Economic Events: (GMT)
Close of Asian Markets
00:30 AUD NAB Business Confidence 2
The National Australia Bank (NAB) Business Confidence Index rates the current level of business conditions in Australia. Changes in business sentiment can be an early signal of future economic activity such as spending, hiring, and investment. The index is based on data collected from a survey of around 350 companies. A level above zero indicates improving conditions; below indicates worsening conditions.
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.
13:30 USD Employment Cost Index (QoQ) 0.4% 0.3%
The Employment Cost Index measures the change in the price businesses and the government pay for civilian labor.
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.
14:45 USD Chicago PMI 63.0 62.5
15:00 USD CB Consumer Confidence 68.2 64.5
Conference Board (CB) Consumer Confidence measures the level of consumer confidence in economic activity. It is a leading indicator as it can predict consumer spending, which plays a major role in overall economic activity. Higher readings point to higher consumer optimism.
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.
AUD/USD Fundamental Analysis Jan. 31, 2012 Forecast
Analysis and Recommendation:
AUD/USD was trading at 1.0596
The USD was up against its partners in Canada, Australia and New Zealand, with USD/CAD up 0.18% at 1.0035, AUD/USD down 0.62% at 1.0596 and NZD/USD down 0.52% at 0.8204.
The dollar index on Monday regained a bit of ground lost the previous week, although some analysts warned of possible risks ahead for the USD. Trading at 0.27% at 79.16
The dollar index fell 1.7% last week after the FOMC said that it could keep interest rates at low levels until late 2014. The Fed had previously said that rates would stay low until the middle of 2013.
Asian sentiment were concerns about Europe ahead of a leaders’ summit in Brussels later Monday, as questions surrounded Greek finances.
European concerns, a lack of easing measures over the holiday, and comments by Chinese Premier Wen Jiabao vowing to tackle irregularities surrounding local-government debt all helped send banks lower in Hong Kong and weakened Asian currencies.
This is a big week for U.S. data releases, and in turn, the U.S. dollar. Heavyweight data including January payrolls, ISM manufacturing confidence and consumer confidence readings are on tap over coming days
Scheduled Sovereign Bond Sales
Jan 30 10:10 Italy BTP/CCTeu auction
Jan 30 10:10 Norway Nok 4.0bn 5.0% May 2015 bond
Jan 30 11:00 Belgium OLO Auction
Jan 30 12:00 Norway Details bond auction on Feb 06
Jan 31 10:30 Belgium Auctions 3 & 6M T-bills
Jan 31 15:30 UK Details gilt auction on Feb 07
Feb 01 10:10 Sweden Auctions T-bills
Feb 01 10:30 Germany Eur 5.0bn 2.0% Jan 2022 Bund
Feb 01 10:30 Portugal Eur 0.75-1.0bn 3M T-bill
Feb 01 10.30 UK Auctions 5.0% 2025 conventional Gilt
Feb 01 15:30 Sweden Details nominal bond auction on Feb 08
Feb 01 16:00 US
Announces details of 3Y Notes on Feb 07, 10Y Notes on Feb
08 & 30Y Bonds on Feb 09
Feb 02 09:50 France OAT Auction
Feb 02 10.30 UK Auctions 0.125% 2029
Originally posted here
