By FXEmpire.com
Analysis and Recommendations:
The EUR/CHF is slowly edging down towards the SNB floor as the euro continues to lose strength. Soon there will be no way for the Swiss Bank to defend their line in the sand. As political turmoil and negative economic factors continue to worry investors they continue to look for safety. The USD and the JPY continue upward momentum, crushing all of their trading partners. The euro continues to weaken as political worries grow in France and Greece and now Spain, jumps right into center stage with bank bailouts and more budgetary and economic woes.
Borrowing costs continue to skyrocket in Spain, but also Greece is seeing borrowing rates higher then before their bailout.
Outcries around the world over austerity measures, is the motto of the new politicians and the public. Word of Greece departing the euro becomes more believable and possible now then just a few months ago.
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
May 10 |
08:30 |
EUR |
Dutch CPI (YoY) |
2.40% |
2.50% |
|
09:00 |
EUR |
ECB Monthly Report |
|||
|
09:30 |
GBP |
Industrial Production (MoM) |
-0.3% |
0.4% |
|
|
09:30 |
GBP |
Manufacturing Production (MoM) |
0.5% |
-1.0% |
|
|
09:30 |
GBP |
Trade Balance |
-9.6B |
-8.8B |
|
|
12:00 |
GBP |
Interest Rate Decision |
0.50% |
0.50% |
|
|
12:00 |
GBP |
BOE QE Total |
325B |
325B |
|
|
13:30 |
USD |
IImport Price Index (MoM) |
-0.2% |
1.3% |
|
|
13:30 |
USD |
Trade Balance |
-50.0B |
-46.0B |
|
|
13:30 |
USD |
Initial Jobless Claims |
369K |
365K |
|
|
13:30 |
USD |
Continuing Jobless Claims |
3278K |
3276K |
|
|
14:30 |
USD |
Fed Chairman Bernanke Speaks |
|||
|
15:00 |
GBP |
NIESR GDP Estimate |
0.1% |
||
|
19:00 |
USD |
Federal Budget Balance |
30.0B |
-198.2B |
|
|
May 11 |
00:01 |
GBP |
Nationwide Consumer Confidence |
53 |
|
|
07:00 |
EUR |
German CPI (MoM) |
0.1% |
0.1% |
|
|
09:30 |
GBP |
PPI Input (MoM) |
-1.0% |
1.9% |
|
|
10:00 |
EUR |
Portuguese CPI (MoM) |
1.20% |
||
|
13:30 |
USD |
Core PPI (MoM) |
0.3% |
||
|
13:30 |
USD |
PPI (MoM) |
0.0% |
||
|
14:55 |
USD |
Michigan Consumer Sentiment |
76.4 |
Government Bond Auctions (this week)
Date Time Country
May 10 15:00 US
May 10 17:00 US
May 11 09:10 Italy BOT auction
May 11 10:00 Belgium
Click here for further EUR/CHF Forecast.
Originally posted here
