Economic Events: (GMT)
15:00 CAD Ivey PMI
The Ivey Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in Canada. A reading above 50 indicates expansion; a reading below 50 indicates contraction. The index is a joint project of the Purchasing Management Association of Canada and the Richard Ivey School of Business. Traders watch these surveys closely as purchasing managers usually have early access to data about their company’s performance, which can be a leading indicator of overall economic performance.
A higher than expected reading should be taken as positive/bullish for the CAD, while a lower than expected reading should be taken as negative/bearish for the CAD.
19:00 USD Federal Budget Balance
The Federal Budget Balance measures the difference in value between the federal government’s income and expenditure during the reported month. A positive number indicates a budget surplus, a negative number indicates a deficit.
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.
Economic Data results prior trading day ( key better than expected worse than expectedat forecast )
|
USD |
Monster Employment Index |
133 |
140 |
|
|
EUR |
French Services PMI |
52.3 |
51.7 |
51.7 |
|
EUR |
German Services PMI |
53.7 |
54.5 |
54.5 |
|
EUR |
Services PMI |
50.4 |
50.5 |
50.5 |
|
GBP |
Services PMI |
56.0 |
53.5 |
54.0 |
|
EUR |
Italian CPI (MoM) |
0.3% |
0.2% |
0.4% |
|
EUR |
Retail Sales (MoM) |
-0.4% |
0.4% |
-0.4% |
|
CAD |
Employment Change |
2.3K |
24.0K |
17.5K |
|
CAD |
Unemployment Rate |
7.6% |
7.5% |
7.5% |
USD/CAD Fundamental Analysis February 6, 2012, Forecast
Analysis and Recommendations:
The USD/CAD is currently trading at 99.35
The USD soared past all of its major trading partners today after jobs reports beat forecasts in the US.
The US added 243,000 jobs as reported by the Labor Department for the first time since April. The unemployment rate dropped to 8.3 percent, the lowest since February 2009.This was the boost the US needed to signal that the economy was recovering.
Where as Canadian unemployment increased to 7.6% and the jobs report came in under forecast. Weakening the CAD
Scheduled Sovereign Bond Sales
Feb 06 10:10 Norway Bond auction
Feb 07 09:00 Netherlands Eur 5.0bn Jul 2022 DSL
Feb 07 10:10 Greece 6M T-bill auction
Feb 07 10.30 UK Auctions 1.75% 2017 conventional Gilt
Feb 07 15:30 UK Details gilt auction on Feb 16
Feb 07 18:00 US Auctions 3Y Notes
Feb 08 10:10 Sweden Nominal bond auction
Feb 08 10:30 Germany Eur 4.0bn Feb 2017 Bobl
Feb 08 10:30 Swiss Bond auction
Feb 08 16:30 Italy Details BOT auction on Feb 13
Feb 08 18:00 US Auctions 10Y Notes
Feb 09 10:10 Sweden Sek 0.75bn I/L bond auction
Feb 09 15:30 Sweden Details I/L bond auction on Mar 23
Feb 09 16:00 US Announces auctions of 30Y TIPS on Feb 16
Feb 09 16:30 Italy Details BTP/CCTeu auction on Feb 14
Feb 09 18:00 Italy Auctions 30Y Bonds
Feb 10 11:00 Belgium OLO auction
Originally posted here
