By FXEmpire.com
EUR/CHF Fundamental Analysis March 20, 2012, Forecast
Analysis and Recommendations:
EUR/CHF is trading in a tight range, holding at 1.2062 with a high today of 1.2066 and a low of 1.2060. There was little life in this duo, a bit of movement by the euro but otherwise nothing.
In euro zone debt news, Investors were awaiting the outcome of the final stage of Greece’s debt restructuring deal, ahead of an auction to determine the payout on Greek credit default swaps.
Greece is more than halfway down the path to economic recovery and should be able to return to growth in less than two years, Lucas Papademos, the country’s caretaker prime minister, said in an interview published by the Financial Times.
Greek Finance Minister Evangelos Venizelos will resign from the government after being elected Sunday to head the Socialist party Pasok in national elections expected in late April or early May, news reports said Monday.
The initial phase of an auction to settle credit default swap, or CDS, contracts on Greek government debt was completed Monday morning, setting an initial market midpoint at 21.75, according to Creditex.
Tuesday will not be more exciting, as long as nothing crops up with Spain or Portugal; the markets are looking at a very quiet week. Time to recover
Economic Data for March 19, 2012 actual v. forecast
|
GBP |
Rightmove House Price Index (MoM) |
1.6% |
4.1% |
|
|
AUD |
RBA Governor Stevens Speaks |
|||
|
EUR |
Current Account |
4.5B |
4.3B |
3.4B |
|
EUR |
Italian Industrial New Orders (MoM) |
-7.4% |
-3.8% |
5.2% |
|
CLP |
Chilean GDP (YoY) |
4.5% |
4.2% |
3.7% |
|
Wholesale Sales (MoM) |
-1.0% |
0.4% |
1.0% |
|
|
USD |
NAHB Housing Market Index |
28 |
30 |
28 |
|
USD |
3-Month Bill Auction |
0.095% |
0.095% |
Economic Events Scheduled for March 20, 2012 Europe and Americas
09:15 CHF Industrial Production (QoQ)
Industrial Production measures the change in the total inflation-adjusted value of output produced by manufacturers, mines, and utilities.
10:30 GBP Core CPI (YoY)
10:30 GBP CPI (YoY)
The Core Consumer Price Index (CPI) measures the changes in the price of goods and services, excluding food and energy. The CPI measures price change from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.
12:00 GBP CBI Industrial Trends Orders
The Confederation of British Industry (CBI) Industrial Trends Orders measures the economic expectations of the manufacturing executives in the U.K. It is a leading indicator of business conditions. A level above zero indicates order volume is expected to increase; a level below zero indicates expectations are for lower volumes. The reading is compiled from a survey of about 550 manufacturers.
13:30 USD Building Permits
Building Permits measures the change in the number of new building permits issued by the government. Building permits are a key indicator of demand in the housing market.
13:30 USD Housing Starts
Housing starts measures the change in the annualized number of new residential buildings that began construction during the reported month. It is a leading indicator of strength in the housing sector.
Government Bond Auctions (this week)
Mar 21 10:10 Sweden Nominal bond auction
Mar 21 10:30 Germany Eur 5.0bn Mar 2014 Schatz
Mar 21 10:30 Portugal Eur 0.75-1.0bn 4 & 6M T-bills
Mar 22 10:10 Sweden I/L bond auction
Mar 22 10.30 UK Auctions 0.625% 2042 I/L Gilt
Mar 22 15:00 US
Announces auctions of 2Y Notes on Mar 27, 5Y Notes on Mar
28 & 7Y Notes on Mar 29
Originally posted here
