Major factors to affect the trading of the pair EUR/USD for the week are as follows:

On Monday market in USA remained closed in observance of the Presidents’ Day.

Today on Tuesday, In United States, Chicago Fed Nat Activity Index was released. In euro zone data on consumer confidence was published. Switzerland reported its official data on country’s trade balance and Money Supply M3.

On Wednesday, February 22^nd, 2012, German purchasing manager index for manufacturing and services sector will be reported in euro zone while a separate report on PMI for manufacturing and services sector will be reported for the single currency region. Data on industrial new orders will also be released in the euro zone. United States will report its data on mortgage approvals and existing home sales.

On Thursday, February 23^rd, several reports will be published in United States which will include weekly data on initial jobless claims, continuing claims, house price index, data on crude oil supplies and Kansas City Fed Manufacturing activity.

In euro zone, data on business climate and current assessment by German IFO institute will be reported.

On Friday, Germany will report its data on gross domestic product, private consumption, capital investment, exports and imports, government spending and gross fixed capital formation. In United States data on new home sales will be released while University of Michigan will release its report on consumer confidence.