By FXEmpire.com
Analysis and Recommendations:
Gold continues to edge upwards, as investors worries grow. Gold is trading up 8.55 at 1622.35.
The markets continue to show negative approval of the Spanish bailout and the limited amount of terms and conditions shared with the public. The EU is simply trying to buy time, which is has so successfully done for over 2 years, but avoidance will soon hit them face to face. The Greek elections are too close to call, but there seems little hope that the new government will back and stand for all the austerity and budget measures imposed by the EU. It just depends on the final vote how bad the results will be for the EU and the euro.
Market mood remained wary over worries about spreading debt contagion in the Euro zone lingered on. The US retail sales figures scheduled for release later in the evening is also playing on the minds of the investors. With spending contributing a significant proportion of the US GDP, numbers are likely to entice market forces depending on the outcome. Amid mounting debts in Euro region, which is rattling the market confidence, Italy is planning to auction debt maturing in 2015, 2019 and 2020 tomorrow and would be hoping for enhanced demand for its debts to lower yield below sustainable levels. In midst of elections in Greece due in four day’s time, markets would be hoping for a desirable outcome to rejuvenate their scruffy sentiments. An uncanny outcome of the elections could throw up markets into a state of doldrums and periods of long liquidation. After ditching hopes of a QE3 last week, Federal Reserve is all set to take centre stage with much anticipated FOMC meeting slated for 19th-20th June. The timing of the FOMC meeting follows the outcome of Greece election results and financial markets could be in for a twist. Overall, week ahead could be crucial and could set the tone for market moves in coming days.
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 up to the data analysis and information in our weekly reports.
Economic Data for June 13, 2012 actual v. forecast
|
Date |
Time |
Currency |
Importance |
Event |
Actual |
Forecast |
Previous |
|
Jun. 13 |
00:00 |
JPY |
BoJ Governor Shirakawa Speaks |
||||
|
01:30 |
AUD |
Westpac Consumer Sentiment |
0.30% |
0.80% |
|||
|
06:30 |
EUR |
French CPI (MoM) |
-0.1% |
0.2% |
0.1% |
||
|
07:00 |
EUR |
German CPI (MoM) |
-0.2% |
-0.2% |
-0.2% |
||
|
07:00 |
EUR |
German CPI (YoY) |
1.9% |
1.9% |
1.9% |
||
|
08:15 |
CHF |
PPI (MoM) |
-0.2% |
-0.2% |
-0.1% |
||
|
10:00 |
EUR |
Industrial Production (MoM) |
-0.8% |
-1.0% |
-0.1% |
||
|
13:30 |
USD |
Core PPI (MoM) |
0.2% |
0.2% |
0.2% |
||
|
13:30 |
USD |
Core Retail Sales (MoM) |
-0.4% |
0.0% |
-0.3% |
||
|
13:30 |
USD |
PPI (MoM) |
-1.0% |
-0.6% |
-0.2% |
||
|
13:30 |
USD |
Retail Sales (MoM) |
-0.2% |
-0.2% |
-0.2% |
||
|
13:30 |
USD |
PPI (YoY) |
0.7% |
1.1% |
1.9% |
||
|
13:30 |
USD |
Core PPI (YoY) |
2.7% |
2.8% |
2.7% |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Jun 14 |
7:30 |
CHF |
|
|
|
|
7:30 |
CHF |
||||
|
7:30 |
CHF |
||||
|
8:00 |
CHF |
||||
|
8:00 |
EUR |
||||
|
9:00 |
EUR |
2.4% |
|||
|
12:30 |
USD |
377K |
|||
|
12:30 |
USD |
0.0% |
|||
|
12:30 |
USD |
-124B |
|||
|
Jun 15 |
8:30 |
GBP |
-8.6B |
||
|
12:30 |
USD |
17.1 |
|||
|
13:00 |
USD |
36.2B |
|||
|
13:15 |
USD |
79.2% |
|||
|
13:15 |
USD |
1.1% |
|||
|
13:55 |
USD |
79.3 |
Government Bond Auctions
Date Time Country
Jun 14 09:10 Italy
Jun 14 09:30 UK
Jun 14 15:00 US
Jun 14 17:00 US
Click here to read Gold Technical Analysis.
Originally posted here
