Analysis and Recommendations:

The USD/CAD is trading today at 0.9934 after opening at 0.9910. The USD has shown some strength here, but very little. There is little in the way of economic news in Canada or the US to move this pair today. The anticipation is the FOMC on Tuesday. Oil and Gold have dropped today, which has an overall effect on the CAD. The pair is no expected to do much until the FOMC statement and there is not much expected in the statement. It should be fairly quiet couple of days here, with low volume and little excitement.

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March 12, 2012 Economic Releases actual v. forecast

Mar. 12

00:50

 

JPY

 
 
 

CGPI (YoY) 

0.6%

 

0.6% 

 

0.5% 

 
 

 

00:50

 

JPY

 
 
 

Core Machinery Orders (MoM) 

3.4%

 

2.3% 

 

-7.1% 

 
 

 

05:01

 

MYR

 
 
 

Malaysian Industrial Production (YoY) 

0.2%

 

4.1% 

 

2.9% 

 
 

 

06:00

 

JPY

 
 
 

Household Confidence 

39.5

 

40.6 

 

40.0 

 
 

 

06:30

 

INR

 
 
 

Indian Industrial Production (YoY) 

6.8%

 

2.1% 

 

2.5% 

 
 

 

08:00

 

EUR

 
 
 

German WPI (MoM) 

1.0%

 

1.1% 

 

1.2% 

 
 

 

10:00

 

EUR

 
 
 

Italian GDP (QoQ) 

-0.7%

 

-0.7% 

 

-0.7% 

 
 

 

11:30

 

EUR

 
 
 

German 6-Month Bubill Auction 

0.053%

 
 
 

0.076% 

 
 

Scheduled Economic Events for March 13, 2012

US                                                                 

 13:30  USD     Core Retail Sales (MoM)                     0.8%                0.7%     

 13:30  USD     Retail Sales (MoM)                             1.0%                0.4%

(Core and ) Retail Sales measures the change in the total value of sales at the retail level in the U.S., excluding automobiles. It is an important indicator of consumer spending and is also considered as a pace indicator for the U.S. economy.        

19:15   USD    Interest Rate Decision                        0.25%             0.25%            

 19:15  USD    FOMC Statement                                                                               

Federal Open Market Committee (FOMC) 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. Along with the Decision the U.S. Federal Reserve's Federal Open Market Committee (FOMC) statement is the primary tool the panel uses to communicate with investors about monetary policy. It contains the outcome of the vote on interest rates, discusses the economic outlook and offers clues on the outcome of future votes.

Government Bond Auction Schedule     (this week)

Mar 13  09:30  Netherlands Eur 2.5bn-3.5bn re-opened Apr 2015 DSL

Mar 13  10:10  Italy   BOT auction

Mar 13  10:30  Belgium  Auctions 3 & 12M T-bills

Mar 13  15:30  UK  Details gilt auction on Mar 22

Mar 13  18:00  US  Auctions 10Y Notes

Mar 14  10:10  Italy   BTP/CCTeu auction

Mar 14  10:10  Sweden  Auctions T-bills

Mar 14  10:30  Swiss  Bond auction

Mar 14  15:30  Sweden  Details nominal bond exchange auction on Mar 21

Mar 14  18:00  US  Auctions 30Y Bonds

Mar 15  09:30  Spain  Obligacion auction

Mar 15  09:50  France  BTAN auction

Mar 15  10.30  UK  Auctions 4.5% 2042 conventional Gilt

Mar 15  10:50  France  OATi auction

Mar 15  16:00  US  Announces auction of 10Y TIPS on Mar 22

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

 

Name S3 S2 S1 Pivot R1 R2 R3

Classic
0.9839
0.9868
0.9889
0.9918
0.9939
0.9968
0.9989

Fibonacci
0.9868
0.9888
0.9899
0.9918
0.9938
0.9949
0.9968

Camarilla
0.9896
0.9900
0.9905
0.9918
0.9914
0.9919
0.9923

Woodie's
-
0.9866
0.9884
0.9916
0.9934
0.9966
-

DeMark's
-
-
0.9929
0.9913
0.9879
-
-