Analysis and Recommendations:
The EUR/GBP declined right along with the euro after the ECB offered no plan, do action just more promises of tomorrows. Markets are now demanding immediate action by the EU Leadership. This pair dropped to trade at 0.7852
The Bank of England on Thursday left its key lending rate unchanged and made no changes to its planned asset purchases. As expected, the bank said its Monetary Policy Committee left the so-called bank rate at a record low 0.5%, where it has stood since March 2009, and remains on track to bring total asset purchases, the centerpiece of its quantitative-easing strategy, to 375 billion pounds ($583 billion). The bank raised the size of its asset-buying program by 50 billion pounds last month and said Thursday that it expects purchases to take another three months to complete. “The scale of the program will be kept under review,” the bank said.
FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more recent analysis and information in our weekly reports and we provide daily updates and outlooks
Economic Data August 2, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Aug. 02 |
AUD |
Retail Sales (MoM) |
1.0% |
0.7% |
0.8% |
|
AUD |
Trade Balance |
0.01B |
-0.35B |
-0.31B |
|
|
EUR |
Spanish Unemployment Change |
-27.80K |
-98.90K |
||
|
CHF |
Retail Sales (YoY) |
3.7% |
2.0% |
6.2% |
|
|
CHF |
SVME PMI |
48.6 |
47.0 |
48.1 |
|
|
NOK |
Norwegian Unemployment Rate |
3.00% |
3.00% |
3.00% |
|
|
EUR |
Spanish 10-Year Obligacion Auction |
6.647% |
6.430% |
||
|
GBP |
Interest Rate Decision |
0.50% |
0.50% |
0.50% |
|
|
GBP |
BOE QE Total |
375B |
375B |
375B |
Upcoming Economic Events that affect the CHF, EUR and GBP
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Aug 3 |
8:30 |
GBP |
51.3 |
||
|
9:00 |
EUR |
0.6% |
Government Bond Auctions
Date Time Country
Aug 06 09:10 Norway
Aug 07 00:30 Japan
Aug 07 09:15 Austria
Aug 07 14:30 UK
Aug 07 17:00 US
Aug 08 09:30 Germany
Aug 08 10:00 Norway
Aug 08 15:30 Italy
Aug 08 17:00 US
Aug 09 15:30 Italy
Aug 09 17:00 US
Aug 10 10:00 Belgium
Click here to read EUR/GBP Technical Analysis.
Originally posted here
