Forex Daily Analysis – February 12th 2009
Daily Look

Forex Daily Analysis – February 12th 2009

Data from Australia, Europe and the US dominates today’s economic indicators. Core Retails Sales, the main figure for the day in the US, will also be published in New Zealand. The British pound, which has taken a blow from Mervyn King yesterday, expects a quiet day today.

Australia’s employment data was mixed: Employment Change was positive (+1.2K) and didn’t fall as expected, but Unemployment Rate rose to 4.8% from 4.5%. All in all, Australia’s economy is hurt by fires more than the global crisis. AUD/USD now trades at 0.6564.

In Switzerland, the  SECO Consumer Climate is expected to fall by 38 points, extending the fall from last month. USD/CHF is now at 1.16.

In Europe, Industrial Production is expected to fall by 2.3%, deeper than 1.6% it lost last month. Traders will also listen to the ECB Monthly Bulletin, and to a speech by Jean Claude Trichet. EUR/USD is now at 1.2903.

And at 13:30 GMT, lots of data from America: Retail Sales and Core Retail Sales will dominate the scene. Both figures are predicted to fall.  

The weekly Unemployment Claims will also be of interest. Last week, the number exceeded 600,000. It is expected to stay above that mark, at 610,000. Also Business Inventories will be of interest to traders.

And to close the day, Retail Sales and Core Retail Sales will be published in New Zealand. NZD/USD is now at 0.5249.

Happy Forex Trading!

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.