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

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

Classic
79.9827
80.4578
80.7007
81.1758
81.4187
81.8938
82.1367

Fibonacci
80.4578
80.7321
80.9016
81.1758
81.4501
81.6196
81.8938

Camarilla
80.7460
80.8119
80.8777
81.1758
81.0093
81.0751
81.1410

Woodie's
-
80.3997
80.5845
81.1178
81.3025
81.8358
-

DeMark's
-
-
81.2973
81.1151
80.5793
-
-