Economic Events: (GMT)
09:30 GBP Retail Sales (MoM) -0.2% 0.6%
Retail Sales measure the change in the total value of inflation-adjusted sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity.
13:30 USD Core CPI (MoM) 0.3% 0.1%
13:30 USD CPI (MoM) 0.3% 0.0%
The Core Consumer Price Index (CPI) measures the changes in the price of goods and services, excluding food and energy. The CPI measures price change from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.
The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.
Analysis and Recommendations:
The USD/CHF trading at 0.9213 after pushing up to 0.9300 on strenght of the USD. The greenback was a risk aversion move today, as worries over Greece escalated. This pair followed all of its cousins up and down on the strength and weakness of the USD. Tension, rumor, inudendo and accusations surfaced today, played out between Greece and Berlin. While Brussels was exaperted and tired, Berlin hurled comments and accusations at Athens. Nerves are frayed everywhere, not just investors, bankers, financiers, politicans and lawmakers. The latest rumor is that the ECB is going to do some sort of an elaborate bond swap of old and new Greek bonds. This rumor has given life back to the euro in late trading. There has been no official comment.
Across the Atlantic positive economic reports were good news in the US.
The number of U.S. workers making new applications for unemployment benefits fell last week to the lowest level in nearly four years.
data that had the government reporting initial claims for unemployment benefits fell by 13,000 to a seasonally adjusted 348,000 last week, the lowest since March 2008.
Other reports had housing starts up 1.5% last month, while wholesale prices climbing 0.1% in January.
USD/CHF Fundamental Analysis February 17, 2012, Forecast
Thursday February 16, 2012 Economic Reports forecast vs. actual
Nationwide Consumer Confidence
Swedish CPI (YoY)
Swedish Interest Rate Decision
ECB Monthly Report
Core PPI (MoM)
Foreign Securities Purchases
Manufacturing Sales (MoM)
Initial Jobless Claims
Continuing Jobless Claims
Fed Chairman Bernanke Speaks
Mexican GDP (YoY)
Philadelphia Fed Manufacturing Index
Sovereign Bond Auction Schedule
Feb 20-24 n/a UK 0.375% 2062 I/L Gilt syndication
Feb 20 10:10 Norway Nok 3bn 4.5% May 2019 DSL
Feb 20 10:10 Slovakia Eur 0.15bn Apr 2014 & Eur 0.05bn Nov 2016 bonds
Feb 21 09:30 Spain 3 & 6M T-bill auction
Feb 21 15:30 UK Details gilt auction on Mar 01
Feb 21 18:00 US Auctions 2Y Notes
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/CHF Pivot Points (Time Frame: 1 Day)
Name S3 S2 S1 Pivot R1 R2 R3