Economic Events: (GMT)
It is a quiet day for economic data throughout the world.
Feb 23GMT
22:30 AUD RBA Governor Stevens Speaks
Reserve Bank of Australia (RBA) Governor Glenn Stevens (September 2006 – September 2013) is to speak. As the head of the RBA, which sets short term interest rates, he has a major influence over the value of the Australian dollar. Traders watch his speeches closely as they are often used to drop subtle hints regarding future monetary policy and interest rate shifts. After surprising the markets last week and holding rates, today’s comments might have some effects on the Aussie
Analysis and Recommendation: ( close of Asian session )
USD/JPY rose to ?80.24 from ?79.73 in North American trading Tuesday. The pair hasn’t closed above the 80-level since mid-July. During the Asian session to pair rose to end the day at ?80.18
The yen has been on a downward trend recently against the greenback, which has risen 5.1% just in February so far. The USD has been benefiting against the yen as U.S. yields rise, which analysts say has been a bigger factor than actual intervention by Japanese authorities or comments about the currency’s strength.
Wednesday February 22, 2012 Economic Reports actual v. forecast
| AUD |
Wage Price Index (QoQ) |
1.0% |
0.8% |
0.7% |
|
NZD |
Credit Card Spending (YoY) |
3.1% |
5.9% |
|
|
EUR |
French CPI (MoM) |
-0.4% |
0.3% |
0.4% |
|
EUR |
French Manufacturing PMI |
50.2 |
48.7 |
48.5 |
|
EUR |
French Services PMI |
50.3 |
51.9 |
52.3 |
|
EUR |
German Manufacturing PMI |
50.1 |
51.5 |
51.0 |
|
EUR |
German Services PMI |
52.6 |
53.8 |
53.7 |
|
TWD |
Taiwanese GDP (YoY) |
1.9% |
1.9% |
1.9% |
|
EUR |
Italian CPI (MoM) |
0.3% |
0.3% |
0.3% |
|
EUR |
Manufacturing PMI |
49.0 |
49.4 |
48.8 |
|
EUR |
Services PMI |
49.4 |
50.7 |
50.4 |
|
GBP |
MPC Meeting Minutes |
|||
|
EUR |
Industrial New Orders (MoM) |
1.9% |
0.6% |
-1.1% |
|
EUR |
German 2-Year Schatz Auction |
0.250% |
||
|
USD |
MBA Mortgage Applications |
-4.5% |
-1.0% |
|
|
EUR |
Spanish Trade Balance |
-4.50B |
-3.10B |
-2.70B |
|
EUR |
Belgium NBB Business Climate |
-7.7 |
-8.5 |
-9.5 |
|
MXN |
Mexican Retail Sales (YoY) |
3.5% |
6.5% |
7.5% |
|
USD |
Existing Home Sales |
4.57M |
4.67M |
4.38M |
Sovereign Bond Auction Schedule
Feb 24 10:10 Italy Auctions CTZ/BTP
Originally posted here
