Economic Events: (GMT)
09:00 EUR ECB Monthly Report
The European Central Bank’s (ECB) monthly report contains the statistical data that policymakers evaluate when setting interest rates. The report also provides detailed analysis of current and future economic conditions from the bank’s perspective.
EUR/CHF Fundamental Analysis February 16, 2012, Forecast
Analysis and Recommendations:
EUR/CHF is trading at 1.2068 falling closer to the danger zone again. The SNB continues to assure markets that it will intervene if the pair drop to the 1.20 level. The pair dropped at 1.2067 and was trading as high as 1.2084 but continues to decline in late trading.
The problems with Greece are weighing heavily on the euro. As well as downgrades from throughout the eurozone.
Standard & Poor’s Ratings Services on lowered the ratings of seven Portuguese financial institutions, including Banco Santander Totta SA, Banco BPI SA, Caixa Geral de Depositos SA, and Banco Comercial Portugues SA.
Data showed that France’s gross domestic product grew 0.2% in the final quarter of 2011, which exceeded analyst expectations.
GDP in the euro zone overall contracted 0.3% for the fourth quarter, shallower than economists’ expectations of a 0.4% slowdown.
In Germany, a report showed that Europe’s largest economy shrank less than expected in the final three months of 2011, contracting a seasonally adjusted 0.2%.
German gross domestic product shrank by a seasonally- and calendar-adjusted 0.2% in the fourth quarter of 2011 compared to the previous three months, the federal statistics office, Destatis, reported Wednesday. Compared to the final quarter of 2010, Europe’s largest economy grew by 2%.
The Italian economy contracted for a second consecutive quarter in the final three months of 2011, meeting a widely-used definition of recession, official data showed Wednesday.
There was no support for the euro in today’s trading.
Wednesday Economic Data actual v. forecast
|
AUD |
New Motor Vehicle Sales (MoM) |
1.3% |
-2.7% |
|
|
KRW |
South Korean Trade Balance |
-2.03B |
-1.96B |
|
|
JPY |
||||
|
SGD |
Singaporean Retail Sales (YoY) |
4.2% |
7.0% |
6.2% |
|
EUR |
French GDP (QoQ) |
0.2% |
-0.2% |
0.3% |
|
EUR |
German GDP (QoQ) |
-0.2% |
-0.3% |
0.6% |
|
EUR |
Spanish CPI (YoY) |
2.0% |
2.0% |
2.4% |
|
SEK |
Swedish GDP (QoQ) |
3.4% |
2.1% |
3.0% |
|
HUF |
Hungarian GDP (YoY) |
1.4% |
0.5% |
1.4% |
|
CZK |
Czech GDP (QoQ) |
0.5% |
0.7% |
1.2% |
|
EUR |
Austrian GDP (YoY) |
1.2% |
2.5% |
|
|
EUR |
Netherlands GDP (YoY) |
-0.7% |
0.3% |
1.1% |
|
EUR |
Italian GDP (QoQ) |
-0.7% |
-0.6% |
-0.2% |
|
GBP |
Average Earnings Index +Bonus |
2.0% |
1.8% |
2.0% |
|
GBP |
Claimant Count Change |
6.9K |
3.2K |
1.9K |
|
GBP |
Unemployment Rate |
8.4% |
8.4% |
8.4% |
|
EUR |
GDP (QoQ) |
-0.3% |
-0.4% |
0.1% |
|
EUR |
Trade Balance |
7.5B |
4.7B |
6.1B |
|
CHF |
ZEW Expectations |
-21.2 |
-50.1 |
|
|
MYR |
5.2% |
4.5% |
5.8% |
|
|
GBP |
BoE Inflation Report |
|||
|
GBP |
BoE Gov King Speaks |
|||
|
USD |
MBA Mortgage Applications |
-1.0% |
7.5% |
|
|
PLN |
Polish CPI (YoY) |
4.1% |
4.3% |
4.6% |
|
USD |
NY Empire State Manufacturing Index |
19.5 |
14.2 |
13.5 |
|
USD |
TIC Net Long-Term Transactions |
17.9B |
62.3B |
61.3B |
Sovereign Bond Auction Schedule Feb 13-17
Feb 16 09:30 Spain Obligacion auction
Feb 16 10.30 UK Auctions 4.5% 2034 conventional Gilt
Feb 16 10:50 France BTA/OATi auction
Feb 16 16:00 US
Announces auctions of 2Y Notes on Feb 21, 5Y Notes on Feb
22 & 7Y Notes on Feb 23
Feb 16 18:00 US Auctions 30Y TIPS
Originally posted here
