Economic Events: (GMT)
13:30 USD Initial Jobless Claims 354K 348K
13:30 USD Continuing Jobless Claims 3460K 3426K
Initial Jobless Claims and Continuing Jobless Claims measure the number of unemployed individuals who qualify for benefits under unemployment insurance.
A higher than expected reading should be taken as negative/bearish for the USD, while a lower than expected reading should be taken as positive/bullish for the USD.
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
AUD/USD Fundamental Analysis February 23, 2012 Forecast
Analysis and Recommendation: (close of Asian session)
AUD/USD was trading at 1.0668, The Australian dollar was lower today, failing to gain ground despite the approval of a Greek bailout package.
On Tuesday, euro zone ministers approved the delivery of a second aid package to help prevent Greece from defaulting on its debts.
Markets have had a lukewarm reaction to the much-awaited decision because economists only give the deal a small chance of sufficiently helping the Greek economy and alleviating its financial crisis.
Data released today for the Wage Price Index which measures the change in the price businesses and the government pays for labor, excluding bonuses. It is a leading indicator of consumer price inflation. The report showed an unexpected increase which was positive for Aussie; markets were expecting an increase of 0.8% while the report showed an increase to 1.0%.
The Aussie is just waiting for something to set it on fire; it is due to rise, on the back of the Chinese reserve drop and overall strong economic signs from Oz.
February 21, 2012 Economic Reports actual v forecast
|
NZD |
Inflation Expectations (QoQ) |
2.5% |
2.8% |
|
|
AUD |
RBA Governor Stevens Speaks | |||
|
JPY |
All Industries Activity Index (MoM) |
1.3% |
1.5% |
-1.0% |
|
CHF |
Trade Balance |
1.55B |
2.50B |
2.01B |
|
GBP |
Public Sector Net Borrowing |
-10.7B |
-9.1B |
11.1B |
|
TRY |
Turkish Interest Rate Decision |
5.75% |
5.75% |
5.75% |
| Core Retail Sales (MoM) |
0.0% |
0.2% |
0.4% |
|
|
CAD |
Retail Sales (MoM) |
-0.2% |
-0.2% |
0.4% |
|
CAD |
Wholesale Sales (MoM) |
0.9% |
0.5% |
-0.3% |
|
USD |
Chicago Fed National Activity |
0.22 |
0.22 |
0.54 |
|
EUR |
Consumer Confidence |
-20 |
-20 |
-21 |
|
USD |
2-Year Note Auction |
0.250% |
||
|
ARS |
Argentinian Unemployment Rate |
7.3% |
7.2% |
Sovereign Bond Auction Schedule
Feb 23 10:10 Sweden Sek 0.75bn I/L bond auction
Feb 23 16:30 Italy Details BTP/CCTeu on Feb 28
Feb 23 18:00 US Auctions 7Y Notes
Feb 24 10:10 Italy Auctions CTZ/BTP
Originally posted here
