Analysis and Recommendations:

The USD/CHF is currently exchanging hands at 0.9122 down from the opening of .09146. The Swissie found a bit of strength today on in positive retail sales report exceeding forecasts, while the greenback exhibited some weakness with a poor showing on the ISM report and investor worries about the Greece PSI bond swap as the deadline date of March 8th quickly approaches. Tuesday is a quiet day on the economic sector, but addition worries from Greece or other eurozone crisis might effect this pair, otherwise expect them to hold here.

Monday March 5, 2012 Economic Data Release actual v. forecast

 

AUD

 
 
 

Company Gross Operating Profits (QoQ) 

5%

 

0.3% 

 

4.7% 

 
 

 

CHF

 
 
 

Retail Sales (YoY) 

4.4%

 

2.0% 

 

1.7% 

 
 

 

GBP

 
 
 

Services PMI 

53.8

 

55.0 

 

56.0 

 
 

 

EUR

 
 
 

Retail Sales (MoM) 

0.3%

 

-0.1% 

 

-0.5% 

 
 

Also today

In the US

The Institute of Supply Management said its non-manufacturing PMI climbed to 57.3 in February from a reading of 56.8 the previous month. Economists had expected the index to decline to 56.1.

Another report showed that U.S. factory orders fell, but at a slower than forecast rate in January, declining by a seasonally adjusted 1.0%, compared to forecasts for a 1.3% slide.

In Europe

Euro zone final composite PMI falls to final 49.3 in February

Italy services PMI 44.1 in February. Down from 44.8 in January and well below Reuter's median forecast of 45.2.

Swiss January retail sales up +4.4% y/y.

Spanish services PMI 41.9 in February. Demonstrably lower than 46.1 in January and Reuter's median forecast of 45.9.Eighth month of contraction, lowest read since November.

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Economic Events: (GMT)

Tuesday will be a very quiet day on the Economic Data Front. Keep an eye on Australia, where the RBA will be announcing rates.

10:00     EUR       GDP (QoQ)                                         -0.3%                     -0.3%      

Gross Domestic Product (GDP) measures the annualized change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and the primary indicator of the economy's health.

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     CAD      Ivey PMI                                             62.1                        64.1

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.

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

 

Name S3 S2 S1 Pivot R1 R2 R3

Classic
0.9043
0.9074
0.9100
0.9132
0.9157
0.9188
0.9214

Fibonacci
0.9074
0.9096
0.9110
0.9132
0.9153
0.9167
0.9188

Camarilla
0.9110
0.9115
0.9120
0.9132
0.9131
0.9136
0.9141

Woodie's
-
0.9073
0.9097
0.9130
0.9154
0.9187
-

DeMark's
-
-
0.9144
0.9125
0.9087
-
-