Economic Events: (GMT)

15:00     CAD      Ivey PMI

The Ivey Purchasing Managers' Index (PMI) measures the activity level of purchasing managers in Canada. A reading above 50 indicates expansion; a reading below 50 indicates contraction. The index is a joint project of the Purchasing Management Association of Canada and the Richard Ivey School of Business. 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 CAD, while a lower than expected reading should be taken as negative/bearish for the CAD.

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% 

 
 

 

 

USD/CAD

USD/CAD Fundamental Analysis February 6, 2012, Forecast

Analysis and Recommendations:

The USD/CAD is currently trading at 99.35

The USD soared past all of its major trading partners today after jobs reports beat forecasts in the US.

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. 

Where as Canadian unemployment increased to 7.6% and the jobs report came in under forecast. Weakening the CAD

Scheduled Sovereign Bond Sales

Feb 06  10:10  Norway  Bond auction

Feb 07  09:00  Netherlands Eur 5.0bn Jul 2022 DSL

Feb 07  10:10  Greece  6M T-bill auction

Feb 07  10.30  UK  Auctions 1.75% 2017 conventional Gilt

Feb 07  15:30  UK  Details gilt auction on Feb 16

Feb 07  18:00  US  Auctions 3Y Notes

Feb 08  10:10  Sweden  Nominal bond auction

Feb 08  10:30  Germany  Eur 4.0bn Feb 2017 Bobl

Feb 08  10:30  Swiss  Bond auction

Feb 08  16:30  Italy   Details BOT auction on Feb 13

Feb 08  18:00  US  Auctions 10Y Notes

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

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

Name S3 S2 S1 Pivot R1 R2 R3

Classic
0.9788
0.9858
0.9896
0.9966
1.0004
1.0074
1.0112

Fibonacci
0.9858
0.9899
0.9924
0.9966
1.0007
1.0032
1.0074

Camarilla
0.9905
0.9915
0.9925
0.9966
0.9945
0.9955
0.9965

Woodie's
-
0.9850
0.9881
0.9958
0.9989
1.0066
-

DeMark's
-
-
0.9985
0.9956
0.9877
-
-