Archive for February 21st, 2010

 

USD Mixed, Report of 25bln Aid Plan for Greece Denied

Feb 21, 2010 in Grow Financially, Investment Protection, Opportunities

The USD starts the week mixed to a bit firmer as the German finance Ministry denies report that the EU plans 25bln rescue plan for Greece, the USD had been weakening in early overseas trade pressured by a slight improvement in risk sentiment as Asian equity markets rise and in…

Welcome to a State of Flux

Feb 21, 2010 in Grow Financially, Investment Protection, Opportunities

The gains in the dollar inspired by the Fed’s unexpected discount rate move last week appear to have abated. Most players appear comprehend the accompanying message that the action is merely a technical adjustment. In that respect Governor Bernanke’s semi-annual appearance in front of Congress at this week’s Humphrey Hawkins…

USDJPY: Threatens The 91.27 Level

Feb 21, 2010 in Grow Financially, Investment Protection, Opportunities

With the pair now consolidating, pressure is now mounting on its broken falling channel resistance and the 91.27 level, its Feb 03?10 high as it was seen weakening slightly through there in early trading today. On further losses, we should see the pair target the 89.69 level, representing its Feb…

EURUSD: Corrective Recovery On The Cards

Feb 21, 2010 in Grow Financially, Investment Protection, Opportunities

EUR is currently trading off its session high (1.3652) and maintaining an offered tone which suggests further downside weakness could follow. However, we are cautious of its current price action as its inability to hold below the 1.3530 level the past week could be heralding another attempt on higher corrective…

The Power Of Canadian Dollars

Feb 21, 2010 in Grow Financially, Investment Protection, Opportunities

The four hour trend is short. The 1.0550 area has been important in recent 4 hour chart trade, and now will act as resistance that may struggle to get broken if oil traders hold crude above 77.50. Targets are in the 1.0300 range and lower if equities and commodities find…

Asian Markets Rally – Euro Hovers

Feb 21, 2010 in Grow Financially, Investment Protection, Opportunities

Asian markets were generally stronger today with the exception of the SSE composite which was off last week for the Chinese lunar new year. The Nikkei hit 3 week highs after US markets closed out a second week of gains on Friday following 4 weeks of decline. Markets in the…

FX Thoughts for the Day

Feb 21, 2010 in Grow Financially, Investment Protection, Opportunities

The Cable was extremely ranged through the day between 1.5450-1.5500. The Support of the 55-MA on 1H at 1.5507 has held and if continues to hold during the US session as well, the pair may come down towards the range Support at 1.5400 mentioned in the morning. The view is…

