By FXEmpire.com
Analysis and Recommendations:
The EUR/GBP fell on the weakness from the euro, trading at 0.8016.
The elation on the Spanish banking plan (if any) cooled further out in the session. So, EUR/GBP also reversed the initially gains and even dropped below Friday’s closing level. Overnight the pair came even near last week’s lows in the mid 0.80 area. There were few economic data in the UK with market moving potential. At a seminar, BoE’s Posen admitted that he was too optimistic on the UK economy when he halted his vote for more QE. So, he is likely to join the camp supporting more asset purchases at the July meeting. However, his comments had hardly any impact on sterling trading. The focus was on the euro side of the story.
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 for June 12, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jun. 12 |
GBP |
RICS House Price Balance |
-16% |
-18% |
-19% |
|
JPY |
Tertiary Industry Activity Index (MoM) |
-0.3% |
0.4% |
-0.6% |
|
|
JPY |
BoJ Governor Shirakawa Speaks |
||||
|
AUD |
NAB Business Confidence |
-2 |
4 |
||
|
EUR |
French Non-Farm Payrolls (QoQ) |
0.1% |
0.1% |
0.1% |
|
|
GBP |
Industrial Production (MoM) |
0.0% |
0.1% |
-0.3% |
|
|
GBP |
Manufacturing Production (MoM) |
-0.7% |
-0.2% |
0.9% |
|
|
GBP |
Industrial Production (YoY) |
-1.0% |
-1.0% |
-2.6% |
|
|
USD |
Import Price Index (MoM) |
-1.0% |
-1.0% |
0.0% |
|
|
GBP |
NIESR GDP Estimate |
0.1% |
-0.1% |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Jun 13 |
7:15 |
CHF |
-0.1% |
||
|
9:00 |
EUR |
-0.3% |
|||
|
12:30 |
USD |
-0.2% |
|||
|
12:30 |
USD |
0.1% |
|||
|
14:00 |
USD |
0.3% |
|||
|
14:30 |
USD |
-0.1M |
|||
|
Jun 14 |
7:30 |
CHF |
|
|
|
|
7:30 |
CHF |
||||
|
7:30 |
CHF |
||||
|
8:00 |
CHF |
||||
|
8:00 |
EUR |
||||
|
9:00 |
EUR |
2.4% |
|||
|
12:30 |
USD |
377K |
|||
|
12:30 |
USD |
0.0% |
|||
|
12:30 |
USD |
-124B |
|||
|
Jun 15 |
8:30 |
GBP |
-8.6B |
||
|
12:30 |
USD |
17.1 |
|||
|
13:00 |
USD |
36.2B |
|||
|
13:15 |
USD |
79.2% |
|||
|
13:15 |
USD |
1.1% |
|||
|
13:55 |
USD |
79.3 |
Government Bond Auctions
Date Time Country
Jun 13 09:10 Italy
Jun 13 09:30 Germany
Jun 13 09:30 Swiss
Jun 13 17:00 US
Jun 14 09:10 Italy
Jun 14 09:30 UK
Jun 14 15:00 US
Jun 14 17:00 US
Click here for further EUR/GBP Forecast.
Originally posted here
