By FXEmpire.com
Analysis and Recommendations:
The EUR/GBP continued to weaken falling to 0.7788. Even as the UK is about to re enter a recession and the pound is fairly week, the euro remains weaker.
With problems in Greece continuing and the IMF terminating funding to Greece and the Troika today reviewing Greece’s attempts at austerity, there is more and more evidence that Greece will lose its funding.
Spain has now stepped forward and requested a full scale bailout, but markets are not sure the total value or where the funds will come from. This also means that Italy will be right behind to follow suit.
The euro has no support and continues to reach record lows.
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 24, 2012 actual v. forecast
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
Jul. 24 |
CNY |
Chinese HSBC Manufacturing PMI |
49.50 |
48.20 |
|
AUD |
RBA Governor Stevens Speaks |
||||
EUR |
French Manufacturing PMI |
43.6 |
45.5 |
45.2 |
|
HUF |
Hungarian Retail Sales (YoY) |
-2.50% |
-2.00% |
-2.80% |
|
EUR |
German Manufacturing PMI |
43.3 |
45.3 |
45.0 |
|
EUR |
Manufacturing PMI |
44.1 |
45.3 |
45.1 |
|
GBP |
BBA Mortgage Approvals |
26.3K |
31.4K |
29.6K |
|
Core Retail Sales (MoM) |
0.5% |
0.2% |
-0.4% |
||
CAD |
Retail Sales (MoM) |
0.3% |
0.5% |
-0.6% |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
Date |
Time |
Currency |
Event |
Previous |
Jul 25 |
8:00 |
EUR |
105.3 |
|
8:30 |
GBP |
-0.3% |
||
10:00 |
GBP |
-11 |
||
13:00 |
EUR |
-13.2 |
||
14:00 |
USD |
369K |
||
14:30 |
USD |
|||
Jul 26 |
6:00 |
EUR |
5.8 |
|
8:00 |
EUR |
2.9% |
||
12:30 |
USD |
0.7% |
||
12:30 |
USD |
|||
14:00 |
USD |
5.9% |
||
Jul 27 |
27th-31st |
GBP |
-0.6% |
|
All Day |
EUR |
-0.1% |
||
7:00 |
CHF |
1.16 |
||
12:30 |
USD |
1.9% |
||
13:55 |
USD |
72.0 |
Government Bond Auctions
Date Time Country
Jul 25 09:30 Germany
Jul 25 15:30 Italy
Jul 25 17:00 US
Jul 26 00:30 Japan
Jul 26 09:10 Italy
Jul 27 09:10 Italy
Jul 27 17:00 US
Click here to read EUR/GBP Technical Analysis.
Originally posted here