By FXEmpire.com
Analysis and Recommendations:
The EUR/GBP is changing hands at 0.8098 tumbling from the opening. The UK markets have been closed for the Queens Jubilee and have not traded since last week. The euro lost some of the momentum it had picked up since the drop in the DI. Today the greenback regained some lost momentum after a positive services ISM report.
The G7 emergency conference call to discuss the EU crisis, yielded little results and little in the way of news. Euro sentiment remains negative and seems to be growing on the bickering between politicians, bankers and the EU leadership.
Equities are mixed this morning with indices in France and Spain higher, but Germany’s DAX is off by under a percentage point and Dow futures are lower. Currency markets are generally seek the USD safe haven with most major crosses pushing lower except for the yen (itself a safe haven). US 10s are flat at 1.52%, so are Canadian 10s at a spread advantage of 15bps, and 10year bund yields have pushed a few basis points lower. Yields in Spain, Italy and Portugal are marginally higher. Commodities are broadly lower including small declines in oil and gold prices.
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 5, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
Jun. 05 |
AUD |
Current Account |
-14.9B |
-14.8B |
-9.6B |
|
AUD |
Interest Rate Decision |
3.50% |
3.75% |
3.75% |
|
|
EUR |
Retail Sales (MoM) |
-1.0% |
-0.1% |
0.3% |
|
|
EUR |
German Factory Orders (MoM) |
-1.9% |
-1.0% |
3.2% |
|
|
Building Permits (MoM) |
-5.2% |
-2.0% |
4.9% |
||
|
CAD |
Interest Rate Decision |
1.00% |
1.00% |
1.00% |
|
|
USD |
ISM Non-Manufacturing Index |
53.7 |
53.5 |
53.5 |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Event |
Forecast |
Previous |
|
Jun 6 |
|||||
|
8:30 |
GBP |
55.8 |
|||
|
10:00 |
EUR |
2.8% |
|||
|
11:45 |
EUR |
1.00% |
1.00% |
||
|
12:30 |
EUR |
||||
|
14:30 |
USD |
||||
|
18:00 |
USD |
||||
|
23:01 |
GBP |
-3.3% |
|||
|
Jun 7 |
7:00 |
CHF |
235.6B |
||
|
7:15 |
CHF |
0.1% |
|||
|
8:30 |
GBP |
53.3 |
|||
|
11:00 |
GBP |
325B |
|||
|
11:00 |
GBP |
0.50% |
0.50% |
||
|
12:30 |
USD |
383K |
|||
|
14:00 |
USD |
||||
|
Jun 8 |
8:30 |
GBP |
-1.5% |
||
|
8:30 |
GBP |
3.5% |
|||
|
12:30 |
USD |
-51.8B |
|||
|
14:00 |
USD |
Government Bond Auctions
Date Time Country
Jun 06 09:30 Germany
Jun 06 09:30 Portugal
Jun 06 14:30 UK
Jun 07 00:30 Japan
Jun 07 08:30 Spain
Jun 07 08:50 France
Jun 07 09:10 Sweden
Jun 07 15:00 US
Jun 08 10:00 Belgium
Jun 08 15:30 Italy
Click here to read EUR/GBP Technical Analysis.
Originally posted here
