By FXEmpire.com
Analysis and Recommendations:
The EUR/GBP is trading at 0.8066 up 0.0036. The Today, there are no important data on the agenda in the UK. So, trading in the EUR/GBP cross rate should be driven by overall sentiment on the euro and by technical considerations. Yesterday, the pair clear returned south of the EUR/GBP 0.8100 neckline/point of reference. This suggests that ST momentum in this cross rates remains negative.
From a technical point of view, the EUR/GBP cross rate is showing tentative signs that the decline is slowing. Early May, the key 0.8068 support was cleared. This break opened the way for a potential return action to the 0.77 area (October 2008 lows). Mid May, the pair set a correction low at 0.7950. From there, a rebound/short squeeze kicked in. Continued trading above the 0.8095 area (gap) would call off the downside alert. A first attempt to do so was rejected. Last week and early this week, the pair tried several times to regain the 0.8100 area, but there were no follow-through gains. Yesterday, the pair even fell back below the 0.8100 neckline. We still prefer to sell into strength for return action lower in the range.
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 for updated EUR/GBP News.
Originally posted here
