By FXEmpire.com
Analysis and Recommendations:
The EUR/CHF fell today at trade at 1.2007 as the euro bears continue to push the euro towards the SNB line in the sand.
There was little in the way of eco news for either of these currencies, and news flow was fairly light. EU meetings continue as worries about a bailout for Spain continue to mount. Italy and Greece remain in the background. The euro was able to move up against the weakened US today giving it some momentum but it did not translate to other currencies.
With European economies battered by rising debts, all eyes would be on the European Central Bank (ECB) meeting on Thursday, where President Draghi is expected to retain the rates at 1 percent but could initiate bond buying action amid spreading contagion. German Chancellor Angela Merkel is expected to meet EU commissioner Jose Barroso in Berlin today evening to discuss on current situation in Europe, including the preparation for the next European Council meeting June 28-29 in Brussels. Overall, the week could be held hostage to events unfolding in Europe, although hopes of a QE3 could rejuvenate market entities.
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 4, 2012 actual v. forecast (virtually no eco data in Europe or the US today)
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jun. 04 |
JPY |
Monetary Base (YoY) |
2.4% |
0.2% |
-0.3% |
|
AUD |
MI Inflation Gauge (MoM) |
0.0% |
0.3% |
||
|
AUD |
Company Gross Profits (QoQ) |
-4.0% |
-2.0% |
-6.5% |
|
|
AUD |
ANZ Job Advertisements (MoM) |
-2.40% |
-0.80% |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Forecast |
Previous |
|
Jun 5 |
9:00 |
EUR |
0.3% |
|
|
10:00 |
EUR |
2.2% |
||
|
14:00 |
USD |
53.5 |
||
|
Jun 6 |
6th-8th |
GBP |
||
|
8:30 |
GBP |
55.8 |
||
|
10:00 |
EUR |
2.8% |
||
|
11:45 |
EUR |
1.00% |
1.00% |
|
|
12:30 |
EUR |
|||
|
12:30 |
USD |
-0.5% |
||
|
14:30 |
USD |
|||
|
18:00 |
USD |
|||
|
23:01 |
GBP |
-3.3% |
||
|
Jun 7 |
7:00 |
CHF |
235.6B |
|
|
7:15 |
CHF |
0.1% |
||
|
8:30 |
GBP |
53.3 |
||
|
TBD |
EUR |
|||
|
11:00 |
GBP |
325B |
||
|
11:00 |
GBP |
0.50% |
0.50% |
|
|
TBD |
GBP |
|||
|
12:30 |
USD |
383K |
||
|
14:00 |
USD |
|||
|
Jun 8 |
8:30 |
GBP |
-1.5% |
|
|
8:30 |
GBP |
3.5% |
||
|
TBD |
GBP |
|||
|
12:30 |
USD |
-51.8B |
||
|
14:00 |
USD |
Government Bond Auctions
Date Time Country
Jun 05 00:30 Japan
Jun 05 09:30 Belgium
Jun 05 14:30 Sweden
Jun 06 09:30 Germany
Jun 06 09:30 Portugal
Jun 06 14:30 UK
Jun 07 00:30 Japan
Jun 07 08:30 Spain
Jun 07 08:50 France
Jun 07 09:10 Sweden
Jun 07 15:00 US
Jun 08 10:00 Belgium
Jun 08 15:30 Italy
Click here to read EUR/CHF Technical Analysis.
Originally posted here