Forex Economic Calendar

Feb 21, 2010 in Grow Financially, Opportunities

Date Time* Source Description Forecast Previous
2/22/2010 00:30 AUS New Motor Vehicle Sales YoY n/a 17.2%
2/22/2010 07:00 JPN Convenience Store Sales YoY n/a -5.5%
2/22/2010 13:30 US Chicago Fed Nat Activity Index -0.19 -0.61
2/22/2010 15:30 US Dallas Fed Manf. Activity 10.0% 8.3%
2/22/2010 23:50 JPN BoJ Monetary Policy Meeting Minutes for Jan. n/a n/a
2/23/2010 00:00 JPN Cabinet Office Monthly Economic Report n/a n/a
2/23/2010 07:00 AUS RBA Deputy Bank Governor Battellino speaks in Sydney n/a n/a
2/23/2010 09:00 GE IFO n/a n/a
2/23/2010 09:30 UK BBA Loans for House Purchase 43000 45897
2/23/2010 14:00 US S&P/CS Composite-20 YoY -3.0% -5.3%
2/23/2010 15:00 US Consumer Confidence 56.0 55.9
2/23/2010 15:00 US Richmond Fed Manufact. Index 1 -2
2/23/2010 22:00 US ABC Consumer Confidence n/a n/a
2/23/2010 23:00 AUS Conference Board Leading Index n/a -0.3%
2/23/2010 23:50 JPN Corp Service Price (YoY) -1.1% -1.5%
2/24/2010 00:30 AUS Wage Cost Index YoY n/a 3.6%
2/24/2010 02:00 NZ RBNZ 2yr Inflation Expectation n/a 2.6%
2/24/2010 05:00 JPN Small Business Confidence n/a 41.3
2/24/2010 07:00 GE GDP nsa (YoY) -1.7% -1.7%
2/24/2010 10:00 EU Industrial New Orders SA (YoY) 7.6% -0.5%
2/24/2010 15:00 US New Home Sales 352K 342K
2/24/2010 15:00 US Testimony–Chairman Ben S. Bernanke n/a n/a
2/25/2010 00:30 AUS Private Capital Expenditure n/a -3.9%
2/25/2010 02:00 NZ Money Supply M3 YoY n/a -1.1%
2/25/2010 08:55 GE Unemployment Change (000′s) 16K 6K
2/25/2010 09:00 EU Euro-Zone M3 s.a. (YoY) 0.0% -0.2%
2/25/2010 09:30 UK Total Business Investment (YoY) -18.5% -19.9%
2/25/2010 10:00 EU Business Climate Indicator n/a -1.12
2/25/2010 11:00 UK U.K. CBI February Distributive Trades n/a n/a
2/25/2010 13:30 US Durable Goods Orders 1.5% 0.3%
2/25/2010 13:30 US Initial Jobless Claims n/a n/a
2/25/2010 13:30 US Continuing Claims n/a n/a
2/25/2010 14:00 US Testimony–Chairman Ben S. Bernanke n/a n/a
2/25/2010 15:00 US House Price Index MoM 0.4% 0.7%
2/25/2010 21:45 NZ Trade Balance n/a 2M
2/25/2010 23:15 JPN Nomura/JMMA Manufacturing PM n/a 52.5
2/25/2010 23:30 JPN Tokyo CPI YoY -2.0% -2.1%
2/25/2010 23:50 JPN Industrial Production YoY% 16.5% 5.1%
2/26/2010 00:01 UK GfK Consumer Confidence Survey -17 -17
2/26/2010 00:30 AUS Private Sector Credit YoY% n/a 1.5%
2/26/2010 05:00 JPN Housing Starts (YoY) -11.6% -15.7%
2/26/2010 09:30 UK GDP (YoY) -3.1% -3.2%
2/26/2010 10:00 EU Euro-Zone CPI (YoY) 1.0% 0.9%
2/26/2010 13:30 CA Current Account (BOP) n/a -$13.1B
2/26/2010 13:30 US GDP Price Index 0.6% 0.6%
2/26/2010 14:45 US Chicago Purchasing Manager 58.5 61.5
2/26/2010 14:55 US U. of Michigan Confidence 74.0 73.7
