Economic Events: (GMT)
13:30 USD Core Durable Goods Orders (MoM) 0.0% 2.2%
13:30 USD Durable Goods Orders (MoM) -0.8% 3.0%
Durable Goods Orders measures the change in the total value of new orders for long lasting manufactured goods, including transportation items.
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.
15:00 USD CB Consumer Confidence 63.0 61.1
Conference Board (CB) Consumer Confidence measures the level of consumer confidence in economic activity. It is a leading indicator as it can predict consumer spending, which plays a major role in overall economic activity. Higher readings point to higher consumer optimism.
21:45 NZD Building Consents (MoM) 3.4% 2.1%
Building Consents (also known as Building Permits) measures the change in the number of new building consents issued by the government. Building consents are a key indicator of demand in the housing market.
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 Industrial Production (MoM) 1.5% 3.8%
Industrial Production measures the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities.
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 28, 2012, Forecast
Analysis and Recommendation: (close of Asian session)
USD/JPY was trading at 81.14 opening the week at 81.27. The yen continues to dominate a weakened dollar. The dollar has been down on crude oil prices as well as the geopolitical tensions between the US, Iran and Israel. The euro has also been weighing down the dollar against its trading partners. The G20 Summit produced no results, basically the non eurozone members sent the EU running back home, saying they would only help after the EU put up their money to ringfence the contagion that might come from problems in the zone. The nations promised to increase their funding of the IMF after EU made some definitive progress.
In Japan, a Finance Ministry official said the upward pressure on the yen was easing and he saw nothing strange in the currency's movements as it pulls away from record highs below 80 yen against the dollar.
Sovereign Bond Auction Schedule
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