[ARCHIVE] FOREX - Trends, Forecasts and Consequences (Episode 14: April 2012) - page 9
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Any word on interest rates?
...
12.00 Moscow timeframe. - E-17: March, composite PMI (forecast: 48.7; prior period: 48.7)
12.00 Moscow time. - Italy: Q4, current account deficit to GDP ratio (prior period: 4.30%)
12.30 Moscow time. - UK: March, Markit/CIPS services PMI (forecast: 53.4; prior period: 53.8)
12.30 Moscow time. - UK: March, official reserves (prior period: $746 million)
13.00 Moscow time. - E-17: February retail sales (Forecast: -0.2% mom, -1.1% y/y; Preliminary: +0.3% mom, 0.0% y/y)
14.00 Moscow time. - Germany: February, Manufacturing Orders (Forecast: -1.4% mom, -5.5% y/y; Preliminary: -6.0% mom, -4.9% y/y)
15.00 Moscow time. - US: MBA mortgage applications for the week to March 30 (prior period: -2.7%)
15.45 MSK - E-17: ECB Monetary Policy Decision (Forecast: 1.0%; Previous Period: 1.0%)
16.15 Moscow time. - US: March ADP Employment Change (Forecast: +200K; Previous Period: +216K)
16.30 MSK - E-17: ECB head Mario Draghi press conference
18.00 Moscow time. - US: March, ISM Services (Forecast: 56.8; Previous Period: 57.3)
18.30 MSK - US: EIA crude oil and petroleum products inventories report (prior period: +7.1m to 353.4m barrels)
*19.00 Moscow time - U.S.: Fed Dealer with Williams in San Francisco
(04/04/2012)
Any word on interest rates?
Against the wall
3150 level worked out...waiting for the news...
European equities and the single European currency are declining today as investors are disappointed that the Fed did not give hope for a third quantitative easing programme yesterday. This fact underlines the difference in economic fortunes between the US and Europe far from in favour of the latter. The recent positive macroeconomic statistics from the USA are in stark contrast with data from the Eurozone. Only Germany is showing a robust economic picture. However the region as a whole can't boast of positive statistics. Today's February retail sales, which fell -2.1% YoY, is a clear indication of that. The US economy is currently not in need of additional monetary liquidity, while Europe is in a moderate recession, so a downward EUR/USD trend in the medium term looks legitimate and reflects the fundamentals.
In Europe, the debt market situation remains volatile. On Tuesday Spain announced a new budget which is sliding back into recession. That country's debt level is on the way to a 22-year high. Spain's services sector continued to contract in March according to published statistics. Decline is also shown by the Italian statistics. The French data shows stagnation in the second biggest economy in the Eurozone. So far today there is no news that could change somehow the minor mood of investors, so the single currency shows gradual decline against the USD. Source: Forexpf.ru
next level 3095
..genre-wise, there should be a scuffle on level 38.2... and if ... then yes ...
Great, that's fine, I'll make more money)