Greek Debt Weighs On Investor Sentiment - Weekly Analysis

Reporting from Banc De Binary’s analysis centre - The Trading Room - welcome to Ahead of the Week for February 23rd to 27th, 2015. All event times are GMT.

Monday the 23rd is a holiday in Greece, but investors are not taking a break from their concerns over the increasingly tense negotiations between the debt-ridden country and the Eurogroup. Several proposals from Greece have received the cold shoulder, particularly from Germany’s finance minister Wolfgang Schaeuble, who wants Greek finance minister Yanis Varoufakis to stick to the previous bailout deal. The Euro has taken several hits over the uncertainty, trading in a narrow range of 1.12 and 1.14, and stock exchanges in the EU suffer sharp dips as Greece’s chronic debt problems drag heavily on investor sentiment.

At 07:00 on Tuesday the 24th, Germany releases GDP results for the fourth quarter of 2014, expected to come in at the level of 0.7 percent on a quarterly basis, compared to the previously reported figure of 0.1 percent. At 10:00am, the Eurozone announces inflation data for January, with the Consumer Price Index forecast to have dropped by minus 0.6 percent on an annual basis, versus the previously recorded level of minus 0.2 percent. The last major market-moving event for Tuesday is at 15:00, when the US releases Consumer Spending figures for February, previously at the level of 102.9, and expected at the level of 100 this time around.

The trading highlight on Wednesday the 25th is at 15:00, when the US announces New Home Sales Change for January, previously at the level of 11.6 percent.
There is plenty of market-moving data on Thursday the 26th, starting out at 08:55 with Germany’s Unemployment Rate for February, expected to stay unchanged at 6.5 percent. At 09:30, the UK releases GDP figures for the fourth quarter of 2014, last reported at the level of 2.7 percent on an annual basis. Bank of Canada is next on the list at 13:30 when it releases Consumer Price Index figures for January, previously at the level of 2.2 percent on an annual basis. At the same time, the US releases its own inflation data for January, previously at the level of 0.8 percent on an annual basis, and a source of concern for deflation bears. You’ll have to be quick if you’re trading the USD on Thursday, because US Durable Goods Orders for January come out during the same time slot and were formerly at the ominously low level of minus 3.4 percent. Finally for Thursday, at 23:30 Japan announces CPI data for January, previously at the level of 2.4 percent on an annual basis.

On Friday the 27th, the US releases its GDP performance for the fourth quarter, last seen at the level of 2.6 percent on an annual basis.
That’s a wrap for this trading week, thanks for watching Ahead of the Week Report from Banc De Binary’s Trading Room research team. Wishing you successful trading, until next week