By FXEmpire.com
Analysis and Recommendations:
The EUR/GBP is trading at 0.7905 as the euro continues to weaken and the pound finally found some eco support. Today, (see chart below) Industrial and Manufacturing production was reported well over forecast along with a drop in trade balance. The UK finally has some supportive data. Against the USD it was difficult to gain as the greenback remained strong today. Market sentiment was still to flights of safety and risk aversion as traders worried more and more about the global slowdown and the lack of progress in the EU.
The sentiment in the markets remains negative towards anything associated with the eurozone, as Finance Minister’s do not seem to be able to pull a rabbit out of the hat again like they did just two weeks ago announcing the new banking plan set to become effective on July 9, 2012, which has passed with little work from the EU.
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 July 10, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul. 10 |
GBP |
RICS House Price Balance |
-22% |
-16% |
-17% |
|
AUD |
NAB Business Confidence |
-3 |
-2 |
||
|
CNY |
Chinese Trade Balance |
31.73B |
21.00B |
18.70B |
|
|
DKK |
Danish CPI (YoY) |
2.20% |
2.20% |
2.10% |
|
|
NOK |
Norwegian Core Inflation (MoM) |
-0.30% |
0.10% |
0.40% |
|
|
NOK |
Norwegian CPI (MoM) |
-0.50% |
-0.10% |
0.00% |
|
|
GBP |
Industrial Production (MoM) |
1.0% |
-0.2% |
-0.4% |
|
|
GBP |
Manufacturing Production (MoM) |
1.2% |
0.1% |
-0.8% |
|
|
GBP |
Trade Balance |
-8.4B |
-9.0B |
-9.7B |
|
|
GBP |
Industrial Production (YoY) |
-1.6% |
-2.1% |
-2.0% |
|
|
Housing Starts |
222.7K |
205.0K |
217.4K |
||
|
GBP |
NIESR GDP Estimate |
-0.2% |
0.1% |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jul 11 |
12:30 |
USD |
-50.1B |
|
|
14:30 |
USD |
-4.3M |
||
|
Jul 12 |
9:00 |
EUR |
-0.8% |
|
|
12:30 |
USD |
|||
|
12:30 |
USD |
-1.0% |
||
|
18:00 |
USD |
-124.6B |
||
|
7:15 |
CHF |
-0.2% |
||
|
Jul 13 |
12:30 |
USD |
-1.0% |
|
|
13:55 |
USD |
73.2 |
Government Bond Auctions
Date Time Country
Jul 11 09:30 Germany
Jul 11 09:30 Swiss
Jul 11 17:00 US
Jul 12 09:10 Italy
Jul 12 09:30 UK
Jul 12 15:00 US
Jul 12 17:00 US
Jul 13 09:10 Italy
Jul 13 10:00 Belgium
Click here to read EUR/GBP Technical Analysis.
Originally posted here
