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.

width=150Analysis and Recommendation: ( close of Asian session )

USD/JPY was trading  at 76.20 holding close to its opening and in a tight narrow range.

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

Classic
75.8413
75.9432
76.0663
76.1682
76.2913
76.3932
76.5163

Fibonacci
75.9432
76.0291
76.0822
76.1682
76.2541
76.3072
76.3932

Camarilla
76.1276
76.1483
76.1689
76.1682
76.2101
76.2308
76.2514

Woodie's
-
75.9485
76.0770
76.1735
76.3020
76.3985
-

DeMark's
-
-
76.3423
76.1936
76.1172
-
-