By FXEmpire.com
Analysis and Recommendations:
The EUR/GBP remains below 0.80 trading at 0.7996. The UK calendar is thin with only the CBI distributive trades survey scheduled for release which reported well above forecast, but it is a minor report with little market affects. . Recently UK eco data were far from inspiring. Another negative surprise might fuel speculation on the need for more QE from the BoE in the near future. This might slow the decline of EUR/GBP, but we doubt that it will change the global downtrend of the euro also against sterling.
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 May 29, 2012 actual v. forecast
|
Date |
Currency |
Event |
Actual |
Forecast |
Previous |
|
May 29 |
JPY |
Unemployment Rate |
4.6% |
4.5% |
4.5% |
|
JPY |
Retail Sales (YoY) |
5.8% |
6.3% |
10.3% |
|
|
AUD |
HIA New Home Sales (MoM) |
6.9% |
-9.4% |
||
|
GBP |
CBI Distributive Trades Survey |
21 |
-7 |
-6 |
|
|
EUR |
German CPI (MoM) |
-0.2% |
-0.1% |
0.2% |
|
|
EUR |
German CPI (YoY) |
1.9% |
2.0% |
2.1% |
|
|
USD |
CB Consumer Confidence |
64.9 |
70.0 |
68.7 |
Upcoming Economic Events that affect the CHF, EUR, GBP and USD
|
Date |
Time |
Currency |
Previous |
|
|
May 30 |
7:00 |
CHF |
KOF Economic Barometer |
0.40 |
|
8:00 |
EUR |
M3 Money Supply y/y |
3.2% |
|
|
8:30 |
GBP |
Net Lending to Individuals m/m |
1.4B |
|
|
14:00 |
USD |
Pending Home Sales m/m |
4.1% |
|
|
23:01 |
GBP |
GfK Consumer Confidence |
-31 |
|
|
May 31 |
5:45 |
CHF |
GDP q/q |
0.1% |
|
31st-3rd |
EUR |
German Retail Sales m/m |
0.8% |
|
|
6:45 |
EUR |
French Consumer Spending m/m |
-2.9% |
|
|
7:55 |
EUR |
German Unemployment Change |
19K |
|
|
9:00 |
EUR |
CPI Flash Estimate y/y |
2.6% |
|
|
12:15 |
USD |
ADP Non-Farm Employment Change |
119K |
|
|
12:30 |
USD |
Prelim GDP q/q |
2.2% |
|
|
12:30 |
USD |
Unemployment Claims |
370K |
|
|
13:45 |
USD |
Chicago PMI |
56.2 |
|
|
15:00 |
USD |
Crude Oil Inventories |
0.9M |
|
|
Jun 1 |
TBD |
GBP |
Halifax HPI m/m |
|
|
7:15 |
CHF |
Retail Sales y/y |
4.2% |
|
|
7:30 |
CHF |
SVME PMI |
46.9 |
|
|
7:45 |
EUR |
Italian Manufacturing PMI |
43.8 |
|
|
8:30 |
GBP |
Manufacturing PMI |
50.5 |
|
|
9:00 |
EUR |
Unemployment Rate |
10.9% |
|
|
12:30 |
USD |
Non-Farm Employment Change |
115K |
|
|
12:30 |
USD |
Unemployment Rate |
8.1% |
|
|
12:30 |
USD |
Core PCE Price Index m/m |
0.0% |
|
|
12:30 |
USD |
Personal Spending m/m |
0.2% |
|
|
12:30 |
USD |
ISM Manufacturing PMI |
0.3% |
|
|
14:00 |
USD |
S&P/CS Composite-20 HPI y/y |
54.8 |
Government Bond Auctions
Date Time Country
May 30 09:10 Italy
May 30 09:10 Sweden
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Originally posted here
