By FXEmpire.com
Analysis and Recommendations:
The EUR/GBP is trading at 0.7845 moving up 0.0067 as the pound dropped against its trading partners. After the release of disappointing GDP data, the pound could not hold against the euro. Markets were already expecting disappointing numbers but the print was much lower than expectations or predictions.
The euro remained negative but was able to gather some momentum in today’s trading.
News flow is generally negative, with a miss by Apple, a disappointing German IFO, a larger contraction from the UK economy than expected and confusion ongoing in Europe; however markets are adding risk to portfolio’s partially as traders are refocusing on potential policy action by the Fed.
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 25, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jul. 25 |
JPY |
Trade Balance |
-0.30T |
-0.39T |
-0.62T |
|
AUD |
CPI (QoQ) |
0.5% |
0.6% |
0.1% |
|
|
AUD |
Trimmed Mean CPI (QoQ) |
0.5% |
0.6% |
0.3% |
|
|
EUR |
German Ifo Business Climate Index |
103.3 |
104.7 |
105.2 |
|
|
EUR |
German Current Assessment |
111.6 |
113.0 |
113.9 |
|
|
EUR |
German Business Expectations |
95.6 |
96.7 |
97.2 |
|
|
GBP |
GDP (QoQ) |
-0.7% |
-0.2% |
-0.3% |
|
|
GBP |
GDP (YoY) |
-0.8% |
-0.3% |
-0.2% |
|
|
GBP |
CBI Industrial Trends Orders |
-6 |
-12 |
-11 |
|
|
USD |
New Home Sales |
372K |
369K |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Previous |
|
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 |
Click here for updated EUR/GBP News.
Originally posted here
