USD/CHF Fundamental Analysis March 22, 2012, Forecast

By FXEmpire.com

Analysis and Recommendations:

The USD/CHF trading at 0.9143 up from the opening of 0.9118 as the USD picked up steam in today’s trading session. The USD moved up against most of its major trading partners, on the back to back positive testimony by Bernanke and Geithner. As well as an existing home sales report, that came in slightly under forecast but had a silver lining, showing life in the real estate markets.

In Europe today, the only data effecting the Franc was report from the RWI economic institute raised its forecast for the country’s 2012 economic growth Wednesday, but warned that risks to the outlook remain significant. Germany’s economy is likely to grow 1.0% in 2012, up from a December forecast of 0.6%

This pair will most likely say in this trading range for the rest of the week.

Economic Data March 21, 2012 actual v. forecast

Mar. 21	00:30	AUD	MI Leading Index (MoM)	0.6%	0.7%
03:00	NZD	Credit Card Spending (YoY)	4.0%	3.1%
05:30	JPY	All Industries Activity Index (MoM)	-1.0%	-0.5%	1.6%
08:30	THB	Thai Trade Balance	0.52B	-0.10B	-0.20B
08:30	THB	Thai Interest Rate Decision	3.00%	3.00%	3.00%
10:30	GBP	MPC Meeting Minutes
10:30	GBP	Public Sector Net Borrowing	12.9B	5.2B	-10.2B
11:30	EUR	German 2-Year Schatz Auction	0.310%	0.250%
12:00	USD	MBA Mortgage Applications	-7.4%	-2.4%
13:30	CAD	Leading Indicators (MoM)	0.6%	0.6%	0.4%
14:30	USD	Fed Chairman Bernanke Testifies
15:00	USD	Existing Home Sales	4.59M	4.61M	4.63M
15:00	MXN	Mexican Retail Sales (YoY)	4.4%	4.0%	3.5%

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09:00 EUR French Manufacturing PMI

09:30 EUR German Manufacturing PMI

10:00 EUR Manufacturing PMI

The European, French, and German Manufacturing Purchasing Managers’ Index (PMI) measure the activity level of purchasing managers in the manufacturing sector. A reading above 50 indicates expansion in the sector; below indicates contraction. 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.

10:30 GBP Retail Sales (MoM)

Retail Sales measure the change in the total value of inflation-adjusted sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity.

11:00 EUR Industrial New Orders (MoM)

Industrial New Orders measures the change in the total value of new purchase orders placed with manufacturers. It is a leading indicator of production.

13:30 USD Initial Jobless Claims

13:30 USD Continuing Jobless Claims

Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week. Continuing Jobless Claims measures the number of unemployed individuals who qualify for benefits under unemployment insurance.

17:00 EUR ECB President Draghi Speaks

Mario Draghi (born 3 September1947) is an Italian banker and economist who has been governor of the Bank of Italy and succeeded Jean Claude Trichet as President of the European Central Bank starting November 2011. As head of the ECB, which controls short term interest rates, he has more influence over the EUR value than any other person. His comments may determine a short-term positive or negative trend.

Government Bond Auctions (this week)

Mar 22 10:10 Sweden I/L bond auction

Mar 22 10.30 UK Auctions 0.625% 2042 I/L Gilt

Mar 22 15:00 US

Announces auctions of 2Y Notes on Mar 27, 5Y Notes on Mar

28 & 7Y Notes on Mar 29

Originally posted here