Economic Events: (GMT)

It is a quiet day for economic data throughout the world.

Feb 23GMT

22:30                    AUD                                                      RBA Governor Stevens Speaks

Reserve Bank of Australia (RBA) Governor Glenn Stevens (September 2006 - September 2013) is to speak. As the head of the RBA, which sets short term interest rates, he has a major influence over the value of the Australian dollar. Traders watch his speeches closely as they are often used to drop subtle hints regarding future monetary policy and interest rate shifts. After surprising the markets last week and holding rates, today's comments might have some effects on the Aussie

Analysis and Recommendation: ( close of Asian session )

USD/JPY  rose to ¥80.24 from ¥79.73 in North American trading Tuesday. The pair hasn't closed above the 80-level since mid-July.  During the Asian session to pair rose to end the day at ¥80.18

The yen has been on a downward trend recently against the greenback, which has risen 5.1% just in February so far. The USD has been benefiting against the yen as U.S. yields rise, which analysts say has been a bigger factor than actual intervention by Japanese authorities or comments about the currency's strength.

Wednesday February 22, 2012 Economic Reports     actual v. forecast

 

 AUD

 
 
 

Wage Price Index (QoQ)

1.0%

 

0.8%

 

0.7%

 
 

 

NZD

 
 
 

Credit Card Spending (YoY)

3.1%

 
 
 

5.9%

 
 

 

EUR

 
 
 

French CPI (MoM)

-0.4%

 

0.3%

 

0.4%

 
 

 

EUR

 
 
 

French Manufacturing PMI 

50.2

 

48.7

 

48.5

 
 

 

EUR

 
 
 

French Services PMI 

50.3

 

51.9

 

52.3

 
 

 

EUR

 
 
 

German Manufacturing PMI 

50.1

 

51.5

 

51.0

 
 

 

EUR

 
 
 

German Services PMI 

52.6

 

53.8

 

53.7

 
 

 

TWD

 
 
 

Taiwanese GDP (YoY)

1.9%

 

1.9%

 

1.9%

 
 

 

EUR

 
 
 

Italian CPI (MoM)

0.3%

 

0.3%

 

0.3%

 
 

 

EUR

 
 
 

Manufacturing PMI 

49.0

 

49.4

 

48.8

 
 

 

EUR

 
 
 

Services PMI 

49.4

 

50.7

 

50.4

 
 

 

GBP

 
 
 

MPC Meeting Minutes

 
 
 
 
 
 
 

 

EUR

 
 
 

Industrial New Orders (MoM)

1.9%

 

0.6%

 

-1.1%

 
 

 

EUR

 
 
 

German 2-Year Schatz Auction

0.250%

 
 
 
 
 
 

 

USD

 
 
 

MBA Mortgage Applications

-4.5%

 
 
 

-1.0%

 
 

 

EUR

 
 
 

Spanish Trade Balance

-4.50B

 

-3.10B

 

-2.70B

 
 

 

EUR

 
 
 

Belgium NBB Business Climate

-7.7

 

-8.5

 

-9.5

 
 

 

MXN

 
 
 

Mexican Retail Sales (YoY)

3.5%

 

6.5%

 

7.5%

 
 

 

USD

 
 
 

Existing Home Sales

4.57M

 

4.67M

 

4.38M

 
 

Sovereign Bond Auction Schedule

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
79.0767
79.3468
79.7597
80.0298
80.4427
80.7128
81.1257

Fibonacci
79.3468
79.6077
79.7689
80.0298
80.2907
80.4519
80.7128

Camarilla
79.9847
80.0473
80.1099
80.0298
80.2351
80.2977
80.3603

Woodie's
-
79.3825
79.8310
80.0655
80.5140
80.7485
-

DeMark's
-
-
80.5777
80.0974
79.8948
-
-