By FXEmpire.com
Analysis and Recommendations:
The EUR/GBP is trading at 0.7874 as it continues to decline on the weakness of the euro. Markets began to stress over the German court’s decision in regards to the ESM. After a 10 hour hearing, it is expected that the courts will delay a ruling. The Eurogroup also released the terms for the Spanish bank bailout; all of this could be moot if Germany’s Constitutional Court decides to grant a 6-month injunction that postpones German participation in the ESM. The German parliament approved the ESM in June, but the legislation has been challenged by a group including a former justice minister demanding ‘more democracy’, and the challenge is now before the court. The court began hearing testimony yesterday.
News flow will affect this currency pair over the next part of the day and early tomorrow as markets await a ruling from the courts.
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 11, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul. 11 |
AUD |
RBA Assist Gov Lowe Speaks |
|||
|
KRW |
South Korean Unemployment Rate |
3.2% |
3.2% |
3.2% |
|
|
JPY |
Tertiary Industry Activity Index (MoM) |
0.7% |
0.2% |
-0.2% |
|
|
AUD |
Westpac Consumer Sentiment |
3.70% |
0.30% |
||
|
AUD |
Home Loans (MoM) |
-1.2% |
0.7% |
0.5% |
|
|
EUR |
German CPI (MoM) |
-0.1% |
-0.1% |
-0.1% |
|
|
EUR |
German CPI (YoY) |
1.7% |
1.7% |
1.7% |
|
|
EUR |
German 10-Year Bund Auction |
1.310% |
1.520% |
||
|
Trade Balance |
-0.8B |
-1.0B |
-0.6B |
||
|
USD |
Trade Balance |
-48.7B |
-48.5B |
-50.6B |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
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 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
