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Daily technical and fundamental analysis for EURUSD, USDJPY and Oil.

Written by Imran Allana

Forex Analysis - 6th January 2015

EURUSD technical analysis

EUR/USD opened the Asian trading session at 1.1932 after recovering from 1.1887 overnight as long-dated treasury yields fell sharply and as USD/JPY led USD broadly lower. Dipping to 1.1927 early, it grinded higher still to 1.1955 with the move higher in AUD/USD keeping the USD on the defensive. Sentiment remains decidedly bearish however, with uncertainties surrounding the Greek election on January 25th and ECB policy on January 22nd.

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Financial Calendar

United Kingdom & Euro Zone

Tuesday 3rd March 2015

Time Location Indicator Period Unit Forecast Previous Actual
02:30 Australia Medium indicator importanceBuild Permits February   -1.8 -3.3 7.9
  The number of new building projects authorized for construction. Because receiving a Building Permit is the first step in the construction process, the figure is used as the earliest indicator for developments in the housing market. Importance:
Medium indicator importanceMedium
02:30 Australia Medium indicator importanceCurrent Account February Bln -10.9 -12.5 -9.6
  The Current Account summarizes the flow of goods, services, income and transfer payments into and out of the country. Importance:
Medium indicator importanceMedium
05:30 Australia High indicator importanceRBA Rate Decision February % 2 2.25 2.25
  The Reserve Bank of Australia's Cash Rate Target decision has a huge influence on its financial markets. Changes in rates affect interest rates in consumer loans, mortgages, and bond rates. Importance:
High indicator importanceHigh
09:00 Germany High indicator importanceRetail Sales mm February % 0.5 0.2 2.9
  Retail Sales mm Importance:
High indicator importanceHigh
11:30 United Kingdom Medium indicator importancePMI - Construction February   59 59.1 60.1
  PMI Construction Importance:
Medium indicator importanceMedium
12:00 Euro Zone High indicator importanceProducer Price Index (PPI) m/m February % -0.5 -1 -0.9
  The Producer Price Index (PPI) is a family of indices that measures the monthly average change over time in the selling prices received by domestic producers of goods and services Importance:
High indicator importanceHigh
12:00 United Kingdom High indicator importanceBoE Governor speaks February        
  The BoE Governor is the voice of the bank and his speeches provide the international investment community with insight into the BoE's monetary policy. When the Governor speaks, market participants pay close attention to a number of areas. Importance:
High indicator importanceHigh
15:30 Canada High indicator importanceGDP m/m February % 0.1 -0.2  
  Measures the value of goods and services produced within a country on a monthly basis. GDP is the most comprehensive overall measure of economic output and provides key insight as to the driving forces of the economy. Importance:
High indicator importanceHigh
15:30 Canada Medium indicator importanceRaw Materials Prices m/m February % -6.8 -7.6  
  Measures on a monthly basis the unfinished goods consumed by a manufacturer in providing finished goods. Classified as inventory in the current assets section of a firm's balance sheet. Importance:
Medium indicator importanceMedium
15:30 Canada Medium indicator importanceIndustrial Production m/m February % -2.2 -1.6  
  Change in the total inflation-adjusted value of output produced by the manufacturing, mining, and utilities sectors. Importance:
Medium indicator importanceMedium
17:00 United States Low indicator importanceIBD Economic Optimism February   48.3 47.5  
  IBD Economic Optimism Importance:
Low indicator importanceLow


Strong dollar feeds on rate hike bets

Written by easy-forex team

Weekly Outlook - 2nd March 2015