minutes.      

10:00     EUR       Industrial New Orders (MoM)                                   0.6%                      -1.2%    

Industrial New Orders measures the change in the total value of new purchase orders placed with manufacturers. It is a leading indicator of production.

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

15:00     USD                      Existing Home Sales                                                     4.67M                     4.61M  

Existing Home Sales measures the change in the annualized number of existing residential buildings that were sold during the previous month. This report helps to gauge the strength of the U.S. housing market and is a key indicator of overall economic strength.

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.

USD/CAD

USD/CAD Fundamental Analysis February 22, 2012, Forecast

Analysis and Recommendations:

The USD/CAD is currently trading 0.9960 precisely in the middle between the high and the low for the day. The USD has been up and down, earlier with Tuesday being the first day back from the holiday after the Greek settlement was announced and then worries and jitters began to upset the markets. Greece remains in the forefront. A trio of reports were released in Canada yesterday, with mixed results, Core Retail sales came in below estimates, while Retails Sales were right at forecast and Whole Sales were above giving mixed signals.

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%

 
 

Sovereign Bond Auction Schedule

Feb 20-24 n/a  UK  0.375% 2062 I/L Gilt syndication

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

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

 

Name S3 S2 S1 Pivot R1 R2 R3

Classic
0.9884
0.9903
0.9938
0.9957
0.9992
1.0011
1.0046

Fibonacci
0.9903
0.9924
0.9937
0.9957
0.9978
0.9991
1.0011

Camarilla
0.9957
0.9962
0.9967
0.9957
0.9977
0.9982
0.9987

Woodie's
-
0.9907
0.9945
0.9961
0.9999
1.0015
-

DeMark's
-
-
1.0002
0.9962
0.9948
-
-