Archive for February, 2009

Friday the 20th will bring a lot of interesting data, that most likely will effect the direction of many currencies. The pound will be strongly effected by the GBP retail sales, while the USD will be dependent on numbers from the consumer confidence index. My bet is that the pound will drop, since the data will probably come in lower then expected.

Feb 20, 09:30 GMT – GBP Retail sales

GBP Retail sales with a forecast of: -0.1%; Previous: 1.6%

Fri Feb 20 – EUR stimulus package

Germany´s Bundesrat upper House of parliament votes on second stimulus package

Fri Feb 20 13:30 GMT – CPI in America

US Core CPI. Forecast: -0.1%; Previous: -0.7%

Feb 24 15:00 GMT USD – Consumer confidence

US Consumer Confidence
Forecast: 37; Previous: 37.7

Feb 24 15:00 GMT – USD

Bernanke to testify to examine the US financial system

Feb 25, 15:00 GMT – US Home sales

US Home sales. Forecast: 4.75M; Previous: 4.74M

Feb 26, 09:00 GMT, Germany Unemployment rate

Some important data for the Eurozone – Germany Unemployment rate. Previous: 7.8%

The Swedish Krona (SEK) had a hard day. New statistics about the GDP showed scary results. Swedens economy are predicted to decline 2.4 % during 2009, from the earlier 1.4 % estimate. At the same time, the interest rate have been cut to 1 %. Not happy time for currency traders trying to profit on a stronger krona. Only this Tuesday, the currency lost between 2-3 % to most of the majors. Below you can find the latest forex spot exchange rates:

• USD/SEK 8,83
• EUR/SEK 11,13
• GBP/SEK 12.59
• DKK/SEK 1.49