By FXEmpire.com
Analysis and Recommendations:
The EUR/CHF continues to hold within a tight range. The pair at presently at 1.2016 remaining between the 1.2012 and the 1.2025 channel they have been in for days. With the SNB floor set at 1.20 and the bears trying to push it below, this is a battle pays no attention to the markets or other eco data.
With little in the way of economic data due this week for the EU and Switzerland, they will remain in this stream for the rest of the week.
Economic Data for April 23, 2012 actual v. forecast
|
AUD |
PPI (QoQ) |
-0.3% |
0.4% |
0.3% |
|
CNY |
Chinese HSBC Manufacturing PMI |
49.10 |
48.30 |
|
|
EUR |
French Business Survey |
95 |
96 |
98 |
|
EUR |
French Manufacturing PMI |
47.3 |
47.2 |
46.7 |
|
EUR |
French Services PMI |
46.4 |
50.2 |
50.1 |
|
EUR |
German Manufacturing PMI |
46.3 |
49.0 |
48.4 |
|
EUR |
German Services PMI |
52.6 |
52.3 |
52.1 |
|
EUR |
Manufacturing PMI |
46.0 |
48.2 |
47.7 |
|
EUR |
Services PMI |
47.9 |
49.4 |
49.2 |
|
EUR |
Italian Consumer Confidence |
89.0 |
96.5 |
96.3 |
|
TWD |
Taiwanese Industrial Production (YoY) |
-3.4% |
-6.8% |
8.4% |
|
EUR |
German 12-Month Bubill Auction |
0.074% |
0.077% |
|
|
Wholesale Sales (MoM) |
1.6% |
-1.0% |
-1.1% |
|
|
EUR |
French 3-Month BTF Auction |
0.090% |
0.084% |
|
|
EUR |
French 6-Month BTF Auction |
0.121% |
0.119% |
|
|
EUR |
French 12-Month BTF Auction |
0.250% |
0.249% |
|
|
MXN |
Mexican Retail Sales (YoY) |
7.6% |
5.0% |
4.4% |
Economic Events scheduled for April 24, 2012 that affect the European and American Markets
07:00 EUR Finnish Unemployment Rate 7.40%
The unemployment rate represents the number of unemployed persons expressed as a percentage of the labor force. The unemployment rate for a particular age/sex group is the number of unemployed in that group expressed as a percentage of the labor force for that group.
10:00 EUR Industrial New Orders (MoM) -0.5% -2.3%
Industrial New Orders measures the change in the total value of new purchase orders placed with manufacturers. It is a leading indicator of production. A higher than expected reading should be taken as positive/bullish for the EUR, while a lower than expected reading should be taken as negative/bearish for the EUR.
15:00 USD CB Consumer Confidence 70.3 70.8
Conference Board (CB) Consumer Confidence measures the level of consumer confidence in economic activity. It is a leading indicator as it can predict consumer spending, which plays a major role in overall economic activity. Higher readings point to higher consumer optimism.
15:00 USD New Home Sales 320K 313K
New Home Sales measures the annualized number of new single-family homes that were sold during the previous month. This report tends to have more impact when it’s released ahead of Existing Home Sales because the reports are tightly correlated
Government Bond Auctions (this week)
Apr 24 00:30 Japan Auctions 20Y JGBs
Apr 24 08:30 Holland Eur 1.5-2.5bn Jul 2014 & Jan 2037 DSL auction
Apr 24 08:30 Spain 3 & 6M T-bill auction
Apr 24 09:10 Italy Auctions CTZ/BTPei
Apr 24 14:30 UK Details Conventional Gilt auction on May 01 & I/L auction on May 03
Apr 24 17:00 US Auctions 2Y Notes
Apr 25 09:10 Sweden Auctions T-bills
Apr 25 09:30 Germany Eur 3.0bn new Jul 2044 Bund
Apr 25 14:30 Sweden Details nominal bond auction on May 02
Apr 25 17:00 US Auctions 5Y Notes
Apr 26 00:30 Japan Auctions 2Y JGBs
Apr 26 09:10 Italy BOT auction
Apr 26 14:30 Sweden Details I/L bond auction on May 03
Apr 26 17:00 US Auctions 7Y Notes
Apr 27 09:10 Italy BTP/CCTeu auction
Click here a current EUR/CHF Chart.
Originally posted here
