By FXEmpire.com

Analysis and Recommendations:

The GBP/USD gained 0.0053 to end the session at 1.5525.

Markets initially reacted with euphoria over the quickly settled bailout of Spain over the weekend until many questions began to surface, as markets realized that this is far from a done deal. Bond yields are higher and the USD is weak.Today’s calendar is filled with central bank speakers and essentially no data. Sterling will therefore react based on global sentiment, and the movement of the USD.

Sterling is strong, up 0.4%, but has faded from its highs of the day and failed to break through last week’s high (1.5601). The reaction is to Eurozone developments and a shift in risk.

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 June 9-10-11, 2012 actual v. forecast ( today was very lite for all of Europe and the US. The Chinese Eco data, had the most effects on the markets )

Jun. 09

CNY

Chinese CPI (YoY)

3.0%

3.2%

3.4%

CNY

Chinese PPI (YoY)

-1.4%

-1.1%

-0.7%

CNY

Chinese CPI (MoM)

-0.3%

-0.1%

-0.1%

CNY

Chinese Fixed Asset Investment (YoY)

20.1%

20.0%

20.2%

CNY

Chinese Industrial Production (YoY)

9.6%

9.9%

9.3%

CNY

Chinese Retail Sales (YoY)

13.8%

14.3%

14.1%

Jun. 10

CNY

Chinese Trade Balance

18.70B

16.30B

18.40B

Jun. 11

JPY

BSI Large Manufacturing Conditions

-5.7

-2.4

-7.3

Upcoming Economic Events that affect the CHF, EUR, GBP and USD

Date

Time

Currency

Event

Forecast

Previous

Jun 12

5:45

CHF

SECO Economic Forecasts

8:30

GBP

Manufacturing Production m/m

0.9%

12:30

USD

Import Prices m/m

-0.5%

14:00

GBP

NIESR GDP Estimate

0.1%

18:00

USD

Federal Budget Balance

59.1B

Jun 13

7:15

CHF

PPI m/m

-0.1%

9:00

EUR

Industrial Production m/m

-0.3%

12:30

USD

PPI m/m

-0.2%

12:30

USD

Retail Sales m/m

0.1%

14:00

USD

Business Inventories m/m

0.3%

14:30

USD

Crude Oil Inventories

-0.1M

Jun 14

7:30

CHF

Libor Rate

7:30

CHF

SNB Monetary Policy Assessment

7:30

CHF

SNB Press Conference

8:00

CHF

SNB Financial Stability Report

8:00

EUR

ECB Monthly Bulletin

9:00

EUR

CPI y/y

2.4%

12:30

USD

Unemployment Claims

377K

12:30

USD

CPI m/m

0.0%

12:30

USD

Current Account

-124B

Jun 15

8:30

GBP

Trade Balance

-8.6B

12:30

USD

Empire State Manufacturing Index

17.1

13:00

USD

TIC Long-Term Purchases

36.2B

13:15

USD

Capacity Utilization Rate

79.2%

13:15

USD

Industrial Production m/m

1.1%

13:55

USD

Prelim UoM Consumer Sentiment

79.3

Government Bond Auctions

Date Time Country

Jun 12 08:30 Holland

Jun 12 09:15 Austria

Jun 12 09:30 Belgium

Jun 12 09:30 UK

Jun 12 14:30 UK

Jun 12 17:00 US

Jun 13 09:10 Italy

Jun 13 09:30 Germany

Jun 13 09:30 Swiss

Jun 13 17:00 US

Jun 14 09:10 Italy

Jun 14 09:30 UK

Jun 14 15:00 US

Jun 14 17:00 US

Click here to read GBP/USD Technical Analysis.

Originally posted here