2/26/2010 15:00 US NAPM-Milwaukee n/a 56.0
2/26/2010 21:15 US Bloomberg FCI Monthly n/a n/a
2/28/2010 21:45 NZ Visitor Arrivals n/a 8.5%
2/28/2010 22:30 AUS AiG Performance of Mfg Index n/a 51.0
2/28/2010 23:30 AUS TD Securities Inflation YoY% n/a 2.6%
3/1/2010 00:01 UK Hometrack Housing Survey (YoY) n/a -0.8%
3/1/2010 00:30 AUS Current Account Balance n/a -16183M
3/1/2010 02:00 NZ ANZ Commodity Price n/a 0.4%
3/1/2010 05:30 AUS RBA Commodity Index SDR YoY% n/a -11.7%
3/1/2010 08:55 GE PMI Manufacturing n/a 57.1
3/1/2010 09:00 EU PMI Manufacturing n/a 54.1
3/1/2010 09:30 UK M4 Money Supply (YoY) n/a 5.1%
3/1/2010 10:00 EU Euro-Zone Unemployment Rate n/a 10.0%
3/1/2010 13:30 CA Gross Domestic Product MoM 0.4% 0.4%
3/1/2010 13:30 US PCE Core (YoY) n/a 1.5%
3/1/2010 15:00 US ISM Manufacturing 57.6 58.4
3/1/2010 23:30 JPN Jobless Rate n/a 5.1%
3/1/2010 23:50 JPN Monetary Base (YoY) n/a 4.9%
3/2/2010 00:30 AUS Building Approvals (YoY) n/a 53.3%
3/2/2010 03:30 AUS RBA CASH TARGET 3.75% 3.75%
3/2/2010 09:30 UK PMI Construction n/a 48.6
3/2/2010 10:00 EU Euro-Zone PPI (YoY) n/a -2.9%
3/2/2010 14:00 CA Bank of Canada Rate n/a 0.25%
3/2/2010 19:00 US Fed’s Beige Book n/a n/a
3/2/2010 22:00 US ABC Consumer Confidence n/a n/a
3/2/2010 22:30 AUS AiG Performance of Service Index n/a 47.4
3/2/2010 22:50 JPN Loans & Discounts Corp YoY n/a -3.1%
3/3/2010 00:01 UK Nationwide Consumer Confidence n/a 73
3/3/2010 00:30 AUS GDP (YoY) n/a 0.6%
3/3/2010 01:30 JPN Labor Cash Earnings YoY n/a -5.9%
3/3/2010 08:55 GE PMI Services n/a 51.7
3/3/2010 09:00 EU PMI Services n/a 52.0
3/3/2010 09:30 UK Official Reserves (Changes) n/a -$250M
3/3/2010 10:00 EU Euro-Zone Retail Sales (YoY) n/a -1.6%
3/3/2010 12:30 US Challenger Job Cuts YoY n/a -70.4%
3/3/2010 13:15 US ADP Employment Change 15K -22K
3/3/2010 15:00 US ISM Non-Manf. Composite 51.1 50.5
3/3/2010 23:50 JPN Capital Spending n/a -24.8%
3/4/2010 00:30 AUS Trade Balance n/a -2252M
3/4/2010 10:00 EU Euro-Zone GDP s.a. (YoY) n/a -2.1%
3/4/2010 12:00 UK BOE ANNOUNCES RATES 0.50% 0.50%
3/4/2010 12:45 EU ECB Announces Interest Rates n/a 1.00%
3/4/2010 13:30 CA Building Permits MoM n/a 2.4%
3/4/2010 13:30 US Initial Jobless Claims n/a n/a
3/4/2010 13:30 US Continuing Claims n/a n/a
3/4/2010 15:00 CA Ivey Purchasing Managers Index n/a 50.8
3/4/2010 15:00 US Factory Orders 1.0% 1.0%
3/4/2010 22:30 AUS AiG Perf of Construction Index n/a 57.7
3/5/2010 05:30 AUS Foreign Reserves n/a 46.6B
3/5/2010 09:30 UK PPI Input NSA (YoY) n/a 8.4%
3/5/2010 11:00 GE Factory Orders YoY (nsa) n/a 8.4%
3/5/2010 13:30 US Change in Nonfarm Payrolls 0K -20K
3/5/2010 20:00 US Consumer Credit -$3.1B -$1.7B

