Economic Events: (GMT)
Feb. 20 00:01 GBP Rightmove House Price Index (MoM)
07:00 EUR German Import Price Index (MoM)
07:00 CHF Trade Balance
08:15 CHF Employment Level
23:50 JPY Trade Balance
The Trade Balance measures the difference in value between imported and exported goods and services over the reported period. A positive number indicates that more goods and services were exported than imported.
A higher than expected reading should be taken as positive/bullish for the JPY, while a lower than expected reading should be taken as negative/bearish for the JPY.
EUR/GBP Fundamental Analysis February 20, 2012, Forecast
Analysis and Recommendations:
The pair EUR/GBP is currently 0.8321 up 0.0011.
The increased risk appetite is returning to the markets, after the ECB announced a bond swap with Greece and Merkel and Monti noted that there could be a deal as soon as Monday, but we have all heard this before.
Euro-zone construction output edged up for the second month running in December, but that wasn’t enough to stop a contraction in the fourth quarter overall. The European Union’s statistics agency said overall construction output in the 17 countries that use the euro rose.
Banks’ emergency overnight borrowing from the European Central Bank fell further Thursday, illustrating the reduced market tensions since the ECB flooded the banking system with liquidity via its first three-year loan operation
Swedish economic growth in 2012 will probably be much lower than the government’s 1.3% forecast last autumn, Swedish Finance Minister Anders Borg told reporters Friday. “The Riksbank and the commercial banks expect growth of around half a percent.
Retail sales in the U.K. rose unexpectedly last month, official data showed on Friday.
Tensions are still high in the eurozone between Greece, Athens and Brussels.
Friday February 17, 2012 Economic Reports actual v. forecast
|
SGD |
Singaporean Trade Balance |
1.26B |
7.61B |
|
|
EUR |
German PPI (MoM) |
0.6% |
0.2% |
-0.4% |
|
EUR |
Current Account |
2.0B |
2.3B |
-0.9B |
|
GBP |
Retail Sales (MoM) |
0.9% |
-0.2% |
0.6% |
|
BRL |
Brazilian Unemployment Rate |
5.5% |
5.4% |
4.7% |
|
Core CPI (MoM) |
0.2% |
0.1% |
-0.5% |
|
|
CAD |
CPI (MoM) |
0.4% |
0.3% |
-0.6% |
|
USD |
Core CPI (MoM) |
0.2% |
0.3% |
0.1% |
|
USD |
CPI (MoM) |
0.2% |
0.3% |
0.0% |
|
CAD |
Leading Indicators (MoM) |
0.7% |
0.6% |
0.7% |
Sovereign Bond Auction Schedule
Feb 20-24 n/a UK 0.375% 2062 I/L Gilt syndication
Feb 20 10:10 Norway Nok 3bn 4.5% May 2019 DSL
Feb 20 10:10 Slovakia Eur 0.15bn Apr 2014 & Eur 0.05bn Nov 2016 bonds
Feb 21 09:30 Spain 3 & 6M T-bill auction
Feb 21 15:30 UK Details gilt auction on Mar 01
Feb 21 18:00 US Auctions 2Y Notes
Feb 22 10:10 Sweden Nominal bond auction
Feb 22 10:30 Germany Eur 5.0bn Mar 2014 Schatz
Feb 22 16:30 Italy Details CTZ/BTPei on Feb 24 & BOT on Feb 27
Feb 22 18:00 US Auctions 5Y Notes
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
