Economic Events: (GMT)
Feb 26 GMT
21:45 NZD Trade Balance
The Trade Balance measures the difference in value between imported and exported goods and services over the reported period. A positive number indicates that more goods and services were exported than imported.
A higher than expected reading should be taken as positive/bullish for the NZD, while a lower than expected reading should be taken as negative/bearish for the NZD.
23:50 JPY Retail Sales (YoY)
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.
A higher than expected reading should be taken as positive/bullish for the JPY, while a lower than expected reading should be taken as negative/bearish for the JPY.
USD/JPY Fundamental Analysis February 27, 2012, Forecast
Analysis and Recommendation: (close of Asian session)
USD/JPY was trading at 80.38, the USD weakened as crude oil and gold prices continued to climb up but began to add strength during the Asian trading session. Positive economic data came from the US on Thursday, while Friday morning the CSPI in Japan reported below forecast.
Japan's central-bank governor offered a reminder Thursday of the risks facing the nation's banks from a concentration of Japanese government-bond holdings.
Japan's banks have continued to pour money into government debt, despite near-record-low yields and the nation's deteriorating fiscal conditions. But any sudden rise in interest rates could expose the banks to trillions of yen in losses, Bank of Japan Gov. Masaaki Shirakawa said in response to a lawmaker's question at a parliamentary committee on the strong yen and deflation.
As the yen finally weakens against the dollar, Japan's exporting manufacturers are sitting on potential operating-profit gains that could be worth billions of dollars
US unemployment data today showed the week ending February 18, the advance figure for seasonally adjusted initial claims was 351,000, unchanged from the previous week's revised figure of 351,000. The 4-week moving average was 359,000, a decrease of 7,000 from the previous week's revised average of 366,000.
February 23, 2012 (GMT) economic results actual v. forecast
Taiwanese Industrial Production (YoY)
Hong Kong Trade Balance
German Ifo Business Climate Index
German Current Assessment
German Business Expectations
Italian Consumer Confidence
BBA Mortgage Approvals
CBI Industrial Trends Orders
Initial Jobless Claims
Corporate Profits (QoQ)
Continuing Jobless Claims
Bloomberg Consumer Confidence
House Price Index (MoM)
Natural Gas Storage
Crude Oil Inventories
BoC Gov Carney Speaks
Venezuelan Industrial Production (YoY)
Venezuelan Retail Sales (YoY)
South Korean Consumer Confidence
RBA Governor Stevens Speaks
Sovereign Bond Auction Schedule
Feb 27-Mar 02 n/a UK Mini Tender
Feb 27 10:10 Italy BOT auction
Feb 27 10:30 Germany Eur 3.0bn Feb 2013 Bubill
Feb 27 11:00 Belgium OLO Auction
Feb 27 12:00 Norway Details bond auction on May 05
Feb 28 01:30 Japan Auctions 2Y JGBs
Feb 28 10:10 Italy BTP/CCTeu auction
Feb 28 10:30 Belgium Auctions 3 & 6M T-bills
Feb 28 15:30 UK Details gilt auctions on Mar 06 & Mar 07
Feb 29 10:10 Sweden Auctions T-bills
Feb 29 10:30 Germany Eur 4.0bn 2.0% Jan 2022 Bund
Feb 29 15:30 Sweden Details nominal bond auction on Mar 07
Mar 01 09:30 Spain Bono auction
Mar 01 09:50 France OAT auction
Mar 01 10.30 UK Auctions 4.0% 2022 conventional Gilt
USD/JPY Pivot Points (Time Frame: 1 Day)
Name S3 S2 S1 Pivot R1 R2 R3