* Times listed are GMT

Forex Economic Calendar

Feb 21, 2010 in Grow Financially, Opportunities

Date Time* Source Description Forecast Previous
2/22/2010 00:30 AUS New Motor Vehicle Sales YoY n/a 17.2%
2/22/2010 07:00 JPN Convenience Store Sales YoY n/a -5.5%
2/22/2010 13:30 US Chicago Fed Nat Activity Index -0.19 -0.61
2/22/2010 15:30 US Dallas Fed Manf. Activity 10.0% 8.3%
2/22/2010 23:50 JPN BoJ Monetary Policy Meeting Minutes for Jan. n/a n/a
2/23/2010 00:00 JPN Cabinet Office Monthly Economic Report n/a n/a
2/23/2010 07:00 AUS RBA Deputy Bank Governor Battellino speaks in Sydney n/a n/a
2/23/2010 09:00 GE IFO n/a n/a
2/23/2010 09:30 UK BBA Loans for House Purchase 43000 45897
2/23/2010 14:00 US S&P/CS Composite-20 YoY -3.0% -5.3%
2/23/2010 15:00 US Consumer Confidence 56.0 55.9
2/23/2010 15:00 US Richmond Fed Manufact. Index 1 -2
2/23/2010 22:00 US ABC Consumer Confidence n/a n/a
2/23/2010 23:00 AUS Conference Board Leading Index n/a -0.3%
2/23/2010 23:50 JPN Corp Service Price (YoY) -1.1% -1.5%
2/24/2010 00:30 AUS Wage Cost Index YoY n/a 3.6%
2/24/2010 02:00 NZ RBNZ 2yr Inflation Expectation n/a 2.6%
2/24/2010 05:00 JPN Small Business Confidence n/a 41.3
2/24/2010 07:00 GE GDP nsa (YoY) -1.7% -1.7%
2/24/2010 10:00 EU Industrial New Orders SA (YoY) 7.6% -0.5%
2/24/2010 15:00 US New Home Sales 352K 342K
2/24/2010 15:00 US Testimony–Chairman Ben S. Bernanke n/a n/a
2/25/2010 00:30 AUS Private Capital Expenditure n/a -3.9%
2/25/2010 02:00 NZ Money Supply M3 YoY n/a -1.1%
2/25/2010 08:55 GE Unemployment Change (000′s) 16K 6K
2/25/2010 09:00 EU Euro-Zone M3 s.a. (YoY) 0.0% -0.2%
2/25/2010 09:30 UK Total Business Investment (YoY) -18.5% -19.9%
2/25/2010 10:00 EU Business Climate Indicator n/a -1.12
2/25/2010 11:00 UK U.K. CBI February Distributive Trades n/a n/a
2/25/2010 13:30 US Durable Goods Orders 1.5% 0.3%
2/25/2010 13:30 US Initial Jobless Claims n/a n/a
2/25/2010 13:30 US Continuing Claims n/a n/a
2/25/2010 14:00 US Testimony–Chairman Ben S. Bernanke n/a n/a
2/25/2010 15:00 US House Price Index MoM 0.4% 0.7%
2/25/2010 21:45 NZ Trade Balance n/a 2M
2/25/2010 23:15 JPN Nomura/JMMA Manufacturing PM n/a 52.5
2/25/2010 23:30 JPN Tokyo CPI YoY -2.0% -2.1%
2/25/2010 23:50 JPN Industrial Production YoY% 16.5% 5.1%
2/26/2010 00:01 UK GfK Consumer Confidence Survey -17 -17
2/26/2010 00:30 AUS Private Sector Credit YoY% n/a 1.5%
2/26/2010 05:00 JPN Housing Starts (YoY) -11.6% -15.7%
2/26/2010 09:30 UK GDP (YoY) -3.1% -3.2%
2/26/2010 10:00 EU Euro-Zone CPI (YoY) 1.0% 0.9%
2/26/2010 13:30 CA Current Account (BOP) n/a -$13.1B
2/26/2010 13:30 US GDP Price Index 0.6% 0.6%
2/26/2010 14:45 US Chicago Purchasing Manager 58.5 61.5
2/26/2010 14:55 US U. of Michigan Confidence 74.0 73.7
2/26/2010 15:00 US NAPM-Milwaukee n/a 56.0
2/26/2010 21:15 US Bloomberg FCI Monthly n/a n/a
2/28/2010 21:45 NZ Visitor Arrivals n/a 8.5%
2/28/2010 22:30 AUS AiG Performance of Mfg Index n/a 51.0
