EUR/GBP Fundamental Analysis May 10, 2012, Forecast

By FXEmpire.com

Analysis and Recommendations:

The EUR/GBP opened the day at .8049 and is trading at 0.8029. There has been little eco data from the eurozone or the UK today; this has just been moves on market sentiment and global risk aversion. The USD has soared against all of its trading partners as investors ran to safety fleeing European equities and currencies and seeing the price of gold and oil tumble to recent lows.

Thursday brings several eco events in the UK, none of which are expected to move markets or draw much attention.

The BoE rate decision has been predetermined by the markets to be a hold and no policies changes.

The news will continue to focus on politics and EU problems as Spain continues to fall into the economic abyss.

Upcoming Economic Events that affect the CHF, EUR, GBP and USD

May 10	08:30	EUR	Dutch CPI (YoY)	2.40%	2.50%
09:00	EUR	ECB Monthly Report
09:30	GBP	Industrial Production (MoM)	-0.3%	0.4%
09:30	GBP	Manufacturing Production (MoM)	0.5%	-1.0%
09:30	GBP	Trade Balance	-9.6B	-8.8B
12:00	GBP	Interest Rate Decision	0.50%	0.50%
12:00	GBP	BOE QE Total	325B	325B
13:30	USD	IImport Price Index (MoM)	-0.2%	1.3%
13:30	USD	Trade Balance	-50.0B	-46.0B
13:30	USD	Initial Jobless Claims	369K	365K
13:30	USD	Continuing Jobless Claims	3278K	3276K
14:30	USD	Fed Chairman Bernanke Speaks
15:00	GBP	NIESR GDP Estimate	0.1%
19:00	USD	Federal Budget Balance	30.0B	-198.2B
May 11	00:01	GBP	Nationwide Consumer Confidence	53
07:00	EUR	German CPI (MoM)	0.1%	0.1%
09:30	GBP	PPI Input (MoM)	-1.0%	1.9%
10:00	EUR	Portuguese CPI (MoM)	1.20%
13:30	USD	Core PPI (MoM)	0.3%
13:30	USD	PPI (MoM)	0.0%
14:55	USD	Michigan Consumer Sentiment	76.4