Key Fundamental Forex Events for the Week of February 24th through February 28th
The following table lists the key economic data and other events that came out during the week of February 24th through February 28th, with release times displayed for the GMT time zone.
The list also indicates how much each release deviated from the market consensus forecast upon release, as well as what the affected major currency pair or pairs did after each event or set of events.
Sunday, February 23rd
- Day 2 ALL G20 Meetings: BOJ Governor Haruhiko Kuroda said that, "It's true that the inflation rate is slowing in the Eurozone but the region's economy is bottoming out and inflation expectations are anchored around the central bank's price target. In general, I don't think there's a chance the euro zone will slip into deflation. The region remains the biggest single economic entity in the world, so I hope its economy recovers and gradually heads toward the ECB's price target.”
Monday, February 24th
- 9:00am EUR German Ifo Business Climate 111.3 versus 110.7 expected. The currency fell.
- 10:00am EUR EZ CPI 0.8% versus 0.7% expected. The currency fell.
- 10:00am EUR EZ Core CPI 0.8% versus 0.8% expected. The currency fell.
Tuesday, February 25th
- 2:00am NZD Inflation Expectations 2.3% versus last 2.3% expected. The currency fell.
- 9:30am GBP BBA Mortgage Approvals 50.0K versus 47.9K expected. The currency rose.
- 11:00am GBP CBI Realized Sales 37 versus 15 expected. The currency rose.
- 12:45pm EUR EU Economic Forecasts noted that, ““. The currency rose.
- 2:00pm USD S&P/CS Composite-20 HPI 13.4% versus 13.3% expected. The currency fell.
- 3:00pm USD CB Consumer Confidence 78.1 versus 80.2 expected. The currency fell.
Wednesday, February 26th
- 12:30am AUD Construction Work Done -1.0% versus 0.4% expected. The currency fell.
- 7:00am EUR GfK German Consumer Climate 8.5 versus 8.3 expected. The currency rose.
- 9:25am GBP MPC Member Broadbent said that, "it would be a big mistake to imagine that the [integrated global financial] system brings us only problems”. He continued saying that, “Over the last year or so, for example, I think that receding near-term risk in the euro area has been a significant contributor to our own economic recovery." The currency fell.
- 9:30am GBP Second Estimate GDP 0.7% versus 0.7% expected. The currency fell.
- 9:30am GBP Preliminary Business Investment 2.4% versus 2.6% expected. The currency fell.
- 3:00pm USD New Home Sales 468K versus 406K expected. The currency rose.
- 3:30pm USD Crude Oil Inventories 0.1M versus last 1.0M expected. The currency rose.
- 9:45pm NZD Trade Balance 306M versus 230M expected. The currency fell.
Thursday, February 27th
- 12:30am AUD Private Capital Expenditure -5.2% versus -1.0% expected. The currency rose.
- 12:30am USD FOMC Member Pianalto said that, "Today we are in our third round of QE, and studies show that the asset purchases have succeeded in pushing down longer-term interest rates and have generally eased financial conditions." The currency fell.
- 6:45am CHF GDP 0.2% versus 0.4% expected. The currency rose.
- All Day EUR German Preliminary CPI 0.5% versus 0.6% expected. The currency rose.
- 8:15am CHF Employment Level 4.19M versus 4.22M expected. The currency rose.
- 8:55am EUR German Unemployment Change -14K versus -10K expected. The currency rose.
- 9:00am EUR EZ M3 Money Supply 1.2% versus 1.1% expected. The currency rose.
- 9:09am EUR Spanish HPI -1.8% versus -0.4% expected. The currency rose.
- 10:17am EUR Italian 10-year Bond Auction 3.42 average yield and 1.6 bid to cover ratio versus last 3.81 average yield and 1.3 bid to cover ratio. The currency rose.
- 1:30pm CAD Current Account 16.0B versus -16.5B expected. The currency rose.
- 1:30pm USD Core Durable Goods Orders 1.1% versus -0.1% expected. The currency fell.
- 1:30pm USD Weekly Initial Jobless Claims 348K versus 333K expected. The currency fell.
- 1:30pm USD Durable Goods Orders -1.0% versus -0.7% expected. The currency fell.
- 9:45pm NZD Building Consents -8.3% versus 7.6% expected. The currency rose.
- 11:30pm JPY Household Spending 1.1% versus 0.5% expected. The currency rose.
- 11:30pm JPY Tokyo Core CPI 0.9% versus 0.8% expected. The currency rose.
- 11:50pm JPY Preliminary Industrial Production 4.0% versus 3.1% expected. The currency rose.
- 11:50pm JPY Retail Sales 4.4% versus 3.9% expected. The currency rose.
Friday, February 28th
- 12:00am NZD ANZ Business Confidence 70.8 versus last 64.1 expected. The currency rose.
- 12:30am AUD Private Sector Credit 0.4% versus 0.5% expected. The currency fell.
- 7:00am EUR German Retail Sales 2.5% versus 1.2% expected. The currency rose.
- 7:00am GBP Nationwide HPI 0.6% versus 0.6% expected. The currency rose.
- 7:45am EUR French Consumer Spending -2.1% versus -0.8% expected. The currency rose.
- 8:00am CHF KOF Economic Barometer 2.03 versus 2.03 expected. The currency rose.
- 10:00am EUR EZ CPI Flash Estimate 0.8% versus 0.7% expected. The currency rose.
- 10:00am EUR EZ Unemployment Rate 12.0% versus 12.0% expected. The currency rose.
- 10:00am USD FOMC Member Fisher said that, "As soon as feasible, the Federal Reserve should stop large scale asset purchases entirely". The currency fell.
- 1:30pm CAD GDP -0.5% versus -0.2% expected. The currency rose.
- 1:30pm USD Preliminary GDP 2.4% versus 2.6% expected. The currency fell.
- 2:45pm USD Chicago PMI 59.8 versus 57.9 expected. The currency rose.
- 2:55pm USD Revised University of Michigan Consumer Sentiment survey 81.6 versus 81.4 expected. The currency fell.
- 3:00pm USD Pending Home Sales 0.1% versus 2.9% expected. The currency fell.
- 3:15pm USD FOMC Member Kocherlakotahas not yet spoken.
- 3:15pm USD FOMC Member Stein has not yet spoken.
- 3:30pm GBP BOE Governor Carney has not yet spoken.
Saturday, March 1st
- 1:00am CNY Manufacturing PMI 50.2 expected. The data has not yet been released.
Technical Recap for the Majors This Week
EUR/USD:
Forecast: Mildly Higher
Actual: Mildly higher from a 1.3738 open to a 1.3804 close.
USD/JPY:
Forecast: Higher
Actual: Mildly lower from a 102.55 open to a102.08 close.
GBP/USD:
Forecast: Higher
Actual: Higher from a 1.6632o pen to a 1.6747 close.
AUD/USD:
Forecast: Higher
Actual: Mildly lower from a 0.8969 open to a 0.8931 close.
USD/CAD:
Forecast: Mildly lower
Actual: Mildly lower from a 1.1103 open to a 1.1073 close.
NZD/USD:
Forecast: Higher
Actual: Higher from a 0.8274 open to a 0.8387 close.
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