By FXEmpire.com
Analysis and Recommendations:
The EUR/GBP continues to fall, as it has for the entire week. The pair are trading at 0.7889 down just 0.0007 as the euro continues to weaken on negative global sentiments.
Market sentiments remained in the doldrums on a bleak global economic outlook. Investors flocked away from riskier assets as the minutes from the FOMC meeting released the previous day hardly provided any cues on another round of monetary easing by the US Federal Reserve. The Dollar gained while commodities and equities declined following uncertainty over probable stimulus measures. Spot gold slipped, dropping more than 0.5 percent after showing a mild recovery in the previous session. Dollar trading firm near its two year high against a basket of currencies took the sheen out of precious metal.
In the EU there was little in the way of eco data, French inflation in June was flat on a month-on-month basis with the year-on-year measure easing to 1.9% from 2.0%, in line with consensus
The slightly stronger than expected French inflation data are still consistent with the flash EMU CPI number released earlier this month and European industrial production showed a glimmer of promise in this morning’s May report rising 0.6% m/m. Half of the outperformance compared to flat consensus expectations was attributed to downward revisions to the prior month that is now reported to have dropped by 1.1% m/m. The volatile trend remains pointed lower since last September.
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 13, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul. 12 |
AUD |
RBA Assist Gov Lowe Speaks |
|||
|
KRW |
South Korean Interest Rate Decision |
3.00% |
3.25% |
3.25% |
|
|
AUD |
Employment Change |
-27.0K |
0.3K |
27.9K |
|
|
AUD |
Unemployment Rate |
5.2% |
5.2% |
5.1% |
|
|
JPY |
Interest Rate Decision |
0.10% |
0.10% |
0.10% |
|
|
EUR |
French CPI (MoM) |
0.0% |
-0.1% |
-0.1% |
|
|
JPY |
BoJ Press Conference |
||||
|
EUR |
Industrial Production (MoM) |
0.6% |
-0.1% |
-1.1% |
|
|
USD |
Import Price Index (MoM) |
-2.7% |
-1.7% |
-1.0% |
|
|
USD |
Initial Jobless Claims |
350K |
372K |
374K |
|
|
USD |
Continuing Jobless Claims |
3304 |
3300K |
3306K |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
Jul 13 |
12:30 |
USD |
-1.0% |
|
|
13:55 |
USD |
73.2 |
Click here for updated EUR/GBP News.
Originally posted here
