By FX Empire.com
Economic Events: (GMT)
Today is the second day of the World Economic Forum of Business and Government Leaders in Davos.
10:30 CHF KOF Leading Indicators -0.06 0.01
The KOF Leading Indicators Index is designed to predict the direction of the economy over the following six months. The index is a composite reading of 12 economic indicators related to banking confidence, production, new orders, consumer confidence and housing.
A higher than expected reading should be taken as positive/bullish for the CHF, while a lower than expected reading should be taken as negative/bearish for the CHF.
13:15 EUR ECB President Draghi Speaks
European Central Bank (ECB) President Mario Draghi (November 2011 – November 2019) is to speak. As head of the ECB, which sets short term interest rates, he has a major influence over the value of the euro. Traders watch his speeches closely as they are often used to drop subtle hints regarding future monetary policy and interest rate shifts.
His comments may determine a short-term positive or negative trend.
EUR/GBP Fundamental Analysis Jan. 27, 2012, Forecast
Analysis and Recommendations:
The pair EUR/GBP is currently 0.8374 up +0.0002 (+0.03%)
The euro surged today on news of an almost settlement with Greek creditors. The IIF returned to Greece to finish negotiations after they agreed to reduce the value of the coupon to 3.75.
The new focus is on Portugal. Spain successful held a bond auction today.
The GBP remained under pressure after industry data showed that U.K. retail sale volumes dropped to the lowest level since March 2009 this month, with retailers expecting volumes to keep declining in February. The report came one day after data showing the U.K. economy contracted in the fourth quarter, underlining concerns over fresh monetary easing by the Bank of England, last week news of a rise in unemployment in the UK was reported.
Upcoming Govt Bond Sales Dates
Jan 27 10:10 Italy BOT auction
Originally posted here
