Economic Events: (GMT)
00:30 AUD Wage Price Index (QoQ) 0.8% 0.7%
The Wage Price Index measures the change in the price businesses and the government pay for labor, excluding bonuses. It is a leading indicator of consumer price inflation.
A higher than expected reading should be taken as positive/bullish for the AUD, while a lower than expected reading should be taken as negative/bearish for the AUD.
15:00 USD Existing Home Sales 4.67M 4.61M
Existing Home Sales measures the change in the annualized number of existing residential buildings that were sold during the previous month. This report helps to gauge the strength of the U.S. housing market and is a key indicator of overall economic strength.
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.
USD/JPY Fundamental Analysis February 22, 2012, Forecast
Analysis and Recommendation: ( close of Asian session )
USD/JPY was trading at 79.78, after moving back into positive territory after the announcement of the Greek bailout package. With Greece behind us now, and maybe a few weeks of recovery for investors, we will return to trading on fundamental and economic data. This middle week of the month will be a slow week on economic data. The US markets were closed yesterday for a national holiday, so US investors will be jumping back with Greece settled behind them and soaring crude oil prices. The USD though should remain strong against the Yen.
On Monday, the Bank of Japan announced the largest trade deficit in history for Japan. Japan's trade deficit has ballooned to a record high ¥1.48 trillion in January, the biggest in the three decades that such data became available.
Exports declined 9.3 per cent in January from the same month last year, particularly in computer chips and electronic parts. Imports in January grew 9.8 per cent on year.
Monday February 20, 2012 Economic Reports actual v. forecast
Rightmove House Price Index (MoM)
Thai GDP (YoY)
French Business Survey
Italian Industrial New Orders (MoM)
Russian Retail Sales (YoY)
Russian Unemployment Rate
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/JPY Pivot Points (Time Frame: 1 Day)
Name S3 S2 S1 Pivot R1 R2 R3