By FXEmpire.com

Analysis and Recommendations:

The EUR/GBP is trading at 0.7892 after tumbling yesterday to the low 0.78 range, the euro has been able to pick up some of its losses.

Yesterday was the battle of the banks, and the ECB was the big loser. The BoE held rates and policy, as markets had expected, even though traders were hoping for a little give from the BoE, the results were as expected. On the other hand, markets had expected a great deal from the ECB after a pledge from the President of the ECB to have the monetary union and to not sit idly by. Action was expected, a plan a roadmap, something, but nothing was offered. The euro tumbled and remains weakened.

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 August 2, 2012 actual v. forecast

Date

Currency

Event

Actual

Forecast

Previous

Aug. 03

TRY

Turkish CPI (MoM)

-0.23%

-0.10%

-0.90%

EUR

Retail Sales (MoM)

0.1%

-0.1%

0.8%

USD

Average Hourly Earnings (MoM)

0.1%

0.2%

0.3%

USD

Nonfarm Payrolls

163K

100K

64K

USD

Unemployment Rate

8.3%

8.2%

8.2%

USD

Average Weekly Hours

34.5

34.5

34.5

USD

Private Nonfarm Payrolls

172K

110K

73K

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

Date

Time

Currency

Event

Previous

Aug 6

8:30

EUR

Sentix Investor Confidence

-29.6

23:01

GBP

BRC Retail Sales Monitor y/y

1.4%

Aug 7

7:00

CHF

Foreign Currency Reserves

364.9B

7:15

CHF

CPI m/m

-0.3%

8:00

EUR

Italian Industrial Production m/m

0.8%

8:30

GBP

Manufacturing Production m/m

1.2%

10:00

EUR

German Factory Orders m/m

0.6%

14:00

GBP

NIESR GDP Estimate

-0.2%

Aug 8

5:45

CHF

SECO Consumer Climate

-8

9:30

GBP

BOE Inflation Report

10:00

EUR

German Industrial Production m/m

1.6%

12:30

USD

Prelim Nonfarm Productivity q/q

-0.9%

12:30

USD

Prelim Unit Labor Costs q/q

1.3%

14:30

USD

Crude Oil Inventories

Aug 9

8:00

EUR

ECB Monthly Bulletin

8:30

GBP

Trade Balance

-8.4B

12:30

USD

Trade Balance

-48.7B

12:30

USD

Unemployment Claims

Aug 10

6:45

EUR

French Industrial Production m/m

-1.9%

8:30

GBP

PPI Input m/m

-2.2%

12:30

USD

Import Prices m/m

-2.7%

18:00

USD

Federal Budget Balance

-59.7B

Government Bond Auctions

Date Time Country

Aug 06 09:10 Norway

Aug 07 00:30 Japan

Aug 07 09:15 Austria

Aug 07 14:30 UK

Aug 07 17:00 US

Aug 08 09:30 Germany

Aug 08 10:00 Norway

Aug 08 15:30 Italy

Aug 08 17:00 US

Aug 09 15:30 Italy

Aug 09 17:00 US

Aug 10 10:00 Belgium

Aug 13 09:10 Italy

Aug 13 09:10 Norway

Aug 13 09:30 Germany

Aug 14 09:10 Greece

Aug 14 09:10 Italy

Aug 14 09:30 Belgium

Aug 14 14:30 UK

Aug 15 09:10 Sweden

Click here a current EUR/GBP Chart.

Originally posted here