By FXEmpire.com
Analysis and Recommendations:
The EUR/GBP is trading at 0.7958 as the Pound has continues to dip below a one-month low against the Euro after the currency was undermined by poor economic data out of the UK and the expectation that the European Central Bank will resume its bond buying plan. The UK is struggling in the grip of the double-dip recession and the Bank of England is expected to cut its growth forecast yet again later in the week.
Today the UK Halifax Housing Price Index came in under forecast again.
In Europe, traders are mellow after Monti had some worrisome words to say about the eurozone in a recent interview published this weekend.
Spain is expected to ask for a full bailout later today.
Traders have revised their opinion of ECB Draghi and their disappointment over his decision on Thursday, by Friday speculators were beginning to realize Draghi’s plans and have jumped on board to support his goals.
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 6, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
||||
|
Aug. 06 |
AUD |
MI Inflation Gauge (MoM) |
0.2% |
-0.2% |
|||||
|
TWD |
Taiwanese CPI (YoY) |
2.46% |
2.02% |
1.77% |
|||||
|
AUD |
ANZ Job Advertisements (MoM) |
-0.80% |
-1.10% |
||||||
|
GBP |
Halifax House Price Index (MoM) |
-0.6% |
-0.5% |
0.8% |
|||||
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Aug 7 |
7:00 |
CHF |
364.9B |
|
|
7:15 |
CHF |
-0.3% |
||
|
8:00 |
EUR |
0.8% |
||
|
8:30 |
GBP |
1.2% |
||
|
10:00 |
EUR |
0.6% |
||
|
14:00 |
GBP |
-0.2% |
||
|
Aug 8 |
5:45 |
CHF |
-8 |
|
|
9:30 |
GBP |
|||
|
10:00 |
EUR |
1.6% |
||
|
12:30 |
USD |
-0.9% |
||
|
12:30 |
USD |
1.3% |
||
|
14:30 |
USD |
|||
|
Aug 9 |
8:00 |
EUR |
||
|
8:30 |
GBP |
-8.4B |
||
|
12:30 |
USD |
-48.7B |
||
|
12:30 |
USD |
|||
|
Aug 10 |
6:45 |
EUR |
-1.9% |
|
|
8:30 |
GBP |
-2.2% |
||
|
12:30 |
USD |
-2.7% |
||
|
18:00 |
USD |
-59.7B |
Government Bond Auctions
Date Time Country
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
Click here to read EUR/GBP Technical Analysis.
Originally posted here