2/28/2010 23:30 AUS TD Securities Inflation YoY% n/a 2.6%
3/1/2010 00:01 UK Hometrack Housing Survey (YoY) n/a -0.8%
3/1/2010 00:30 AUS Current Account Balance n/a -16183M
3/1/2010 02:00 NZ ANZ Commodity Price n/a 0.4%
3/1/2010 05:30 AUS RBA Commodity Index SDR YoY% n/a -11.7%
3/1/2010 08:55 GE PMI Manufacturing n/a 57.1
3/1/2010 09:00 EU PMI Manufacturing n/a 54.1
3/1/2010 09:30 UK M4 Money Supply (YoY) n/a 5.1%
3/1/2010 10:00 EU Euro-Zone Unemployment Rate n/a 10.0%
3/1/2010 13:30 CA Gross Domestic Product MoM 0.4% 0.4%
3/1/2010 13:30 US PCE Core (YoY) n/a 1.5%
3/1/2010 15:00 US ISM Manufacturing 57.6 58.4
3/1/2010 23:30 JPN Jobless Rate n/a 5.1%
3/1/2010 23:50 JPN Monetary Base (YoY) n/a 4.9%
3/2/2010 00:30 AUS Building Approvals (YoY) n/a 53.3%
3/2/2010 03:30 AUS RBA CASH TARGET 3.75% 3.75%
3/2/2010 09:30 UK PMI Construction n/a 48.6
3/2/2010 10:00 EU Euro-Zone PPI (YoY) n/a -2.9%
3/2/2010 14:00 CA Bank of Canada Rate n/a 0.25%
3/2/2010 19:00 US Fed’s Beige Book n/a n/a
3/2/2010 22:00 US ABC Consumer Confidence n/a n/a
3/2/2010 22:30 AUS AiG Performance of Service Index n/a 47.4
3/2/2010 22:50 JPN Loans & Discounts Corp YoY n/a -3.1%
3/3/2010 00:01 UK Nationwide Consumer Confidence n/a 73
3/3/2010 00:30 AUS GDP (YoY) n/a 0.6%
3/3/2010 01:30 JPN Labor Cash Earnings YoY n/a -5.9%
3/3/2010 08:55 GE PMI Services n/a 51.7
3/3/2010 09:00 EU PMI Services n/a 52.0
3/3/2010 09:30 UK Official Reserves (Changes) n/a -$250M
3/3/2010 10:00 EU Euro-Zone Retail Sales (YoY) n/a -1.6%
3/3/2010 12:30 US Challenger Job Cuts YoY n/a -70.4%
3/3/2010 13:15 US ADP Employment Change 15K -22K
3/3/2010 15:00 US ISM Non-Manf. Composite 51.1 50.5
3/3/2010 23:50 JPN Capital Spending n/a -24.8%
3/4/2010 00:30 AUS Trade Balance n/a -2252M
3/4/2010 10:00 EU Euro-Zone GDP s.a. (YoY) n/a -2.1%
3/4/2010 12:00 UK BOE ANNOUNCES RATES 0.50% 0.50%
3/4/2010 12:45 EU ECB Announces Interest Rates n/a 1.00%
3/4/2010 13:30 CA Building Permits MoM n/a 2.4%
3/4/2010 13:30 US Initial Jobless Claims n/a n/a
3/4/2010 13:30 US Continuing Claims n/a n/a
3/4/2010 15:00 CA Ivey Purchasing Managers Index n/a 50.8
3/4/2010 15:00 US Factory Orders 1.0% 1.0%
3/4/2010 22:30 AUS AiG Perf of Construction Index n/a 57.7
3/5/2010 05:30 AUS Foreign Reserves n/a 46.6B
3/5/2010 09:30 UK PPI Input NSA (YoY) n/a 8.4%
3/5/2010 11:00 GE Factory Orders YoY (nsa) n/a 8.4%
3/5/2010 13:30 US Change in Nonfarm Payrolls 0K -20K
3/5/2010 20:00 US Consumer Credit -$3.1B -$1.7B

* Times listed are GMT

Soros Questions the Euros Survival & Bernanke’s Testimony in Focus

Feb 21, 2010 in Grow Financially, Investment Protection, Opportunities

Issues surrounding Greece are still the key driver of FX pricing and given the outlook, it will keep the EUR under pressure. This weekend, the German magazine ?Spiegel? suggested that a eur25bn bailout was being negotiated, which gave the single currency and risk correlated trades a slight boost, but optimism…