InvestTechFX Weekly Market Watch - January 23, 2012 - January 27, 2011

A summary of the weekly market watch of January 23, 2012 to January 27, 2012 for seven major currencies: USD, AUD, NZD, GBP, EUR, JPY, and CAD. End Quote

(1888PressRelease) January 24, 2012 - The Week Ahead

USD: The upcoming U.S. economic calendar is about as active as last week, featuring the key Fed Funds Rate Decision on Wednesday. Monday and Tuesday are quiet, so Wednesday starts the week's key releases with Pending Home Sales (-0.3%), Crude Oil Inventories (last -3.4M), plus the Federal Funds Rate Decision (< 0.25%) and associated FOMC Statement. Thursday offers Core Durable Goods Orders (1.0%), Weekly Initial Jobless Claims (371K), Durable Goods Orders (2.1%) and New Home Sales (322K). Friday's data concludes the week with Advance GDP (3.1%), Advance GDP Price Index (2.0%) and the Revised University of Michigan Consumer Sentiment survey (74.2). Also, the World Economic Forum's annual meetings are going to take place in Davos, Switzerland this week from Wednesday, January 25th through Sunday the 29th. The WEF meetings are traditionally attended by central bankers, government and business leaders, and finance and trade officials from more than 90 nations. The influential meetings are usually open to the press, so influential officials sometimes talk with reporters during the day, and their comments may have an impact on one or more major currencies.

AUD: The upcoming Australian economic calendar is less active than last week, featuring the key CPI data due out on Wednesday. The data week starts on Monday with PPI (0.4%), and Tuesday's highlights include the CB Leading Index (last 0.6%). Wednesday then features the MI Leading Index (last 0.1%), CPI (0.2%) and Trimmed Mean CPI (0.6%). That concludes the week's releases since Thursday is a Bank Holiday and Friday is quiet. Resistance for AUD/USD is seen at 1.0485 and 1.0751, with support noted at 1.0376/84, 1.0230 and 1.0143.

NZD: The upcoming New Zealand economic calendar is about as quiet as last week, featuring the key RBNZ Official Cash Rate Decision due out on Thursday. Monday, Tuesday and Wednesday are quiet, so Thursday starts the week with the RBNZ Official Cash Rate Decision (2.5%) and its associated Rate Statement. Friday's data concludes the week with the Trade Balance (-47M). The chart for NZD/USD shows resistance at 0.8080 and 0.8242. On the downside, technical support is expected at 0.7979/96, 0.7864, and 0.7650.

GBP: The upcoming UK economic calendar is a bit busier than last week, featuring the key Preliminary GDP data out on Wednesday. Monday starts the week with a speech by MPC Member Posen, and Tuesday's highlights include Public Sector Net Borrowing (12.7B) and a speech by BOE Governor King. Wednesday then features the MPC Meeting Minutes (0-0-9), Preliminary GDP (-0.1%), BBA Mortgage Approvals (35.3K) and CBI Industrial Order Expectations (-19). Thursday offers CBI Realized Sales (1). That concludes the week since Friday is quiet. Resistance to the topside for GBP/USD shows at 1.5668 and 1.5768/79, while support for the pair is expected at 1.5326/1.5499, 1.5232/70 and 1.5123

EUR: The upcoming Eurozone economic calendar is about as active as last week, featuring the key EZ and German ZEW Economic Sentiment surveys on Tuesday. Monday starts the week with a speech by ECB President Draghi, and Tuesday's highlights include the German ZEW Economic Sentiment survey (-49.5), EZ CPI (2.8%) and Core CPI (1.6%), and the EZ ZEW Economic Sentiment survey (-48.7). Wednesday then features little of note, while Thursday offers the EZ Current Account (0.5B) and the ECB Monthly Bulletin. Friday's data concludes the week with German PPI (0.1%). Resistance for EUR/USD is seen at 1.2877, 1.3076 and 1.3197, with support showing at 1.2623, 1.2586 and 1.2151.

JPY: The upcoming Japanese economic calendar is considerably busier than last week, featuring the key BOJ Overnight Call Rate Decision tentatively scheduled for Tuesday. Monday is quiet, so Tuesday starts the week with the tentatively scheduled BOJ Monetary Policy Statement, Overnight Call Rate Decision (< 0.10%) and associated BOJ Press Conference. Wednesday then features the Trade Balance (0.36T) and BOJ Monthly Report. Thursday is quiet, and Friday's data concludes the week with Tokyo Core CPI (-0.3%), the BOJ Monetary Policy Meeting Minutes and Retail Sales (2.3%). Resistance for USD/JPY currently shows up at 77.06/68, 78.15/28 and 79.52/80.22, with support indicated at 76.55/66, 75.94 and 75.56.

CAD: The upcoming Canadian economic calendar is about as active as last week, featuring the key Core Retail Sales data due out on Tuesday. Monday starts the week with the Leading Index (0.6%), and Tuesday's highlights include Core Retail Sales (0.2%) and Retail Sales (0.3%). Wednesday then features a speech by BOC Governor Carney. That concludes the week since Thursday and Friday are quiet. Resistance for USD/CAD is seen at 1.0160, 1.0282/1.0318 and 1.0422, while support shows at 1.0051/78 and 0.9891.

About InvestTechFX

InvestTechFX software solutions deals with the Forex Market offering specialized Money Manager, IB and White Label services as well as many benefits including tight pip fixed spreads, leverage ranging from 1:100 to 1:500 to permit the use of scalping, hedging options and Expert Advisors. InvestTechFX is a No Dealing Desk (NDD) and Straight Through Processing (STP) Forex company offering an industry leading ½ pip on all 6 majors while trading with the MT4 platform.

In January 2012 InvestTechFX will be offering some excellent trading bonuses depending on the amount of deposits made by customers. For further details go to www.investtechfx.com.

###

space

Other Related Press Releases