Economic Events: (GMT)
00:30 AUD Retail Sales (MoM)
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 AUD, while a lower than expected reading should be taken as negative/bearish for the AUD
19:00 USD Federal Budget Balance
The Federal Budget Balance measures the difference in value between the federal government's income and expenditure during the reported month. A positive number indicates a budget surplus, a negative number indicates a deficit.
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.
21:45 NZD Employment Change (QoQ) 0.2%
Employment Change measures the change in the number of people employed. Job creation is an important indicator of consumer spending.
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.
21:45 NZD Labor Cost Index (QoQ)
21:45 NZD Unemployment Rate 6.6%
The Labor Cost Index measures the change in the price businesses pay for labor, excluding overtime. It is a leading indicator of consumer inflation.
The Unemployment Rate measures the percentage of the total work force that is unemployed and actively seeking employment during the previous quarter.
A higher than expected reading should be taken as negative/bearish for the NZD, while a lower than expected reading should be taken as positive/bullish for the NZD.
Analysis and Recommendation: ( close of Asian session )
Japanese Finance Minister Azumi raised fresh warnings over the strength of the yen, saying low U.S. interest rates were a factor in an acceleration in speculative yen buying, according to reports. Azumi told reporters in Tokyo that the rise in the currency appeared one-sided and said decisive steps could be taken to halt the movement, adding he had strong concerns the rally had lost touch with economic reality in Japan. I will closely watch market movement and take appropriate action. There is no change in my stance. If there is one-sided movement, I will take decisive steps, Azumi said. The U.S. dollar rose slightly to ¥76.18 around midday in Tokyo, but the U.S. dollar remained near its post-World-War-II low of ¥75.31, hit on Oct. 31.
Economic Data results prior trading day ( key better than expected worse than expected at forecast )
NZD ANZ Commodity Price Index (MoM) 1.2% -0.8%
AUD Building Approvals (MoM) -1.0% 2.1% 10.1%
AUD Trade Balance 1.71B 1.20B 1.34B
CHF Trade Balance 2.07B 2.85B 2.95B
GBP Construction PMI 51.4 52.9 53.2
EUR PPI (MoM) -0.2% -0.1% 0.2%
USD Challenger Job Cuts (YoY) 38.9% 30.6%
USD Nonfarm Productivity (QoQ) 0.7% 1.0% 1.9%
USD Initial Jobless Claims 367K 373K 379K
USD Unit Labor Costs (QoQ) 1.2% 0.9% -2.1%
USD Continuing Jobless Claims 3437K 3565K 3567K
Scheduled Sovereign Bond Sales
Feb 06 10:10 Norway Bond auction
Feb 07 09:00 Netherlands Eur 5.0bn Jul 2022 DSL
Feb 07 10:10 Greece 6M T-bill auction
Feb 07 10.30 UK Auctions 1.75% 2017 conventional Gilt
Feb 07 15:30 UK Details gilt auction on Feb 16
Feb 07 18:00 US Auctions 3Y Notes
Feb 08 10:10 Sweden Nominal bond auction
Feb 08 10:30 Germany Eur 4.0bn Feb 2017 Bobl
Feb 08 10:30 Swiss Bond auction
Feb 08 16:30 Italy Details BOT auction on Feb 13
Feb 08 18:00 US Auctions 10Y Notes
Feb 09 10:10 Sweden Sek 0.75bn I/L bond auction
Feb 09 15:30 Sweden Details I/L bond auction on Mar 23
Feb 09 16:00 US Announces auctions of 30Y TIPS on Feb 16
Feb 09 16:30 Italy Details BTP/CCTeu auction on Feb 14
Feb 09 18:00 Italy Auctions 30Y Bonds
Feb 10 11:00 Belgium OLO auction
USD/JPY Pivot Points (Time Frame: 1 Day)
Name S3 S2 S1 Pivot R1 R2 R3