US Philadelphia Fed Manufacturing Survey: -12.5 in Feb from -5.8 in Jan
Feb 21, 2013
Forex Flash: EUR/USD may slide to 1.28/1.29 area – TD Securities
Yesterday, the EUR/USD closed below the 40-day MA and traded at fresh 4-week lows, which should drive systemic traders and trend followers to revert to bearish strategies (sell rallies) from here, according to TD Securities. "Weak data in Europe, modestly wider peripheral spreads and less supportive EZ/US short-term yield spreads support the soft undertone in the EUR near-term (test of the low 1.31 area likely)", wrote analysts Shaun Osborne and Greg Moore, suggesting a potential slide in EUR/USD to the 1.28/1.29 area and pointing to Fed Bullard's speach as the real focus of the day.
Fundamental Afternoon Wrap: You don´t know what you´ve got till EUR gone
Europe has come thundering back into analyst thoughts this afternoon with an almighty crescendo of focus and consideration. This morning´s below expected PMI readings highlights that while the situation is not great, it is slowly improving for Germany, the engine of the region, while fellow core economy France is starting to contract and weigh on the region. Meanwhile, last nights FOMC minutes are also in the spotlight still, with some analysts believing that the non voting status of dissenters is the key take away while others feel that the minutes are signalling a slow shift in US monetary policy.