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

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

 

 

Actual

 

Forecast

 

Previous

 

 

GBP

Rightmove House Price Index (MoM)

4.1%

 
 
 

-0.8%

 
 

THB

Thai GDP (YoY)

-9.0%

 

-4.3%

 

3.7%

 
 

EUR

French Business Survey

92

 

92

 

92

 
 

EUR

Italian Industrial New Orders (MoM)

5.5%

 

-0.5%

 

0.2%

 
 

RUB

Russian Retail Sales (YoY)

6.8%

 

10.2%

 

9.5%

 
 

RUB

Russian Unemployment Rate

6.6%

 

6.3%

 

6.1%

 
 

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

Classic
79.0183
79.1912
79.5123
79.6852
80.0063
80.1792
80.5003

Fibonacci
79.1912
79.3799
79.4965
79.6852
79.8739
79.9905
80.1792

Camarilla
79.6976
79.7429
79.7882
79.6852
79.8788
79.9241
79.9694

Woodie's
-
79.2283
79.5865
79.7223
80.0805
80.2163
-

DeMark's
-
-
80.0927
79.7284
79.5987
-
-