Economic Events: (GMT)

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.

 

Analysis and Recommendations:

The USD/CAD is currently trading 0.9964 up from earlier in the day of the low of 0.9936.The dollar was strong in early trading as there was no agreements in Greece, but declined as the ECB gave in to demands that it accept a haircut on its Greek assets. After adamant refusing for months, the ECB signaled

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

USD/CAD Fundamental Analysis February 9, 2012, Forecast

Today that it was willing to accept additional losses. The EU and ECB quickly developed a mechanism to process these bonds via the EFSF fund. This news gave the markets the belief that a final deal could now be worked out to settle budget cuts with Greek politicians and move to the final stages of the deal with Greek creditors. Again Thursday it will be a roller coaster ride, all revolving around Greece, news, rumors, statements and hopes. The dollar should settle down tomorrow, but watch the US employment reports closely.

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 

 
 

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 

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

Name S3 S2 S1 Pivot R1 R2 R3

Classic
0.9874
0.9904
0.9931
0.9961
0.9988
1.0018
1.0045

Fibonacci
0.9904
0.9926
0.9939
0.9961
0.9983
0.9996
1.0018

Camarilla
0.9943
0.9948
0.9953
0.9961
0.9964
0.9969
0.9974

Woodie's
-
0.9904
0.9930
0.9960
0.9987
1.0017
-

DeMark's
-
-
1.0003
0.9969
0.9946
-
-