By FXEmpire.com
Analysis and Recommendations:
The EUR/CHF is trading at 1.2009 as the bears continue to push the euro in the battle between the euro and the SNB. In Switzerland the all important KOF indicator came in well above forecast, giving strength to the Swissie, pushing the pound off the 1.2014 level of earlier this week.
There was little in the way of eco data in Europe today, with two negative reports out of France and Germany. The weakness in euro is the mounting problems from Spain as it becomes more and more evident that Spain will need some sort of a bailout even though the Spanish government continues to deny the necessity.
Today, after a double-notch downgrade by S&P refocuses market attention back on Spain’s economic troubles, with yields on government bonds rising and the IBEX 35 index seeing pressure, new was released saying that Spain will enjoy a small rise in economic growth next year and post a primary budget surplus excluding debt interest payments, this was released bySpain’s finance minister.
Economic Data for April 27, 2012 actual. v. forecast
|
JPY |
Unemployment Rate |
4.5% |
4.5% |
4.5% |
|
JPY |
Tokyo Core CPI (YoY) |
-0.5% |
-0.4% |
-0.3% |
|
JPY |
Industrial Production (MoM) |
1.0% |
2.4% |
-1.6% |
|
JPY |
Retail Sales (YoY) |
10.3% |
9.8% |
3.4% |
|
JPY |
Interest Rate Decision |
0.10% |
0.10% |
0.10% |
|
EUR |
GfK German Consumer Climate |
5.6 |
5.9 |
5.8 |
|
EUR |
French Consumer Spending (MoM) |
-2.9% |
-1.9% |
2.9% |
|
CHF |
KOF Leading Indicators |
0.40 |
0.26 |
0.09 |
|
EUR |
Italian 10-Year BTP Auction |
5.84% |
5.57% |
|
|
USD |
Employment Cost Index (QoQ) |
0.4% |
0.5% |
0.5% |
|
USD |
GDP Price Index (QoQ) |
1.5% |
2.0% |
0.8% |
|
USD |
GDP (QoQ) |
2.2% |
2.5% |
3.0% |
Economic Events for April 30, 2012 for the European and US Markets
13:30 USD Core PCE Price Index 0.2% 0.1%
The Core Personal Consumption spending (PCE) Price Index measures the changes in the price of goods and services purchased by consumers for the purpose of consumption, excluding food and energy. Prices are weighted according to total expenditure per item. It measures price change from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.
14:45 USD Chicago PMI 61.8 62.2
The Chicago Purchasing Managers’ Index (PMI) determines the economic health of the manufacturing sector in Chicago region. A reading above 50 indicates expansion of the manufacturing sector; a reading below indicates contraction. The Chicago PMI can be of some help in forecasting the ISM manufacturing PMI.
Government Bond Auctions (this week)
May 01 09:30 UK Auctions 4.5% 2042 Conventional Gilt
May 02 09:10 Sweden Nominal bond auction
May 02 09:30 Portugal Eur 1.25-1.5bn new Nov 2012 & new May 2013 T-bills
May 02 13:00 3Y Notes on May 08, 10Y Notes on May 09 & 30Y Bonds on May 10
May 02 14:30 Sweden Details T-bill auction on May 09
May 03 08:30 Spain Bono auction
May 03 08:50 France OAT auction
Click here for updated EUR/CHF News.
Originally posted here
