By FXEmpire.com
Analysis and Recommendations:
The EUR/GBP is trading at 0.8065, with UK markets closed today for the Spring Bank Holiday, there was little action here. It was mostly about weakness in the euro, as election and politics fostered negative sentiment.
Worries about ideology and political savvy between Merkel and Hollande are the main picture, will these two be able to work together, with such differing opinions or will we see new alliances in the eurozone.
Spain will also move the front stage this week, with little in the way of eco data, the press will be looking for something to report.
Economic Releases May 7, 2012 actual v. forecast
|
AUD |
Building Approvals (MoM) |
7.4% |
3.1% |
-8.8% |
|
AUD |
NAB Business Confidence |
4 |
3 |
|
|
AUD |
Retail Sales (MoM) |
0.9% |
0.2% |
0.3% |
|
CHF |
Unemployment Rate |
3.1% |
3.1% |
3.0% |
|
CHF |
CPI (MoM) |
0.1% |
0.2% |
0.6% |
|
EUR |
German Factory Orders (MoM) |
2.2% |
0.5% |
0.6% |
|
Building Permits (MoM) |
4.7% |
-1.5% |
7.6% |
Economic Events for May 8, 2012
00:01 GBP RICS House Price Balance -10% -10%
02:30 AUD Trade Balance -1.40B -0.48B
06:45 CHF GDP 0.1%
06:45 CHF SECO Consumer Climate -18 -19
13:15 CAD Housing Starts 202K 216K
Government Bond Auctions (this week)
Date Time Country
May 08 09:15 Austria
May 08 09:30 Belgium
May 08 14:30 UK
May 08 15:30 Italy
May 08 17:00 US
May 09 09:10 Sweden
May 09 09:30 Germany
May 09 09:30 Swiss
May 09 09:30 UK
May 09 14:30 Sweden
May 09 15:30 Italy
May 09 17:00 US
May 10 15:00 US
May 10 17:00 US
May 11 09:10 Italy BOT auction
May 11 10:00 Belgium
Click here for updated EUR/GBP News.
Originally posted here
