By FXEmpire.com
Analysis and Recommendations:
The EUR/GBP is trading at 0.8142 as the pound continues to show strength. Recent strength vs EUR has been even more remarkable as EURGBP now trades below 0.8140, a level not seen since June 2010 when EURUSD was trading at crisis lows below 1.2000. Expect the GBP to remain a beneficiary of intra-European diversification flows as investors seek to protect themselves from uncertainty in the Euro Area.
The annual pace of inflation in the 17-nation euro zone slowed less than expected to 2.6% in April from 2.7% in March, the European Union statistics agency Eurostat reported. Economists surveyed had forecast a 2.5
Standard & Poor’s Ratings Services on Monday took negative ratings actions on 16 Spanish banks, in the wake of a double-notch downgrade for the country’s sovereign rating late last week. Among the moves, S&P cut its long- and short-term
The Spanish economy contracted 0.3% in the first quarter of 2012, the second straight quarter of economic decline, officially putting the economy into recession, according to preliminary data released by the national statistics office
Economic Data for April 30, 2012 actual v. forecast
|
KRW |
South Korean Industrial Production (MoM) |
-3.1% |
0.2% |
0.6% |
|
AUD |
HIA New Home Sales (MoM) |
-9.4% |
3.0% |
|
|
EUR |
CPI (YoY) |
2.6% |
2.5% |
2.6% |
|
EUR |
Greek Retail Sales (YoY) |
-13.00% |
-10.60% |
|
|
USD |
Core PCE Price Index (MoM) |
0.2% |
0.2% |
0.1% |
|
GDP (MoM) |
-0.2% |
0.2% |
0.1% |
|
|
USD |
Personal Spending (MoM) |
0.3% |
0.4% |
0.9% |
|
USD |
Chicago PMI |
61.0 |
62.2 |
Economic Events for the European and US Markets
15:00 USD ISM Manufacturing Index 53.5 53.4
The Institute of Supply Management (ISM) Manufacturing Purchasing Managers Index (PMI) rates the relative level of business conditions including employment, production, new orders, prices, supplier deliveries, and inventories. The data is compiled from a survey of approximately 400 purchasing managers in the manufacturing industry. On the index, a level above 50.0 indicates industry expansion, below indicates contraction.
Government Bond Auctions (this week)
Date Time Country
May 01 09:30 UK
May 02 09:10 Sweden
May 02 09:30 Portugal
May 02 13:00 US
May 03 08:30 Spain
May 03 08:50 France
May 03 09:10 Sweden
May 03 09:30 UK
May 08 09:15 Austria
May 08 09:30 Belgium
May 08 14:30 UK
May 08 15:30 Italy
May 08 17:00 US
May 09 09:10 Sweden
May 09 09:30 Germany
May 09 09:30 Swiss
May 09 09:30 UK
May 09 14:30 Sweden
May 09 15:30 Italy
May 09 17:00 US
May 10 15:00 US
May 10 17:00 US
May 11 09:10 Italy BOT auction
May 11 10:00 Belgium
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Originally posted here
